We are purchasing a 2 bedroom apartment in Barnstaple with a mortgage. We wish to retain our Barnstaple lawyer, but the mortgage company says she’s not on their "panel". It appears that we have no option but to instruct one of the mortgage company panel firms or continue with our Barnstaple property lawyer and pay for one of their panel lawyers to represent them. This feels very unfair; is there anything we can do?
No, not really. Your mortgage offer is subject to its terms and conditions, one of which will be that lawyers will on the lender’s conveyancing panel. 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 Barnstaple conveyancing lawyer to apply to be on the conveyancing panel.
Why do I have to pay up front for my conveyancing in Barnstaple?
If you are buying a property in Barnstaple your solicitor will ask you place them with monies to cover the the cost of the conveyancing searches. This will be the total of the cost of the Local Authority Search. If any deposit is payable against the total price then this should be required shortly ahead of exchange of contracts. The final balance that is needed will be payable a couple of days prior to the day of completion.
We're in Barnstaple, First time buyers purchasing with a mortgage (lender is Clydesdale , and our lawyer is on the Clydesdale conveyancing panel). How long should the conveyancing process take?
The fact that your lawyer is on the Clydesdale conveyancing panel is a help. It would almost certainly delay matters if they were not. However, no conveyancer should guarantee a timeframe for your conveyancing, due to third parties outside of your control such as delays caused by lenders,conveyancing search providers or by the other side’s solicitors. The time taken is often determined by the number of parties in a chain.
I completed on my flat on 7 November and my personal details is yet to be on the land registry website. Need I be worried? My conveyancing solicitor in Barnstaple said it would be recorded in less than a month. Are properties in Barnstaple particularly slow to register?
As far as conveyancing in Barnstaple is concerned, registration is no quicker or slower than anywhere else in England and Wales. As opposed to being determined by geographic area, timeframes can vary depending on the party submitting the application, whether it is in order and if the Land registry have to notify any 3rd parties. As of today in the region of 80% of such applications are fully dealt with within 12 days but occasionally there can be longer delays. Historically registration occurs once the purchaser has moved in to the property therefore 'speed' is not always primary concern yet if it is urgent that the the registration takes place urgently then you or your solicitor must contact the land registry and explain the circumstances.
I opted to have a survey completed on a house in Barnstaple prior to retaining lawyers. I have been advised that there is a flying freehold aspect to the house. The surveyor advised that some lenders may not give a loan on this type of property.
It depends who your proposed lender is. Bank of Scotland has different requirements for example to Birmingham Midshires. If you contact us we can investigate further via 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 Barnstaple. Conveyancing will be smoother if you use a solicitor in Barnstaple especially if they are acquainted with such properties in Barnstaple.
Can you offer any advice when it comes to finding a Barnstaple conveyancing practice to deal with our lease extension?
If you are instructing a solicitor for your lease extension (regardless if they are a Barnstaple conveyancing firm) it is essential that he or she should be familiar with the legislation and specialises in this area of conveyancing. We advise that you talk with two or three firms including non Barnstaple conveyancing practices prior to instructing a firm. If the firm is ALEP accredited then so much the better. The following questions might be helpful:
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How familiar is the practice with lease extension legislation?
I am the registered owner of a garden flat in Barnstaple, conveyancing was carried out October 1996. Can you give me give me an indication of the likely cost of a lease extension? Similar flats in Barnstaple with an extended lease are worth £180,000. The average or mid-range amount of ground rent is £65 invoiced annually. The lease comes to an end on 21st October 2084
With 58 years unexpired we estimate the price of your lease extension to range between £21,900 and £25,200 plus professional fees.
The suggested premium range that we have given is a general guide to costs for renewing a lease, but we are not able to provide a more accurate figure in the absence of detailed due diligence. You should not use the figures in a Notice of Claim or as an informal offer. There are no doubt other issues that need to be considered and you obviously should be as accurate as possible in your negotiations. Please do not move forward placing reliance on this information without first getting professional advice.