I am progressing with the sale of my house in Isle of Sheppey and the estate agent has just text me to warn that the buyers are appointing a new law firm. The excuse is that the mortgage company will only deal with solicitors on their conveyancing panel. Why would a major lender only engage with specific lawyers rather the firm that they want to appoint for their conveyancing in Isle of Sheppey ?
Mortgage companies have always had an approved set of law firms that can act for them, but in the past few years big names such as Yorkshire Building Society, have reviewed and reduced their conveyancing panel– in some cases removing conveyancing firms who have acted for them for many years.
Lending institutions attribute this action to a rise in fraud by way of justification for the reduction – criteria have been tightened as a smaller panel is easier to keep an eye on. No lender will say how many solicitors have been dropped, claiming the information is commercially sensitive, but the Law Society says it is hearing daily from firms that have been removed from panels. Some do not even realise they have been dropped until contacted by a borrower who has instructed them as might be the situation in your buyers' case. The buyers are unlikely to have any impact on this.
I am in the process of refinancing my property in Isle of Sheppey, does my lawyer need to be on the Virgin Money Conveyancing panel?
There is nothing to stop you using your solicitor, but Virgin Money will insist on their interests being represented by a firm on their conveyancing panel. There is much more potential for delays and confusion with an additional lawyer added to the mix, and it will undoubtedly be more expensive too.
What will a local search reveal concerning the property I am purchasing in Isle of Sheppey?
Isle of Sheppey conveyancing often starts with the submitting local authority searches directly from your local Authority or via a personal search organisations for instance Searches UK The local search is essential in every Isle of Sheppey conveyancing purchase; as long as you don’t want any unpleasant once you have moved into your property. The search should supply information on, amongst other things, details on planning applications applicable to the premises (whether granted or refused), building control history, any enforcement action, restrictions on permitted development, nearby road schemes, contaminated land and radon gas; in all a total of thirteen subject areas.
About to purchase a new build apartment in Isle of Sheppey. Conveyancing is a frightening process at the best of times but I have never purchased a new build flat before. Can you give me some examples of some of the questions asked in new build conveyancing.
Set out below are examples of a few leasehold new build enquiries that you can expect your new-build leasehold conveyancing in Isle of Sheppey
The Vendor must covenant to keep unsold units in good repair until long leases are granted therefore. If there are lifts in the building, please confirm that the owners of flats on the ground and basement floors will not be required to contribute towards the cost of maintenance and renewal. Investor purchasers must be able to freely grant unsecured tenancies at market rents without requiring any consents. There must be mutual enforceability of lessee’s covenants. Forfeiture - bankruptcy or liquidation must not apply under this provision.
In what way does the Landlord & Tenant Act 1954 affect my business property in Isle of Sheppey and how can your lawyers assist?
The 1954 Act affords a safeguard to commercial tenants, granting the right to apply to court for a renewal tenancy and continue in occupation at the end of the lease term. There are certain specified grounds where a landlord can refrain from granting a lease renewal and the rules are involved. Fees are different for commercial conveyancing. Isle of Sheppey is one of our numerous areas of the UK in which the firms we work with are located