I am nearing exchange of contracts for my ground floor flat in Chipping Sodbury and the estate agent has just called to warn that the purchasers are switching solicitor. The reason given is that the mortgage company will only work with property lawyers on their approved list. On what basis would a leading mortgage company only deal with specific law firms rather the firm that they want to appoint to handle their conveyancing in Chipping Sodbury ?
Lenders have always had panels of law firms they are content to work with, but in the past few years big names such as Yorkshire Building Society, have reviewed and reduced their conveyancing panel– in some cases removing conveyancing firms who have worked with them for decades.
Lenders justify this action to a rise in fraud by way of justification for the reduction – criteria have been stiffened as a smaller panel is easier to monitor. Banks tend not to reveal how many solicitors have been dropped, claiming the information is commercially sensitive, but the Law Society says it is being contacted daily by practices that have been removed from panels. Some are unaware that they have been dropped until contacted by a borrower who has instructed them as might be the situation in your buyers' case. The purchasers are unlikely to have any sway in the decision.
My wife and I have lately purchased a house in Chipping Sodbury. We have since encountered a number of problems with the property which we believe were omitted in the conveyancing searches. What action can we take? What searches should? have been ordered for conveyancing in Chipping Sodbury?
The query is vague as what problems have arisen and if they are specific to conveyancing in Chipping Sodbury. Conveyancing searches and investigations undertaken as part of the legal transfer of property are carried out to help avoid problems. As part of the legal transfer of property, a seller fills in a questionnaire known as a SPIF. If the information ends up being incorrect, you could possibly take legal action against the seller for any losses that you have suffered. The survey should have identified any problems with the structure of the property. Assuming a detailed survey was carried out and the issues were not identified, you may have a claim against the surveyor. However, if you did not have a full survey, you may be responsible for fixing any defects that have now been noted. We would always encourage buyers to take every possible step to ensure they are completely aware of the condition of a property before purchase regardless of whether they are buying in Chipping Sodbury.
We are purchasing a flat and need a conveyancing solicitor in Chipping Sodbury who is on the Coventry BS conveyancing panel. Could you point me in the right direction as regards a conveyancing firm?
Our service is limited to being a directory service for firms who wish to be listed as being on the approved conveyancing panel for Coventry BS . We don't recommend any particular firms conducting conveyancing in Chipping Sodbury.
My colleague recommended that if I am purchasing in Chipping Sodbury I should ask my conveyancer to execute a Neighbourhood, Planning and Local Amenity Search. Can you explain what the purpose of this search is?
A search of this type is usually included in the estimate for your Chipping Sodbury conveyancing searches. It is not a small document of about 40 pages, listing and detailing important information about Chipping Sodbury 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 House Prices, Crime statistics, Chipping Sodbury Education with plans and statistics, Local Amenities and other useful information regarding Chipping Sodbury.
I am buying a new build flat in Chipping Sodbury. Conveyancing is daunting at the best of times but I have never purchased a new build flat before. Can you give me some examples of some of the questions asked in new build legal work.
Here are examples of a few leasehold new build questions that you should expect your new-build leasehold conveyancing in Chipping Sodbury
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Forfeiture - bankruptcy or liquidation must not apply under this provision. Please supply a car parking plan. Where service of notices and proceedings can be at the property demised please confirm that this can be amended to include simultaneous services at the Lessees’ solicitors’ offices where the Lessee from time to time is not resident in the UK - such solicitors may be varied by notice in writing to the Landlord from time to time but otherwise will be as previously specified. Please confirm the Lease plans are surveyor prepared. The Vendor must covenant to keep unsold units in good repair until long leases are granted therefore.
Can you offer any advice when it comes to appointing a Chipping Sodbury conveyancing firm to carry out our lease extension conveyancing?
If you are instructing a solicitor for your lease extension (regardless if they are a Chipping Sodbury conveyancing practice) it is imperative that he or she should be familiar with the legislation and specialises in this area of conveyancing. We suggest that you make enquires with several firms including non Chipping Sodbury conveyancing practices before you instructing a firm. If the firm is ALEP accredited then so much the better. The following questions could be helpful:
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Can they put you in touch with clients in Chipping Sodbury who can give a testimonial? What are the legal fees for lease extension conveyancing?
I own a split level flat in Chipping Sodbury, conveyancing was carried out half a dozen years ago. Can you work out an approximate cost of a lease extension? Corresponding properties in Chipping Sodbury with over 90 years remaining are worth £211,000. The average or mid-range amount of ground rent is £45 per annum. The lease ceases on 21st October 2093
You have 67 years remaining on your lease we estimate the price of your lease extension to span between £10,500 and £12,000 plus professional fees.
The figure above a general guide to costs for extending a lease, but we are not able to advice on the actual costs without more comprehensive due diligence. Do not use this information in a Notice of Claim or as an informal offer. There are no doubt other concerns that need to be taken into account and you obviously want to be as accurate as possible in your negotiations. Please do not move forward based on this information without first getting professional advice.