We are purchasing a 1 bedroom apartment in Moulton with a mortgage. We like our Moulton conveyancer, however the bank advise she’s not on their "panel". It seems we have no option but to use one of the mortgage company panel conveyancing practices or continue with our Moulton lawyer and pay for one of their panel firms to represent them. This seems very unfair; are we not able to require that the mortgage company use our Moulton property lawyer ?
Unfortunately,no. Your mortgage offer is subject to its terms and conditions, one of which will be that lawyers will on the bank’s conveyancing panel. Until recently, most lenders had large numbers of law firms on their panels: a borrower could choose one for themselves, as long as it was on the lender's panel. The lender would then simply instruct the borrower's lawyers to act for the lender, too. You can use your lender's panel lawyers or you could borrow from another lender which does not restrict your choice. Another option that might be available is for your Moulton conveyancing lawyer to apply to be on the conveyancing panel.
Do the Building Society Association intend to launch a search tool with a view to list law firms on the Norwich and Peterborough Building Society conveyancing panel for instance in Moulton?
Lexsure has not been advised of any intention on the part of the BSA to develop such a search facility.
I need some quick conveyancing in Moulton as I am under a deadline to complete inside 2 weeks. A mortgage is not required. Can I escape the need for conveyancing searches to save money and time?
As you are are a mortgage free buyer you are at liberty not to have searches carried out although no lawyer would advise that you don't. Drawing on our experience of conveyancing in Moulton the following are instances of what can be revealed and therefore affect market value: Enforcement Notices, Overdue Charges, Overdue Grants, Road Schemes,...
I used Arc property Solicitors a few years ago for my conveyancing in Moulton. I now require my papers but the law firm is no longer operating. What do I do?
You should contact the Solicitors Regulatory Authority (SRA) to assist in tracking down your conveyancing files. They can be contacted on please contact on 0870 606 2555. Alternatively, you should use their online form to make an enquiry. You will need to provide the SRA with as much information as possible to assist their search, including the name and address in Moulton of the conveyancing firm of solicitors you previously retained, the name of conveyancing solicitor with whom you had dealings, and the date on which you last had dealings with the firm.
My cousin has recommend that I use his lawyers for conveyancing in Moulton. Do I follow his recommendation?
There are no two ways about it it’s preferable to find a conveyancing practitioner is to seek referrals from friends or relatives who have actually used the conveyancer you're contemplating using.
I am attracted to a couple of flats in Moulton both have in the region of 50 years unexpired on the leases. Do I need to be concerned?
There are plenty of short leases in Moulton. The lease is a legal document that entitles you to use the property for a prescribed time frame. As the lease gets shorter the value of the lease deteriorates and it becomes more costly to acquire a lease extension. For this reason it is often a good idea to increase the term of the lease. It is often difficult to sell a property with a short lease because mortgage companies less inclined to grant a loan on properties of this type. Lease extension can be a difficult process. We recommend you seek professional help from a solicitor and surveyor with experience in this field.
I am the registered owner of a 2 bed flat in Moulton, conveyancing having been completed 8 years ago. Can you please calculate a probable premium for a statutory lease extension? Equivalent flats in Moulton with an extended lease are worth £255,000. The average or mid-range amount of ground rent is £45 charged once a year. The lease comes to an end on 21st October 2099
You have 73 years remaining on your lease we estimate the premium for your lease extension to be between £8,600 and £9,800 plus costs.
The figure above a general guide to costs for renewing a lease, but we cannot give you a more accurate figure without more detailed investigations. You should not use this information in tribunal or court proceedings. There are no doubt other 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 before getting professional advice.