My husband and I are purchasing a purpose built flat in Headley with a residential mortgage from Lloyds TSB Bank.We would like to retain our Headley conveyancing solicitor but Lloyds TSB Bank advised that her practice is not on their "panel". It seems we have no choice but to instruct a Lloyds TSB Bank panel firm or retain our preferred solicitor and pay for a Lloyds TSB Bank panel lawyer to act for them. This seems very unfair; is there anything we can do?
No, not really. The home loan offered to you contains terms and conditions, a common one being that solicitors must be on the Lloyds TSB Bank approved list. in the past, most banks had large numbers of solicitors on their panels: a borrower could find one for themselves, as long as it was on the lender's panel. The lender would then simply instruct the borrower's lawyers to act for the lender, too. You can use your lender's panel lawyers or you could borrow from another lender which does not restrict your choice. A further alternative is for your lawyer to apply to be on the conveyancing panel for Lloyds TSB Bank
Will my solicitor be making enquiries about flooding as part of the conveyancing in Headley.
Flooding is a growing risk for lawyers conducting conveyancing in Headley. Some people will purchase a house in Headley, completely aware that at some time, it may suffer from flooding. However, aside from the physical damage, if a property is at risk of flooding, it may be difficult to obtain a mortgage, suitable insurance cover, or dispose of the property. There are steps that can be taken during the course of a property purchase to forewarn the buyer.
Conveyancers are not qualified to impart advice on flood risk, but there are a numerous searches that can be carried out by the buyer or on a buyer’s behalf which should give them a better understanding of the risks in Headley. The standard completed inquiry forms given to a buyer’s conveyancer (where the Conveyancing Protocol is adopted) incorporates a standard question of the vendor to determine whether the premises has historically flooded. If the residence has been flooded in past and is not revealed by the vendor, then a purchaser may commence a claim for damages as a result of such an incorrect answer. The purchaser’s lawyers should also carry out an enviro search. This will higlight if there is any known flood risk. If so, more detailed inquiries should be carried out.
Despite weeks of looking the Title Certificate and documents to our property can not be found. The conveyancers who handled the conveyancing in Headley 5 years ago no longer exist. What are my options?
Assuming the title is registered the details of your ownership will be retained by HMLR with a Title Number. It is easy to conduct a search at the Land Registry, locate your house and obtain up to date copies of the property title for less than a fiver. If the property is Leasehold then the Land Registry will in most cases hold a certified duplicate of the Registered Lease and again, a copy can be retrieved for £20 inclusive of VAT.
How does conveyancing in Headley differ for newly converted properties?
Most buyers of new build property in Headley come to us having been asked by the builder to sign contracts and commit to the purchase even before the premises is constructed. This is because new home sellers in Headley tend to acquire 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 accustomed to new build conveyancing in Headley or who has acted in the same development.
Being a leasehold owner I am on the hook for a maintenance fee for my appartment in Headley. As a result of personal circumstances I slipped behind with remittance. I negotiated a settlement schedule but there remains in the region of £2000 outstanding at the current time.
I want to sell and I am nervous that this will threaten to derail the sale if I have to settle the amount due now. Do I have to settle before - is this practicable?
Your solicitor will hopefully be in a position to negotiate with the appropriate parties, and agree with them whether or not they would accept settlement from sale proceeds. This is indicative of why it might be good to instruct a conveyancing practitioner in Headley as they are likely to enjoy a strong line of communication with the management company.