My wife and I are looking to buy a house in Norfolk and have instructed a Norfolk conveyancing firm. Within the last couple of days our solicitor has forwarded the sale agreement to be signed with a detailed report in anticipation of exchanging contracts shortly. Bank of Scotland have this morning contacted us to advise us that they have now hit a problem as our Norfolk lawyer is not on their conveyancing panel. Is this a problem?
Where you are buying a property with the assistance of a mortgage it is conventional for the purchasers' lawyers to also act for the mortgage company. 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 mortgage company 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 lender’s conveyancing panel as you are at liberty to use your preferred Norfolk lawyers, in which case your legal fees may increase, and it may delay matters as you have another set of people involved.
My partner and I intend to remortgage our penthouse in Norfolk with Kent Reliance. We have a son 18 who lives at home. Our solicitor requested us to identify anyone over the age of 17 other than ourselves who lives in the flat. Our lawyer has now e-mailed a document for our son to sign, waiving any legal rights in the event that the apartment is forfeited by the lender. I have a couple of questions (1) Is this document specific to the Kent Reliance conveyancing panel as he did not need to sign this form when we bought 3 years ago (2) Does our son by signing this extinguish his entitlement to inherit the property?
First, rest assured that your Kent Reliance conveyancing panel solicitor is doing the right thing as it is established procedure for any occupier who is aged 17 or over to sign the necessary Consent Form, which is purely to state that any rights he has in the property are postponed and secondary to Kent Reliance. This is solely used to protect Kent Reliance if the property were re-possessed so that in such circumstances, your son would be legally obliged to leave. It does not impact your son’s right to inherit the apartment. Please note that if your son were to inherit and the mortgage in favour of Kent Reliance had not been discharged, he would be liable to take over the loan or pay it off, but other than that, there is nothing stopping him from keeping the property in accordance with your will or the rules of intestacy.
Have purchased a a terraced house in Norfolk , how long should it take for the Land Registry to register my ownership? My Norfolk conveyancing solicitor works at snail pace, so I want to be sure that my purchase is registered.
As far as conveyancing in Norfolk registration is no faster or slower than anywhere else in the country. Rather than based on location, timescales can vary depending on who lodges the application, whether it is in order and whether the Land registry communicate with any 3rd persons or bodies. Currently roughly three quarters of such applications are fully addressed in less than three weeks but occasionally there can be extensive hold-ups. Registration occurs after the buyer is living at the premises so registration formalities is not usually an essential issue yet where there is a degree of urgency associated with the registration then you or your lawyers must communicate with the Registry to express the reasoning for an expedited registration.
My husband and I are first time buyers - had an offer accepted, but the agent informed us that the owners will only issue a contract if we use the agent's recommended conveyancers as they need a ‘quick sale’. We would rather use a local conveyancer used to conveyancing in Norfolk
We suspect that the owner is not behind this request. If they desire ‘a quick sale', turning down a motivated purchaser is counter productive. Contact the owners directly and make the point that (a)you are keen to buy (b)you are ready to go, with finances in place © you are chain free (d) you wish to move quickly (e)but you intend to instruct your own,trusted Norfolk conveyancing firm - as opposed tothe ones that will provide the estate agent a kickback or achieve conveyancing targets set by senior management.
Planning to complete next month on a studio apartment in Norfolk. Conveyancing lawyers assured me that they report fully on Monday. Are there areas in the report that I should be focusing on?
Your report on title for your leasehold conveyancing in Norfolk should include some of the following:
specifics of the parties to the lease, for instance these could be the lessee, superior lessor, freeholder Whether your lease provides for a slush account for major repairs? What remedies are open the freeholder should you have violated the provisions of the lease? Whether the landlord has obligations to ensure rights of quiet enjoyment over your property and do you know what it means in practice?
Norfolk Conveyancing for Leasehold Flats - A selection of Queries Prior to Purchasing
Best to be warned if window replacement or some other significant cost is anticipated to be shared amongst the tenants and will materially impact the level of the maintenance charges or result in a one time payment. How is the lease structured? Are there any major works in the planning that could add a premium to the service fees?