I had intended to instruct a property lawyer in Wingate for our house move. Our broker informed us that our mortgage lenders HSBC Bank won't deal with them. Surely this is unduly restrictive?
Lenders on the whole imposes restrictions either the category or the amount of conveyancing practices on their member panel. A common example of such criteria being that a firm must not be a sole practitioner. In addition to restricting the profile of firm, some have reduced the number of solicitor practices they permit to act for them. You should note that HSBC Bank have no responsibility for the quality of advice provided by any member of HSBC Bank Conveyancer Panel. Mortgage fraud was a key driver in the reduction of conveyancing panels since 2008 even though there are differing views about the extent of solicitor engagement in some of that fraud. Figures from the Land Registry indicate that plenty of law firms, including some in or near Wingate only conduct one or two conveyances per annum.
Various online forums that I have frequented warn that are a common cause of obstruction in Wingate conveyancing transactions. Is there any truth in this?
The Council of Property Search Organisations (CoPSO) has noted the findings of a review by MoveWithUs that conveyancing searches do not figure within the common causes of hindrances in the conveyancing process. Local searches are unlikely to be the root cause of delay in conveyancing in Wingate.
I opted to have a survey done on a property in Wingate ahead of instructing lawyers. I have been told that there is a flying freehold aspect to the property. My surveyor has said that some lenders tend not give a loan on a flying freehold home.
It depends who your proposed lender is. Santander has different requirements from Halifax. Should you wish to telephone us we can investigate further via the relevant lender. If you lender is happy to lend one our lawyers can help as they are used to dealing with flying freeholds in Wingate. Conveyancing may be slightly more expensive based on your lender's requirements.
My brother has suggested that I instruct his conveyancing solicitors in Wingate. Should I use them?
There are no two ways about it it’s preferable to choose a conveyancing solicitor is to get guidance from friends or relatives who have previously instructed the solicitor you're considering.
Can you offer any advice when it comes to appointing a Wingate conveyancing firm to deal with our lease extension?
If you are instructing a conveyancer for your lease extension (regardless if they are a Wingate conveyancing firm) it is essential that he or she should be familiar with the legislation and specialises in this area of conveyancing. We suggest that you speak with several firms including non Wingate conveyancing practices before you instructing a firm. Where the conveyancing practice is ALEP accredited then that’s a bonus. The following questions might be useful:
How familiar is the practice with lease extension legislation? Can they put you in touch with clients in Wingate who can give a testimonial?
Wingate Conveyancing for Leasehold Flats - Examples of Queries Prior to Purchasing
What is the length of the lease? Be sure to enquire if there are any onerous prohibitions in the lease. For instance it is fairly common in Wingate leases that pets are not permitted in in a block in Wingate. If you love the apartmentin Wingate but your dog is not allowed to make the move with you then you will be faced hard determination. Please note if it is fewer than eighty years it will have adverse implications on the value of the apartment. Check with your mortgage company that they are content with the length of the lease. Leases with less than 80 years remaining means that you will probably require a lease extension at some point and you need to have some idea of what this would cost. Remember, in most cases you will need to own the residence for 24 months in order to be entitled to carry out a lease extension.