Is it correct that all Grangetown CQS (Conveyancing Quality Scheme) solicitors are on the Nationwide conveyancing panel?
A selection of lenders now make use of the accreditation scheme as the starting point for Panel membership such as HSBC and Santander. The Law Society’s CQS membership however gives no guarantee to lender panel acceptance. That being said,the CML have indicated that it is likely to become a pre-requisite for firms wishing to join their approved list of firms.
Last month we had a mortgage agreed in principle with Clydesdale. Grangetown conveyancing lawyers have been chosen. What is the average time that one could expect to receive a mortgage offer from Clydesdale?
There is no definitive answer here. Have Clydesdale completed the survey? Have you advised Clydesdale as to your lawyers' details and checked that your lawyers are on the Clydesdale conveyancing panel? It is not unusual for a mortgage offer to take a month to come through.
I am expecting a OIP from Leeds Building Society this week so we can work out what to offer on a property we like as otherwise we are dependent on web based calculators (which aren't taking into account credit checks etc). Do Leeds Building Society recommend any Grangetown solicitors on the Leeds Building Society conveyancing panel, or is it better to go independently?
You will need to appoint Grangetown solicitors independently although you'll need to choose one on the Leeds Building Society conveyancing panel. The solicitor represents both you and Leeds Building Society through the process.
How does conveyancing in Grangetown differ for newly converted properties?
Most buyers of new build property in Grangetown contact us having been asked by the developer to sign contracts and commit to the purchase even before the premises is finished. This is because house builders in Grangetown typically buy the site, 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 Grangetown or who has acted in the same development.
I decided to have a survey completed on a property in Grangetown in advance of instructing conveyancers. I have been advised that there is a flying freehold overhang to the property. The surveyor advised that some lenders may not issue a loan on such a premises.
It varies from the lender to lender. Lloyds has different instructions from Halifax. Should you wish to telephone us we can look into this further via the relevant bank. If you lender is happy to lend one our lawyers can help as they are used to dealing with flying freeholds in Grangetown. Conveyancing may be slightly more expensive based on your lender's requirements.
In relation to leasehold conveyancing in Grangetown what are the most common lease problems?
Leasehold conveyancing in Grangetown is not unique. All leases are unique and drafting errors can result in certain sections are wrong. For example, if your lease is missing any of the following, it could be defective:
A provision to repair to or maintain parts of the premises A provision for the recovery of money spent for the benefit of another party.
A defective lease will likely cause issues when trying to sell a property as they can affect a potential buyer’s ability to obtain a mortgage. Santander, The Mortgage Works, and TSB all have very detailed conveyancing instructions when it comes to what is expected in a lease. If a mortgage lender believes that the lease is problematic they may refuse to provide security, obliging the purchaser to withdraw.
Grangetown Conveyancing for Leasehold Flats - Examples of Questions you should ask Prior to Purchasing
Is anyone aware of any major works anticipated that could increase the maintenance fees? Does the lease have in excess of 85 years remaining?
To what extent are Grangetown conveyancing solicitors under an obligation to the Law Society to issue clear conveyancing costs?
Inbuilt into the Solicitors Code of Conduct are prescriptive rules and regulations as to how the Solicitors Regulation Authority (SRA) allow solicitors to publicise their charges to clients.The Law Society have a practice note giving advice on how to publicise transparent charges to avoid breaching any such rule. Practice notes are not legal advice issued by the Law Society and is not to be regarded as the only standard of good practice a conveyancing solicitor should adhere to. The Practice Note does, nevertheless, constitute the Law Society’s perspective of acceptable practice for publicising conveyancing charges, and accordingly it’s a recommended read for any solicitor or conveyancer in Grangetown or across England and Wales.