My partner and I are looking to acquire a house in Hemsworth and are in fact using a Hemsworth conveyancing practice. Within the last couple of days our solicitor has sent a preliminary report and documents to look through with the expectation that exchange is imminent. Alliance & Leicester have this afternoon contacted us to inform me that they have now hit a problem as our Hemsworth solicitor is not on their approved list of lawyers. Is this a problem?
If you are buying a property needing a mortgage it is standard for the purchasers' solicitors to also represent 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 mortgage company and see if they can apply for membership of their conveyancing panel, but if that is not viable they will instruct their own solicitors to act. You don't have to instruct a firm on the lender’s conveyancing panel as you are at liberty to use your preferred Hemsworth lawyers, in which case it will likely add costs, and it will likely delay the transaction as you are adding another lawyer into the mix.
Finally the sale completed on my house in Hemsworth last July but the buyer keeps e-mailing every few hours complaining that their lawyer needs to hear from mine. What should have happened now that I have sold?
After completion of your sale your conveyancer should deliver the transfer documentation and all additional paperwork to the purchaser's solicitors. Where appropriate, your solicitor must also evidence that the mortgage has been repaid to the buyers conveyancers. There is unlikely to be post completion formalities peculiar conveyancing in Hemsworth.
I am buying a new build flat in Hemsworth. How practical is it for me to do the conveyancing?
Leaving aside the complexities and merits of DIY conveyancing in Hemsworth you will have to appoint a solicitor on your bank's conveyancing panel to look after their interests. Most people therefore find it easier to let the solicitor act for them and the lender. Furthermore there is minimal cost savings to be made in you doing conveyancing for yourself and another lawyer conducting the conveyancing for the lender. Please feel free to use the search tool to find a lawyer on your lender panel in Hemsworth.
Various online forums that I have frequented warn that are the main reason for obstruction in Hemsworth conveyancing transactions. Is this right?
The Council of Property Search Organisations (CoPSO) released findings of research by MoveWithUs that conveyancing searches do not feature amongst the common causes of hindrances in the conveyancing process. Local searches are unlikely to feature in any delay in conveyancing in Hemsworth.
My company is looking to lease a unit on the high street. Can you recommend solicitors offering no-sale-no fees for non-domestic conveyancing in Hemsworth for under £2000?
We are happy to recommend firms who have specialist knowledge of commercial conveyancing in Hemsworth, including the sale and purchase of businesses as well as simply property. If you are hoping to acquire or dispose of a shop, pub, restaurant, office, retail unit or a complete business we can put you in touch with the right lawyer. Regarding the charges this will depend on the structure and terms of the proposed transaction. Please provide us with your details or phone us so that we can furnish you with a fixed commercial conveyancing calculation.
What are your top tips when it comes to finding a Hemsworth conveyancing practice to carry out our lease extension conveyancing?
If you are instructing a property lawyer for your lease extension (regardless if they are a Hemsworth conveyancing firm) it is essential that he or she should be familiar with the legislation and specialises in this area of conveyancing. We advise that you talk with two or three firms including non Hemsworth conveyancing practices prior to instructing a firm. Where the conveyancing practice is ALEP accredited then so much the better. The following questions might be of use:
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What are the legal fees for lease extension work? If the firm is not ALEP accredited then why not?
I invested in buying a ground floor flat in Hemsworth, conveyancing formalities finalised in 2010. Can you give me give me an indication of the likely cost of a lease extension? Comparable properties in Hemsworth with an extended lease are worth £216,000. The ground rent is £50 levied per year. The lease runs out on 21st October 2095
With just 69 years remaining on your lease the likely cost is going to range between £9,500 and £11,000 as well as legals.
The figure above a general guide to costs for extending a lease, but we cannot give you the actual costs in the absence of detailed due diligence. Do 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 clearly you want to be as accurate as possible in your negotiations. Neither should you take any other action placing reliance on this information without first seeking the advice of a professional.