I am in the process of selling my home in Cuckfield and the estate agent has just text me to say that the buyers are changing their conveyancer. The excuse is that the mortgage company will only deal with property lawyers on their conveyancing panel. Why would a big named mortgage company only engage with specific law firms rather the firm that they want to select for their conveyancing in Cuckfield ?
Lenders have always had an approved set of law firms they are content to work with, but in the last few years big names such as Lloyds Banking Group, have reviewed and reduced their conveyancing panel– in some cases removing conveyancing firms who have acted for them for many years.
Mortgage companies point to the increase in fraud by way of justification for the reduction – criteria have been tightened as a smaller panel is easier to keep an eye on. No lender will say how many solicitors have been dropped, claiming the information is commercially sensitive, but the Law Society claims that it is being contacted daily by practices that have been removed from panels. Some do not even realise they have been dropped until contacted by a borrower who has instructed them as might be the situation in your buyers' case. The purchasers are unlikely to have any impact on this.
Having sold my house in Cuckfield last February yet the purchaser is whats apping every few hours to moan that his lawyer is waiting to hear from mine. What are the post completion sale formalities following completion?
Post completion of your disposal your solicitor is committed to forward the transfer documentation and all supplemental paperwork to the purchaser's conveyancer. Where relevant, your conveyancer should also confirm that the legal charge in favour of the lender has been redeemed to the purchasers lawyers. There are no post completion formalities unique to conveyancing in Cuckfield.
My Solicitor in Cuckfield is not listed on the Barclays Direct Conveyancing Panel. Can I still use my prefered solicitor notwithstanding that they are not on the Barclays Direct approved list?
Your options are as follows:
- Complete the purchase with your preferred Cuckfield lawyers but Barclays Direct will need to retain a solicitor on their list of acceptable firms. This will result in additional overall legal charges and result in delays.
- Choose an alternative lawyer to act in the purchase, obviously checking they are Convince your conveyancer to do everything within their powers to join the Barclays Direct conveyancing panel
Just had an offer accepted on a new build apartment in Cuckfield. Conveyancing is a frightening process at the best of times but I have never purchased a new build flat before. What sort of enquires would be asked in new build conveyancing.
Set out below are examples of a few leasehold new build questions that you may expect your new-build leasehold conveyancing in Cuckfield
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The Lease must contain a provision on behalf of the Vendor to pay the service charges in respect of unoccupied units in order to ensure that all services can be provided. Where there is an Undertaking being granted there is the risk of forfeiture of the Headlease subject to relief if one or more of the Underlessees are willing to accept the original Head Lessee’s obligations as otherwise relief will be denied to the Underlessees. The only alternatives are the Head Lessor agreeing not to forfeit the Headlease or the Head Lessee guaranteeing to the Underlessees that it will not be in breach of the Headlease. Where service of notices and proceedings can be at the property demised please confirm that this can be amended to include simultaneous services at the Lessees’ solicitors’ offices where the Lessee from time to time is not resident in the UK - such solicitors may be varied by notice in writing to the Landlord from time to time but otherwise will be as previously specified. The Landlord must covenant to assume the management if the Management Company goes into liquidation or otherwise defaults in running the management scheme. Will the freehold then be transferred for a nominal consideration (not exceeding £100) to the Management Company?
Due to the guidance of my in-laws I had a survey completed on a property in Cuckfield in advance of instructing lawyers. I have been told that there is a flying freehold aspect to the property. The surveyor advised that some banks will refuse to issue a loan on a flying freehold property.
It depends who your proposed lender is. Santander has different requirements from Nationwide. Should you wish to call us we can investigate further with the relevant mortgage company. If you lender is happy to lend one our lawyers can help as they are accustomed to dealing with flying freeholds in Cuckfield. Conveyancing may be slightly more expensive based on your lender's requirements.