Is the fact that my solicitor in Greenfield is not on my lender's solicitor panel that there is a problem with the quality of the firm’s conveyancing?
It would not be wise to jump to that conclusion. There are all sorts of perfectly reasonable explanations. A recent report by the solicitors regulator indicated 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 solicitor 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 Greenfield conveyancing firm and ask them why they are no longer on the approved list for your lender.
Why do I have to pay up front when it comes to conveyancing in Greenfield?
If you are buying a property in Greenfield your lawyer will request that you to provide them with monies to cover the the cost of the conveyancing searches. Generally this is called for to cover the fees of the Local Authority Search. When the deposit is payable against the total price then this should be needed shortly ahead of contracts are exchanged. The closing balance that is needed should be sent to your lawyer shortly before completion.
I'm the only recipient of my late mum's estate with all property in now in my sole name, including the my former home in Greenfield. Conveyancing formalities meant that the Land Registry date was in August. I now wish to sell up. I understand that there is a CML six month 'rule', which means that my proprietorship could be treated the same way as if I'd bought the house in August. Will no one buy the property for half a year?
The Council of Mortgage Lenders’ handbook requires conveyancers to: "report to us immediately if the owner or registered proprietor has been registered for less than six months." Technically you could be caught by that. How practical a view banks take of it, depend on the bank as this provision is chiefly there to pick up on subsales or the flipping of property.
We are getting a further advance on our home loan from Nottingham as we want to conduct alterations to our property in Greenfield. Do we need to appoint a high street Greenfield solicitor on the Nottingham conveyancing panel to deal with the legals?
Nottingham do not ordinarily require a member of their approved list of lawyers to deal with the formalities. If they do require any legal work then you would need to ensure that such a lawyer was on the Nottingham list.
I have paid off my mortgage with Coventry BS. I assume I don't need a Greenfield property lawyer on the Coventry BS panel to discharge the mortgage at the Land Registry. Am I right?
If you have finished paying off your Coventry BS mortgage, they may send you evidence showing that you have paid it off. Alternatively they may notify the Land Registry directly. The Land Registry need to see this evidence before they will remove the Coventry BS mortgage from the register. Coventry BS, and any evidence they send you, will determine the action you need to take. In cases where no conveyancer is acting for you and you have paid off your mortgage:
- but are not moving to another property
- where Coventry BS has sent the Land Registry the discharge electronically, and
- Coventry BS has instructed the Land Registry to do so
My cousin has recommend that I instruct his conveyancing solicitors in Greenfield. Do I follow his recommendation?
Much as we are happy to recommend a Greenfield conveyancing lawyer the ideal way to find a conveyancing lawyer is to have referrals from friends or family who have actually used the conveyancer you're are thinking of instructing.
Do you have any advice for leasehold conveyancing in Greenfield with the aim of saving time on the sale process?
- Much of the frustration in leasehold conveyancing in Greenfield can be avoided where you get in touch lawyers the minute you market your property and request that they start to collate the leasehold documentation which will be required by the buyers’ representatives. If you have carried out any alterations to the premises would they have required Landlord’s consent? Have you, for example laid down wooden flooring? Greenfield leases often stipulate that internal structural alterations or addition of wooden flooring necessitate a licence issued by the Landlord acquiescing to such alterations. Where you dont have the consents in place you should not contact the landlord without checking with your conveyancer in the first instance. If you have had any disputes with your freeholder or managing agents it is essential that these are settled prior to the flat being put on the market. The buyers and their solicitors will be concerned about purchasing a property where there is an ongoing dispute. You may have to bite the bullet and discharge any arrears of service charge or resolve the dispute prior to completion of the sale. It is therefore preferable to have any dispute settled prior to the contract papers being issued to the buyers’ solicitors. You will still have to reveal particulars of the dispute to the buyers, but it is better to reveal the dispute as historic as opposed to unsettled. If you are supposed to have a share in the freehold, you should make sure that you are holding the original share certificate. Arranging a replacement share certificate can be a lengthy process and delays many a Greenfield conveyancing deal. Where a reissued share certificate is needed, do contact the company director and secretary or managing agents (if relevant) for this as soon as possible. The majority of landlords or Management Companies in Greenfield levy fees for providing management packs for a leasehold home. You or your lawyers should find out the fee that they propose to charge. The management information sought as soon as you have a buyer, thus accelerating the process. The typical amount of time it takes to obtain the necessary information is three weeks. It is the most usual reason for frustration in leasehold conveyancing in Greenfield.
Greenfield Conveyancing for Leasehold Flats - A selection of Questions you should consider Prior to buying
Is anyone aware of any major works in the near future that could add a premium to the maintenance charges? Who are the managing agents? You should be aware that where the lease has no more than eighty years it will affect the value of the apartment. Check with your mortgage company that they are willing to lend given the lease term. A short lease means that you will most likely have to extend the lease at some point and it is worth discovering how much this would cost. Remember, in most cases you will need to own the residence for a couple of years before you are legally able to extend the lease.