Can you explain why leasehold purchase conveyancing in Southend is more expensive?
Southend leasehold conveyancing transactions usually involve additional investigations than freeholds including investigating the Lease, liaising with the Landlord such as serving appropriate notices on the Landlord or managing agent, obtaining up-to-date service charge and management information, obtaining Landlord’s consents and reviewing management accounts and formation documents.
I had intended to instruct a property lawyer in Southend for our house move. Our broker has since advised us that our mortgage lenders Birmingham Midshires won't deal with them. Surely this is unduly restrictive?
Before the recession most mortgage companies had an appetite for risk which was higher than today. Almost all Southend conveyancing firms would have been on many bank panels. The financial services regulator in 2010 carried out a thematic review into mortgage fraud which concluded: mortgage lenders should know the conveyancing solicitors dealt with. Consequently, lenders have regularly sought more information from law firms relating to their operations and the individuals who work for them and establishing certain criteria such a completing on a minimum amount of conveyancing. Many Southend conveyancing firms that have been excluded from lender panels have a 100% healthy track record, no complaints and no claims and didn't just 'dabble' in conveyancing. Southend is amongst the hundreds of locations where the lawyers showing on our search results are members of the panel for Birmingham Midshires.
What is the difference between a licensed conveyancer and conveyancing solicitor in Southend
There are many recorded licenced Conveyancers in Southend and Solicitor practices in Southend offering conveyancing We would stress that the two are supervised by regulatory bodies with both specialising in the legal aspects of transferring property. The two can deal with other property legal work such as remortgage conveyancing, enfranchisement and transfer of equity conveyancing.
We have agreed to purchase a house in Southend. An unusual aspect is that the roof has a solar panel. Solicitors conducting should look into this right? Will my lender Principality be concerned?
Given that your lender is Principality your lawyer must check the conveyancing instructions contained in Section two of UK Finance Lenders’ Handbook for Principality. The Council of Mortgage Lenders’ Handbook contains minimum conditions for solar panel roof-space leases, and conveyancing practitioners are required to report to Principality where a lease fails to satisfy these provisions. The specifications relate to the installation of panels on properties in England and Wales and is not isolated to Southend.
The formalities of my purchase has taken place for my property in Southend. Conveyancing was satisfactory but I would like to complain about the lender. Who do I contact should I wish to lodge a complaint?
Most banks and building societies have complaints procedures. Your first port of call should be one of the lender’s branches or the Customer Care Department at head office. Ordinarily complaints to a lender are sorted out very quickly. If you feel the matter is not resolved you can write to Financial Ombudsman Service, South Quay Plaza, 183 Marsh Wall, London E14 9SR who will take matters further.
Yesterday I discovered that there is a flying freehold element on a house I put an offer in a fortnight ago in what should have been a simple, chain free conveyancing. Southend is the location of the property. Is there any guidance you can impart?
Flying freeholds in Southend are unusual but are more likely to exist in relation to terraced houses. Even though you don't necessarily need a conveyancing solicitor in Southend you would need to get your solicitor to go through the deeds thoroughly. Your lender may require your conveyancing solicitor to take out an indemnity policy. Some of the more diligent conveyancing solicitors in Southend may decide that this is not enough and that the deeds be re-written to give you the most up to date legal protection. If so, the next door neighbour also had to sign up to the revised deeds.It is possible that your lender will not accept the situation so the sooner you find out the better. You should also check with your insurance broker as to whether they will insure a flying freehold residence.
My brother is buying a basement flat in Southend. He was given a quote by the conveyancer suggested by the selling agents and it came to £1385 . It was 7 years ago since I sold and purchased a home and the bill was £600. Have charges really gone up that much?
What does the conveyancing estimate include? Is it just for the legal fees, or what you will be paying in total (for instance Southend searches, land registry fees, etc)