My wife and I are soon to complete on the purchase of a house in Consett but as a result of wreckage from a small fire at the property I have managed to agree recompense from the vendor of £2k by way of a deduction in the price. I had intended this to be addressed as part of the conveyancing process yet HSBC are not allowing this. Why were they notified?
The property lawyer that is on a HSBC conveyancing panel is duty bound to advise HSBC of any variations to the sale price. If you were to refuse your property lawyer to notify the reduction to HSBC then they would have to discontinue acting for you. In addition, HSBC and you would have to appoint a new lawyer for your conveyancing in Consett.
Can you clarify what the consequences are if my lawyer’s firm is expelled from the Lloyds Solicitor panel ahead of completing my conveyancing in Consett?
The first thing to point out is that, this is a very rare occurrence. In most cases even where a law firm is removed off of a panel the lender would allow the completion to go ahead as the lender would appreciate the difficulties that they would place you in if you have to instruct a new solicitor days before completion. In a worst case scenario where the lender insists that you instruct a new firm then it is possible for a very good lawyer to expedite the conveyancing albeit that you may pay a significant premium for this. The analogous situation is where a buyer instructs a lawyer, exchanges contracts and the law firm is shut down by a regulator such as the SRA. Again, in this situation you can find lawyers who can troubleshoot their way to bring the conveyancing to a satisfactory conclusion - albeit for a fee.
A friend advised me that if I am buying in Consett I should ask my conveyancer to perform a Neighbourhood, Planning and Local Amenity Search. What does it cover?
This is a search is occasionally quoted for as part of the standard Consett conveyancing searches. It is not a small report of about 40 pages, listing and setting out significant information about Consett around the property and the people living there. It incorporates an Aerial Photograph, Planning Applications, Land Use, Mobile Phone Masts, Rights of Way, the local Housing Market, Council Tax Banding, the type of People living in the area, the dominant type of Housing, the Average House Prices, Crime statistics, Local Education with plans and statistics, Local Amenities and other useful data concerning Consett.
How does the Landlord & Tenant Act 1954 impact my commercial premises in Consett and how can you help?
The 1954 Act gives protection to commercial lessees, giving them the legal entitlement to apply to court for a renewal lease and remain in occupation at the end of the lease term. There are certain specified grounds that a landlord can refrain from granting a lease renewal and the rules are complicated. Fees are different for commercial conveyancing. Consett is one of our many areas of the UK in which our lawyers are based
Do I cancel my mortgage payments with Santander once a completion date for my sale in Consett has been set?
You would be well advised to maintain paying any mortgage payments to Santander pending the mortgage being discharged from the proceeds of sale as part of your Consett conveyancing.