My wife and I are hoping to acquire a 1 bedroom apartment in Broad Haven with a mortgage. We like our Broad Haven lawyer, but the lender advise he's not on their "panel". It seems we have little option but to use one of the lender panel solicitors or keep our Broad Haven conveyancing practitioner as well as pay for one of their panel firms to act for them. We feel that this is inequitable; are we not able to insist that the mortgage company use our Broad Haven property lawyer ?
Unfortunately,no. The mortgage offered to you is subject to its terms and conditions, one of which will be that lawyers will on the bank’s conveyancing panel. Until recently, most lenders had large numbers of law firms on their panels: a borrower could choose one for themselves, as long as it was on the lender's panel. The lender would then simply instruct the borrower's lawyers to act for the lender, too. You can use your lender's panel lawyers or you could borrow from another lender which does not restrict your choice. A further alternative is for your Broad Haven conveyancing solicitor to apply to be on the conveyancing panel.
I had intended to instruct a conveyancing solicitor in Broad Haven for our home move. Our broker informed us that our mortgage company The Mortgage Works won't deal with them. Surely this is unfair competition?
Lenders ordinarily imposes restrictions either the type or the number of conveyancing practices on their panel. Typical examples of such criteria being that a law practice must not be a sole practitioner. In addition to restricting the type of firm, a few banks have reduced the number of firms they use to act for them. You should note that The Mortgage Works have no responsibility for the quality of advice provided by any member of The Mortgage Works Conveyancer Panel. Mortgage fraud was a primary driver in the reduction of conveyancing panels a few years ago even though there are differing views concerning the level of solicitor involvement in some of that fraud. Statistics from the Land Registry indicate that thousands of law firms, including some in or near Broad Haven only conduct one or two conveyances per annum.
How can the Landlord & Tenant Act 1954 impact my commercial offices in Broad Haven and how can your lawyers assist?
The 1954 Act provides a safeguard to business tenants, granting the right to apply to court for a new lease and remain in occupation at the end of an expired lease. There are certain specified grounds that a landlord can refuse a lease renewal and the rules are involved. We are happy to direct you to commercial conveyancing firms who use the act for protection and help with commercial conveyancing in Broad Haven
In surfing the internet for the term on line conveyancing in Broad Haven it shows results of numerous property lawyersin the area. With so much choice what is the best way to find the right property lawyer for my move?
The ideal way of choosing a suitable conveyancer is via personal recommendation, so enquire of colleagues and family who have acquired a property in Broad Haven or a reputable estate agent or financial adviser. Costs for conveyancing in Broad Haven vary, so it's a good idea to secure a minimum of four fee calculations from different property lawyers. Dont forget to clarify that the costs are guaranteed not to to be inflated.
I today plan to offer on a house that appears to tick a lot of boxes, at a great figure which is making it more attractive. I have just been informed that the title is leasehold as opposed to freehold. I would have thought that there are particular concerns buying a leasehold house in Broad Haven. Conveyancing advisers have are about to be instructed. Will my lawyers set out the risks of buying a leasehold house in Broad Haven ?
Most houses in Broad Haven are freehold rather than leasehold. This is one of the situations where having a local solicitor who is familiar with the area who can assist with the conveyancing process. It is clear that you are purchasing in Broad Haven so you should seriously consider looking for a Broad Haven conveyancing solicitor and check that they have experience in dealing with leasehold houses. As a matter of priority you will need to check the unexpired lease term. Being a lessee you will not be at liberty to do whatever you want to the property. The lease will likely included provisions such as obtaining the freeholder’spermission to conduct changes to the property. It may be necessary to pay a maintenance charge towards the upkeep of the estate where the house is part of an estate. Your conveyancer should appraise you on the various issues.
I own a leasehold flat in Broad Haven, conveyancing having been completed 4 years ago. How much will my lease extension cost? Comparable flats in Broad Haven with over 90 years remaining are worth £206,000. The average or mid-range amount of ground rent is £45 per annum. The lease ceases on 21st October 2091
With just 66 years remaining on your lease we estimate the premium for your lease extension to be between £11,400 and £13,200 plus costs.
The figure above a general guide to costs for extending a lease, but we cannot give you a more accurate figure in the absence of comprehensive due diligence. Do not use this information in tribunal or court proceedings. There are no doubt additional concerns that need to be taken into account and clearly you should be as accurate as possible in your negotiations. Neither should you move forward based on this information before seeking the advice of a professional.
I have chosen a Broad Haven conveyancing solicitor for our home move (FTB’s) and have noticed in the Ts and Cs that they are not regulated by the FCA. Am I right to be worried or is that usually the case with solicitor?
We can't see why they should be. Most conveyancing practitioner don't lend money. You should check that they are regulated by the SRA, who set strict stipulations in place on monies sitting in their bank.