Is the fact that my solicitor in Bognor Regis is not listed on my bank's solicitor panel that there is a problem with the standard of his work?
That is most likely an incorrect assumption to make. There are plenty of plausible explanations. A recent report by the solicitors regulator revealed 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. If you are concerned you should simply call the Bognor Regis conveyancing firm and ask them why they are no longer on the approved list for your bank.
I require conveyancing for an apartment in a fairly new development (6 years built) in Bognor Regis. 95% of the properties have already been occupied. Do I need carry out the neighbourhood searches for my conveyancing in Bognor Regis?
You are putting yourself at risk in refusing to carrying out Bognor Regis conveyancing searches. Without searches you have no clarity over flooding, environmental etc which may mean you walk away due to potential problems down the line. If you are buying mortgage free there is no legal necessity to have them, but we would seriously advise in no uncertain terms that you have them. If speed and expenses are top of your issues you should discuss with your lawyer about the options such as contingency insurance available to you
Does a directory service exist listing UBS panel conveyancers in Bognor Regis on the Building Society Association’s Website?
No. There is no such facility on the CML or Building Society Association websites. Very few lending institutions make their panel listings visible online. Where you are looking for a Bognor Regis solicitor on the UBS please use our facility.
We have agreed to purchase a house in Bognor Regis. One unusual aspect is that the roof has a solar panel. Solicitors conducting should look into this right? Will my lender RBS be concerned?
Given that your lender is RBS your lawyer must comply with the formal requirements set out in Section two of UK Finance Lenders’ Handbook for RBS. The CML Handbook sets out minimum provisions for solar panel roof-space leases, and solicitors are required to report to RBS where a lease fails to comply with these provisions. The specifications relate to the installation of panels on properties in England and Wales and is not isolated to Bognor Regis.
Completion of my purchase has taken place for my property in Bognor Regis. Conveyancing was satisfactory but I would like to complain about the lender. How do I make a complaint?
Most banks and building societies have complaints procedures. Your first point of contact should be one of the lender’s branches or the Customer Services Team at head office. We understand that complaints to a lender are resolved very quickly. However if you are not satisfied that the matter is not resolved you can write to Financial Ombudsman Service who will take matters further.
How does conveyancing in Bognor Regis differ for new build properties?
Most buyers of new build residence in Bognor Regis approach us having been asked by the developer to exchange contracts and commit to the purchase even before the premises is constructed. This is because developers in Bognor Regis usually acquire the real estate, plan the estate and want to get the plots sold off as they are building the properties. Buyers, therefore, will have to exchange contracts without actually seeing the house they are buying. To reduce the chances of losing the property, buyers should instruct conveyancing solicitors as soon as the property is reserved and mortgage applications should be submitted quickly. Due to the fact that it could be several months and even years between exchange of contracts and completion, the mortgage offer may need to be extended. It would be wise to use a lawyer who specialises in new build conveyancing especially if they are accustomed to new build conveyancing in Bognor Regis or who has acted in the same development.
Over the last few months I have been searching for a leasehold apartment up to £195,000 and found one close by in Bognor Regis I like with amenity areas and railway links in the vicinity, the downside is that it's only got 61 years unexpired on the lease. I can't really find anything else in Bognor Regis in this price bracket, so just wondered if I would be making a grave error purchasing a lease with such few years left?
If you need a mortgage the shortness of the lease will likely be an issue. Reduce the offer by the amount the lease extension will cost if it has not already been discounted. If the current proprietor has owned the premises for a minimum of 2 years you could request that they start the process of the extension and then assign it to you. An additional ninety years can be extended on to the current lease and have £0 ground rent by law. You should speak to your conveyancing solicitor about this.
I am attracted to a couple of apartments in Bognor Regis which have in the region of fifty years remaining on the leases. Do I need to be concerned?
A lease is a legal document that entitles you to use the property for a prescribed time frame. As the lease gets shorter the saleability of the lease deteriorates and results in it becoming more expensive to acquire a lease extension. This is why it is generally wise to extend the lease term. More often than not it is difficulties arise selling premises with a short lease as mortgage companies less inclined to grant a loan on such properties. Lease enfranchisement can be a difficult process. We advise that you get professional assistance from a conveyancer and surveyor with experience in this field.
Bognor Regis Conveyancing for Leasehold Flats - Examples of Queries Prior to buying
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Does the lease have onerous restrictions? How much is the ground rent and service charge? This question is helpful as a) areas may result in problems in the building as the communal areas may start to deteriorate where maintenance remain unpaid b) if the tenants have a dispute with the running of the building you will want to know about it