My Solicitor in Belton is not on the HSBC Bank Conveyancing Panel. Is it possible for me to use my prefered solicitor even though they are excluded from the HSBC Bank approved list?
Your options are as follows:
- Carry on with your existing Belton lawyers but HSBC Bank will need to retain a conveyancer on their panel. This will inevitably rack up the total legal charges and result in delays.
- Choose an alternative lawyer to act in the conveyancing, remembering to check they are on the HSBC Bank panel
3 months have elapsed following my purchase conveyancing in Belton concluded. I have checked the Land Registry site which shows that I paid £150,000 when infact I paid £180,000. Why the discrepancy?
The price paid figure is taken from the application to register the purchase. It is the figure included in the Transfer (the legal deed which transfers the residence from one person to the other) and referred to as the 'consideration' or purchase price. You can report an error in the price paid figure using the LR online form. In most cases errors result from typos so at first glance the figure. Do report it so they can double check and advise.
I am looking for a leasehold apartment up to £195,000 and identified one round the corner in Belton I like with amenity areas and station nearby, the downside is that it only has 51 years on the lease. I can't really find anything else in Belton in this price bracket, so just wondered if I would be making a mistake buying a lease with such few years left?
Should you require a home loan the remaining unexpired lease term will be problematic. Reduce the offer by the expected lease extension will cost if not already taken into account. If the existing proprietor has owned the premises for a minimum of 2 years you may request that they commence the lease extension formalities and then assign it to you. You can add 90 years to the current lease term with a zero ground rent applied. You should consult your conveyancing lawyer regarding this matter.
I have been advised by numerous property agents in Belton to find a conveyancer on your site. What’s the financial inducement for Estate Agents to recommend your lawyers rather than another?
We refuse to offer any financial incentive for pointing buyers and sellers our way. We thought it would be too underhand to pay a commission because a client could think, ‘Why is the agent getting a kickback? Why am I not receiving any benefit too?’ So we decided to step away from that.
Expecting to complete next month on a studio apartment in Belton. Conveyancing lawyers inform me that they will have a report out to me within the next couple of days. Are there areas in the report that I should be focusing on?
Your report on title for your leasehold conveyancing in Belton should include some of the following:
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Who has the liability to repair and maintain the building. It is essential for you to know who is responsible the repair and maintenance of every part of the building Whether the landlord has obligations to ensure rights of quiet enjoyment over your property and do you know what it means in practice? You should have a good understanding of the insurance obligations The landlord’s rights to access the property. You should be made aware that your landlord has rights of access as well as be informed how much notice must be provided. Defining your rights in respect of the communal areas in the building.E.G., does the lease permit a right of way over a path or staircase?
I own a basement flat in Belton, conveyancing formalities finalised in 2007. Can you let me have an estimated range of the fair premium for a lease extension? Equivalent properties in Belton with an extended lease are worth £265,000. The ground rent is £50 invoiced annually. The lease runs out on 21st October 2101
With only 76 years left to run we estimate the premium for your lease extension to range between £8,600 and £9,800 as well as professional fees.
The suggested premium range above a general guide to costs for extending a lease, but we cannot give you a more accurate figure in the absence of comprehensive investigations. You should not use the figures in a Notice of Claim or as an informal offer. There may be other concerns that need to be considered and clearly you want to be as accurate as possible in your negotiations. Neither should you move forward placing reliance on this information before seeking the advice of a professional.
How easy is it to change a solicitor as I need to find a Belton based one who is on the lender conveyancing panel. How simple is it to change conveyancer?
In the event that you have not formally appointed a conveyancer to start work and at this stage simply received quotes, you're perfectly free to choose a different solicitor to carry out your work for you. The best way is to get recommendations from friends or family who have actually used the solicitor or conveyancer in Belton that you're thinking of instructing.