Is the fact that my conveyancer in Broseley is not on my bank's conveyancing panel that there is a problem with the quality of her work?
That is most likely a wrong assumption to make. There are plenty of plausible explanations. Just recently a report by the solicitors regulator revealed that over three quarters 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 lawyer is a sole practitioner (3) as part of the HSBC panel reduction (4) regulatory contact by SRA (5) accidental removal. Should you be concerned you should simply call the Broseley conveyancing firm and enquire why they are no longer on the approved list for your lender.
Some advice if I may. My Broseley conveyancer is informing me me that he has toconduct Broseley conveyancing searches asthe firm are on the Nat Westapproved lawyer panel. These Broseley checks cost a lot of money can this be avoided?
You have limited options available to you. Given that you are taking out a loan with a lender your property lawyer has to comply with their conditions as set out in their version of the CML Conveyancing Handbook. Your property lawyer would have previously signed the Terms and Conditions of your bank’s conveyancing panel appointment which obliges them to comply with the Council of Mortgage Lenders’ Handbook conditions . Even if you were a cash buyer you would be ill advised not to carry out Broseley conveyancing searches.
I just bought a house at auction in Broseley. Conveyancing is necessary. What happens now?
Having to all intents and purposes signed on the dotted line you now have to choose a conveyancing solicitor as a matter of priority as you are faced with a tight deadline in which to complete the transaction. All auction property will ordinarily have a bespoke auction pack. This should include evidence of title and search results. In the case of leasehold premises the auction pack may contain a copy of the lease, management information and a sellers leasehold information form and associated conveyancing paperwork pertinent to leasehold premises. You need to pass this on to the solicitor working for you ASAP. You also need to ensure that your finances are organised to complete on the date specified in the contract.
We were going to get a AIP from Co-operative this week so we know how much we could potentially offer as otherwise we are dependent on web based calculators (which aren't taking into account credit checks etc). Do Co-operative recommend any Broseley solicitors on the Co-operative conveyancing panel, or is it better to find our own lawyer?
You will need to appoint Broseley solicitors independently although you'll need to choose one on the Co-operative conveyancing panel. The solicitor represents both you and Co-operative through the process.
I am due to exchange contracts on my flat. I had a double glazing fitted in December 2007, but did not receive a FENSA certificate or Building Regulation Certificate. My purchaser’s mortgage company, Virgin Money are being difficult. The Broseley solicitor who is on the Virgin Money conveyancing panel is saying indemnity insurance will be fine but Virgin Money are insisting on a building regulation certificate. Why do Virgin Money have a conveyancing panel if they don't accept advice from them?
It is probably the case that Virgin Money have referred the matter to their valuer. The reason why Virgin Money may not want to accept indemnity insurance is because it does not give them any reassurance that the double glazing was correctly and safely installed. The indemnity insurance merely protects against enforcement action which is very unlikely anyway.
The deeds to our house are lost. The conveyancers who did the conveyancing in Broseley 10 years ago no longer exist. What are my next steps?
As long as the title is registered the information relating to your ownership will be held by the Land Registry under a Title Number. It is possible to execute a search at the Land Registry, find your property and secure up to date copies of the property title for less than a fiver. Where the property is Leasehold then the Land Registry will also normally retain a certified copy of the Registered Lease and again, a copy can be retrieved for a small fee.
Yesterday I discovered that there is a flying freehold element on a property I have offered on two weeks back in what should have been a straight forward, chain free conveyancing. Broseley is the location of the property. Can you offer any opinion?
Flying freeholds in Broseley are rare but are more likely to exist in relation to terraced houses. Even though you don't necessarily need a conveyancing solicitor in Broseley you must be sure that your lawyer goes through the deeds diligently. Your mortgage company may require your conveyancing solicitor to take out an indemnity policy. Some of the more diligent conveyancing solicitors in Broseley may ascertain 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 have recently realised that I have 68 years left on my flat in Broseley. I am keen to get lease extension but my freeholder is absent. What options are available to me?
On the basis that you qualify, under the Leasehold Reform, Housing and Urban Development Act 1993 you can apply to the County Court for for permission to dispense with the service of the initial notice. This will enable the lease to be extended by the magistrate. However, you will be required to prove that you have made all reasonable attempts to find the landlord. On the whole a specialist would be helpful to carry out a search and to produce an expert document to be used as evidence that the freeholder is indeed missing. It is advisable to get professional help from a conveyancer both on proving the landlord’s absence and the vesting order request to the County Court overseeing Broseley.
I acquired a 1 bedroom flat in Broseley, conveyancing having been completed in 2010. Can you let me have an estimate of the premium that my landlord can legally expect in return for granting a renewal of my lease? Corresponding properties in Broseley with an extended lease are worth £222,000. The average or mid-range amount of ground rent is £50 per annum. The lease expires on 21st October 2095
With just 70 years left to run we estimate the premium for your lease extension to span between £9,500 and £11,000 as well as legals.
The suggested premium range above a general guide to costs for renewing a lease, but we cannot give you a more accurate figure without more detailed due diligence. You should not use the figures in a Notice of Claim or as an informal offer. There may be additional issues that need to be taken into account and you obviously want to be as accurate as possible in your negotiations. You should not take any other action based on this information before getting professional advice.