My partner and I are looking to acquire a home in Blakelaw and are in fact using a Blakelaw conveyancing practice. Within the past 48 hours our conveyancer has sent a preliminary report and documents to look through in anticipation of exchanging contracts shortly. National Westminster Bank have this evening contacted us to inform me that they have now hit a problem as our Blakelaw conveyancer is not on their approved list of lawyers. Please explain?
Where you are buying a property with the assistance of a mortgage it is standard for the purchasers' solicitors to also act for the purchaser's lender. In order to act for a bank or building society a law firm has to be on that lender's conveyancing panel. An application has to be made by the law firm to the lender to become a member of the lender's panel and there are increasingly strict criteria which the firm has to satisfy and indeed some lenders now require their panel members to be part of the Law Society’s Conveyancing Quality Scheme. Your property lawyer should contact your bank and see if they can apply for membership of their conveyancing panel, but if that is not viable they will instruct their own solicitors to act. You don't have to instruct a firm on the lender’s conveyancing panel and you may continue to use your own Blakelaw solicitors, in which case your legal fees may increase, and it will likely delay the transaction as you have another set of people involved.
My wife and I are purchasing a flat in Blakelaw. It might be a silly question but how we can trust a conveyancer? At some point we will need to send funds into their account. What is the protection we have from them run away with our money?
Be assured that all money in a Solicitors client account is 100% safe, and even if your Solicitor ran off with it, the Law Society would reimburse you fully.
My husband and I are in the throws of looking at flats in Blakelaw and I am now considering a potential offer. Is it wise to have my property lawyer on ‘stand by’? I am planning to take a mortgage with Santander.
You should start obtaining conveyancing quotes from solicitors ASAP. Once you decide who you want to use and once your offer is accepted you can instruct them to work for you and forward their contact information on to the selling agent. Given that you are getting a mortgage with Santander, ask your prospective lawyers if they are on the Santander conveyancing panel otherwise they can't do the mortgage legal work.
It is unclear whether my mortgage offer obliges me to make sure the lease term for the flat is extended prior to the completion date. I have called into my local Blakelaw bank branch on a couple of occasions and was told they are content with the situation and they would lend. My Blakelaw conveyancing solicitor - who is on the lender conveyancing panel- telephoned to say that they will not lend based on their UK Finance Lenders’ Handbook minimum lease term requirements. Who do I believe?
Provided that the lawyer is on the lender approved list, she or he must adhere to the CML Handbook provisions for the bank. Unless your lawyer obtains specific confirmation in writing that the mortgage company will go ahead, your lawyer has no choice but to refrain from exchanging contract and committing you to the purchase. We would suggest that you ask the mortgage company to contact your lawyer in writing confirming that they will accept the number of years remaining.
I bought my apartment on 16 March and my personal details is yet to be registered. Should I be concerned? My conveyancing solicitor in Blakelaw advises it should be dealt with in less than a month. Are titles in Blakelaw particularly slow to register?
As far as conveyancing in Blakelaw is concerned, registration is no faster or slower than the rest of England and Wales. Rather than based on location, timescales can vary depending on the party submitting the application, whether it is in order and if the Land registry must send notices to any third persons or bodies. Currently approximately 80% of submission are completed in less than three weeks but occasionally there can be extensive delays. Registration takes place after the purchaser is living at the property therefore 'speed' is not always an essential issue yet where there is a degree of urgency associated with the registration then you or your solicitor could communicate with the Registry to express the reasoning for the application to be prioritised.
Just had an offer accepted on a new build flat in Blakelaw. 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 legal work.
Here are examples of a selection of leasehold new build enquiries that you should expect your new-build leasehold conveyancing in Blakelaw
The Vendor must covenant to keep unsold units in good repair until long leases are granted therefore. There must be mutual enforceability of lessee’s covenants. Please provide evidence that the form of Lease proposed has been approved by the Land Registry. Where service of notices and proceedings can be at the property demised please confirm that this can be amended to include simultaneous services at the Lessees’ solicitors’ offices where the Lessee from time to time is not resident in the UK - such solicitors may be varied by notice in writing to the Landlord from time to time but otherwise will be as previously specified. Has the Lease plan been approved by the Land Registry and if not when will they be lodged for this purpose?
I have been on the look out for a ground for flat up to £305k and identified one close by in Blakelaw I like with amenity areas and railway links in the vicinity, the downside is that it's only got 52 years unexpired on the lease. There is not much else in Blakelaw suitable, so just wondered if I would be making a grave error acquiring a lease with such few years left?
Should you require a home loan the remaining unexpired lease term will be problematic. Discount the offer by the expected lease extension will cost if not already taken into account. If the existing owner has owned the property for at least twenty four months you may ask them to commence the lease extension formalities and then assign it to you. You can add 90 years to the current lease term and have £0 ground rent by law. You should speak to your conveyancing solicitor about this matter.