Is the fact that my solicitor in Bottesford is not listed on my bank's conveyancing panel that there is a problem with the standard of his work?
It would be unwise to jump to that conclusion. There are all sorts of perfectly plausible explanations. A recent report by the solicitors regulator revealed 76% of law firms surveyed had been removed from at least one lender panel. The top 5 reasons are as follows: (1) lack of transactions (2) the solicitor 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 contact the Bottesford conveyancing firm and enquire why they are no longer on the approved list for your lender.
Is there a list of Clydesdale panel solicitors in Bottesford on the Building Society Association’s Website?
Unfortunately not yet. There is no such facility on the Council of Mortgage Lenders or Building Society Association websites. A small selection of mortgage companies make their panel listings visible online. If you are seeking to appoint a Bottesford solicitor on the Clydesdale please make the most of our facility.
It is not clear whether my mortgage offer requires a lease extension. I have called my Bottesford bank branch on various occasions and was told it wasn't a problem and they would lend. My Bottesford conveyancing solicitor - who is on the bank conveyancing panel- telephoned to say that they refuse to lend in accordance with their UK Finance Lenders’ Handbook minimum lease term requirements. I simply don't know who is right.
The lawyer has to follow the Council of Mortgage Lenders’ Handbook section two specifications for your lender. Unless your lawyer obtains specific confirmation in writing that the mortgage company will go ahead, your lawyer has no choice but to refrain from exchanging contract and committing you to the purchase. We would suggest that you ask the bank to contact your lawyer in writing confirming that they will accept the number of years left on the lease.
After what seems like an age I have had an offer on an apartment in Bottesford accepted, the owners do nevertheless have an associated purchase. The owners have offered on a flat, however it’s not been accepted yet, and are looking at other flats booked. I have chosen a local conveyancing solicitor in Bottesford. What should be my next step? At what stage do I apply for the mortgage with Santander?
It is usual to have concerns where there is a chain as you are unlikely to want to incur expenses prematurely (mortgage application is approx one thousand pounds, then valuation, Bottesford conveyancing search charges, etc). First, you should ensure that your solicitor is on the Santander conveyancing panel. As to the subsequent stages this very much depends on the uniqueness of your transaction, motivation for the property and on the state of the market. In a rising market the majority of home buyers would apply for the mortgage with Santander and pay for the valuation and only if it was satisfactory would they request their lawyer to press on with searches.
I have been told that property searches are the number one cause of delay in Bottesford conveyancing transactions. Is there any truth in this?
The Council of Property Search Organisations (CoPSO) published findings of research by MoveWithUs that conveyancing searches do not figure within the top 10 causes of delays during the legal transfer of property. Local searches are not likely to feature in any slowing down conveyancing in Bottesford.
I've recently found out that there is a flying freehold element on a property I have offered on a fortnight ago in what should have been a straight forward, chain free conveyancing. Bottesford is where the house is located. Can you shed any light on this issue?
Flying freeholds in Bottesford are rare but are more likely to exist in relation to terraced houses. Even though you don't necessarily need a conveyancing solicitor in Bottesford you must be sure that your lawyer goes through the deeds very carefully. Your lender may require your conveyancing solicitor to take out an indemnity policy. Some of the more diligent conveyancing solicitors in Bottesford may determine that this is not enough and that the deeds be re-written to give you the most up to date legal protection. If so, the next door neighbour also had to sign up to the revised deeds.It is possible that your lender will not accept the situation so the sooner you find out the better. You should also check with your insurance broker as to whether they will insure a flying freehold premises.
I need to instruct a conveyancing solicitor for sale conveyancing in Bottesford. I've stumble upon a site which appears to be the ideal offering If there is a chance to get all the legals completed via email that would be preferable. Should I be concerned? What are the potential pitfalls?
As usual with these online conveyancers you need to read ALL the small print - did you notice the extra charge for dealing with the mortgage?
I am in need of some leasehold conveyancing in Bottesford. Before I set the wheels in motion I would like to find out the remaining lease term.
Assuming the lease is recorded at the land registry - and 99.9% are in Bottesford - then the leasehold title will always include the basic details of the lease, namely the date; the term; and the original parties. From a conveyancing perspective such details then enable any prospective buyer and lender to confirm that any lease they are looking at is the one relevant to that title. For any other purpose, such as confirming how long the term was granted for and calculating what is left, then the register should be sufficient on it's own.
I purchased a studio flat in Bottesford, conveyancing having been completed in 2003. Can you give me give me an indication of the likely cost of a lease extension? Comparable properties in Bottesford with a long lease are worth £211,000. The average or mid-range amount of ground rent is £45 levied per year. The lease ends on 21st October 2092
With 67 years left to run we estimate the price of your lease extension to span between £10,500 and £12,000 plus costs.
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. Do not use this information in tribunal or court proceedings. There are no doubt other concerns that need to be considered and you obviously want to be as accurate as possible in your negotiations. You should not take any other action placing reliance on this information without first seeking the advice of a professional.