As someone not used to the Montacute conveyancing process what’s your top tip you can impart for the legal transfer of property in Montacute
You may not hear this from too many lawyers but conveyancing in Montacute and elsewhere in Somerset is an adversarial process. Put another way, when it comes to conveyancing there is lots of opportunity for conflict between you and others involved in the ownership transfer. E.g., the vendor, property agent and on occasion your lender. Selecting a lawyer for your conveyancing in Montacute is a critical decision as your conveyancer is your adviser, and is the ONLY person in the legal process whose responsibility is to act in your best interests and to protect you.
There is a definite creep of a "blame" culture- someone has to be at fault for the process taking so long. We recommend that you your first instinct should be to trust your conveyancer ahead of the other players when it comes to the legal assignment of property.
I have a decision in principle. The bank mentioned the loan came with free conveyancing. Does this mean I have to appoint their panel lawyer as I would prefer to instruct a high street conveyancing solicitor in Montacute?
Do check but the the probability is that appoint one of their panel lawyers should you take up the "fee-free" incentive. Contact the mortgage company to see if they make available a cash alternative. In the past a few lenders offered a £250 cashback as a further option in which case that money can go towards the cost for your conveyancing solicitor near Montacute.
There are numerous conveyancing solicitors in Montacute but how do I know who I should use?
It would be unwise to be tempted by the lowest Montacute conveyancing costs illustration. You really do get what you’re paying for when it comes to property lawyers. A cheap quote may mean that the conveyancing solicitor is handling a lot of jobs at one time and you won’t get the quality of service and the attention that you need. It is, however, wise to use a conveyancer who has a fixed fee on a no sale, no fee basis. This way, you know exactly what you’ll have to pay in ahead of the deal.
Are all Montacute Conveyancing Quality Solicitors on the TSB conveyancing panel?
A selection of lenders now make use of the accreditation scheme as the starting point for Panel approval such as HSBC and Santander. CQS membership however gives no guarantee to lender panel acceptance. That being said,the CML have indicated that it is likely to become a pre-requisite for firms wishing to join their approved list of firms.
I am selling my house. I had a double glazing fitted in February 2008, but did not receive a FENSA certificate or Building Regulation Certificate. My purchaser’s mortgage company, HSBC are being problematic. The Montacute solicitor who is on the HSBC conveyancing panel is recommending indemnity insurance as a solution but HSBC are insisting on a building regulation certificate. Why do HSBC have a conveyancing panel if they don't accept advice from them?
It is probably the case that HSBC have referred the matter to their valuer. The reason why HSBC may not want to accept indemnity insurance is because it does not give them any reassurance that the double glazing was correctly and safely installed. The indemnity insurance merely protects against enforcement action which is very unlikely anyway.
My wife and I are planning on selling our property in Montacute and according to the buyers it appears that there is a risk of it being constructed on contaminated land. Any high street Montacute conveyancer would know this is not the case. It does beg the question why the buyers instructed a factory type conveyancing outfit rather than a conveyancing solicitor in Montacute. We have lived in Montacute for 4 years we know of no issue. Should we get in touch with our local Authority to obtain clarification that there is no issue.
It would appear that you have a conveyancing firm currently acting for you. Are they able to advise? You must enquire of your lawyer before you do anything. It is very possible that once the local authority has been informed of a potential issue it cannot be insured against (a bit like being diagnosed with a serious illness and then taking out life insurance to cover that same illness)
Yesterday I discovered that there is a flying freehold issue on a property I put an offer in a fortnight ago in what was supposed to be a simple, chain free conveyancing. Montacute is the location of the property. Is there any guidance you can impart?
Flying freeholds in Montacute are rare but are more likely to exist in relation to terraced houses. Even though you don't necessarily need a conveyancing solicitor in Montacute you would need to get your solicitor to go through the deeds diligently. Your bank may require your conveyancing solicitor to take out an indemnity policy. Some of the more diligent conveyancing solicitors in Montacute may decide that this is not enough and that the deeds be re-written to give you the most up to date legal protection. If so, the next door neighbour also had to sign up to the revised deeds.It is possible that your lender will not accept the situation so the sooner you find out the better. You should also check with your insurance broker as to whether they will insure a flying freehold property.
What are your top tips when it comes to choosing a Montacute conveyancing firm to deal with our lease extension?
When appointing a solicitor for your lease extension (regardless if they are a Montacute conveyancing practice) it is most important that they be familiar with the legislation and specialises in this area of work. We advise that you make enquires with two or three firms including non Montacute conveyancing practices prior to instructing a firm. Where the conveyancing practice is ALEP accredited then that’s a bonus. The following questions might be helpful:
-
Can they put you in touch with clients in Montacute who can give a testimonial? If the firm is not ALEP accredited then why not?
I acquired a leasehold flat in Montacute, conveyancing formalities finalised in 2008. Can you let me have an estimated range of the fair premium for a lease extension? Corresponding flats in Montacute with over 90 years remaining are worth £165,000. The average or mid-range amount of ground rent is £50 charged once a year. The lease terminates on 21st October 2103
With just 77 years unexpired we estimate the price of your lease extension to span between £7,600 and £8,800 plus legals.
The figure above a general guide to costs for extending a lease, but we are not able to provide the actual costs in the absence of detailed due diligence. Do not use the figures in a Notice of Claim or as an informal offer. There are no doubt other 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 placing reliance on this information before getting professional advice.