I am nearing exchange of contracts for my ground floor flat in Balsall Heath and the EA has just called to advise that the purchasers are changing their property lawyer. I am told that this is due to the fact that the lender will only deal with solicitors on their approved list. On what basis would a big named lender only work with certain law firms rather the firm that they want to appoint to handle their conveyancing in Balsall Heath ?

UK lenders have always had panels of law firms they are content to work with, but in the last few years big names such as Yorkshire Building Society, have reviewed and reduced their conveyancing panel– in some cases removing conveyancing firms who have represented them for decades.

Banks point to the increase in fraud as the reason for the pruning – criteria have been tightened as a smaller panel is easier to oversee. No lender will say how many solicitors have been dropped, claiming the information is commercially sensitive, but the Law Society says it is hearing daily from firms that have been removed from panels. Some are unaware that they have been dropped until contacted by a borrower who has instructed them as might be the situation in your buyers' case. The buyers are not going to have any impact on this.

Do I need to pay for insurance to address the risk of chancel repairs when purchasing a residence in Balsall Heath?

Unless a previous purchase of the property completed post 12 October 2013 you may assume that conveyancing practitioners handling conveyancing in Balsall Heath to continue to propose a a chancel search and or insurance against a claim.

The estate agent has sent us the confirmation of our purchase of a new build apartment in Balsall Heath. Conveyancing is necessary evil at the best of times but I have never purchased a new build flat before. What sort of enquires would be asked in new build legal work.

Here is a sample of a few leasehold new build questions that you should expect your new-build leasehold conveyancing in Balsall Heath

Investor purchasers must be able to freely grant unsecured tenancies at market rents without requiring any consents. Please confirm the Lease plans are surveyor prepared. The Lease must contain a provision on behalf of the Vendor to pay the service charges in respect of unoccupied units in order to ensure that all services can be provided. Please provide evidence that the form of Lease proposed has been approved by the Land Registry.

I decided to have a survey carried out on a property in Balsall Heath in advance of retaining lawyers. I have been advised that there is a flying freehold overhang to the house. My surveyor advised that some lenders tend not issue a mortgage on this type of house.

It varies from the lender to lender. Santander has different instructions for example to Halifax. If you e-mail us we can look into this further via the relevant bank. If you lender is happy to lend one our lawyers can help as they are accustomed to dealing with flying freeholds in Balsall Heath. Conveyancing will be smoother if you use a solicitor in Balsall Heath especially if they are familiar with such properties in Balsall Heath.

I’m about to sell my ground floor flat in Balsall Heath. Conveyancing is yet to be initiated, but I have recently had a half-yearly service charge invoice – Do I pay up?

The sensible thing to do is clear the service charge as you normally would as all rents and maintenance invoices should be allotted as part of the financial calculations for completion monies, so you should recover the relevant percentage by the buyer for the period running from after the completion date to the next payment date. Most managing agents will not acknowledge the buyer unless the service charges have been paid and are up to date, so it is important for both buyer and seller for the seller to show that they are up to date. Having a clear account will assist your cause and will leave you no worse off financially.

Balsall Heath Conveyancing for Leasehold Flats - A selection of Queries Prior to buying

Are any of leasehold owners in dispute over their service charge liability? Be sure to investigate if there are any onerous restrictions in the lease. By way of example some leases prohibit pets being allowed in in a block in Balsall Heath. If you love the propertyin Balsall Heath but your cat is not allowed to live with you then you will be faced hard decision. Where a Balsall Heath lease has no more than eighty years it will affect the marketability of the apartment. It is worth checking with your bank that they are happy with residual term of the lease. A short lease means that you will almost definitely need a lease extension sooner rather than later and it is worth discovering how much this would cost. Remember, in most cases you will be required to have been the owner of the residence for two years in order to be legally able to extend the lease.