Why do I have to pay up front when it comes to conveyancing in Eastney and Southsea?
If you are buying a property in Eastney and Southsea your solicitor will request that you place them with funds to cover the search fees. Generally this is needed to cover the fees of the Local Authority Search. If any deposit is payable against the total price then this will be needed immediately ahead of exchange of contracts. The closing balance that is due should be sent to your lawyer a couple of days prior to the completion date.
My flat in Eastney and Southsea is up for sale and I have a purchaser. Does the conveyancer need to be on the Virgin Money conveyancing panel in order to deal with the discharge of my mortgage?
Ordinarily, even if your lawyer is not on the Virgin Money conveyancing panel they can still act for you on your sale. It might be that the lender will not release the original deeds (if applicable and increasingly irrelevant) until after the mortgage is paid off. You should speak to your lawyer directly before you start the process though to ensure that there is no problem as lenders are changing their requirements fairly frequently at the moment.
3 months have gone by since my purchase conveyancing in Eastney and Southsea concluded. I have checked the Land Registry website which shows that I paid £200,000 when infact I paid £170,000. Why the discrepancy?
The price paid figure is taken from the application to register the purchase. It is the figure included in the Transfer (the legal deed which transfers the property from one person to the other) and referred to as the 'consideration' or purchase price. You can report an error in the price paid figure using the LR online form. In most cases errors result from typos so at first glance the figure. Do report it so they can double check and advise.
Due to the encouragement of my in-laws I had a survey completed on a property in Eastney and Southsea prior to instructing solicitors. I have been informed that there is a flying freehold overhang to the property. The surveyor advised that some mortgage companies tend refuse to give a mortgage on such a property.
It varies from the lender to lender. HSBC has different requirements for example to Birmingham Midshires. Should you wish to telephone us we can look into this further via the relevant mortgage company. If you lender is happy to lend one our lawyers can help as they are accustomed to dealing with flying freeholds in Eastney and Southsea. Conveyancing will be smoother if you use a solicitor in Eastney and Southsea especially if they regularly deal with such properties in Eastney and Southsea.
I need to instruct a conveyancing practitioner in Eastney and Southsea for my home move. Is there any facility to review a solicitor's complaints history with the legal regulator?
You may search for presented Solicitor Regulator Association (SRA) decisions resulting from investigations started on or after 1 January 2008. Visit Check a solicitor's record. For information Pre 2008, or to check a solicitors record, telephone 0870 606 2555, 08.00 - 18.00 Monday, Wednesday, Thursday, Friday and 09.30 - 18.00 Tuesday. For non-uk callers, call +44 (0)121 329 6800. The regulator could recorded call for training requirements.
What advice can you give us when it comes to appointing a Eastney and Southsea conveyancing firm to deal with our lease extension?
If you are instructing a solicitor for your lease extension (regardless if they are a Eastney and Southsea conveyancing firm) it is essential that he or she should be familiar with the legislation and specialises in this area of work. We advise that you talk with several firms including non Eastney and Southsea conveyancing practices before you instructing a firm. Where the conveyancing practice is ALEP accredited then so much the better. The following questions could be of use:
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How familiar is the practice with lease extension legislation? Can they put you in touch with clients in Eastney and Southsea who can give a testimonial?
I am the registered owner of a leasehold flat in Eastney and Southsea, conveyancing having been completed 10 years ago. Can you shed any light on how much the price could be for a 90 year extension to my lease? Similar flats in Eastney and Southsea with an extended lease are worth £202,000. The ground rent is £60 yearly. The lease runs out on 21st October 2082
With 57 years left to run the likely cost is going to be between £28,500 and £33,000 as well as costs.
The figure above a general guide to costs for renewing a lease, but we cannot give you 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 may be additional issues that need to be considered and you obviously should be as accurate as possible in your negotiations. Please do not take any other action based on this information before getting professional advice.