I decided to go with a Acocks Green based solicitor for my conveyancing in Acocks Green yesterday. Upon checking the official terms of business I notewe are liable for costs even if the sale doesn't happen. Should I go with them or appoint an on-line solicitor practice promising no move no charge conveyancing in Acocks Green?
It is usually ‘give and take’ in that if "No Completion No Fee" is available then the conveyancing charges will tend to be be higher to cover those conveyances that do not go ahead. Do bear in mind that such promotions tend not to cover disbursements e.g. Acocks Green conveyancing search expenses.
My conveyancer has uncovered a a legal deficiency with the lease for the apartment we are purchasing in Acocks Green. The seller’s lawyers have suggested defective title insurance as a workaround. We are content with insurance and will cover the costs. Our lawyer says that he must be satisfied that the mortgage company is content with this solution. Who is the client here, us or the lender?
The short answer to your last question is that, notwithstanding the potential for a conflict of interest, you and the lender are the client. Your conveyancing practitioner must comply with the UK Finance Lenders’ Handbook conditions. The UK Finance Lenders’ Handbook conditions require your lawyer to disclose issues such as defects with the lease so that the bank can be afforded the opportunity to check with their valuer as to the extent that the value of the property is affected. Should you refuse to allow your lawyer to make the appropriate notification then your conveyancer will have no choice but to discontinue acting for you.
I'm the only beneficiary of my late father’s will and I have everything in my name alone, including the my former home in Acocks Green. Conveyancing formalities meant that the Land Registry date was in January. I now wish to sell up. I understand that there is a Mortgage Lenders six month 'rule', which means that my proprietorship will be regarded the same way as if I'd bought the house in January. Is the property unsalable for six months?
The Council of Mortgage Lenders’ handbook mandates conveyancers to: "report to us immediately if the owner or registered proprietor has been registered for less than six months." By the strict wording you may be impacted by that. How practical a view mortgage companies take of it, depend on the mortgage company as this clause is principally there to identify the purchase and immediately sell or the flipping of property.
We have agreed to purchase a house in Acocks Green. A rare aspect is that the roof has a solar panel. Lloyds have issued a mortgage offer so presumably this is not a concern to them. Why is my solicitor raising questions about the panel?
As you are obtaining a mortgage with Lloyds your lawyer must check the formal instructions set out in Section 2 of UK Finance Lenders’ Handbook for Lloyds. The CML Handbook stipulates minimum specifications for solar panel roof-space leases, and lawyers are required to report to Lloyds where a lease fails to comply with these specifications. The requirements relate to the installation of panels on properties countrywide and is not limited to Acocks Green.
Co-operative have agreed my mortgage in principle, my offer on a flat in Acocks Green has been accepted, what are the next steps?
Your property agent will need to know who your solicitors are (ensure that the conveyancing practitioners are on the lender’s approved list). Call up Co-operative or your financial adviser and finish off any outstanding paperwork. Co-operative will sellect a valuer who will get in touch with the estate agent or vendor to book an appointment. Once carried out (assuming no problems) it takes on average ten days to get a mortgage offer. Co-operative will issue the offer to you and your solicitors. The transaction will then take it’s course according the nature and complexity of the conveyancing in Acocks Green.
Should commercial conveyancing searches reveal proposed roadworks that could impact a commercial land in Acocks Green?
Its becoming the norm that commercial conveyancing solicitors in Acocks Green will conduct a SiteSolutions Highways report as it dramatically cuts the time that conveyancers spend in looking into accurate data on highways that impact buildings and development assets in Acocks Green. The report provides definitive information on the adoption status of roads, footpaths and verges, as well as the implication of traffic schemes and the rights of way surrounding a commercial development sites in Acocks Green.
For each commercial conveyancing transaction in Acocks Green it is crucial to investigate the adoption status of roads surrounding a site. Failure to identify developments where adoption procedures have not been dealt with adequately may result in delays to Acocks Green commercial conveyancing deals as well as present a risk to future plans for the site. These searches are not ordered for domestic conveyancing in Acocks Green.
I am thinking of appointing a conveyancing lawyer in Acocks Green for my home move. Is there any facility to check a firm’s complaints history with the profession’s regulator?
You can search for presented Solicitor Regulator Association (SRA) determinations stemming from investigations started on or after Jan 2008. Go to Check a solicitor's record. For details about the period before 1 January 2008, or to check a solicitors record, phone 0870 606 2555, 08.00 - 18.00 any week day save for Tuesday when lines open at 9.30am. International callers, call +44 (0)121 329 6800. The SRA may monitor call for training purposes.
Last August I purchased a leasehold flat in Acocks Green. Am I liable to pay service charges relating to a period prior to my ownership?
Where the service charge has already been demanded from the previous lessee and they have not paid you would not usually be personally liable for the arrears. Strange as it may seem, your landlord may still be able to take action to forfeit the lease. A critical element of leasehold conveyancing for your conveyancer to be sure to have an up to date clear service charge receipt before completion of your purchase. If you have a mortgage this is likely to be a requirement of your lender.
If you purchase part way through an accounting year you may be liable for charges not yet demanded even if they relate to a period prior to your purchase. In such circumstances your conveyancer would normally arrange for the seller to set aside some money to cover their part of the period (usually called a service charge retention).
I acquired a ground floor flat in Acocks Green, conveyancing was carried out in 1995. Can you work out an approximate cost of a lease extension? Similar flats in Acocks Green with over 90 years remaining are worth £190,000. The ground rent is £65 yearly. The lease finishes on 21st October 2086
You have 61 years remaining on your lease the likely cost is going to range between £19,000 and £22,000 plus legals.
The figure that we have given is a general guide to costs for extending a lease, but we cannot give you a more accurate figure without more comprehensive investigations. Do not use the figures in a Notice of Claim or as an informal offer. There may be other issues that need to be taken into account and clearly you want to be as accurate as possible in your negotiations. You should not take any other action placing reliance on this information without first getting professional advice.