Am I correct in assuming that the fact that my solicitor in Frinton On Sea is not on my mortgage company's solicitor panel that there is a problem with the quality of his conveyancing?
That would most likely be a wrong assumption to make. There are plenty of reasonable explanations. A recent report by the solicitors regulator revealed that over three quarters of law firms surveyed had been removed from at least one lender panel. The most common reasons for removal are: (1) lack of transactions (2) the lawyer is a sole practitioner (3) as part of the HSBC panel reduction (4) regulatory contact by SRA (5) accidental removal. Should you be concerned you should contact the Frinton On Sea conveyancing firm and ask them why they are no longer on the approved list for your mortgage company.
My wife and I are buying a new build duplex in Frinton On Sea and my solicitor is telling me that she has to the mortgage company to disclose incentives from the seller. I am under pressure to sign contracts and my preference is not to prolong matters. Is my lawyer right?
You should not exchange unless you have been advised to do so by your lawyer. A precondition to being on a bank panel is to comply with the UK Finance Lenders’ Handbook conditions. The CML Conveyancing Handbook requires that your lawyer have the appropriate Disclosure of Incentive form completed by the developer and accepted by your lender.
A friend suggested that if I am buying in Frinton On Sea 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 usually included in the estimate for your Frinton On Sea conveyancing searches. It is a large report of more than thirty pages, listing and setting out important information about Frinton On Sea around the property and the people living there. It includes an Aerial Photograph, Planning Applications, Land Use, Mobile Phone Masts, Rights of Way, the Frinton On Sea Housing Market, Council Tax Banding, the demographics of People living in the area, the dominant type of Housing, the Average House Prices, Crime statistics, Local Education with plans and statistics, Local Amenities and other useful data concerning Frinton On Sea.
Are there restrictive covenants that are commonly picked up as part of conveyancing in Frinton On Sea?
Restrictive covenants can be picked up when reviewing land registry title as part of the process of conveyancing in Frinton On Sea. An 1874 stipulation that was seen was ‘The houses to be erected on the estate are each to be of a uniform elevation in accordance with the drawings to be prepared or approved by the vendor’s surveyor…’
Having had my offer accepted I require leasehold conveyancing in Frinton On Sea. Before diving in I want to be sure as to the unexpired term of the lease.
If the lease is recorded at the land registry - and 99.9% are in Frinton On Sea - 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 inherited a ground floor flat in Frinton On Sea, conveyancing having been completed half a dozen years ago. Can you give me give me an indication of the likely cost of a lease extension? Comparable properties in Frinton On Sea with an extended lease are worth £202,000. The ground rent is £60 levied per year. The lease comes to an end on 21st October 2081
With only 56 years remaining on your lease we estimate the premium for your lease extension to span between £29,500 and £34,000 as well as costs.
The figure that we have given is a general guide to costs for extending a lease, but we are not able to provide a more accurate figure without more detailed due diligence. Do not use the figures in a Notice of Claim or as an informal offer. There are no doubt additional issues that need to be taken into account and you obviously should be as accurate as possible in your negotiations. Please do not move forward based on this information without first getting professional advice.
To what extent are Frinton On Sea conveyancing solicitors under an obligation to the Law Society to supply transparent conveyancing costs?
Inbuilt into the Solicitors Code of Conduct are set rules and regulations as to how the Solicitors Regulation Authority (SRA) allow solicitors to publicise their charges to clients.The Law Society have practice note giving advice on how to publicise transparent charges to avoid breaching any such rule. Practice notes are not legal advice issued by the Law Society and is not to be regarded as the only standard of good practice a conveyancing solicitor should adhere to. The Practice Note does, however, represent the Law Society’s perspective of acceptable practice for publicising conveyancing charges, and accordingly it’s a recommended read for any solicitor or conveyancer in Frinton On Sea or beyond.