Having invested time reviewing online forums for an online solicitor in Bolton, many say that I must instruct a CQS kitemarked solicitor. Can you explain what CQS is?
The Law Society's Conveyancing Quality Scheme is the recognised quality mark for legal experts in home moving process, trusted by some of the UK's biggest mortgage companies. In 2011-12 the Conveyancing Quality Scheme was officially recognised by the Association of British Insurers (ABI). CQS is not a scheme offered by the Council of Licensed Conveyancing. Bolton is one of the numerous areas in England and Wales where there are Accredited lawyers.
We have a mortgage agreed in principle with Virgin Money. Bolton conveyancing lawyers were selected. How long does it take for Virgin Money to forward the offer to the lawyer?
Some lenders take longer than others. Have Virgin Money completed the valuation? Have you informed Virgin Money as to your lawyers' details and checked that your lawyers are on the Virgin Money conveyancing panel? Sometimes it can take as long as six weeks for a mortgage offer to be issued.
My wife and I are in the throws of viewing flats in Bolton and I am about to put in an offer. Is it too early to have a solicitor in place? I will be getting a home loan with Bank of Ireland.
You should start requesting conveyancing estimates from solicitors ASAP. After you have chosen your lawyer and once your offer is accepted you can instruct them to work for you and forward their contact information on to the EA. Given that you are seeking a mortgage with Bank of Ireland, ask your prospective lawyers if they are on the Bank of Ireland conveyancing panel otherwise they can't do the mortgage legal work.
I have paid off my mortgage with Santander. I assume I don't need a Bolton lawyer on the Santander panel to remove the mortgage at the Land Registry. Please confirm.
If you have finished paying off your Santander mortgage, they may send you evidence showing that you have paid it off. Alternatively they may notify the Land Registry directly. The Land Registry need to see this evidence before they will remove the Santander mortgage from the register. Santander, and any evidence they send you, will determine the action you need to take. In cases where no conveyancer is acting for you and you have paid off your mortgage:
- but are not moving to another property
- where Santander has sent the Land Registry the discharge electronically, and
- Santander has instructed the Land Registry to do so
How does conveyancing in Bolton differ for new build properties?
Most buyers of new build or newly converted property in Bolton approach us having been asked by the housebuilder to sign contracts and commit to the purchase even before the house is finished. This is because builders in Bolton typically 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 Bolton or who has acted in the same development.
I am looking for a flat up to £245,000 and identified one near me in Bolton I like with a park and station nearby, the downside is that it only has 52 remaining years left on the lease. I can't really find anything else in Bolton in this price bracket, so just wondered if I would be making a grave error purchasing a lease with such few years left?
Should you need a home loan the remaining unexpired lease term will be problematic. 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 property for a minimum of 2 years you could ask them to start the process of the extension and then assign it to you. You can add 90 years to the current lease term with a zero ground rent applied. You should speak to your conveyancing lawyer about this.
I am looking for a conveyancing lawyer in Bolton for my purchase. Is it possible to check a solicitor's complaints history with the legal regulator?
One can review published Solicitor Regulator Association (SRA) decisions arising from investigations from 2008 onwards. Visit Check a solicitor's record. For information Pre 2008, or to check a firm's record, phone 0870 606 2555, 08.00 - 18.00 any week day save for Tuesday when lines open at 9.30am. For non-uk callers, dial +44 (0)121 329 6800. The regulator sometimes monitor telephone calls for training reasons.
Estate agents have just been given the go-ahead to market my basement flat in Bolton. Conveyancing solicitors are to be appointed soon, but I have recently received a quarterly maintenance charge invoice – what should I do?
Your conveyancing lawyer is likely to suggest that you should discharge the invoice as you normally would because all ground rent and maintenance charges should be allotted on completion, so you should recover the relevant percentage by the buyer for the period running from after the completion date to the subsequent invoice date. Most management companies will not acknowledge the buyer unless the service charges have been paid and are up to date, so it is important for both buyer and seller for the seller to show that they are up to date. Having a clear account will assist your cause and will leave you no worse off financially.
I invested in buying a 2 bed flat in Bolton, conveyancing was carried out July 2007. Can you please calculate a probable premium for a statutory lease extension? Corresponding flats in Bolton with a long lease are worth £211,000. The average or mid-range amount of ground rent is £45 levied per year. The lease terminates on 21st October 2093
You have 68 years left to run we estimate the premium for your lease extension to range between £9,500 and £11,000 as well as plus your own and the landlord's "reasonable" professional fees.
The figure above a general guide to costs for extending a lease, but we are not able to supply a more accurate figure without more comprehensive investigations. You should not use this information in a Notice of Claim or as an informal offer. There may be other concerns that need to be considered and you obviously should be as accurate as possible in your negotiations. You should not take any other action based on this information before seeking the advice of a professional.