Is the fact that my solicitor in Walton is not identified on my mortgage company's solicitor panel that there is a problem with the standard of his conveyancing?
That would most likely be an incorrect assumption to make. There are plenty of reasonable explanations. A recent report by the solicitors regulator revealed that over three quarters of law firms surveyed had been removed from at least one lender panel. The top 5 reasons are as follows: (1) low volume of transactions (2) the lawyer is a sole practitioner (3) as part of the HSBC panel reduction (4) regulatory contact by SRA (5) accidental removal. Should you be concerned you should simply call the Walton conveyancing practice and ask them why they are no longer on the approved list for your mortgage company.
We are soon to complete buying a house in Walton but as a consequence of damage from a small fire at the property I have was able negotiate reparation from the owner of three thousand pounds taking the form of a reduction in the price. This was going to be addressed as part of amending the contract but Coventry BS will not agree to this. Should they have been approached?
Your lawyer being on a Coventry BS approved list is duty bound to inform Coventry BS of any amendments to the purchase price. If you were to refuse your property lawyer to report the price change to Coventry BS then they would have to discontinue acting for you. In addition, Coventry BS and you would have to appoint a new lawyer for your conveyancing in Walton.
Can you explain why leasehold purchase conveyancing in Walton is more expensive?
Walton leasehold properties involve far more paperwork than a freehold purchase, and therefore takes more time to examine and advise upon.Conveyancing will involve the lease having to be checked which is usually a lengthy document, queries raised to ensure that the covenants and conditions have been observed. If it is a flat there will be a management company in existence and the accounts of this will need to be checked and enquiries raised to ensure it is operating efficiently and that all monies due have been paid by the Seller to the company and if not ensuring that money is paid up to date or the appropriate undertakings obtained.
I am buying a new build flat in Walton. Conveyancing is a frightening process at the best of times but I have never purchased a new build flat before. Can you give me some examples of some of the questions asked in new build legal work.
Here is a sample of a few leasehold new build enquiries that you may expect your new-build leasehold conveyancing in Walton
Please confirm the Lease plans are surveyor prepared. The Landlord must covenant to assume the management if the Management Company goes into liquidation or otherwise defaults in running the management scheme. Investor purchasers must be able to freely grant unsecured tenancies at market rents without requiring any consents. There must be mutual enforceability of lessee’s covenants. Will the freehold then be transferred for a nominal consideration (not exceeding £100) to the Management Company?
I was recommended by two or three local estate agents in Walton to locate a conveyancer on your site. What’s the financial advantage for Estate Agents to offer your site over another?
We don’t offer any financial incentive for sending work in our direction. We found it would be just too difficult a fee as a client could think, ‘How come the agent getting a kickback? Why aren’t I getting any benefit too?’ We would prefer to grow our business on genuine recommendations.