Am I correct in assuming that the fact that my conveyancer in Christchurch is not on my lender's conveyancing panel that there is a problem with the quality of his conveyancing?
It would not be wise to jump to that conclusion. There are plenty of plausible explanations. Just recently a report by the solicitors regulator revealed 76% of law firms surveyed had been removed from at least one lender panel. The most common reasons for removal are: (1) low volume of transactions (2) the lawyer is a sole practitioner (3) as part of the HSBC panel reduction (4) regulatory contact by SRA (5) accidental removal. Should you be concerned you should contact the Christchurch conveyancing practice and ask them why they are no longer on the approved list for your bank.
Will my conveyancing lawyers need to check that the building insurance for my purchase of a house in Christchurch. My lender is Virgin
Virgin have specific requirements as set out in the UK Finance Lenders’ Handbook. As of 17/5/2019, the requirements read as follows :
How does conveyancing in Christchurch differ for new build properties?
Most buyers of new build or newly converted property in Christchurch contact us having been asked by the developer to sign contracts and commit to the purchase even before the residence is completed. This is because house builders in Christchurch usually acquire 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 conveyancing solicitors 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 accustomed to new build conveyancing in Christchurch or who has acted in the same development.
My husband and I are novice buyers - agreed a price, but the selling agent informed us that the seller will only move forward if we instruct their preferred conveyancers as they need a ‘quick sale’. Our preferred option is to instruct a family solicitor used to conveyancing in Christchurch
We suspect that the owner is unaware of this request. If they desire ‘a quick sale', turning down a motivated buyer is is going to put the whole deal at risk. Speak to the owners direct and make sure they understand (a)you are serious purchasers (b)you are ready to go, with mortgage lined up © you do not need to sell (d) you wish to move quickly (e)however you intend to instruct your preferred Christchurch conveyancing solicitors - not the ones that will earn their negotiator at the agency a commission or meet his conveyancing figures demanded by HQ.
I am hoping to sign contracts shortly on a leasehold property in Christchurch. Conveyancing lawyers have said that they will have a report out to me within the next couple of days. What should I be looking out for?
Your report on title for your leasehold conveyancing in Christchurch should include some of the following:
Alterations to the premises You should know if the lease permits you to change or improve aspects of the flat- you should know whether it relates to all alterations or just structural alteration, and whether consent is required The length of the lease term. You should be advised as what happens when the lease expires, and informed of the importance of not letting the lease term falling below eighty years Who has the liability to repair and maintain the building. It is important that you know which party is liable for the repair and maintenance of every part of the building Defining your rights in respect of the communal areas in the block.For example, does the lease contain a right of way over an accessway or staircase?
Christchurch Leasehold Conveyancing - Examples of Queries before buying
It is important to be aware whether window replacement or some other significant cost is pending to be shared by the leasehold owners and could well materially increase the the service charges or require a one off payment. The answer will be useful as a) areas can cause problems in the building as the communal areas may start to deteriorate where services are not paid for b) if the tenants have an issue with the running of the building you will need to know about it It would be wise to discover as much as possible concerning the company managing the building as they can either make your life much simpler or problematic. As the proprietor of a leasehold property you will be at the mercy of the managing agents from a financial perspective and when it comes to daily matters like the upkeep of the communal areas. Don't be afraid to ask other people whether they are happy with them. Finally, be sure you know the dates that the maintenance fees are due to the managing agents and specifically what it includes.