I am selling my home in Benton and the estate agent has just e-mailed to advise that the purchasers are changing their law firm. I am told that this is due to the fact that the mortgage company will only work with solicitors on their conveyancing panel. Why would a major mortgage company only engage with certain lawyers rather the firm that they want to select to handle their conveyancing in Benton ?
Lenders have always had panels of law firms they are content to work with, but in the past few years big names such as Nationwide, have reviewed and reduced their conveyancing panel– in some cases removing conveyancing firms who have acted for them for more than 15 years.
Mortgage companies point to the increase in fraud by way of justification for the pruning – criteria have been stiffened as a smaller panel is easier to maintain. No lender will say how many solicitors have been dropped, claiming the information is commercially sensitive, but the Law Society claims that it is hearing daily from firms that have been removed from panels. Plenty of firms do not even realise they have been dropped until contacted by a borrower who has instructed them as might be the situation in your buyers' case. Your purchasers are unlikely to have any impact on this.
What does a local search inform me about the property my wife and I purchasing in Benton?
Benton conveyancing often starts with the ordering local authority searches directly from your local Authority or through a personal search organisations for instance Onsearch The local search plays an important role in most Benton conveyancing purchase; that is if you don’t want any unpleasant once you have moved into your property. The search should reveal information on, amongst other things, details on planning applications relevant to the property (whether granted or refused), building control history, any enforcement action, restrictions on permitted development, nearby road schemes, contaminated land and radon gas; in all a total of thirteen subject headings.
About to purchase a new build apartment in Benton. Conveyancing is necessary evil at the best of times but I have never purchased a new build flat before. Can you give me some examples of some of the questions asked in new build conveyancing.
Set out below are examples of a selection of leasehold new build questions that you should expect your new-build leasehold conveyancing in Benton
The Vendor must covenant to keep unsold units in good repair until long leases are granted therefore. Please supply a car parking plan. Please provide evidence that the form of Lease proposed has been approved by the Land Registry. Where there is an Undertaking being granted there is the risk of forfeiture of the Headlease subject to relief if one or more of the Underlessees are willing to accept the original Head Lessee’s obligations as otherwise relief will be denied to the Underlessees. The only alternatives are the Head Lessor agreeing not to forfeit the Headlease or the Head Lessee guaranteeing to the Underlessees that it will not be in breach of the Headlease. If there are lifts in the building, please confirm that the owners of flats on the ground and basement floors will not be required to contribute towards the cost of maintenance and renewal.
Should I go with a Benton conveyancing practitioner based in the vicinity that I am hoping to buy? I have an old university friend who can carry out the legal formalities however her office is 300kilometers drive away.
The primary upside of using a local Benton conveyancing practice is that you can drop in to execute paperwork, hand in your ID and pester them where appropriate. They will also have local knowledge which is a benefit. That being said nothing is more important than finding someone that will pull out all the stops for you. If you know people who used your friend and on the whole were impressed that must outweigh using an unfamiliar Benton conveyancing solicitor just because they are based in the area.
What advice can you give us when it comes to choosing a Benton conveyancing practice to deal with our lease extension?
When appointing a conveyancer for lease extension works (regardless if they are a Benton conveyancing practice) it is imperative that they be familiar with the legislation and specialises in this area of conveyancing. We suggest that you speak with several firms including non Benton conveyancing practices prior to instructing a firm. Where the conveyancing practice is ALEP accredited then so much the better. The following questions might be useful:
If they are not ALEP accredited then why not? Can they put you in touch with clients in Benton who can give a testimonial?
Benton Conveyancing for Leasehold Flats - Sample of Queries Prior to buying
It would be sensible to enquire if the the lease contains any adverse restrictions in the lease. For example plenty of leases prohibit pets being allowed in certain buildings in Benton. If you like the flatin Benton yet your dog is not allowed to live with you then you will be faced hard decision. Who manages the building? How is the lease structured?