Do banks and building societies provide you with an approved list of Carmel conveyancing solicitors? How do you know who is on the Virgin Money conveyancing panel?

Carmel conveyancing firms themselves provide us confirmation that they are on the Virgin Money conveyancing panel as opposed to being supplied with a list from Virgin Money directly.

I require quick conveyancing in Carmel as I am under pressure to exchange contracts within 3 weeks. A mortgage is not required. Is it possible to avoid the conveyancing searches to save money and time?

As you are are a cash buyer you are at liberty not to do searches although no law firm would advise that you don't. Drawing on years of experience of conveyancing in Carmel the following are examples of issues that can arise and therefore affect future saleability: Enforcement Notices, Outstanding Charges, Overdue Grants, Road Schemes,...

Due to the advice of my in-laws I had a survey completed on a house in Carmel before retaining lawyers. I have been informed that there is a flying freehold overhang to the property. The surveyor advised that some mortgage companies tend refuse to give a loan on a flying freehold home.

It depends who your proposed lender is. Bank of Scotland has different instructions from Nationwide. If you call us we can check with the appropriate mortgage company. If you lender is happy to lend one our lawyers can help as they are used to dealing with flying freeholds in Carmel. Conveyancing will be smoother if you use a solicitor in Carmel especially if they regularly deal with such properties in Carmel.

I am a negotiator for a reputable estate agent office in Carmel where we have witnessed a few leasehold sales derailed due to leases having less than 80 years remaining. I have been given inconsistent advice from local Carmel conveyancing firms. Can you confirm whether the vendor of a flat can commence the lease extension process for the purchaser on completion of the sale?

As long as the seller has owned the lease 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. The benefit of this is that the proposed purchaser need not have to wait 2 years for a lease extension. Both sets of lawyers will agree to form of assignment. The assignment has to be done prior to, or at the same time as completion of the sale.

Alternatively, it may be possible 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.

Leasehold Conveyancing in Carmel - Examples of Queries before Purchasing

It is important to be aware whether fixing the lift or some other significant cost is due shortly that will be shared amongst the tenants and will dramatically increase the the service costs or necessitate a one time payment. What is the name of the managing agents?

My solicitors in Carmel have advised me that no longer have my conveyancing file. To assist with my purchase I took out a mortgage with the mortgage company. Is it case that being on the bank conveyancing panel they need to have retained the file for a prescribed period?

It very much depends from lender to lender but many of the Terms and Conditions of Conveyancing Panel Appointment require the file to be held for a period of 6 years. That being said we have not seen a copy of the lender Conveyancing Panel Terms. It might be worth you contacting the bank directly.