My wife and I are looking to acquire a flat in Hamworthy and have instructed a Hamworthy conveyancing firm. Within the past 48 hours our property lawyer has sent a preliminary report and documents to look through in anticipation of exchanging contracts shortly. The Mortgage Works have this morning contacted us to inform me that they have now hit a problem as our Hamworthy solicitor is not on their conveyancing panel. What do we do from here?
When purchasing a property with mortgage finance it is standard for the purchasers' lawyers 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 solicitor should contact your bank 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 are not legally obliged to appoint a law firm on the lender’s conveyancing panel as you are at liberty to use your preferred Hamworthy lawyers, in which case it will likely add costs, and it may delay matters as you have another set of people involved.
Completed the sale of my flat in Hamworthy last March yet the purchaser is calling me complaining that her solicitor is waiting to hear from mine. What are the post completion sale legalities following completion?
Post completion of your disposal your lawyer should send the transfer deeds and all supplemental paperwork to the purchaser's solicitors. If applicable, your conveyancer should also confirm that the legal charge in favour of the lender has been paid off to the buyers solicitors. There is unlikely to be post completion formalities specific conveyancing in Hamworthy.
My flat in Hamworthy is up for sale and I have a purchaser. Does my solicitor have to be on the Nationwide conveyancing panel in order to deal with repayment of my mortgage?
Ordinarily, even if your lawyer is not on the Nationwide conveyancing panel they can still act for you on your sale. It might be that the lender will not release the original deeds (if applicable and increasingly irrelevant) until after the mortgage is paid off. You should speak to your lawyer directly before you start the process though to ensure that there is no problem as lenders are changing their specifications fairly frequently currently.
Is it possible to swap conveyancer as I need to find one who is on the Nottingham Building Society conveyancing panel. I instructed a local conveyancing solicitor in Hamworthy five minutes from me but he is not approved by Nottingham Building Society
It would be our pleasure to assist you select a conveyancing solicitor in Hamworthy on the Nottingham Building Society panel. Please note that the solicitors that we on the directory do not pay us fee if you instruct them and are authorised and regulated by the SRA who regulate all conveyancing solicitors in Hamworthy. In utilising the find a conveyancing solicitor tool on this website, you can compare and instruct different solicitors and conveyancers both nationally and in Hamworthy.
Do you have any advice for leasehold conveyancing in Hamworthy from the point of view of saving time on the sale process?
- A significant proportion of the delay in leasehold conveyancing in Hamworthy can be bypassed where you appoint lawyers as soon as you market your property and ask them to put together the leasehold information needed by the buyers’ representatives. You believe that you know the number of years remaining on your lease but it would be advisable verify this by asking your lawyers. A purchaser's lawyer will not be happy to advise their client to where the remaining number of years is below 80 years. In the circumstances it is essential at an early stage that you consider whether the lease requires a lease extension. If it does, contact your solicitors before you put your home on the market for sale. If you are supposed to have a share in the Management Company, you should make sure that you have the original share certificate. Arranging a re-issued share certificate can be a lengthy formality and delays many a Hamworthy conveyancing deal. Where a duplicate share is needed, do contact the company director and secretary or managing agents (if applicable) for this as soon as possible. A minority of Hamworthy leases require Landlord’s consent to the sale and approval of the buyers. If this is the case, it would be prudent to notify your estate agents to make sure that the purchasers put in hand bank and professional references. Any bank reference should make it clear that the buyer is able to meet the annual service charge and the actual amount of the service charge should be quoted in the bank’s letter. You will therefore need to provide your estate agents with the service charge figures so that they can pass this information on to the buyers or their solicitors.
I invested in buying a garden flat in Hamworthy, conveyancing was carried out half a dozen years ago. Can you shed any light on how much the price could be for a 90 year extension to my lease? Corresponding properties in Hamworthy with an extended lease are worth £216,000. The ground rent is £50 invoiced every year. The lease terminates on 21st October 2094
With 69 years remaining on your lease the likely cost is going to span between £9,500 and £11,000 as well as costs.
The suggested premium range above a general guide to costs for extending a lease, but we cannot give you the actual costs without more detailed due diligence. You should not use this information 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 should be as accurate as possible in your negotiations. Neither should you move forward based on this information without first seeking the advice of a professional.
The mortgage agreement from a bank for the remortgage of my 3 bedroom maisonette is expected imminently. Are you able to suggest a cheap remortgage conveyancing lawyer in Hamworthy ?
This site is not designed to help in pursuit of the cheapest conveyancing in Hamworthy. Our aim is to provide cost effective conveyancing but we do not advertise as being the cheapest. Resist the temptation to appoint companies offering £99 conveyancing in Hamworthy.At best, in opting for cheap conveyancing, you will end up with what you pay for and at worst you will end up invoiced for extras and still not receive the service expected.