My husband and I are hoping to purchase a property in Shoeburyness and have appointed a Shoeburyness conveyancing firm. Within the past 48 hours our solicitor has sent a preliminary report and documents to look through in anticipation of exchanging contracts shortly. Nationwide Building Society have this morning contacted us to inform me that they have now hit a problem as our Shoeburyness lawyer is not on their conveyancing panel. Please explain?
When purchasing a property with the benefit of a mortgage it is usual for the purchasers' solicitors to also represent 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 Quality Scheme. Your solicitor 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 lawyers to represent them. You don't have to instruct a firm on the bank's conveyancing panel and you may continue to use your own Shoeburyness solicitors, in which case it will likely add costs, and it may delay matters as you are adding another lawyer into the mix.
The Shoeburyness conveyancing lawyers that I appointed last week on my purchase in Shoeburyness have without warning shut down. They were on acting for me because I had to have a solicitor on the Leeds Building Society conveyancing panel and my family Shoeburyness lawyer was not. I sent them a cheque for two hundred pounds in advance. What are my options?
Assuming that you have an Estate Agent in the equation then let them know straight away so that they can let the sellers know that there may be a slight delay due to reasons beyond your control. Most sellers would be sympathetic and urge their lawyer to send a new set of papers to your new solicitors. You should appoint new lawyers that are on the Leeds Building Society conveyancing panel and notify the lender. If you have paid over any money, it will hopefully be held by the SRA as money in an intervened firm's bank accounts is transferred to the SRA. Then, the SRA or the intervention agent looks at the intervened firm's accounts to work out who the money belongs to. To claim your money you will need to contact the SRA. If the SRA cannot return money you are owed from the firm's bank accounts, or if they can only return part of the money, you can apply to the Compensation Fund for a grant. Your new solicitors may be able to help.
I have been recommended by three or four local estate agents in Shoeburyness to choose a property lawyer using your seach tool. Is there a financial advantage for Estate Agents to recommend your site over alternative conveyancing organisations?
We refuse to offer any commission for directing people in our direction. We thought it would be too underhand a fee because members of the public would think, ‘Why is the agent getting a kickback? Why am I not getting any benefit too?’ We would prefer to grow our business on genuine recommendations.
My father-in-law has suggested that I instruct his lawyers for conveyancing in Shoeburyness. Do I follow his recommendation?
No doubt the best way to choose a conveyancing lawyer is to have referrals from friends or relatives who have actually previously instructed the conveyancer that you are considering.
Frank (my husband) and I may need to rent out our Shoeburyness basement flat for a while due to a career opportunity. We used a Shoeburyness conveyancing practice in 2004 but they have closed and we did not think at the time seek any guidance as to whether the lease prohibits the subletting of the flat. How do we find out?
Some leases for properties in Shoeburyness do contain a provision to say that subletting is only allowed with permission. The landlord is not entitled to unreasonably withhold but, in such cases, they would need to see references. Experience suggests that problems are usually caused by unsatisfactory tenants rather than owner-occupiers and for that reason you can expect the freeholder to take up the references and consider them carefully before granting consent.
Shoeburyness Conveyancing for Leasehold Flats - Examples of Questions you should consider before buying
What is the maintenance charge and ground rent on the apartment? Most Shoeburyness leasehold properties will incur a service charge for maintenance of the building levied on behalf of the management company. Where you acquire the flat you will have to meet this liability, usually in instalments throughout the year. This could differ from several hundred pounds to thousands of pounds for blocks with lifts and large common areas. In all likelihood there will be a ground rent for you to pay yearly, normally this is not a large figure, say around £50-£100 but you need to check as occasionally it could be prohibitively expensive. On the whole the cost for major works tend not to be incorporated into the maintenance charges, although there some managing agents in Shoeburyness require tenants to contribute towards a sinking fund created for the specific intention of building a fund for major repairs or maintenance.