We are purchasing a 3 bedroom apartment in Dereham with a mortgage. We have a Dereham solicitor, but the bank advise he's not on their "panel". It appears that we have little choice but to appoint one of the lender panel firms or keep our Dereham lawyer as well as pay for one of their panel firms to represent them. We regard this is inequitable; can we not demand that the bank use our Dereham property lawyer ?
No, not really. The mortgage offered to you is subject to its terms and conditions, one of which will be that lawyers will on the bank’s conveyancing panel. Until recently, most lenders had large numbers of law firms on their panels: a borrower could choose one for themselves, as long as it was on the lender's panel. The lender would then simply instruct the borrower's lawyers to act for the lender, too. You can use your lender's panel lawyers or you could borrow from another lender which does not restrict your choice. A further alternative is for your Dereham conveyancing solicitor to apply to be on the conveyancing panel.
Last August we completed a house move in Dereham. We have since encountered a number of problems with the property which we believe were omitted in the conveyancing searches. Do we have any recourse? Can you clarify the nature of searches that needed to have been conducted as part of conveyancing in Dereham?
The question is not clear as what problems have arisen and if they are specific to conveyancing in Dereham. Conveyancing searches and due diligence undertaken during the legal transfer of property are supposed to help avoid problems. As part of the legal transfer of property, a property owner answers a document referred to as a SPIF. If the information provided is inaccurate, you could possibly take legal action against the owner 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 Dereham.
My wife and I purchasing a 4 bedroom semi-detached house in Dereham. The intention is to carry out a loft conversion at the house.Will legal due diligence on the property include investigations to see if these alterations are permitted?
Your conveyancer will check the deeds as conveyancing in Dereham will sometimes reveal restrictions in the title deeds which prohibit categories of works or require the consent of another owner. Some extensions require local authority planning consent and approval under the building regulations. Certain locations are designated conservation areas and special planning restrictions apply which often prevent or affect extensions. You should check these issues with a surveyor ahead of any purchase.
Does a directory service exist listing TSB panel conveyancers in Dereham on the Council of Mortgage Lender’s Website?
No. There is no such tool on the CML or Building Society Association sites. A small selection of mortgage companies make their panel listings available over the internet. If you are in need of a Dereham lawyer on the TSB please use our tool.
The mortgage over my property is with Kent Reliance for my property in Dereham. Conveyancing was finalised months ago. In the event that I decide to rent out my property and do not currently have a buy-to-let mortgage do I need to remortgage to a BTL mortgage or inform Kent Reliance?
You must advise Kent Reliance before renting your property as this is likely to be a breach of Kent Reliance’s mortgage conditions. In many cases banks or building societies will allow you to rent out your former home without needing to switch to a buy-to-let mortgage but some lenders will add a surcharge to your mortgage rate to reflect the higher risk. You should contact Kent Reliance directly. You need not do this via a Kent Reliance conveyancing panel solicitor.
Despite weeks of looking the Title Certificate and documents to our property are lost. The lawyers who dealt with the conveyancing in Dereham 4 years ago are no longer around. Will I be able to sell the house?
Nowadays there are copies made of almost everything, and your conveyancer should know exactly where to locate all the relevant paperwork so you may purchase or sell your house without any difficulty. If duplicates are not available, your solicitor may be able to put in place insurance or indemnities against future claims on the premises.
I am thinking of appointing a conveyancing lawyer in Dereham for my home move. Is it possible to review a solicitor's record with the legal regulator?
Anyone may search for presented Solicitor Regulator Association (SRA) decisions stemming from investigations started on or after 1 January 2008. Visit Check a solicitor's record. To find information about the period before 1 January 2008, or to check a firm's history, telephone 0870 606 2555, 08.00 - 18.00 Monday, Wednesday, Thursday, Friday and 09.30 - 18.00 Tuesday. For non-uk callers, dial +44 (0)121 329 6800. The SRA could monitor call for training requirements.
I am a negotiator for a reputable estate agency in Dereham where we have witnessed a number of flat sales put at risk due to leases having less than 80 years remaining. I have received conflicting advice from local Dereham conveyancing solicitors. Could you shed some light as to whether the seller of a flat can initiate the lease extension formalities for the buyer?
Provided that the seller has been the owner for at least 2 years it is possible, to serve a Section 42 notice to start the lease extension process and assign the benefit of the notice to the purchaser. This means that the proposed purchaser can avoid having to sit tight for 2 years for a lease extension. Both sets of lawyers will agree to form of assignment. The assignment has to be done prior to, or simultaneously with completion of the disposal of the property.
Alternatively, it may be possible to extend the lease informally by agreement with the landlord either before or after the sale. If you are informally negotiating there are no rules and so you cannot insist on the landlord agreeing to grant an extension or transferring the benefit of an agreement to the purchaser.
I own a leasehold flat in Dereham, conveyancing having been completed January 2003. How much will my lease extension cost? Comparable flats in Dereham with an extended lease are worth £195,000. The ground rent is £45 charged once a year. The lease expires on 21st October 2088
With just 63 years unexpired the likely cost is going to range between £16,200 and £18,600 plus professional fees.
The figure above a general guide to costs for renewing a lease, but we are not able to supply a more accurate figure in the absence of detailed investigations. You should not use this information in a Notice of Claim or as an informal offer. There are no doubt additional issues that need to be considered and you obviously want to be as accurate as possible in your negotiations. Please do not take any other action based on this information before getting professional advice.