I went with a local solicitor for my conveyancing in Pewsey recently. Looking through the Terms it is apparent thatwe are liable for fees even where the conveyance does not complete. Should I go with them or select an on-line lawyer who offer no-sale-no-fee conveyancing in Pewsey?
It is usually ‘give and take’ in that if "No Sale No Fee" is advertised then the fee levels will tend to be be more expensive to neutralise those cases that do not proceed. Do bear in mind that such promotions rarely protect you from expenses e.g. Pewsey conveyancing search charges.
I do hope you can assist me. My Pewsey solicitor is assuring me that she is duty bound toconduct Pewsey conveyancing searches due to the fact thatthe firm are on the Santanderapproved lawyer panel. These Pewsey searches cost a lot of money can this be avoided?
Unfortunately both you and your lawyer have little choice here. As you are taking a mortgage with a bank your solicitor has to comply with their conditions as set out in their version of the CML Conveyancing Handbook. Your lawyer would have previously signed the Terms and Conditions of your lender’s conveyancing panel appointment which obliges them to follow the CML Handbook requirements . Even if you were a cash buyer you would be ill advised not to carry out Pewsey conveyancing searches.
Will lawyers ask for money on account for conveyancing in Pewsey?
Where you are retaining lawyers for conveyancing in Pewsey your lawyer will ask you place them with monies to cover the search fees. Generally this is needed to cover the fees of the Local Authority Search. If any down payment is as part of the sale price then this should be required shortly prior to contracts are exchanged. Any further balance that is due should be sent to your lawyer shortly before completion.
I have Fifty Six years unexpired on my lease and need a lease extension for my apartment in Pewsey. Conveyancing solicitors on the Tesco Bank panel can deal with such extensions right?
Most leasehold conveyancing experts should be able to deal with a lease extension. if you are obtaining a mortgage then your lender may insist that the lease be extended before competition. Tesco Bank have specific requirements as set out in the UK Finance Lenders’ Handbook in relation to minimum unexpired lease terms. As of 12/4/2019 the requirements read as follows :
For new build properties, the following lease terms are not acceptable:
- The unexpired lease term on a new build flat is less than 125 years
- The unexpired lease term on a new build house is less than 250 years
If the lease cannot be amended to comply with the above, the case cannot proceed. Please advise us immediately where the case cannot proceed.
Contact point as detailed in 1.11b.
I am the sole beneficiary of my late father’s will and I have everything in my name alone, including the my former home in Pewsey. Conveyancing formalities meant that the Land Registry date was in March. I plan to dispose of the property. I understand that there is a CML 6 month 'rule', meaning my proprietorship could be considered the same way as if I'd bought the house in March. Is the property unsalable for six months?
The CML handbook obliges conveyancers to: "report to us immediately if the owner or registered proprietor has been registered for less than six months." Technically you could be caught by that. How sensible a view mortgage companies take of it, depend on the lender as this obligation is principally there to identify the purchase and immediately sell or the quick reselling of properties.
It is unclear whether my lender requires a lease extension. I have called into my local Pewsey building society branch on numerous occasions and was advised it wasn't an issue and they would lend. My Pewsey conveyancing solicitor - who is on the lender conveyancing panel- called to say that they refuse to lend based on their UK Finance Lenders’ Handbook minimum lease term requirements. I simply don't know who is right.
Your property lawyer has to comply with the CML Handbook Part 2 conditions for your lender. Unless your lawyer obtains specific confirmation in writing that the bank will go ahead, your lawyer has no choice but to refrain from exchanging contract and committing you to the purchase. We would suggest that you ask the bank to contact your lawyer in writing confirming that they will accept the number of years remaining.
I am selling my flat. I had a double glazing fitted in June 2007, but did not receive a FENSA certificate or Building Regulation Certificate. My purchaser’s lender, RBS are being pedantic. The Pewsey solicitor who is on the RBS conveyancing panel is recommending indemnity insurance as a solution but RBS are insisting on a building regulation certificate. Why do RBS have a conveyancing panel if they don't accept advice from them?
It is probably the case that RBS have referred the matter to their valuer. The reason why RBS may not want to accept indemnity insurance is because it does not give them any reassurance that the double glazing was correctly and safely installed. The indemnity insurance merely protects against enforcement action which is very unlikely anyway.