I am in the process of selling my ground floor flat in Burghfield Common and the EA has just called to warn that the purchasers are changing their law firm. I am told that this is due to the fact that the bank will only engage with property lawyers on their conveyancing panel. Why would a leading mortgage company only deal with specific law firms rather the firm that they want to select for their conveyancing in Burghfield Common ?
UK lenders have always had panels of law firms they are willing to work with, but in recent years big names such as Nationwide, have considered and reduced their conveyancing panel– in some cases removing conveyancing firms who have acted for them for decades.
Mortgage companies point to the increase in fraud as the reason for the reduction – criteria have been tightened as a smaller panel is easier to monitor. No lender will say how many solicitors have been dropped, claiming the information is commercially sensitive, but the Law Society claims that it is being contacted daily by practices 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.
Can the conveyancing solicitors that you recommend conduct auction conveyancing in Burghfield Common?
There are a few auction lawyers we can put you in touch with those conducting auction conveyancing. Burghfield Common is one of the many locations where our lawyers cover.
How does conveyancing in Burghfield Common differ for newly converted properties?
Most buyers of new build residence in Burghfield Common come to us having been asked by the builder to sign contracts and commit to the purchase even before the property is completed. This is because new home sellers in Burghfield Common usually purchase the real estate, plan the estate and want to get the plots sold off as they are building the properties. Buyers, therefore, will have to exchange contracts without actually seeing the house they are buying. To reduce the chances of losing the property, buyers should instruct conveyancers as soon as the property is reserved and mortgage applications should be submitted quickly. Due to the fact that it could be several months and even years between exchange of contracts and completion, the mortgage offer may need to be extended. It would be wise to use a lawyer who specialises in new build conveyancing especially if they are used to new build conveyancing in Burghfield Common or who has acted in the same development.
In what way can the Landlord & Tenant Act 1954 impact my commercial offices in Burghfield Common and how can your lawyers assist?
The particular law that you refer to affords security of tenure to business tenants, granting the a statutory right to apply to court for a renewal lease and remain in occupation at the end of an expired lease. There are certain specified grounds that a landlord can refrain from granting a lease renewal and the rules are complicated. We are happy to direct you to commercial conveyancing solicitors who use the act to your advantage and help with commercial conveyancing in Burghfield Common
I am hoping to put an offer on a small detached house that seems to tick a lot of boxes, at a great figure which is making it all the more appealing. I have just been informed that the title is leasehold rather than freehold. I would have thought that there are particular concerns purchasing a leasehold house in Burghfield Common. Conveyancing advisers have are soon to be instructed. Will my lawyers set out the implications of buying a leasehold house in Burghfield Common ?
Most houses in Burghfield Common are freehold and not leasehold. This is one of the situations where having a local solicitor who is familiar with the area can help the conveyancing process. We note that you are buying in Burghfield Common in which case you should be looking for a Burghfield Common conveyancing practitioner and be sure that they have experience in transacting on leasehold houses. As a matter of priority you will need to check the number of years remaining. As a tenant you will not be at liberty to do whatever you want to the property. The lease comes with conditions for example obtaining the landlord’sconsent to conduct alterations. You may also be required to pay a maintenance charge towards the upkeep of the estate where the house is part of an estate. Your lawyer should report to you on the legal implications.