Am I correct in assuming that the fact that my solicitor in Bispham is not listed on my mortgage company's solicitor panel that there is a problem with the quality of his work?
It would not be wise to jump to that conclusion. There are all sorts of perfectly plausible explanations. A recent report by the solicitors regulator indicated that over three quarters of law firms surveyed had been removed from at least one lender panel. The most common reasons for removal are: (1) low volume of transactions (2) the lawyer is a sole practitioner (3) as part of the HSBC panel reduction (4) regulatory contact by SRA (5) accidental removal. Where you are concerned you should simply call the Bispham conveyancing practice and ask them why they are no longer on the approved list for your mortgage company.
This question may be naive but I am unseasoned as a first time buyer of a two bedroom flat in Bispham. Do I collect the keys to the property on the completion date from my solicitor? If so, I will find a local conveyancing solicitor in Bispham?
There is no need to visit the lawyers office on the day of completion. Your solicitors will electronically transfer the purchase money to the seller's conveyancers, and once they have received this, you should be invited to receive the keys from the selling Agents and move into your new home. Usually this occurs between 1 and 3pm.
Is it the case that all Bispham solicitor firms on the HSBC conveyancing panel are regulated by the Solicitors Regulatory Authority?
As solicitors, in order to be on the HSBC approved list of solicitors they would need to be overseen by the Solicitors Regulatory Authority. Some mortgage companies do permit licenced conveyancers on their panel in which case such practice would be overseen by the CLC.
I've digested plenty of house buying guides, I note that it is considered advisable to get your house surveyed prior to buying it. When I asked my local Bispham solicitor - who is on the UBS conveyancing panel - on this she said they don't do this and I need to contract an independent surveyor. is that correct?
UBS will need an independent valuation of the property. Your lawyer will not arrange this. Usually UBS will appoint their own surveyor to do this, and you will have to pay for it. Remember that this is a valuation for mortgage purposes and not a survey. Your lawyer will not organise the survey but they may be able to put you in touch with a local one that they recommend. RICS offers a find a surveyor service (just google it) where you can search for a qualified surveyor by your Bispham postcode. As you are getting a mortgage with UBS, you could contact them to see if they have a list of approved surveyors in Bispham.
I have recentlydiscovered that Arc property Solicitors have closed. They carried out my conveyancing in Bispham for a purchase of a leasehold apartment 9 months ago. How can I check that the property is not still registered in the name of the previous owner?
The easiest way to check if the property is in your name, you can carry out a search of the land registry (£3.00). You can either do this yourself or ask a law firm to do this for you. If you are not registered you can seek help from one of a number of Bispham conveyancing specialists.
I have been on the look out for a flat up to £235,500 and found one near me in Bispham I like with open areas and railway links in the vicinity, however it only has 51 years on the lease. There is not much else in Bispham suitable, so just wondered if I would be making a grave error buying a lease with such few years left?
If you require a mortgage that many years will be a potential deal breaker. Reduce the offer by the anticipated lease extension will cost if it has not already been discounted. If the current proprietor has owned the premises for a minimum of twenty four months you can ask them to commence the lease extension formalities and pass it to you. You can add 90 years to the existing lease term with a zero ground rent applied. You should speak to your conveyancing solicitor concerning this.
I'm remortgaging my existing property to a BTL mortgage with Yorkshire Building Society and intend to use the remaining equity as a deposit on further property. The area we are interested in is Bispham. Will your lawyers be able to act for the two lenders and tie in the conveyances?
Do use our comparison tool on this site to check that the lawyers are approved by both mortgage companies. On the basis that they are the solicitor will be able to connect the two conveyancing matters but you should have a chat with you conveyancer and communicate your desired outcome and needs.
Planning to exchange soon on a leasehold property in Bispham. Conveyancing solicitors assured me that they are sending me a report within the next couple of days. Are there areas in the report that I should be focusing on?
The report on title for your leasehold conveyancing in Bispham should include some of the following:
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Who has the liability for maintaining the window frames You should have a good understanding of the building insurance requirements The physical ownership of the property. This may be the apartment itself but could also include a attic or cellar if appropriate. You would want to be sent a copy of the lease
I am the registered owner of a 1 bedroom flat in Bispham, conveyancing was carried out June 2004. Can you shed any light on how much the price could be for a 90 year extension to my lease? Equivalent flats in Bispham with over 90 years remaining are worth £180,000. The average or mid-range amount of ground rent is £65 invoiced annually. The lease ceases on 21st October 2083
With 58 years remaining on your lease the likely cost is going to range between £22,800 and £26,400 as well as plus your own and the landlord's "reasonable" professional fees.
The suggested premium range above a general guide to costs for extending a lease, but we are not able to supply the actual costs without more detailed investigations. You should not use the figures in a Notice of Claim or as an informal offer. There are no doubt additional issues that need to be taken into account and clearly you should be as accurate as possible in your negotiations. Please do not take any other action based on this information without first getting professional advice.