I am in the process of selling my apartment in Hinckley and the estate agent has just telephoned to say that the purchasers are changing their property lawyer. I am told that this is due to the fact that the bank will only work with property lawyers on their conveyancing panel. On what basis would a major lender only deal with certain lawyers rather the firm that they want to appoint for their conveyancing in Hinckley ?
Mortgage companies have always had panels of law firms they are content to work with, but in the past few years big names such as Santander, have considered and reduced their conveyancing panel– in some cases removing conveyancing firms who have worked with them for many years.
Lending institutions blame a rise in fraud by way of justification for the pruning – criteria have been tightened as a smaller panel is easier to maintain. Banks tend not to disclose how many solicitors have been dropped, claiming the information is commercially sensitive, but the Law Society says it is being contacted daily by practices that have been removed from panels. Some do not even realise they have been dropped until contacted by a borrower who has instructed them as might be the situation in your buyers' case. The buyers are unlikely to have any sway in the decision.
Would the conveyancing lawyers to be found on your site conduct auction conveyancing in Hinckley?
We know of a few auction solicitors we can connect you with those specialising in auction conveyancing. Hinckley is just one of the many areas of in which our lawyers have a presence.
Me and my partner are purchasing a apartment in Hinckley. I might seem paranoid but how we can trust a solicitor? On the day of competition we have to send our life savings into their account. What is the protection we have from them run away with our deposit?
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.
A relative advised me that in purchasing a property in Hinckley there could be various restrictions affecting the ability to carry out external changes to a property. Is this right?
We are aware of anumerous of properties in Hinckley which have some sort of restriction or requirement of consent to execute external changes. Part of the conveyancing in Hinckley should determine what restrictions are applicable and advising you as part of a ROT that should be sent to you.
I have today made my last payment due on my mortgage with Leeds Building Society. I assume I don't need a Hinckley lawyer on the Leeds Building Society panel to remove the mortgage at the Land Registry. Am I right?
If you have finished paying off your Leeds Building Society mortgage, they may send you evidence showing that you have paid it off. Alternatively they may notify the Land Registry directly. The Land Registry need to see this evidence before they will remove the Leeds Building Society mortgage from the register. Leeds Building Society, and any evidence they send you, will determine the action you need to take. In cases where no conveyancer is acting for you and you have paid off your mortgage:
- but are not moving to another property
- where Leeds Building Society has sent the Land Registry the discharge electronically, and
- Leeds Building Society has instructed the Land Registry to do so
I need to appoint a conveyancing solicitor for purchase conveyancing in Hinckley. I have land on a site which appears to be the perfect offering If it is possible to get all this stuff completed via phone that would be preferable. Do I need to be wary? What should out be looking out for?
As usual with these online conveyancers you need to read ALL the small print - did you notice the extra charge for dealing with the mortgage?
Helen (my wife) and I may need to sub-let our Hinckley 1st floor flat for a while due to taking a sabbatical. We instructed a Hinckley conveyancing firm in 2004 but they have closed and we did not have the foresight to get any guidance as to whether the lease prohibits the subletting of the flat. How do we find out?
A lease dictates the relationship between the landlord and you the flat owner; specifically, it will say if subletting is not allowed, or permitted but only subject to certain conditions. The rule is that if the lease contains no specific ban or restriction, subletting is allowed. Most leases in Hinckley do not prevent strict prohibition on subletting – such a provision would undoubtedly devalue the property. In most cases there is a basic requirement that the owner notifies the freeholder, possibly sending a copy of the tenancy agreement.
I acquired a garden flat in Hinckley, conveyancing was carried out half a dozen years ago. 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? Comparable properties in Hinckley with over 90 years remaining are worth £190,000. The average or mid-range amount of ground rent is £45 charged once a year. The lease ends on 21st October 2087
With 62 years left to run the likely cost is going to span between £17,100 and £19,800 as well as costs.
The figure above a general guide to costs for extending a lease, but we are not able to supply the actual costs in the absence of comprehensive due diligence. You should not use the figures in a Notice of Claim or as an informal offer. There are no doubt additional issues that need to be considered and clearly you want to be as accurate as possible in your negotiations. Neither should you take any other action based on this information before getting professional advice.
If instructed can a conveyancer remove a name from the title of my property in Hinckley ?
Removing or adding someone to the title of your property is relatively straightforward. You’ll need to appoint a lawyer to discuss your legal rights before you can proceed with a transfer of property. Contact us to book a free consultation with one a conveyancing practitioner