Am I correct in assuming that the fact that my solicitor in Chipping Norton is not identified on my lender's solicitor 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. A recent report by the solicitors regulator indicated 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) low volume 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. Where you are concerned you should contact the Chipping Norton conveyancing practice and ask them why they are no longer on the approved list for your bank.
I purchased a freehold house in Chipping Norton but nevertheless charged rent, why is this and what is this?
It is rare for properties in Chipping Norton and has limited impact for conveyancing in Chipping Norton but some freehold properties in England (particularly common in North West England) pay an annual sum known as a Chief Rent or a Rentcharge to a third party who has no other legal interest in the land.
Rentcharge payments are usually between £2.00 and £5.00 per year. Rentcharges date back hundreds of years, but the Rent Charge Act 1977 barred the creation of fresh rentcharges from 1977 onwards.
Old rentcharges can now be extinguished by making a lump sum payment under the Act. Any rentcharges that are still in existence after 2037 will be extinguished.
It is unclear whether my bank requires a lease extension. I have called my Chipping Norton building society branch on numerous occasions and was informed it wasn't a problem and they would lend. My Chipping Norton conveyancing solicitor - who is on the bank conveyancing panel- called to say that they will not lend based on their specific requirements. I have no idea who is right.
Your conveyancing practitioner has to follow the Council of Mortgage Lenders’ Handbook Part 2 requirements for your bank. 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 remaining.
I am due to exchange contracts on my house. I had a double glazing fitted in July 2006, but did not receive a FENSA certificate or Building Regulation Certificate. My buyer's mortgage company, Coventry BS are being pedantic. The Chipping Norton solicitor who is on the Coventry BS conveyancing panel is saying indemnity insurance will be fine but Coventry BS are requiring a building regulation certificate. Why do Coventry BS have a conveyancing panel if they don't accept advice from them?
It is probably the case that Coventry BS have referred the matter to their valuer. The reason why Coventry BS 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.
At last I have had an offer on an apartment in Chipping Norton accepted, but there is a chain. The vendors have offered on a flat, however it’s not yet tied up, and are looking at other properties booked. I have chosen a nearby conveyancing solicitor in Chipping Norton. What do I do now? At what point do I apply for the mortgage with Bank of Ireland?
It is normal to have anxieties where there is a chain as you are unlikely to want to incur costs too early (mortgage application is in the region of £1k, then survey, Chipping Norton conveyancing search costs, etc). First, you should ensure that your conveyancer is on the Bank of Ireland conveyancing panel. Regarding the next stages this very much depends on the uniqueness of your transaction, desire for the property and on the state of the market. During a rising market many purchasers will apply for a home loan with Bank of Ireland and arrange for the valuation and only if it was satisfactory would they pay their property lawyer to move forward with the conveyancing in Chipping Norton.
My relative advised me that where I am buying in Chipping Norton I should ask my conveyancer to carry out a Neighbourhood, Planning and Local Amenity Search. What does it cover?
This is a search is usually quoted for as part of the standard Chipping Norton conveyancing searches. It is not a small report of about 40 pages, listing and setting out important information about Chipping Norton around the property and the people living there. It includes an Aerial Photograph, Planning Applications, Land Use, Mobile Phone Masts, Rights of Way, the local Housing Market, Council Tax Banding, the demographics of People living in the area, the dominant type of Housing, the Average Property Price, Crime statistics, Local Education with plans and statistics, Local Amenities and other useful information concerning Chipping Norton.
As co-executor for the estate of my grandmother I am selling a residence in Monmouth but live in Chipping Norton. My lawyer (who is 300 kilometers from mehas requested that I execute a statutory declaration ahead of the transaction finalising. Could you suggest a conveyancing solicitor in Chipping Norton to witness this legal document for me?
Technically speaking you should not be required to have the documents attested by a conveyancing solicitor. Normally or notary public or qualified solicitor will do regardless of whether they are Chipping Norton based
I today plan to offer on a house that appears to meet my requirements, at a reasonable figure which is making it more attractive. I have since been informed that it's a leasehold rather than freehold. I would have thought that there are issues buying a house with a leasehold title in Chipping Norton. Conveyancing advisers have not yet been instructed. Will my lawyers set out the risks of buying a leasehold house in Chipping Norton ?
The majority of houses in Chipping Norton 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 Chipping Norton so you should seriously consider shopping around for a Chipping Norton conveyancing solicitor and be sure that they have experience in dealing with leasehold houses. As a matter of priority you will need to check the unexpired lease term. As a lessee you will not be entirely free to do whatever you want with the house. The lease will likely included provisions such as requiring the landlord’spermission to carry out alterations. You may also be required to pay a contribution towards the upkeep of the estate where the property is part of an estate. Your conveyancer should advise you fully on all the issues.
I inherited a ground floor flat in Chipping Norton, conveyancing was carried out in 2010. Can you give me give me an indication of the likely cost of a lease extension? Similar properties in Chipping Norton with a long lease are worth £185,000. The ground rent is £65 invoiced every year. The lease finishes on 21st October 2086
With just 61 years remaining on your lease we estimate the price of your lease extension to span between £18,100 and £20,800 plus plus your own and the landlord's "reasonable" professional fees.
The suggested premium range above a general guide to costs for extending a lease, but we cannot give you a more accurate figure in the absence of detailed investigations. Do not use this information in a Notice of Claim or as an informal offer. There may be other issues that need to be taken into account and you obviously want to be as accurate as possible in your negotiations. You should not move forward placing reliance on this information before seeking the advice of a professional.