My fiance and I are hoping to purchase a house in Eccleston and St Helens and are in fact using a Eccleston and St Helens conveyancing firm. Within the past 48 hours our property lawyer has sent a preliminary report and documents to look through in anticipation of exchanging contracts shortly. Bank of Scotland have this evening contacted us to advise us that they have now hit a problem as our Eccleston and St Helens conveyancer is not on their approved list of lawyers. Please explain?
When purchasing a property with the benefit of a mortgage it is normal for the purchasers' solicitors to also act for the mortgage company. 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 Accreditation Scheme. Your solicitor should contact your lender 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 as you are at liberty to use your preferred Eccleston and St Helens lawyers, in which case it will likely add costs, and it will likely delay the transaction as you are adding another lawyer into the mix.
My wife and I intend to remortgage our penthouse in Eccleston and St Helens with Clydesdale. We have a son approaching twenty who lives at home. Our solicitor has asked us to disclose anyone over the age of 17 other than ourselves who reside at the property. The solicitor has now sent a form for our son to sign, waiving any legal rights in the event that the property is repossessed. I have a couple of concerns (1) Is this document specific to the Clydesdale conveyancing panel as he did not need to sign this form when we remortgaged 5 years ago (2) In signing this form is our son in any way compromising his right to inherit the property?
First, rest assured that your Clydesdale conveyancing panel solicitor is doing the right thing as it is established procedure for any occupier who is aged 17 or over to sign the necessary Consent Form, which is purely to state that any rights he has in the property are postponed and secondary to Clydesdale. This is solely used to protect Clydesdale if the property were re-possessed so that in such circumstances, your son would be legally obliged to leave. It does not impact your son’s right to inherit the apartment. Please note that if your son were to inherit and the mortgage in favour of Clydesdale had not been discharged, he would be liable to take over the loan or pay it off, but other than that, there is nothing stopping him from keeping the property in accordance with your will or the rules of intestacy.
How does conveyancing in Eccleston and St Helens differ for new build properties?
Most buyers of new build property in Eccleston and St Helens come to us having been asked by the housebuilder to exchange contracts and commit to the purchase even before the property is built. This is because developers in Eccleston and St Helens typically buy 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 Eccleston and St Helens or who has acted in the same development.
I've recently found out that there is a flying freehold issue on a property I put an offer in last month in what should have been a quick, chain free conveyancing. Eccleston and St Helens is where the house is located. Can you offer any guidance?
Flying freeholds in Eccleston and St Helens are rare but are more likely to exist in relation to terraced houses. Even though you don't necessarily need a conveyancing solicitor in Eccleston and St Helens you must be sure that your lawyer goes through the deeds diligently. Your bank may require your conveyancing solicitor to take out an indemnity policy. Some of the more diligent conveyancing solicitors in Eccleston and St Helens may determine that this is not enough and that the deeds be re-written to give you the most up to date legal protection. If so, the next door neighbour also had to sign up to the revised deeds.It is possible that your lender will not accept the situation so the sooner you find out the better. You should also check with your insurance broker as to whether they will insure a flying freehold premises.
All being well we will complete the sale of our £375,000 garden flat in Eccleston and St Helens in just under a week. The landlords agents has quoted £360 for Landlord’s certificate, insurance certificate and previous years statements of service charge. Is it legal for a freeholder to charge such fees for a flat conveyance in Eccleston and St Helens?
Eccleston and St Helens conveyancing on leasehold apartments ordinarily involves fees being invoiced by landlords agents :
Answering pre-contract questions
Where consent is required before sale in Eccleston and St Helens
Supplying insurance information
Deeds of covenant upon sale
Registering of the assignment of the change of lessee after a sale
Eccleston and St Helens Conveyancing for Leasehold Flats - Sample of Queries before Purchasing
Can you tell me if there are any major works anticipated that could increase the maintenance costs? It is important to be aware if changing the roof or some other significant cost is coming up that will be shared by the leasehold owners and will materially increase the the maintenance costs or result in a one off invoice. Who takes responsibility for maintaining and repairing the building?