My wife and I are looking to buy a property in Clayton and are in fact using a Clayton conveyancing practice. Within the last couple of days our solicitor has sent a preliminary report and documents to look through in anticipation of exchanging contracts shortly. Platform Home Loans Ltd have this morning contacted us to inform me that there is now an issue as our Clayton solicitor is not on their conveyancing panel. What do we do from here?
Where you are buying a property with the assistance of a mortgage it is conventional for the purchasers' lawyers to also act for the mortgage company. In order to act for a bank or building society a law firm has to be on that lender's conveyancing panel. An application has to be made by the law firm to the lender to become a member of the lender's panel and there are increasingly strict criteria which the firm has to satisfy and indeed some lenders now require their panel members to be part of the Law Society’s Conveyancing Quality Scheme. Your property lawyer should contact your bank and see if they can apply for membership of their conveyancing panel, but if that is not viable they will instruct their own lawyers to represent them. You are not legally obliged to appoint a law firm on the bank's conveyancing panel and you may continue to use your own Clayton solicitors, in which case your legal fees may increase, and it may delay matters as you have another set of people involved.
Is it realistic for conveyancing in Clayton to be finalised inside 3 weeks?
In the event that you are under pressure to sign contracts it is highly recommended that your conveyancer is familiar with the area as they will make use of local connections and knowledge. It is possible that they would have conducted otherhomes in the same road. Therefore consider using a Clayton conveyancing lawyer. Second, ensure that the conveyancing firm is on the member panel. It is understood that just under twenty per cent of Clayton conveyancing transactions are held up or derailed after finding out that a purchaser’s lawyer was not on their mortgage lender’s member panel. In many cases this discovery resulted in the buying process being delayed by an average of three weeks. It is understood that this issue affects in the region of 100,000 home sales annually. Many Clayton conveyancing practices can not represent certain mortgage companies so do check at the outset.
The deeds to our house can not be found. The lawyers who dealt with the conveyancing in Clayton 10 years ago no longer exist. What do I do?
You no longer need to hold title deeds to evidence that you own the land or premises, given that the Land Registry have everything they need in a digital format.
I am looking into buying my first house which is in Clayton and I am already nervous. I couldn't find anything specific about Clayton. Conveyancing will be needed in due course but do you know about the Clayton area? or perhaps some other tips you can share?
Rather than looking online forget looking online you should go and have a look at Clayton. In the meantime here are some basic statistics that we found
We're first time buyers - had an offer accepted, yet the estate agent advised that the vendor will only issue a contract if we use the agent's recommended lawyers as they need a ‘quick sale’. We would rather use a local conveyancer who is accustomed to conveyancing in Clayton
We suspect that the seller is unaware of this ultimatum. Should the owner desire ‘a quick sale', alienating a serious buyer is going to damage their objectives. Bypass the agents and go straight to the owners and make the point that (a)you are serious purchasers (b)you are ready to go, with finances in place © you are chain free (d) you wish to move quickly (e)but you are going to instruct your preferred Clayton conveyancing solicitors - not the ones that will earn their negotiator at the agency a commission or achieve conveyancing figures pre-set by corporate headquarters.
Our conveyancer has advised that he intends to complete and exchange simultaneously on the sale of our £350,000 apartment in Clayton in just under a week. The management company has quoted £336 for Landlord’s certificate, building insurance schedule and previous years service charge statements. Is it legal for a freeholder to charge an administration fee for a leasehold conveyance in Clayton?
Clayton conveyancing on leasehold apartments ordinarily involves fees being levied by managing agents :
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Addressing pre-contract questions
Where consent is required before sale in Clayton
Supplying insurance information
Deeds of covenant upon sale
Registering of the assignment of the change of lessee after a sale
I invested in buying a studio flat in Clayton, conveyancing having been completed half a dozen years ago. Can you please calculate a probable premium for a statutory lease extension? Comparable properties in Clayton with an extended lease are worth £190,000. The average or mid-range amount of ground rent is £45 invoiced every year. The lease ceases on 21st October 2087
With just 62 years remaining on your lease we estimate the premium for your lease extension to be between £17,100 and £19,800 plus professional fees.
The suggested premium range above a general guide to costs for extending a lease, but we cannot give you the actual costs without more detailed investigations. You should not use this information in tribunal or court proceedings. There may be other issues that need to be taken into account and you obviously should be as accurate as possible in your negotiations. Neither should you move forward placing reliance on this information before getting professional advice.