My fiance and I are hoping to purchase a flat in Forest of Dean and are in fact using a Forest of Dean conveyancing firm. Within the last couple of days our property lawyer has sent a preliminary report and documents to look through with the expectation that exchange is imminent. Coventry Building Society have this afternoon contacted us to advise us that they have now hit a problem as our Forest of Dean solicitor is not on their approved list of lawyers. Is this a problem?
If you are buying a property requiring a mortgage it is conventional for the purchasers' solicitors to also represent the purchaser's lender. In order to act for a bank or building society a law firm has to be on that lender's conveyancing panel. An application has to be made by the law firm to the lender to become a member of the lender's panel and there are increasingly strict criteria which the firm has to satisfy and indeed some lenders now require their panel members to be part of the Law Society’s Conveyancing Quality Scheme. Your property lawyer should contact your mortgage company and see if they can apply for membership of their conveyancing panel, but if that is not viable they will instruct their own solicitors to act. You don't have to instruct a firm on the lender’s conveyancing panel as you are at liberty to use your preferred Forest of Dean lawyers, in which case it will likely add costs, and it will likely delay the transaction as you are adding another lawyer into the mix.
Completed the sale of my flat in Forest of Dean last June yet the purchaser is Skype messaging daily complaining that their conveyancer needs to hear from mysolicitor. What are the post completion sale formalities now that I have sold?
Following your house sale your conveyancer should deliver the transfer deeds and all of the paperwork to the buyer’s conveyancer. Depending on the transaction, your conveyancer must also send confirmation that the mortgage has been paid off to the buyers conveyancers. There are no post completion steps specific conveyancing in Forest of Dean.
Our lender has recommended solicitors on their panel based in Forest of Dean but I would rather instruct a conveyancing lawyer in Forest of Dean or nearer to where I live. Can you help?
Far from all Forest of Dean conveyancing firms are listed all lender’s conveyancing panel. Use the above search tool to locate a Forest of Dean conveyancing solicitor on the on the lender panel.
Yesterday I discovered that there is a flying freehold element on a property I have offered on last month in what was supposed to be a quick, chain free conveyancing. Forest of Dean is the location of the property. Is there any guidance you can give?
Flying freeholds in Forest of Dean are rare but are more likely to exist in relation to terraced houses. Even though you don't necessarily need a conveyancing solicitor in Forest of Dean you would need to get your solicitor to go through the deeds thoroughly. Your lender may require your conveyancing solicitor to take out an indemnity policy. Some of the more diligent conveyancing solicitors in Forest of Dean 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'm remortgaging my primary home to a BTL loan with The Royal Bank of Scotland and intend to use the remaining equity as a down payment on a second house. The location we are looking at is Forest of Dean. Will your solicitors be able to act for the two lenders and link together the two deals?
Make use of our comparison tool on this page to ensure that the solicitors are approved by both mortgage companies. Assuming that they are your solicitor will be able to tie up the two transactions but you should talk with you lawyer and make clear your expectations and requirements.
I am in need of some leasehold conveyancing in Forest of Dean. Before I set the wheels in motion I want to be sure as to the number of years remaining on the lease.
If the lease is recorded at the land registry - and 99.9% are in Forest of Dean - then the leasehold title will always include the short particulars 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 acquired a 1 bedroom flat in Forest of Dean, conveyancing formalities finalised 5 years ago. Can you let me have an estimated range of the fair premium for a lease extension? Comparable properties in Forest of Dean with an extended lease are worth £190,000. The ground rent is £65 invoiced annually. The lease terminates on 21st October 2086
With 61 years remaining on your lease we estimate the price of your lease extension to range between £19,000 and £22,000 as well as plus your own and the landlord's "reasonable" professional fees.
The figure above a general guide to costs for renewing a lease, but we cannot give you the actual costs in the absence of comprehensive due diligence. You should not use this information in a Notice of Claim or as an informal offer. There are no doubt other issues that need to be taken into account and you obviously want to be as accurate as possible in your negotiations. Please do not take any other action placing reliance on this information without first seeking the advice of a professional.