My wife and I are looking to acquire a flat in Heath and are in fact using a Heath conveyancing firm. Within the last couple of days our property lawyer has forwarded the sale agreement to be signed with a detailed report with a view to exchanging next week. Santander have this evening contacted us to advise us that they have now hit a problem as our Heath conveyancer is not on their conveyancing panel. Please explain?
When purchasing a property with the benefit of a mortgage it is usual for the purchasers' solicitors to also represent the purchaser's lender. 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 property lawyer should contact your bank 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 are not legally obliged to appoint a law firm on the bank's conveyancing panel and you may continue to use your own Heath solicitors, in which case it will likely add costs, and it will likely delay the transaction as you have another set of people involved.
Can you explain why leasehold purchase conveyancing in Heath costs more?
Heath leasehold conveyancing transactions usually involve additional investigations than freeholds including investigating the Lease, liaising with the Landlord such as serving appropriate notices on the Landlord or managing agent, obtaining up-to-date service charge and management information, obtaining Landlord’s consents and reviewing management accounts and formation documents.
My mortgage company has suggested a law firm on their panel based in Heath but I would rather instruct a conveyancing lawyer in Heath round the corner to me. Can you assist?
Not all Heath conveyancing solicitors are listed all banks conveyancing panel. Use our search tool to choose a Heath conveyancing conveyancer on the on the mortgage company panel.
Looking forward to exchange soon on a garden flat in Heath. Conveyancing solicitors inform me that they report fully next week. What should I be looking out for?
The report on title for your leasehold conveyancing in Heath should include some of the following:
Your lawyers should enable you to have an understanding of the building insurance requirements Specifying your rights in relation to common areas in the block.For instance, does the lease permit a right of way over a path or staircase? Are you allowed to have a pet in the flat? You need to be informed what constitutes a Nuisance as far as the lease is concerned The total extent of the premises. This will be the property itself but might include a roof space or basement if relevant.
Heath Conveyancing for Leasehold Flats - Sample of Questions you should ask before Purchasing
Please note that where the lease has fewer than eighty years it will affect the salability of the apartment. It is worth checking with your bank that they are willing to lend given the lease term. Leases with fewer than 80 years remaining means that you will almost definitely need a lease extension at some point and you need to have some idea of what this will be. For most Heathlease extensions you would need to own the property for 24 months before you are entitled to extend the lease. Is anyone aware of any major works on the horizon that will increase the maintenance fees? Are any of leasehold owners in dispute over their service charge payments?
After what seems like an age a mortgage agreement from a mortgage company for the remortgage of my 3 bedroom flat is to be issued by the end of next week. Are you able to suggest a cheap remortgage conveyancing law firm in Heath ?
You have come to the wrong place to search for a cheap conveyancing in Heath. Our aim is to provide excellent value conveyancing but we do not work with the cheapest lawyers. Do not be fooled by brokers offering low cost conveyancing in Heath.In your best case scenario, in going for cheap conveyancing, you will end up with what you pay for and at worst you will end up invoiced for additional fee and still not receive the service you were hoping for.