The Felpham conveyancing solicitors that I recently instructed on my purchase in Felpham have without warning shut down. I only went with them because I needed a solicitor on the Principality conveyancing panel and my previous Felpham lawyer was not. I paid them 275 plus VAT in advance. What are my options?
Assuming that you have an Estate Agent in the equation then let them know immediately so that they advise the vendors that there may be a slight delay due to reasons beyond your control. Most sellers would be sympathetic and urge their lawyer to send a new set of papers to your new solicitors. You should appoint new lawyers that are on the Principality conveyancing panel and notify the lender. If you have paid over any money, it will hopefully be held by the SRA as money in an intervened firm's bank accounts is transferred to the SRA. Then, the SRA or the intervention agent looks at the intervened firm's accounts to work out who the money belongs to. To claim your money you will need to contact the SRA. If the SRA cannot return money you are owed from the firm's bank accounts, or if they can only return part of the money, you can apply to the Compensation Fund for a grant. Your new lawyers should be in a position to help.
Is it correct that all Felpham CQS (Conveyancing Quality Scheme) solicitors are on the Coventry BS conveyancing panel?
It is true that some lenders now use CQS 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 Council of Mortgage Lenders have indicated that it is likely to become a pre-requisite for solicitors wishing to join their approved list of firms.
Can I be sure that the Felpham conveyancing solicitor on the Principality panel is any good?
When it comes to conveyancing in Felpham getting recommendations is a good starting point. Before you go ahead, check if they offer a no sale no fee offer. Also, you often get what you pay for - a firm which quotes more, will often provide a better service than one advertising the lowest fees. We would always advise that you speak with the lawyer conducting your transaction.
I am expecting a DIP from Nottingham this week so we can work out what to offer on a property we like as otherwise we only have online calculators to go by (which aren't taking into account credit checks etc). Do Nottingham recommend any Felpham solicitors on the Nottingham conveyancing panel, or is it better to go independently?
You will need to appoint Felpham solicitors independently although you'll need to choose one on the Nottingham conveyancing panel. The solicitor represents both you and Nottingham through the process.
I have todaybecome aware that Arc property Solicitors have closed. They conducted my conveyancing in Felpham for a purchase of a leasehold flat 10 months ago. How can I be sure that my home is registered correctly in the name of the former proprietor?
The quickest method to see if the premises 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 Felpham conveyancing specialists.
I've recently found out that there is a flying freehold issue on a house I put an offer in a fortnight ago in what should have been a simple, chain free conveyancing. Felpham is where the house is located. Can you offer any assistance?
Flying freeholds in Felpham are rare but are more likely to exist in relation to terraced houses. Even though you don't necessarily need a conveyancing solicitor in Felpham you must be sure that your lawyer goes through the deeds thoroughly. Your mortgage company may require your conveyancing solicitor to take out an indemnity policy. Some of the more diligent conveyancing solicitors in Felpham may determine that this is not enough and that the deeds be re-written to give you the most up to date legal protection. If so, the next door neighbour also had to sign up to the revised deeds.It is possible that your lender will not accept the situation so the sooner you find out the better. You should also check with your insurance broker as to whether they will insure a flying freehold premises.
I am a negotiator for a busy estate agency in Felpham where we see a few leasehold sales jeopardised as a result of short leases. I have received contradictory information from local Felpham conveyancing firms. Could you confirm whether the owner of a flat can initiate 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 start the lease extension process and assign the benefit of the notice to the purchaser. The benefit of this is that the buyer can avoid having to sit tight for 2 years for a lease extension. Both sets of lawyers will agree to form of assignment. The assignment has to be done prior to, or at the same time as completion of the sale.
An alternative approach is 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 purchaser.
I am the registered owner of a garden flat in Felpham, conveyancing having been completed in 2011. 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? Comparable properties in Felpham with an extended lease are worth £206,000. The average or mid-range amount of ground rent is £45 levied per year. The lease ceases on 21st October 2092
With just 66 years remaining on your lease we estimate the price of your lease extension to range between £11,400 and £13,200 plus costs.
The figure above a general guide to costs for extending a lease, but we are not able to supply a more accurate figure without more comprehensive due diligence. You should not use the figures in a Notice of Claim or as an informal offer. There may be other concerns that need to be considered and clearly you should be as accurate as possible in your negotiations. Please do not move forward based on this information without first getting professional advice.
I pay a service charge for my first floor flat in Felpham. As a result of poor financial planning I slipped into arrears with payments. The managing agents agreed a payment schedule but there is still approximately £1750 remaining to be paid.
I am under pressure to sell and I am worried this could jeopardize the sale if I have to discharge the arrears now. I'd like to sell up and subsequently discharge the debt from the proceeds - is this viable?
The conveyancing practitioner undertaking your Felpham sale should be in a position to negotiate with the appropriate parties, and agree with them whether or not they would accept payment from completion monies. This is indicative of why it might be good to instruct a solicitor in Felpham as they may well enjoy an established relationship with the management company.