My wife and I are looking to buy a house in Hagley and are in fact using a Hagley conveyancing firm. Within the past 48 hours our solicitor has sent a preliminary report and documents to look through in anticipation of exchanging contracts shortly. National Westminster Bank have this morning contacted us to inform me that there is now an issue as our Hagley conveyancer is not on their conveyancing panel. What do we do from here?
Where you are buying a property needing a mortgage it is normal for the purchasers' solicitors to also act for the mortgage company. 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 Accreditation Scheme. Your property lawyer should contact your lender and see if they can apply for membership of their conveyancing panel, but if that is not viable they will instruct their own lawyers to represent them. You don't have to instruct a firm on the lender’s conveyancing panel as you are at liberty to use your preferred Hagley lawyers, in which case your legal fees may increase, and it will likely delay the transaction as you have another set of people involved.
Can you help - my lawyer advises that absentee landlord insurance is needed on my purchase. What is the level of cover for Hagley conveyancing?
The right level of absentee landlord indemnity insurance depends on who your lender is. It would differ for example between National Westminster Bank and Bank of Scotland. Conveyancing lawyers as opposed to members of the public take out such insurances.
I have decided to exercise my right to buy my property in Hagley off the council. I have a mortgage offer with Bank of Ireland. Conveyancing is new to me. Can I proceed without a solicitor easily? I think we can but we keep being told I should have one. Any advice?
It is not advisable to proceed with a house purchase without a solicitor. The council's solicitor are not acting for you. You need a solicitor for a number reasons. One of which is to verify what plans the Council have for repairs and refurbishment for the next five years. Many leaseholders have been stung for contributions of thousands of pounds. In any event, if you are getting a mortgage with Bank of Ireland, you will need to appoint a solicitor on the Bank of Ireland conveyancing panel.
I recently had an offer agreed on a house in Hagley. My mortgage broker suggested a conveyancing practitioner. I paid an advanced payment of £225. A few days later, the lawyer called me to say that they were not on the Skipton conveyancing panel. Am I right in thinking that I should be due a refund?
You should be able to recover this from the law firm if they were not on the Skipton panel. They should have asked at the outset which lender you were obtaining a mortgage with. An important lesson to readers of this site is to check that the lawyers are on the appropriate lender panel.
Have completed on a a detached house in Hagley , how long will it take for the Land Registry to deal with the formalities evidencing my ownership? My Hagley conveyancing solicitor has been very slow, so I want to be certain the land registry aspects are addressed.
As far as conveyancing in Hagley registration is no quicker or slower than the rest of the country. As opposed to being determined by geographic area, timeframes can vary according to who lodges the application, whether there are errors and whether the Land registry must send notices to any interested persons or bodies. Currently approximately 80% of such applications are completed within 12 days but some can be subject to extensive hold-ups. Registration is effected after the buyer has moved in to the premises so an expedited registration is not usually top priority but where there is a degree of urgency associated with the registration then you or your solicitor must speak with the land registry and explain the circumstances.
In surfing the internet for the words on line conveyancing in Hagley it brings up numerous property lawyersin the vicinity. With so much choice what is the best way to find the right solicitor for me?
The best way of finding a suitable conveyancer is via personal testimonial, so seek the counsel of friends and those you trust who have acquired a property in Hagley or the respected estate agent or financial adviser. Fees for conveyancing in Hagley differ, so it's sensible to obtain a minimum of four quotes from varying types of companies. Dont forget to clarify that the fees are fixed.
I am attracted to a two flats in Hagley which have in the region of forty five years unexpired on the lease term. Do I need to be concerned?
A lease is a right to use the property for a period of time. As the lease shortens the marketability of the lease reduces and results in it becoming more costly to extend the lease. For this reason it is generally wise to increase the term of the lease. Sometimes it is difficult to sell a property with a short lease as mortgage companies less inclined to grant a loan on such properties. Lease extension can be a protracted process. We recommend you get professional assistance from a solicitor and surveyor with experience in this arena.
I own a ground floor flat in Hagley, conveyancing was carried out October 2008. 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? Corresponding flats in Hagley with an extended lease are worth £206,000. The ground rent is £45 invoiced annually. The lease ceases on 21st October 2091
With just 66 years remaining on your lease the likely cost is going to span between £11,400 and £13,200 plus legals.
The suggested premium range above a general guide to costs for renewing a lease, but we are not able to provide the actual costs without more comprehensive due diligence. Do not use the figures in a Notice of Claim or as an informal offer. There may be other issues that need to be taken into account and you obviously want to be as accurate as possible in your negotiations. You should not move forward based on this information without first getting professional advice.
How does one remove a departed person's name from the title deeds for a house in Hagley?
If a Hagley property is jointly owned and one of the owners dies, their name will not automatically be removed from the Land Registry title. You are not required to remove their name as when it comes to a disposal you would simply be required to evidence as to the reason the other owner is missing from the transfer, ordinarily this takes the form of the probate documents.
With a view to making things more straight forward in the future you may arrange to have the deceased person erased from the title register by applying to the land registry with proof of the death. There is no land registry fee payable.