I am not in a position to travel far from Launceston. I would like to know the understand why all Launceston lawyers are not on all lender panels?
Pre- 2008 most mortgage companies had an attitude to risk which differs from the current day. The Financial Services Authority in 2010 carried out a thematic review into fraud which concluded: know the conveyancers on your panel. Accordingly, lenders have since soughtmore information from law firms about their operations and the staff who work for them and set certain criteria such as completing a minimum number of transactions. Thousands of law practices have found themselves removed from lender panels even though they had an exemplary track record, no complaints and zero claims and didn't just 'dabble' in conveyancing. Such firms found it impossible meet the criteria of volume of transactions the mortgage companies set.
I have given 8 weeks notice to my current landlord and have to be out of my let out property in Launceston by 7/1/2021. Conveyancing for my house purchase is progressing. Is it possible to complete in 4 weeks as I wish to avoid having to move into temporary accommodation?
The normal practice is not to serve notice on a rental unless you have exchanged. If you have not previously done so, speak to your conveyancer and ask them to they cajole the sellers side, try to an agreed time frame that all parties will work to achieve
I have recentlybeen informed that Arc property Solicitors have closed. They carried out my conveyancing in Launceston for a purchase of a leasehold apartment 18 months ago. How can I establish that my home is in my name in the name of the previous owner?
The quickest method to see if the premises is registered to you, you can make a search of the land registry (£3.00). You can either do this yourself or ask a law firm to do this for you. If you are not registered you can seek help from one of a number of Launceston conveyancing specialists.
We're novice buyers - agreed a price, but the estate agent has warned us that the owners will only issue a contract if we instruct the agent's chosen lawyers as they need an ‘expedited deal’. My instinct tells me that we should use a family solicitor with experience of conveyancing in Launceston
It is unlikely the vendors are behind this. If they want ‘a quick sale', alienating a serious buyer is counter productive. Try to communicate with the vendors directly and make sure they understand (a)you are genuine purchasers (b)you are excited to move forward, with mortgage lined up © you are chain free (d) you wish to move quickly (e)however you are going to instruct your preferred Launceston conveyancing firm - not the ones that will provide the estate agent a commission or meet his conveyancing thresholds pre-set by corporate headquarters.
I am a negotiator for a reputable estate agent office in Launceston where we have experienced a number of flat sales put at risk due to leases having less than 80 years remaining. I have received conflicting advice from local Launceston conveyancing solicitors. Please can you shed some light as to whether the vendor of a flat can commence the lease extension formalities for the buyer?
As long as the seller has been the owner for at least 2 years it is possible, to serve a Section 42 notice to kick-start the lease extension process and assign the benefit of the notice to the purchaser. The benefit of this is that the proposed purchaser need not have to wait 2 years to extend their lease. Both sets of lawyers will agree to form of assignment. The assignment needs to be completed prior to, or simultaneously with completion of the disposal of the property.
Alternatively, it may be possible to extend the lease informally by agreement with the landlord either before or after the sale. If you are informally negotiating there are no rules and so you cannot insist on the landlord agreeing to grant an extension or transferring the benefit of an agreement to the buyer.
Leasehold Conveyancing in Launceston - Sample of Queries before Purchasing
Best to be warned if a new roof is being put on or some other major work is coming up to be shared amongst the leaseholders and will dramatically impact the level of the service charges or necessitate a specific invoice. Please note that where the lease has less than 80 years it will affect the marketability of the flat. It is worth checking with your bank that they are content with the length of the lease. Leases with less than 80 years remaining means that you will most likely have to extend the lease at some point and you need to have some idea of how much this would cost. Remember, in most cases you would need to own the residence for 24 months before you are entitled to extend the lease.