I am not well enough to travel far from Duston. Is there a reason why all Duston solicitors aren't automatically on all lender panels?
Mortgage companies point to the fact that solicitor-led fraud is considered to be responsible for millions of pounds of fraud every year.The elimination of law firms off of lender panels started with the rise in mortgage fraud, which prompted a thematic review by the Financial Services Authority in 2011. Its conclusions included recommendations for lending institutions to review their conveyancing panels, which kicked off a major policy change in the sector. This resulted in lenders removing less reputable firms off their books of approved solicitors .
We're in Duston, First time buyers purchasing with a mortgage (lender is RBS , and our solicitor is on the RBS conveyancing panel). How long should the conveyancing process take?
The fact that your lawyer is on the RBS conveyancing panel is a help. It would almost certainly delay matters if they were not. However, no property lawyer should guarantee a timeframe for your conveyancing, due to third parties outside of your control such as delays caused by lenders,conveyancing search providers or by the other side’s solicitors. The time taken is often determined by the number of parties in a chain.
I require expedited conveyancing in Duston as I am faced with a deadline to complete in less than 3 weeks. A mortgage is not required. Can I escape the need for conveyancing searches to save fees and time?
As you are not obtaining a home loan you are at liberty not to do searches although no law firm would advise that you don't. With lots of history conveyancing in Duston the following are instances of issues that can be revealed and adversely impact future saleability: Enforcement Actions, Outstanding Charges, Outstanding Grants, Unadopted Roads,...
I have justbecome aware that Arc property Solicitors have been shut down. They carried out my conveyancing in Duston for a purchase of a leasehold apartment 10 months ago. How can I check that my home is registered correctly in the name of the former proprietor?
The quickest way to see 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 Duston conveyancing specialists.
I'm refinancing my existing house to a buy to let mortgage with Leeds Building Society and intend to use the remaining equity as a down payment on another property. The area we are looking at is Duston. Will your conveyancers be able to act for both sets of mortgage companies and link together the conveyances?
Make use of our search tool on this page to ensure that the solicitors are on the relevant lender panels. Assuming that they are your conveyancer will be able to simultaneously deal with the two conveyancing matters but you should have a chat with you solicitor and make clear your expectations and requirements.
Having had my offer accepted I require leasehold conveyancing in Duston. Before I set the wheels in motion I want to be sure as to the remaining lease term.
If the lease is registered - and most are in Duston - then the leasehold title will always include the basic details of the lease, namely the date; the term; and the original parties. From a conveyancing perspective such details then enable any prospective buyer and lender to confirm that any lease they are looking at is the one relevant to that title. For any other purpose, such as confirming how long the term was granted for and calculating what is left, then the register should be sufficient on it's own.
I own a ground floor flat in Duston, conveyancing was carried out half a dozen years ago. How much will my lease extension cost? Comparable flats in Duston with an extended lease are worth £192,000. The average or mid-range amount of ground rent is £55 per annum. The lease terminates on 21st October 2079
With 54 years unexpired we estimate the premium for your lease extension to span between £32,300 and £37,400 as well as plus your own and the landlord's "reasonable" professional fees.
The figure that we have given is a general guide to costs for renewing a lease, but we cannot give you the actual costs without more detailed due diligence. You should not use this information in tribunal or court proceedings. There may be additional issues that need to be taken into account and clearly you want to be as accurate as possible in your negotiations. You should not move forward based on this information before seeking the advice of a professional.