My fiance and I are buying a 2 bedroom flat in Faversham with a homeloan from National Westminster Bank.We like our Faversham conveyancing solicitor but National Westminster Bank says he's not on their approved list of firms. We have to appoint a National Westminster Bank panel lawyer or retain our high street solicitor and pay for a National Westminster Bank panel lawyer to represent them. We feel as though this is unjust; is there anything we can do?
Unfortunately,no. The loan issued to you contains terms and conditions, a common one being that solicitors will be on the National Westminster Bank approved list. Until recently, most lenders had large numbers of law firms on their panels: a borrower could choose one for themselves, as long as it was on the lender's panel. The lender would then simply instruct the borrower's lawyers to act for the lender, too. You can use your lender's panel lawyers or you could borrow from another lender which does not restrict your choice. Another option that might be available is for your lawyer to apply to be on the conveyancing panel for National Westminster Bank
My relative suggested that if I am purchasing in Faversham I should ask my conveyancer to carry out a Neighbourhood, Planning and Local Amenity Search. Can you explain what the purpose of this search is?
A search of this type is usually quoted for as part of the standard Faversham conveyancing searches. It is a large document of more than thirty pages, listing and setting out important information about Faversham around the property and the people living there. It incorporates an Aerial Photograph, Planning Applications, Land Use, Mobile Phone Masts, Rights of Way, the local Housing Market, Council Tax Banding, the type of People living in the area, the dominant type of Housing, the Average House Prices, Crime details, Faversham Education with plans and statistics, Local Amenities and other useful data regarding Faversham.
I decided to have a survey done on a house in Faversham before instructing solicitors. I have been told that there is a flying freehold aspect to the property. Our surveyor advised that some banks tend not grant a loan on such a property.
It depends who your proposed lender is. Santander has different requirements from Nationwide. Should you wish to telephone us we can check with the relevant lender. If you lender is happy to lend one our lawyers can help as they are accustomed to dealing with flying freeholds in Faversham. Conveyancing can be more complicated and therefore you should check with your conveyancing solicitor in Faversham to see if the conveyancing costs will increase in light of this.
Taking into account that I am about to part with hundreds of thousands of pounds on a house in Faversham I wish to talk to a conveyancer regarding theconveyancing ahead of appointing the firm. Is this something that you can arrange?
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 conveyancer due to be carrying out your property ownership legalities in Faversham.There is no ‘factory style conveyancing’ - each client is unique person, not a case number. The practices that we put you in touch with believe that the fees you are provided with for your conveyancing in Faversham should be the figure that you are charged.
Is it best to instruct a Faversham conveyancing lawyer who is local to the property I am hoping to buy? An old friend can deal with the legal work however his firm is located 400kilometers away.
The primary upside of using a local Faversham conveyancing practice is that you can visit the firm to execute documents, hand in your ID and pester them if necessary. Having local Faversham know how is a bonus. However it's more important to get someone that will pull out all the stops for you. If other friends have used your friend and the majority were impressed that should trump using an unfamiliar Faversham conveyancing solicitor just because they are Faversham based.
I am a negotiator for a long established estate agency in Faversham where we see a number of flat sales derailed due to leases having less than 80 years remaining. I have received conflicting advice from local Faversham conveyancing solicitors. Please can you confirm whether the seller of a flat can instigate the lease extension process for the purchaser on completion of the sale?
As long as the seller has been the owner for at least 2 years it is possible, to serve a Section 42 notice to commence the lease extension process and assign the benefit of the notice to the purchaser. This means that the buyer can avoid having to wait 2 years for a lease extension. Both sets of lawyers will agree to form of assignment. The assignment has to be done before, or simultaneously with completion of the disposal of the property.
An alternative approach is to agree the lease extension with the freeholder either before or after the sale. If you are informally negotiating there are no rules and so you cannot insist on the landlord agreeing to grant an extension or transferring the benefit of an agreement to the buyer.
Faversham Conveyancing for Leasehold Flats - Examples of Questions you should consider before buying
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How many years are left on the lease? It would be sensible to investigate if the the lease includes any unreasonable restrictions in the lease. For example some leases prohibit pets being allowed in in a block in Faversham. If you love the propertyin Faversham yet your cat can’t make the move with you then you will be presented with a hard decision.