We are purchasing a 3 bedroom flat in Hadfield with a loan from Virgin Money.We like our Hadfield conveyancing practitioner but Virgin Money informed us he's not on their approved list of member firms. we are left little option but to use a Virgin Money panel firm or retain our local solicitor and fork out for one of their panel ones to represent them. This seems very unfair; is there anything we can do?
No, not really. The home loan issued to you is subject to its various provisions, a common one being that lawyers must be on the Virgin Money solicitor panel. Until recently, most mortgage companies had large numbers of solicitors on their panels: a borrower could find 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 Virgin Money
My wife and I are purchasing a house in Hadfield. I might seem paranoid but how we can trust a conveyancer? On completion day we have to send money into their account. What is the protection we have from them run away with our money?
Be assured that all money in a Solicitors client account is 100% safe, and even if your Solicitor ran off with it, the Law Society would reimburse you fully.
We were going to get a OIP from Kent Reliance this week so we know how much we could potentially offer as otherwise we only have online calculators to go by (which aren't taking into account credit checks etc). Do Kent Reliance recommend any Hadfield solicitors on the Kent Reliance conveyancing panel, or is it better to find our own lawyer?
You will need to appoint Hadfield solicitors independently although you'll need to choose one on the Kent Reliance conveyancing panel. The solicitor represents both you and Kent Reliance through the process.
My wife and I are in the process of viewing flats in Hadfield and I am about to put in an offer. Is it premature to have a solicitor in place? I will be getting a mortgage with Nationwide.
It would be prudent to commence your search sooner rather than later. Once you decide who you want to use and once your offer is accepted you can instruct them to work for you and forward their contact information on to the selling agent. As you are taking out a mortgage with Nationwide, ask your prospective lawyers if they are on the Nationwide conveyancing panel otherwise they can't do the mortgage legal work.
Despite weeks of looking the Title Certificate and documents to my house are lost. The solicitors who handled the conveyancing in Hadfield 5 years ago are no longer around. What are my options?
You no longer need to have the physical original deeds to prove you own the land or property, given that the Land Registry have everything they need in a digital format.
I've recently found out that there is a flying freehold element on a house I put an offer in two weeks back in what was supposed to be a straight forward, chain free conveyancing. Hadfield is the location of the property. Can you shed any light on this issue?
Flying freeholds in Hadfield are unusual but are more likely to exist in relation to terraced houses. Even where you use a solicitor outside Hadfield 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 Hadfield 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.
What does commercial conveyancing in Hadfield cover?
Hadfield conveyancing for business premises incorporates a wide range of guidance, given by regulated solicitors, relating to business property. By way of example, this area of conveyancing can cover the sale or purchase of freehold business premises or, more commonly, the transfer of existing business tenancies or the drafting of new leasing arrangements. Commercial conveyancing solicitors can also offer advice on the sale of business assets, commercial loans and the termination of leases.
There are only Fifty years unexpired on my lease in Hadfield. I need to extend my lease but my freeholder is absent. What options are available to me?
On the basis that you meet the appropriate requirements, under the Leasehold Reform, Housing and Urban Development Act 1993 you can submit an application to the County Court for for permission to dispense with the service of the initial notice. This will enable the lease to be granted an extra 90 years by the magistrate. However, you will be required to prove that you or your lawyers have used your best endeavours to track down the lessor. For most situations a specialist may be helpful to try and locate and prepare a report to be used as proof that the landlord can not be located. It is wise to seek advice from a conveyancer in relation to investigating the landlord’s disappearance and the application to the County Court overseeing Hadfield.
I invested in buying a leasehold flat in Hadfield, conveyancing formalities finalised June 2009. How much will my lease extension cost? Corresponding properties in Hadfield with over 90 years remaining are worth £190,000. The ground rent is £45 invoiced every year. The lease expires on 21st October 2087
You have 62 years remaining on your lease we estimate the premium for your lease extension to range between £17,100 and £19,800 plus professional fees.
The figure that we have given is a general guide to costs for extending a lease, but we cannot give you the actual costs in the absence of comprehensive due diligence. You should not use this information in tribunal or court proceedings. There are no doubt additional issues that need to be considered and clearly you want to be as accurate as possible in your negotiations. You should not take any other action based on this information before getting professional advice.