Is the fact that my solicitor in Hockley is not on my lender's conveyancing panel that there is a problem with the standard of her work?
That would more than likely be an incorrect assumption to make. There are plenty of reasonable explanations. A recent report by the solicitors regulator indicated that over three quarters of law firms surveyed had been removed from at least one lender panel. The most common reasons for removal are: (1) low volume of transactions (2) the solicitor is a sole practitioner (3) as part of the HSBC panel reduction (4) regulatory contact by SRA (5) accidental removal. If you are concerned you should contact the Hockley conveyancing firm and enquire why they are no longer on the approved list for your bank.
Is there a reason why leasehold purchase conveyancing in Hockley costs more?
Hockley leasehold conveyancing transactions usually involve additional investigations than freeholds including investigating the Lease, liaising with the Landlord such as serving applicable notices on the Landlord or managing agent, obtaining up-to-date service charge and management information, obtaining Landlord’s consents and reviewing management accounts and formation documents.
Is it necessary during the course of the conveyancing process to visit the offices of the solicitor to sign the mortgage deed? If so, I will instruct a firm who offer conveyancing in Hockley so that I can pop in to their offices if necessary.
Most approved lawyers for mortgage companies carry out their communications via the post, e-mail or over the phone. This means that they can undertake the conveyancing transaction regardless of where you live in England or Wales. That being said you should check if you can still book an appointment to visit conveyancing lawyer if needed.
Do I choose a Licenced Conveyancer or Solicitor for conveyancing in Hockley?
There are many registered licenced Conveyancers in Hockley and Solicitor firms in Hockley who can help with your conveyancing We would stress that both are regulated professionals specialising in the legal work in the home buying process. They may both also conduct other property legal work such as remortgage conveyancing, enfranchisement and transfer of equity conveyancing.
When it comes to mortgage companies such as Santander, do Hockley conveyancing practitioners face an annual charge to be on the conveyancing panel?
We are not aware of any lender fees to register on their panel, although some do charge an administration fee to deal with the processing of the conveyancing panel application.
Is there a list of Nationwide panel conveyancers in Hockley on the Building Society Association’s Website?
No. There is no such directory service on the Council of Mortgage Lenders or Building Society Association websites. Very few lenders make their panel listings available over the internet. If you are looking for a Hockley solicitor on the Nationwide please make the most of our facility.
I opted to have a survey completed on a house in Hockley before retaining solicitors. I have been told that there is a flying freehold overhang to the property. My surveyor has said that some mortgage companies tend not grant a mortgage on this type of premises.
It depends who your proposed lender is. Bank of Scotland has different instructions for example to Nationwide. Should you wish to call us we can check with the relevant lender. If you lender is happy to lend one our lawyers can help as they are used to dealing with flying freeholds in Hockley. Conveyancing will be smoother if you use a solicitor in Hockley especially if they regularly deal with such properties in Hockley.
Our conveyancer has advised that he intends to complete and exchange simultaneously on the disposal of our £275,000 garden flat in Hockley next week. The freeholder has quoted £372 for Landlord’s certificate, building insurance schedule and previous years statements of service charge. Is the landlord entitled to charge such fees for a flat conveyance in Hockley?
Hockley conveyancing on leasehold maisonettes more often than not necessitates the purchaser’s solicitor sending questions for the landlord to answer. Although the landlord is not legally bound to respond to these enquiries the majority will be content to do so. They are at liberty to charge a reasonable charge for responding to enquiries or supplying documentation. There is no upper cap for such fees. The average fee for the paperwork that you are referring to is over three hundred pounds, in some transactions it is in excess of £800. The management information fee levied by the landlord must be sent together with a synopsis of rights and obligations in respect of administration fees, without which the invoice is not strictly payable. In reality you have no option but to pay whatever is demanded if you want to sell the property.
I inherited a 1st floor flat in Hockley, conveyancing was carried out 10 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? Corresponding flats in Hockley with a long lease are worth £180,000. The average or mid-range amount of ground rent is £65 per annum. The lease ceases on 21st October 2083
With only 58 years unexpired the likely cost is going to span between £21,900 and £25,200 plus legals.
The suggested premium range that we have given is a general guide to costs for renewing a lease, but we are not able to advice on a more accurate figure in the absence of detailed due diligence. You should not use the figures in tribunal or court proceedings. There are no doubt additional concerns that need to be considered and clearly you should be as accurate as possible in your negotiations. Neither should you take any other action based on this information without first seeking the advice of a professional.