I was told recently by my IFA that my Banstead lawyer is not on the mortgage company Conveyancing panel. What can I do to be certain if this is indeed the case?
The sensible course of action for you to take is to contact your Banstead lawyer directly. You lawyer should advise you what has happened. Where they are not on the panel they may recommend you to a Banstead conveyancing practice that is on the conveyancing panel for your mortgage company.
Can you clarify what the consequences are if my solicitor is suspended from the Nationwide Solicitor panel ahead of completing my conveyancing in Banstead?
The first thing to point out is that, this is a very rare occurrence. In most cases even where a law firm is removed off of a panel the lender would allow the completion to go ahead as the lender would appreciate the difficulties that they would place you in if you have to instruct a new solicitor days before completion. In a worst case scenario where the lender insists that you instruct a new firm then it is possible for a very good lawyer to expedite the conveyancing albeit that you may pay a significant premium for this. The analogous situation is where a buyer instructs a lawyer, exchanges contracts and the law firm is shut down by a regulator such as the SRA. Again, in this situation you can find lawyers who can troubleshoot their way to bring the conveyancing to a satisfactory conclusion - albeit for a fee.
I decided to have a survey completed on a house in Banstead before appointing conveyancers. I have been told that there is a flying freehold overhang to the property. The surveyor advised that some mortgage companies will refuse to grant a mortgage on such a house.
It depends who your proposed lender is. Santander has different requirements for example to Birmingham Midshires. Should you wish to telephone us we can check with the relevant mortgage company. If you lender is happy to lend one our lawyers can help as they are used to dealing with flying freeholds in Banstead. Conveyancing will be smoother if you use a solicitor in Banstead especially if they are familiar with such properties in Banstead.
Should I go with a Banstead conveyancing practitioner in close proximity to the house I am buying? I have an old university friend who can deal with the legal formalities however they are based 200kilometers away.
The primary upside of using a local Banstead conveyancing practice is that you can drop in to execute documents, deliver your ID and pester them where appropriate. Having local Banstead know how is a bonus. That being said nothing is more important than finding someone that will do a good and efficient job. If you know people who instructed your friend and the majority were content that should trump using an unknown Banstead conveyancing lawyer solely due to them being local.
What are your top tips when it comes to appointing a Banstead conveyancing practice to carry out our lease extension conveyancing?
When appointing a conveyancer for lease extension works (regardless if they are a Banstead conveyancing firm) it is imperative that they be familiar with the legislation and specialises in this area of conveyancing. We recommend that you make enquires with several firms including non Banstead conveyancing practices prior to instructing a firm. If the firm is ALEP accredited then so much the better. The following questions could be useful:
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If they are not ALEP accredited then why not?
I inherited a a ground floor purpose built flat in Banstead. Given that I can not reach agreement with the freeholder, can the Leasehold valuation Tribunal make a decision on the premium due for the purchase of the freehold?
You certainly can. We are happy to put you in touch with a Banstead conveyancing firm who can help.
An example of a Lease Extension case for a Banstead premises is 33 The Maisonettes Alberta Avenue in June 2014. the Tribunal decided that the premium payable for the grant of a new lease be the sum of £20,680 (Twenty Thousand six hundred and eighty pounds). This case affected 1 flat. The unexpired term was 60.43 years.
How much will conveyancing in Banstead cost?
The total sum levied for Banstead conveyancing fees may vary dramatically from solicitor to solicitor. Given these variations it especially critical for you to have a full breakdown of fees before you instruct a lawyer. It is advisable to find two or more fee estimate.