Do banks and building societies provide you with an approved list of Fairwater conveyancing solicitors? How do you know who is on the UBS conveyancing panel?
Fairwater conveyancing firms themselves provide us confirmation that they are on the UBS conveyancing panel as opposed to being supplied with a list from UBS directly.
Please explain the implications if my lawyer’s firm is removed from the Coventry BS Solicitor panel ahead of completing my conveyancing in Fairwater?
The first thing to point out is that, this is a very rare occurrence. In most cases even where a law firm is removed off of a panel the lender would allow the completion to go ahead as the lender would appreciate the difficulties that they would place you in if you have to instruct a new solicitor days before completion. In a worst case scenario where the lender insists that you instruct a new firm then it is possible for a very good lawyer to expedite the conveyancing albeit that you may pay a significant premium for this. The analogous situation is where a buyer instructs a lawyer, exchanges contracts and the law firm is shut down by a regulator such as the SRA. Again, in this situation you can find lawyers who can troubleshoot their way to bring the conveyancing to a satisfactory conclusion - albeit for a fee.
Is there a list of Lloyds panel conveyancers in Fairwater on the Building Society Association’s Website?
Unfortunately not yet. There is no such directory service on the CML or Building Society Association sites. Very few lenders make their panel listings available over the internet. If you are in need of a Fairwater lawyer on the Lloyds please make the most of our facility.
Completion of my remortgage has taken place for my property in Fairwater. Conveyancing was satisfactory but I feel I should register my dissatisfaction about the lender. How do I make a complaint?
All lenders have complaints procedures. Your first port of call should be one of the lender’s branches or the Customer Services Department at head office. We understand that complaints to a lender are sorted out effectively and efficiently. If you feel the matter is not resolved you can write to Financial Ombudsman Service who will take matters further.
Our offer on a house in Fairwater has been accepted, but there is a chain. The sellers have put an offer on somewhere, however it’s not yet agreed to, and are looking at other apartments booked. I have chosen a high street conveyancing solicitor in Fairwater. What should be my next step? When do I get the mortgage application with Nottingham started?
It is normal to have anxieties where there is a chain as you are unlikely to want to be too out of pocket too early (home loan application is approx one thousand pounds, then survey, Fairwater conveyancing search charges, etc). First, you must ensure that your solicitor is on the Nottingham approved list. Concerning the subsequent stages this very much dictated by the circumstances of your transaction, motivation for this property and on the state of the market. In a rising market many purchasers will apply for a home loan with Nottingham and arrange for the valuation and only if it comes back ok would they request their property lawyer to press on with searches.
The deeds to my house can not be found. The solicitors who handled the conveyancing in Fairwater 5 years ago have long since closed. What are my next steps?
These day there are duplicates made of almost everything, and your lawyer will be aware precisely where to look for all the suitable paperwork so you may buy or dispose of your house without a hitch. If duplicates can’t be found, your solicitor may be able to put in place insurance or indemnities protecting you against possible claims on the property.
How does conveyancing in Fairwater differ for new build properties?
Most buyers of new build residence in Fairwater approach us having been asked by the seller to sign contracts and commit to the purchase even before the property is constructed. This is because house builders in Fairwater tend to buy the land, plan the estate and want to get the plots sold off as they are building the properties. Buyers, therefore, will have to exchange contracts without actually seeing the house they are buying. To reduce the chances of losing the property, buyers should instruct conveyancers as soon as the property is reserved and mortgage applications should be submitted quickly. Due to the fact that it could be several months and even years between exchange of contracts and completion, the mortgage offer may need to be extended. It would be wise to use a lawyer who specialises in new build conveyancing especially if they are accustomed to new build conveyancing in Fairwater or who has acted in the same development.
I work for a reputable estate agent office in Fairwater where we have witnessed a few flat sales put at risk due to leases having less than 80 years remaining. I have been given inconsistent advice from local Fairwater conveyancing firms. Can you clarify whether the owner of a flat can instigate the lease extension formalities for the purchaser on completion of the sale?
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 buyer need not have to wait 2 years to extend their lease. Both sets of lawyers will agree to form of assignment. The assignment needs to be completed before, or simultaneously with completion of the sale.
Alternatively, it may be possible to agree the lease extension with the freeholder 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 own a 1st floor flat in Fairwater, conveyancing was carried out in 2009. Can you let me have an estimate of the premium that my landlord can legally expect in return for granting a renewal of my lease? Equivalent flats in Fairwater with a long lease are worth £265,000. The average or mid-range amount of ground rent is £50 per annum. The lease comes to an end on 21st October 2101
With just 76 years left to run we estimate the price of your lease extension to be between £8,600 and £9,800 plus legals.
The suggested premium range that we have given is a general guide to costs for renewing a lease, but we are not able to advice on the actual costs in the absence of comprehensive investigations. You should not use the figures in a Notice of Claim or as an informal offer. There may be other issues that need to be considered and you obviously want to be as accurate as possible in your negotiations. Neither should you move forward placing reliance on this information before seeking the advice of a professional.