My husband and I are hoping to buy a 3 bedroom flat in Quedgeley with a mortgage. We have a Quedgeley solicitor, however the lender advise she’s not on their "panel". We have to appoint one of the lender panel conveyancing practices or continue with our Quedgeley property lawyer as well as pay for one of their panel ones to act for them. We consider that this is unjust; is there anything we can do?
No, not really. Your mortgage offer is subject to its terms and conditions, one of which will be that lawyers will on the bank’s conveyancing panel. Until recently, most lenders had large numbers of law firms on their panels: a borrower could choose one for themselves, as long as it was on the lender's panel. The lender would then simply instruct the borrower's lawyers to act for the lender, too. You can use your lender's panel lawyers or you could borrow from another lender which does not restrict your choice. A further alternative is for your Quedgeley conveyancing solicitor to apply to be on the conveyancing panel.
My husband and I are buying a newly built flat in Quedgeley and my conveyancer is telling me that she has to the mortgage company to reveal incentives from the developer. I am on a tight deadline to exchange contracts and I don't want to prolong deal. Is my lawyer right?
You should not exchange unless you have been advised to do so by your solicitor. A precondition to being on a bank panel is to comply with the UK Finance Lenders’ Handbook requirements. The CML Conveyancing Handbook requires that your lawyer have the appropriate Disclosure of Incentive form completed by the developer and accepted by your lender.
My relative advised me that where I am buying in Quedgeley I should ask my conveyancer to perform a Neighbourhood, Planning and Local Amenity Search. What does it cover?
A search of this type is sometimes quoted for as part of the standard Quedgeley conveyancing searches. It is not a small report of about 40 pages, listing and setting out significant information about Quedgeley around the property and the people living there. It includes an Aerial Photograph, Planning Applications, Land Use, Mobile Phone Masts, Rights of Way, the local Housing Market, Council Tax Banding, the type of People living in the area, the dominant type of Housing, the Average Property Price, Crime statistics, Quedgeley Education with plans and statistics, Local Amenities and other useful information about Quedgeley.
All being well we will complete our sale of a £150,000 flat in Quedgeley on Wednesday in a week. The management company has quoted £312 for Landlord’s certificate, building insurance schedule and 3 years service charge statements. Is it legal for a freeholder to charge such fees for a flat conveyance in Quedgeley?
Quedgeley conveyancing on leasehold maisonettes often involves the buyer’s solicitor submitting questions for the landlord to address. Although the landlord is not legally bound to respond to such questions most will be content to assist. They are entitled to levy a reasonable charge for responding to questions or supplying documentation. There is no upper cap for such fees. The average costs for the information that you are referring to is £350, in some cases it exceeds £800. The management information fee required by the landlord must be accompanied by a summary of rights and obligations in relation to administration charges, otherwise the charge is technically not due. Reality however dictates that you have no option but to pay whatever is requested of you should you wish to exchange contracts with the buyer.
Quedgeley Leasehold Conveyancing - Examples of Queries Prior to buying
The best form of lease structure is if the freehold interest is owned by the leaseholders. In this situation the tenants have being in charge if their destiny and although a managing agent is frequently retained if the building is bigger than a house conversion, the managing agent acts for the leaseholders themselves. What prohibitions are there in the Quedgeley Lease? You will want to discover as much as possible concerning the company managing the block as they can either make your living at the property much simpler or problematic. Being a leasehold owner you are frequently in the clutches of the managing agents both financially and when it comes to practical matters such as the cleanliness of the communal areas. You should not be shy to ask other tenants what they think of them. In conclusion, find out the dates that you are obliged pay the service charge to the managing agents and specifically what it includes.
I have just appointed agents to market my 2 bed flat in Quedgeley.Conveyancing lawyers have not yet been instructed however I have recently had a half-yearly maintenance charge demand – should I leave it to the buyer to sort out?
Your conveyancing lawyer is likely to suggest that you should pay the service charge as you normally would as all rents and service invoices will be apportionedas part of the financial calculations for completion monies, so you will be reimbursed by the purchaser for the period running from after the completion date to the next payment date. Most managing agents will not acknowledge the buyer until the service charges have been paid and are up to date so it is important for both buyer and seller for the seller to show that they are up to date. Having a clear account will assist your cause and will leave you no worse off financially