I am in the process of mortgaging my property in Eel Pie Island, does my lawyer have to be on the Yorkshire BS Solicitor panel?
In theory, you could use a solicitor that is not on the Yorkshire BS conveyancing panel, but Yorkshire BS 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 transaction.
What is your number one tip for finding a conveyancing solicitor in Eel Pie Island
It would be unwise to be swayed by the cheapest Eel Pie Island conveyancing costs illustration. You really do get what you pay for when it comes to conveyancing solicitors. A cheap quote may mean that the conveyancing solicitor is handling a lot of jobs at one time and you won’t get the quality of service and the attention that you need. It is, however, wise to use a conveyancer who has a fixed fee on a no sale, no fee basis. This way, you go into the conveyancing with your eyes wide open.
I have been told by my conveyancer that lack of right of way insurance is necessary on my purchase. What is the level of cover for Eel Pie Island conveyancing?
The appropriate level of lack of right of way indemnity insurance depends on your lender. It would differ for example between Yorkshire Building Society and Leeds Building Society. Conveyancing solicitors as opposed to members of the public take out such policies.
It is not clear whether my lender obliges me to make sure the lease term for the flat is extended prior to the completion date. I have called into my local Eel Pie Island building society branch on numerous occasions and was told it does not impact the mortgage offer and they would lend. My Eel Pie Island conveyancing solicitor - who is on the lender conveyancing panel- called to say that they refuse to lend in accordance with their UK Finance Lenders’ Handbook minimum lease term requirements. I simply don't know who is right.
Provided that the solicitor is on the mortgage company approved list, they must follow the CML Handbook conditions for the bank. Unless your lawyer obtains specific confirmation in writing that the mortgage company 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 bank to contact your lawyer in writing confirming that they will accept the number of years left on the lease.
A colleague suggested that where I am buying in Eel Pie Island I should carry out a Neighbourhood, Planning and Local Amenity Search. Can you explain what the purpose of this search is?
A search of this type is sometimes quoted for as part of the standard Eel Pie Island conveyancing searches. It is a large report of more than thirty pages, listing and detailing significant information about Eel Pie Island around the property and the people living there. It incorporates an Aerial Photograph, Planning Applications, Land Use, Mobile Phone Masts, Rights of Way, the Eel Pie Island Housing Market, Council Tax Banding, the demographics of People living in the area, the dominant type of Housing, the Average Property Price, Crime statistics, Local Education with plans and statistics, Local Amenities and other useful data regarding Eel Pie Island.
I have been on the look out for a ground for flat up to £235,500 and identified one close by in Eel Pie Island I like with a park and station in the vicinity, the downside is that it's only got 51 years unexpired on the lease. I can't really find anything else in Eel Pie Island in this price bracket, so just wondered if I would be making a mistake acquiring a lease with such few years left?
If you need a mortgage that many years will be an issue. Reduce the price by the expected lease extension will cost if it has not already been discounted. If the existing owner has owned the premises for at least twenty four months you can ask them to start the process of the extension and then assign it to you. You can add 90 years to the current lease term and have £0 ground rent by law. You should consult your conveyancing lawyer concerning this.
My father-in-law has recommend that I instruct his conveyancing solicitors in Eel Pie Island. Should I choose my own conveyancer?
There are no two ways about it the best way to choose a conveyancing lawyer is to get referrals from friends or family who have actually used the conveyancer that you are considering.
I'm remortgaging a apartment in Eel Pie Island. I have found my conveyancer's company on the CLC list, but I can't see my lawyer's name as listed on the regulator's website. Should I be concerned?
Not every individual in the company must be listed by the regulator. As long there is a manager qualified to 'oversee' the conveyancing, the actual day-to-day activity can be undertaken by unlicensed staff.