We selected a high street firm for our conveyancing in Dulverton last week. Upon checking the Ts and Cs it is apparent thatI am liable for costs even where the conveyance does not complete. Should I ditch them and choose a web based solicitor practice offering no completion no cost conveyancing in Dulverton?
It is usually a trade off in that if "No Completion No Fee" is available then the fee levels will tend to be be uplifted to cover those cases that do not proceed. Dont forget that such arrangements rarely cover outlay for instance Dulverton conveyancing search costs.
How up to date is your search tool for Dulverton conveyancing solicitors on the TSB conveyancing panel? Do TSB send you an updated list?
Dulverton conveyancing firms themselves provide us confirmation that they are on the TSB conveyancing panel as opposed to being supplied with a list from TSB directly.
I am thinking of remortgaging my apartment in Dulverton, does my lawyer need to be on the Virgin Money Conveyancing panel?
In theory, you could use a solicitor that is not on the Virgin Money conveyancing panel, but Virgin Money would require one of their panel solicitors to be instructed to act in their interests, and you'd have to pay for this - so most people instruct a panel solicitor. It's also easier, as otherwise you'd have to deal with two solicitors for the same conveyancing matter.
Are all Dulverton Conveyancing Quality Solicitors on the Coventry BS conveyancing panel?
Some major lenders now make use of the accreditation scheme as the kick off point for Panel approval such as HSBC and Santander. CQS membership however gives no guarantee to lender panel acceptance. That being said,the CML have indicated that it is likely to become a pre-requisite for firms wishing to remain on their approved list of firms.
I can not work out if my bank requires a lease extension. I have called into my local Dulverton bank branch on various occasions and was told it wasn't an issue and they would lend. My Dulverton conveyancing solicitor - who is on the bank conveyancing panel- called and was told they will not lend based on their published requirements. I simply don't know who is right.
Provided that the conveyancer is on the mortgage company approved list, they must follow the CML Handbook requirements for the bank. Unless your lawyer obtains specific confirmation in writing that the bank will go ahead, your lawyer has no choice but to refrain from exchanging contract and committing you to the purchase. We would suggest that you ask the lender to contact your lawyer in writing confirming that they will accept the number of years remaining.
I had an offer accepted on an apartment in Dulverton on 1/5/2025, valuation was booked 4 days after, all came back fine. Solicitor appointed, so all that was missing was my mortgage offer. Having made daily calls to Leeds Building Society and chasing them on my offer, I have now been told that my offer will not be issued unless the lawyer is on the Leeds Building Society conveyancing panel. Are Leeds Building Society entitled to hold back the Mortgage pending the lawyer being on the approved list?
A lender would not issue a mortgage until they have details of a lawyer on their panel. It can take a few weeks for Leeds Building Society to deal with your lawyer's application to be on the Leeds Building Society conveyancing panel. There's no guarantee that your solicitor will be accepted.
I have recentlybecome aware that Wolstenholmes have closed. They carried out my conveyancing in Dulverton for a purchase of a leasehold apartment 10 months ago. How can I check that the property is registered correctly in the name of the former proprietor?
The easiest way to check if the property is registered to you, 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 Dulverton conveyancing specialists.
I am employed by a long established estate agent office in Dulverton where we see a number of leasehold sales jeopardised due to short leases. I have been given contradictory information from local Dulverton conveyancing solicitors. Please can you shed some light as to whether the vendor of a flat can start the lease extension process for the buyer?
As long as the seller has been the owner for at least 2 years it is possible, to serve a Section 42 notice to commence the lease extension process and assign the benefit of the notice to the purchaser. The benefit of this is that the proposed purchaser can avoid having to wait 2 years to extend their lease. Both sets of lawyers will agree to form of assignment. The assignment needs to be completed prior to, or at the same time as completion of the disposal of the property.
An alternative approach is 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 buyer.
I acquired a 1 bedroom flat in Dulverton, conveyancing formalities finalised half a dozen years ago. How much will my lease extension cost? Corresponding properties in Dulverton with an extended lease are worth £201,000. The ground rent is £45 invoiced annually. The lease finishes on 21st October 2090
You have 65 years left to run we estimate the price of your lease extension to span between £13,300 and £15,400 as well as plus your own and the landlord's "reasonable" professional fees.
The figure above a general guide to costs for renewing a lease, but we are not able to provide a more accurate figure without more comprehensive investigations. Do not use the figures in tribunal or court proceedings. There may be additional concerns that need to be taken into account and you obviously want to be as accurate as possible in your negotiations. Neither should you move forward based on this information before getting professional advice.