My husband and I are hoping to purchase a home in Cottesmore and have instructed a Cottesmore conveyancing firm. Within the last couple of days our solicitor has forwarded the sale agreement to be signed with a detailed report with the expectation that exchange is imminent. TSB have this morning contacted us to inform me that they have now hit a problem as our Cottesmore solicitor is not on their approved list of lawyers. What do we do from here?
Where you are buying a property with the assistance of a mortgage it is normal for the purchasers' solicitors to also represent 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 Accreditation Scheme. Your solicitor should contact your lender and see if they can apply for membership of their conveyancing panel, but if that is not viable they will instruct their own solicitors to act. You are not legally obliged to appoint a law firm on the lender’s conveyancing panel and you may continue to use your own Cottesmore solicitors, in which case your legal fees may increase, and it will likely delay the transaction as you have another set of people involved.
The property market in Cottesmore is heating up. What can be done to quicken up the buying process?
In the event that the seller is applying a tight deadline for your conveyancing we would recommend that your solicitor is familiar with the location as they will benefit local contacts and know-how. It is even conceivable that they could have handled previoushouses in the same neighbourhood. You would be best advised to use a Cottesmore conveyancing lawyer. In addition, make sure that the lawyer is on the on the approved list for your mortgage company. It is said that just under twenty per cent of Cottesmore conveyancing deals are delayed or jeopardised after finding out that a buyer’s solicitor was not on their mortgage lender’s member panel. This can often result in the buying process being delayed by almost 21 days. It is estimated that this issue affects approximately 100,000 home sales every year. Most Cottesmore conveyancing practices can not act for certain lenders so do check at the outset.
I have justbeen informed that Action Conveyancing have been shut down. They carried out my conveyancing in Cottesmore for a purchase of a leasehold apartment 9 months ago. How can I be sure that the property is not still registered in the name of the previous owner?
The quickest way to see if the premises 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 Cottesmore conveyancing specialists.
Over the last few months I have been searching for a ground for flat up to £195,000 and identified one round the corner in Cottesmore I like with a park and transport links in the vicinity, however it only has 51 years on the lease. I can't really find anything else in Cottesmore suitable, so just wondered if I would be making a grave error buying a lease with such few years left?
Should you require a home loan that many years will be an issue. Discount the offer by the expected lease extension will cost if it has not already been discounted. If the current owner has owned the property for a minimum of 2 years you may request that they start the process of the extension and pass it to you. You can add 90 years to the existing lease and have £0 ground rent by law. You should speak to your conveyancing lawyer concerning this matter.
I am looking for a conveyancing solicitor in Cottesmore for my house move. Is it possible to see a firm’s complaints history with the legal regulator?
You can see published Solicitor Regulator Association (SRA) determinations arising from investigations started on or after Jan 2008. Go to Check a solicitor's record. For details about the period before 1 January 2008, or to check a firm's record, ring 0870 606 2555, 08.00 - 18.00 Monday, Wednesday, Thursday, Friday and 09.30 - 18.00 Tuesday. For non-uk callers, use +44 (0)121 329 6800. The regulator may recorded telephone calls for training requirements.
Been looking for a property lawyer for leasehold sale conveyancing in Cottesmore. I'm selling, uncomplicated no mortgage to redeem, no hurry, currently vacant. Had an estimate from a conveyancer for £800 plus VAT which is a tad expensive considering its so straightforward. Is it possible to find less expensive fees for conveyancing in Cottesmore?
As it’s a sale only, £425 + VAT is likely to be about the cheapest for a Cottesmore solicitor firm.