Please help. My Fradley lawyer is informing me me that he has toorder Fradley conveyancing searches stemming from the fact thatthe firm are on the HSBCconveyancing panel. Is my lawyer right?
Unfortunately both you and your lawyer have little choice here. Given that you are taking out a loan with a lender your solicitor has to comply with their conditions as set out in their version of the CML Conveyancing Handbook. Your solicitor would have previously signed the Terms and Conditions of your bank’s conveyancing panel appointment which obliges them to follow the Council of Mortgage Lenders’ Handbook provisions . Even if you were a cash buyer you would be ill advised not to carry out Fradley conveyancing searches.
I am looking for a flat up to £305k and identified one close by in Fradley I like with open areas and transport links in the vicinity, however it's only got 61 years unexpired on the lease. There is not much else in Fradley suitable, so just wondered if I would be making a grave error acquiring a short lease?
Should you require a mortgage the remaining unexpired lease term will likely be problematic. Reduce the offer by the amount the lease extension will cost if it has not already been discounted. If the existing owner has owned the property for at least 2 years you may ask them to start the process of the extension and then assign it to you. You can add 90 years to the current lease with a zero ground rent applied. You should speak to your conveyancing solicitor regarding this.
Taking into account that I am about to part with £400,000 on a two bedroom apartment in Fradley I would like to have a conversation with the conveyancer regarding thetransaction ahead of appointing the firm. Can this be arranged?
We could not agree more - it is our preference to talk to you we do not take any clients on without you liaising with the lawyer due to be conducting your conveyancing in Fradley.There is no ‘factory style conveyancing’ - every client is unique person, not a case number. The solicitors that we put you in touch with believe that the figure you are calculated and presented to you for residential conveyancing in Fradley should be the figure that you end up paying.
My husband and I are first time buyers - agreed a price, but the estate agent has warned us that the vendor will only move forward if we use the agent's preferred lawyers as they need a ‘quick sale’. Our preferred option is to instruct a local conveyancer accustomed to conveyancing in Fradley
It is unlikely the sellers are driving this. Should the seller want ‘a quick sale', taking such a hostile approach to a genuine buyer is counter productive. Speak to the owners direct and explain that (a)you are genuine purchasers (b)you are excited to move forward, with mortgage lined up © you are unencumbered (d) you intend to proceed fast (e)however you intend to instruct your preferred Fradley conveyancing solicitors - as opposed tothe ones that will give their estate agent a commission or meet his conveyancing thresholds set by HQ.
Should I be concerned if there is an issue with the searches conducted as part of my conveyancing in Fradley?
Usually, almost all issues arising from Fradley conveyancing search results can be handled prior to completion or title insurance could possibly be taken. It is important to note that although you intend on buying the premises and may be willing to live with the search results, your mortgage lender may not, and ultimately the decision rests with them.