I am progressing with the sale of my flat in Northumberland and the EA has just called to warn that the buyers are appointing a new law firm. The reason given is that the bank will only engage with solicitors on their conveyancing panel. On what basis would a major mortgage company only deal with specific solicitors rather the firm that they want to choose to handle their conveyancing in Northumberland ?
Banks have always had an approved set of law firms they are willing to work with, but in recent years big names such as Lloyds Banking Group, have considered and reduced their conveyancing panel– in some cases removing conveyancing firms who have worked with them for many years.
Mortgage companies blame a rise in fraud by way of justification for the reduction – criteria have been tightened as a smaller panel is easier to oversee. Banks tend not to reveal how many solicitors have been dropped, claiming the information is commercially sensitive, but the Law Society says it is being contacted daily by practices that have been removed from panels. Plenty of firms are unaware that they have been dropped until contacted by a borrower who has instructed them as might be the situation in your buyers' case. The purchasers are not going to have any sway in the decision.
Me and my brother own a semi-detached Victorian property in Northumberland. Conveyancing solicitor acted for me and The Royal Bank of Scotland. I did a free Land Registry search last week and I saw a couple of entries: one for freehold, the second leasehold with the exact same property. Is it worth asking The Royal Bank of Scotland to clarify?
You should read the Freehold register you have again and check the Charges Register as there may be mention of a lease. The best way to be sure that you are also the registered proprietor of the leasehold and freehold title as well is to check (£3). It is not completely unheard of in Northumberland and other locations in the country and poses no real issues for owners other than when they remortgage they have to account for both freehold and leasehold interests when dealing with buyers. You can also enquire as to the position with your conveyancing lawyer who conducted the conveyancing.
Just had an offer accepted on a new build flat in Northumberland. Conveyancing is necessary evil at the best of times but I have never purchased a new build flat before. What sort of enquires would be asked in new build legal work.
Set out below is a sample of a few leasehold new build enquiries that you can expect your new-build leasehold conveyancing in Northumberland
There must be mutual enforceability of lessee’s covenants. Please supply a car parking plan. Where service of notices and proceedings can be at the property demised please confirm that this can be amended to include simultaneous services at the Lessees’ solicitors’ offices where the Lessee from time to time is not resident in the UK - such solicitors may be varied by notice in writing to the Landlord from time to time but otherwise will be as previously specified. Investor purchasers must be able to freely grant unsecured tenancies at market rents without requiring any consents. The Lease must contain a provision on behalf of the Vendor to pay the service charges in respect of unoccupied units in order to ensure that all services can be provided.
Due to the advice of my in-laws I had a survey completed on a house in Northumberland before instructing conveyancers. I have been advised that there is a flying freehold aspect to the property. My surveyor advised that some mortgage companies tend refuse to grant a loan on such a home.
It depends who your proposed lender is. HSBC has different requirements for example to Halifax. If you e-mail us we can check with the relevant lender. If you lender is happy to lend one our lawyers can assist as they are accustomed to dealing with flying freeholds in Northumberland. Conveyancing will be smoother if you use a solicitor in Northumberland especially if they are accustomed to such properties in Northumberland.
Should I appoint a Northumberland conveyancing practitioner in close proximity to the house I am buying? We have a good friend who can perform the conveyancing however his firm is located over three hundred miles drive away.
The primary upside of using a high street Northumberland conveyancing practice is that you can attend the office to execute paperwork, present your identification documents and pester them if necessary. Having local Northumberland know how is a bonus. However nothing is more important than finding someone that will do a good and efficient job. If other friends have instructed your friend and they were happy that should surpass using an unfamiliar Northumberland conveyancing solicitor just because they are Northumberland based.