I can't travel far from Kingsdown. Is there a reason why all Kingsdown solicitors are not on all bank panels?
As unjust as it may seem for lenders to limit who can act for them, from the public’s or solicitor’s standpoint, the other side of the coin is that lending institutions are increasingly anxious and consider it essential to defend themselves against mortgage fraud. As a consequence of this concern banks are limiting their conveyancing panel to a size that they are happy to control.
Are all Kingsdown Conveyancing Quality Solicitors on the UBS conveyancing panel?
Some major banks and building societies now utilise CQS as the kick off point for Panel approval such as HSBC and Santander. CQS accreditation however is no guarantee to lender panel acceptance. That being said,the Council of Mortgage Lenders have indicated that it is likely to become a pre-requisite for solicitor practices wishing to remain on their approved list of conveyancing solicitors.
Is it the case that all Kingsdown solicitor practices on the Lloyds conveyancing panel are governed by the SRA?
As a firm of solicitors, in order to be on the Lloyds approved list of solicitors they would need to be governed by the Solicitors Regulatory Authority. Many banks do permit licenced conveyancers on their panel in which case such organisation would be governed by the CLC.
We are getting a further advance on our mortgage from Yorkshire BS as we intend to carry out alterations to our property in Kingsdown. Are we obliged to choose a nearby Kingsdown solicitor on the Yorkshire BS conveyancing panel to handle the legals?
Yorkshire BS don't usually instruct firms on their conveyancing panel to handle the formalities. If they do require any legal work then you would need to ensure that such a lawyer was on the Yorkshire BS panel.
I have justbeen informed that Action Conveyancing have been shut down. They carried out my conveyancing in Kingsdown for a purchase of a freehold house 12 months ago. How can I check that my home is not still registered in the name of the former proprietor?
The quickest method to see if the premises is in your name, you can make a search of the land registry (£3.00). You can either do this yourself or ask a law firm to do this for you. If you are not registered you can seek help from one of a number of Kingsdown conveyancing specialists.
How does conveyancing in Kingsdown differ for new build properties?
Most buyers of new build premises in Kingsdown come to us having been asked by the seller to exchange contracts and commit to the purchase even before the house is completed. This is because house builders in Kingsdown tend to buy the site, plan the estate and want to get the plots sold off as they are building the properties. Buyers, therefore, will have to exchange contracts without actually seeing the house they are buying. To reduce the chances of losing the property, buyers should instruct conveyancing solicitors as soon as the property is reserved and mortgage applications should be submitted quickly. Due to the fact that it could be several months and even years between exchange of contracts and completion, the mortgage offer may need to be extended. It would be wise to use a lawyer who specialises in new build conveyancing especially if they are used to new build conveyancing in Kingsdown or who has acted in the same development.
Are there frequently found problems that you come across in leases for Kingsdown properties?
There is nothing unique about leasehold conveyancing in Kingsdown. Most leases are unique and drafting errors can sometimes mean that certain clauses are erroneous. The following missing provisions could result in a defective lease:
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Maintenance charge proportions which don’t add up to the correct percentage
A defective lease can cause issues when trying to sell a property primarily because it impacts on the ability to obtain a mortgage on the property. Birmingham Midshires, Barnsley Building Society, and Nottingham Building Society all have very detailed conveyancing instructions when it comes to what is expected in a lease. If a mortgage lender believes that the lease is defective they may refuse to grant the mortgage, obliging the buyer to pull out.
Leasehold Conveyancing in Kingsdown - Sample of Queries before Purchasing
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How is the lease structured? What is the service charge and ground rent on the flat? Most Kingsdown leasehold flats will be liable to pay a service bill for the upkeep of the building invoiced by the freeholder. If you purchase the flat you will have to meet this liability, normally in instalments throughout the year. This can vary from a few hundred pounds to thousands of pounds for bigger purpose-built buildings. There will also be a ground rent for you to pay yearly, normally this is not a significant amount, say around £25-£75 but you should to check as sometimes it could be many hundreds of pounds.
I have just placed an offer on an apartment in Kingsdown and the estate agent that we are using suggested his lawyer. He quoted £1000 plus VAT and disbursements. Does this sound steep?
Don't just go on one estimate. You should seek like-for-like quotes for your conveyancing in Kingsdown. Then choose one that you are comfortable with and just as important, is on the approved panel of the bank that you are sourcing your mortgage from.