I am in the market for a reasonably priced property lawyer. Do I opt for a web based conveyancer or a family Framlingham conveyancing lawyer?
Existing third party relationships are another important factor to consider when choosing conveyancing solicitors. Framlingham conveyancers benefit from connections with financial advisers and selling, local authorities, surveyors and other conveyancing firms meaning the whole process is going to be much smoother for you. Having a sound knowledge of the local area also helps too.
we are a couple who are buying a newbuild apartment in Framlingham with a loan from Bank of Ireland.We like our Framlingham conveyancing solicitor but Bank of Ireland advised that she’s not listed on their approved list of firms. we are left little option but to use a Bank of Ireland panel solicitor or retain our high street solicitor and fork out for a Bank of Ireland panel lawyer to represent them. We feel as though this is unjust; Can we not simply insist that Bank of Ireland use our lawyer?
Unfortunately,no. The mortgage issued to you contains terms and conditions, a common one being that solicitors needs to be on the Bank of Ireland approved list. Until recently, most lenders had large numbers of solicitors on their panels: a borrower could choose one for themselves, as long as it was on the lender's panel. The lender would then simply instruct the borrower's lawyers to act for the lender, too. You can use your lender's panel lawyers or you could borrow from another lender which does not restrict your choice. A further alternative is for your lawyer to apply to be on the conveyancing panel for Bank of Ireland
Is it the case that all Framlingham solicitor practices on the Leeds Building Society conveyancing panel are overseen by the Solicitors Regulatory Authority?
As a firm of solicitors, in order to be on the Leeds Building Society approved list of solicitors they would need to be governed by the Solicitors Regulatory Authority. Some mortgage companies do permit licenced conveyancers on their panel and in such a situation the organisation would be regulated by the Council of Licensed Conveyancers.
I have today made my last payment due on my mortgage with Aldermore. I assume I don't need a Framlingham property lawyer on the Aldermore panel to discharge the mortgage at the Land Registry. Please confirm.
If you have finished paying off your Aldermore mortgage, they may send you evidence showing that you have paid it off. Alternatively they may notify the Land Registry directly. The Land Registry need to see this evidence before they will remove the Aldermore mortgage from the register. Aldermore, and any evidence they send you, will determine the action you need to take. In cases where no conveyancer is acting for you and you have paid off your mortgage:
- but are not moving to another property
- where Aldermore has sent the Land Registry the discharge electronically, and
- Aldermore has instructed the Land Registry to do so
I can not work out if my lender obliges me to make sure the lease term for the flat is extended prior to the completion date. I have telephoned my Framlingham building society branch on a couple of occasions and was told it does not impact the mortgage offer and they would lend. My Framlingham conveyancing solicitor - who is on the lender conveyancing panel- telephoned to say that they will not lend based on their UK Finance Lenders’ Handbook minimum lease term requirements. I have no idea who is right.
Your property lawyer has to comply with the Council of Mortgage Lenders’ Handbook Part 2 specifications for your bank. Unless your lawyer obtains specific confirmation in writing that the lender 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 mortgage company to contact your lawyer in writing confirming that they will accept the number of years remaining.
I've recently found out that there is a flying freehold issue on a house I have offered on last month in what should have been a simple, no chain conveyancing. Framlingham is where the house is located. Can you offer any assistance?
Flying freeholds in Framlingham are rare but are more likely to exist in relation to terraced houses. Even where you use a solicitor outside Framlingham 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 Framlingham may decide 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 residence.
Given that I will soon part with £400,000 on 3 bedroom house in Framlingham I wish to have a conversation with the conveyancer concerning thehome move prior to appointing the firm. Is this something that you can arrange?
Absolutely - it is our preference to talk to you we do not take any clients on without you speaking to the conveyancer due to be conducting your property ownership legalities in Framlingham.There is no ‘factory style conveyancing’ - every client is unique individual, not a file number. The solicitors that we put you in touch with believe that the figure you are quoted for your conveyancing in Framlingham should be the amount on the final invoice that you are charged.
I am in need of some leasehold conveyancing in Framlingham. Before I get started I would like to find out the number of years remaining on the lease.
Assuming the lease is recorded at the land registry - and most are in Framlingham - 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 invested in buying a split level flat in Framlingham, conveyancing formalities finalised February 1995. Can you shed any light on how much the price could be for a 90 year extension to my lease? Corresponding properties in Framlingham with an extended lease are worth £191,000. The average or mid-range amount of ground rent is £55 invoiced every year. The lease terminates on 21st October 2077
With only 53 years remaining on your lease we estimate the price of your lease extension to range between £27,600 and £31,800 as well as plus your own and the landlord's "reasonable" professional fees.
The figure above a general guide to costs for extending a lease, but we cannot give you the actual costs in the absence of comprehensive investigations. You should not use the figures in tribunal or court proceedings. There are no doubt other issues that need to be considered and you obviously should be as accurate as possible in your negotiations. Neither should you take any other action based on this information before getting professional advice.