Am I correct in assuming that the fact that my solicitor in Colchester is not identified on my lender's solicitor panel that there is a problem with the quality of her work?
It would be unwise to jump to that conclusion. There are plenty of plausible explanations. A recent report by the solicitors regulator revealed that over three quarters 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 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 Colchester conveyancing practice and enquire why they are no longer on the approved list for your lender.
My aunt pointed out to me me that in purchasing a property in Colchester there may be a number of restrictions affecting the ability to carry out external alterations to the property. Is this right?
We are aware of a number of properties in Colchester which have some sort of restriction or requirement of consent to carry out external variations. Part of the conveyancing in Colchester should determine what restrictions are applicable and advising you as part of a ROT that should be sent to you.
After much negotiation I have agreed a price on an apartment in Colchester. My financial adviser pressured me to appoint their conveyancer. I paid an advanced payment of £150. Shortly after, the conveyancing practitioner contacted me embarrassingly acknowledging that they were not on the TSB conveyancing panel. Am I right in thinking that I should be due a refund?
You should be able to recover this from the law firm if they were not on the TSB panel. They should have asked at the outset which lender you were obtaining a mortgage with. An important lesson to readers of this site is to check that the lawyers are on the appropriate lender panel.
Planning on purchasing a apartment in Colchester. I have received an online quote from a licenced conveyancer, which states: "There will be no charge for dealing with the Building Society if you are obtaining a mortgage". I take this to mean that there will be no additional fee if the solicitor is on the Leeds Building Society conveyancing panel. I wanted to make sure it means there will be no additional fees for dealing with the mortgage.
They are simply saying that the cost for acting for the lender is included in the fee being quoted. It is worth you checking that the Colchester conveyancer is on the Leeds Building Society conveyancing panel.
I have been told that property searches are the number one reason for stalling in Colchester conveyancing transactions. Is this right?
The Council of Property Search Organisations (CoPSO) released conclusions of research by MoveWithUs that conveyancing searches do not figure within the common causes of delays during the legal transfer of property. Searches are unlikely to be the root cause of delay in conveyancing in Colchester.
I have todaybecome aware that Stirling Law have closed. They conducted my conveyancing in Colchester for a purchase of a leasehold apartment 9 months ago. How can I establish that my home is registered correctly in the name of the former proprietor?
The quickest way to see if the property is in your name, you can make a search of the land registry (£3.00). You can either do this yourself or ask a law firm to do this for you. If you are not registered you can seek help from one of a number of Colchester conveyancing specialists.
Is it best to instruct a Colchester conveyancing solicitor based in the location that I am buying? We have a good friend who can execute the legal work but her office is 200kilometers drive away.
The primary upside of using a local Colchester conveyancing firm is that you can pop in to sign paperwork, hand in your identification documents and pester them if necessary. They will also have local insight which is a plus. However it's more important to get someone that will do a good and efficient job. If if people you trust instructed your friend and they were content that must surpass using an unknown Colchester conveyancing solicitor solely due to them being Colchester based.
Looking forward to complete next month on a leasehold property in Colchester. Conveyancing lawyers have said that they are sending me a report within the next couple of days. Are there areas in the report that I should be focusing on?
The report on title for your leasehold conveyancing in Colchester should include some of the following:
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Specifying your legal entitlements in respect of common areas in the building.E.G., does the lease provide for a right of way over a path or staircase? You should receive a copy of the lease The length of the lease term. You should be advised as what happens when the lease expires, and informed of the importance of the 80 year mark Will you be prohibited or prevented from having pets in the property? Does the lease prevent you from letting out the property, or having a home office for business
Colchester Leasehold Conveyancing - A selection of Questions you should ask Prior to buying
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Plenty Colchester leasehold flats will be liable to pay a service bill for the upkeep of the building invoiced on behalf of the freeholder. If you purchase the property you will have to meet this amount, usually periodically throughout the year. This could vary from several hundred pounds to thousands of pounds for large purpose-built blocks. There will also be a rentcharge for you to pay yearly, this is usually not a large sum, say approximately £50-£100 but you need to check as on occasion it could be surprisingly expensive. How is the lease structured? Are any of leasehold owners in dispute over their service charge liability?