My financial adviser says he needs my Ferndown solicitor’s panel member for the Lloyds conveyancing panel. Can you suggest how I find this out. I have e-mailed my local Ferndown office but they have not got back to me yet.
Have you tried contacting your Ferndown property lawyer about this?. Most Ferndown conveyancing firms will retain a file or database of lender panel information which would include, if applicable, their conveyancing panel details for each lender.
I am need of leasehold conveyancing for a flat in a relatively new development (five years built) in Ferndown. 95% of the appartments have already been occupied. Is it strictly necessary to order neighbourhood searches as part of conveyancing in Ferndown?
If you getting a loan, your lender will require some (many) of the searches so you'll have no choice. If not, then Ferndown conveyancing searches are for you to decide upon. No doubt your conveyancer, will 'advise', perhaps in the strongest possible terms, that you should have the searches done, but he or she has a professional duty to do this. One thing to bear in mind; if you are likely to sell the house one day, it may be of interest to your future buyer what the searches contain. Sometimes houses with no practical issues can still throw up adverse search results. But if you demand that your lawyer to proceed without searches then your lawyer will have to follow your instructions or you will need to swap to another solicitor for your conveyancing in Ferndown.
I am considering applying for a TSB mortgage for purchase of a new build (under development) in Ferndown with 65 per cent loan to value. Is it compulsory to choose a solicitor on the conveyancing panel for TSB ?
In theory, you could use a solicitor that is not on the TSB conveyancing panel, but TSB would require one of their panel solicitors to be instructed to act in their interests, and you'd have to pay for this - so most people instruct a panel solicitor. It's also easier, as otherwise you'd have to deal with two solicitors for the same transaction.
I am a negotiator for a reputable estate agency in Ferndown where we have experienced a number of leasehold sales jeopardised due to leases having less than 80 years remaining. I have received contradictory information from local Ferndown conveyancing solicitors. Can you shed some light as to whether the seller of a flat can initiate the lease extension formalities for the buyer?
As long as the seller has been the owner for at least 2 years it is possible, to serve a Section 42 notice to start the lease extension process and assign the benefit of the notice to the purchaser. The benefit of this is that the buyer need not have to wait 2 years for a lease extension. Both sets of lawyers will agree to form of assignment. The assignment needs to be completed prior to, or simultaneously with completion of the disposal of the property.
Alternatively, it may be possible to extend the lease informally by agreement with the landlord either before or after the sale. If you are informally negotiating there are no rules and so you cannot insist on the landlord agreeing to grant an extension or transferring the benefit of an agreement to the purchaser.
Ferndown Leasehold Conveyancing - Examples of Queries before buying
Does the lease include onerous restrictions? Be sure to enquire if the the lease contains any unreasonable restrictions in the lease. For example plenty of leases prohibit pets being permitted in in a block in Ferndown. If you love the apartmentin Ferndown however your dog is not allowed to make the move with you then you will be presented with a difficult compromise. Please note if it is less than eighty years it will impact the marketability of the flat. It is worth checking with your mortgage company that they are content with residual term of the lease. A short lease means that you will almost definitely require a lease extension sooner rather than later and you need to have some idea of what this would cost. Remember, in most cases you would be be obliged to have been the owner of the residence for two years before you are entitled to extend the lease.
Our financial adviser has recommended their lawyer for the conveyancing in Ferndown - Surely it’s advisable to just use them?
You need to establish if the estate agent is recommending a conveyancer or introducing to a lawyer. There are plenty of Ferndown selling agents who recommend two or three Ferndown conveyancing firms purely based on those lawyers offering a great service.