Am I correct in assuming that the fact that my conveyancer in Carterton is not on my lender's solicitor panel that there is a problem with the standard of his conveyancing?
It would not be wise to jump to that conclusion. There are plenty of 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 most common reasons for removal are: (1) low volume 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 Carterton conveyancing practice and ask them why they are no longer on the approved list for your lender.
AssumingI was to buy a freehold homein Carterton mortgage fee and dispense with a survey and no local authority searches how much should I expect to have to pay for conveyancing in Carterton?
Any savings you would achieve will be limited to the Carterton conveyancing searches. The property lawyer is required to do the vast majority of work - money laundering, communicating with the sellers property lawyer, SDLT return, register the ownership etc. A slight saving might be made by not having to register a charge however it won't be meaningful.
A friend pointed out to me me that in buying a property in Carterton there could be various restrictions preventing external changes to a property. Is this right?
There are a number of properties in Carterton which have some sort of restriction or requirement of consent to execute external alterations. Part of the conveyancing in Carterton should determine what restrictions are applicable and advising you as part of a ROT that should be sent to you.
It is not clear whether my bank requires a lease extension. I have telephoned my Carterton building society branch on various occasions and was told they are content with the situation and they will lend. My Carterton conveyancing solicitor - who is on the mortgage company conveyancing panel- called to say that they refuse to lend in accordance with their UK Finance Lenders’ Handbook minimum lease term requirements. I have no idea who is right.
As long as the conveyancing practitioner is on the lender approved list, she or he must adhere to the Council of Mortgage Lenders’ Handbook specifications for the bank. Unless your lawyer obtains specific confirmation in writing that the lender 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 lender to contact your lawyer in writing confirming that they will accept the number of years left on the lease.
After shopping around on the internet I have found a Carterton conveyancer having checked that they are on the Kent Reliance conveyancing panel. Does my lawyer arrange the survey of the property?
Kent Reliance will need an independent valuation of the property. Your lawyer will not arrange this. Usually Kent Reliance will appoint their own surveyor to do this, and you will have to pay for it. Remember that this is a valuation for mortgage purposes and not a survey. Your conveyancing practitioner will not organise the survey but they may be able to put you in touch with a local one that they recommend. RICS offers a find a surveyor service (just google it) where you can search for a qualified surveyor by your Carterton postcode. As you are getting a mortgage with Kent Reliance, you could contact them to see if they have a list of approved surveyors in Carterton.
I require quick conveyancing in Carterton as I have a deadline to exchange contracts in less than one month. A mortgage is not required. Is it possible to decline from having conveyancing searches to save fees and time?
If.Given you are are a cash purchaser you have the choice not to do searches although no solicitor would recommend that you don't. Drawing on years of experience of conveyancing in Carterton the following are instances of what can appear and therefore impact market value: Refused Planning Applications, Overdue Fees, Overdue Grants, Unadopted Roads,...
I have been on the look out for a ground for flat up to £305k and identified one round the corner in Carterton I like with open areas and station nearby, the downside is that it's only got 61 years on the lease. I can't really find anything else in Carterton for this price, so just wondered if I would be making a mistake buying a short lease?
Should you need a mortgage the shortness of the lease will be problematic. Discount the offer by the anticipated lease extension will cost if it has not already been discounted. If the existing proprietor has owned the premises for a minimum of twenty four months you can request that they commence the lease extension formalities and pass it to you. An additional ninety years can be extended on to the existing lease term and have £0 ground rent by law. You should consult your conveyancing solicitor about this matter.
What does commercial conveyancing in Carterton cover?
Commercial conveyancing in Carterton incorporates a broad range of advice, offered by regulated solicitors, relating to business property. By way of example, this area of conveyancing can cover the sale or purchase of freehold business premises or, more usually, the assignment of existing leases or the drafting of new leasing arrangements. Commercial conveyancing solicitors can also offer advice on the sale of business assets, commercial loans and the termination of leases.