Is the fact that my conveyancer in Nag's Head is not listed on my bank's conveyancing panel that there is a problem with the quality of her conveyancing?
That would more than likely be an incorrect assumption to make. There are all sorts of perfectly reasonable explanations. Just recently a report by the solicitors regulator indicated 76% of law firms surveyed had been removed from at least one lender panel. The most common reasons for removal are: (1) lack of transactions (2) the lawyer is a sole practitioner (3) as part of the HSBC panel reduction (4) regulatory contact by SRA (5) accidental removal. Should you be concerned you should contact the Nag's Head conveyancing firm and enquire why they are no longer on the approved list for your lender.
The Nag's Head conveyancing solicitors that I recently instructed on my house acquisition in Nag's Head have suddenly shut down. I only went with them because I had to have a firm on the Nationwide conveyancing panel and my preferred Nag's Head lawyer was not. I wrote them a cheque for two hundred pounds in advance. What should be my next steps?
Assuming that you have an Estate Agent in the equation then let them know immediately so that they can let the sellers know that there may be a slight delay due to reasons beyond your control. Most sellers would be sympathetic and urge their lawyer to send a new set of papers to your new solicitors. You should appoint new lawyers that are on the Nationwide conveyancing panel and notify the lender. If you have paid over any money, it will hopefully be held by the SRA as money in an intervened firm's bank accounts is transferred to the SRA. Then, the SRA or the intervention agent looks at the intervened firm's accounts to work out who the money belongs to. To claim your money you will need to contact the SRA. If the SRA cannot return money you are owed from the firm's bank accounts, or if they can only return part of the money, you can apply to the Compensation Fund for a grant. Your new lawyers should be in a position to assist.
When it comes to lenders such as Principality, do Nag's Head conveyancers have to pay a yearly amount to be on the list of approved solicitors?
We are unaware of any mortgage company fees to register on their list of approved firms, although some do charge an administration fee to deal with the processing of the conveyancing panel application.
Can I be sure that the Nag's Head conveyancing solicitor on the Bank of Ireland panel is any good?
When it comes to conveyancing in Nag's Head seeking recommendations is a sensible start. Before you go ahead, check if they offer a no sale no fee offer. Also, you often get what you pay for - a firm which quotes more, will often provide a better service than one advertising the lowest fees. We would always advocate that you speak with the solicitor conducting your conveyancing.
I recently had an offer accepted on a house in Nag's Head. My financial adviser suggested a conveyancer. I paid an advanced payment of £200. A couple of days later, the conveyancer called me to say that they were not on the Nationwide conveyancing panel. Am I right in thinking that I should be due a refund?
You should be able to recover this from the law firm if they were not on the Nationwide panel. They should have asked at the outset which lender you were obtaining a mortgage with. An important lesson to readers of this site is to check that the lawyers are on the appropriate lender panel.
I am close to exchanging contracts on the sale of our house in Nag's Head and the buyers lawyers are claiming that there is a risk of it being built land that was not decontaminated. A local lawyer would know this is not the case. It does beg the question why the purchasers used an internet conveyancing firm rather than a conveyancing solicitor in Nag's Head. Having lived in Nag's Head for many years we know that this is a non issue. Should we contact our local Authority to obtain clarification need.
It sounds as though you may have a conveyancing lawyer currently acting for you. Are they able to advise? You need to check with 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 health insurance to cover that same ailment)
The estate agent has sent us the confirmation of our purchase of a new build apartment in Nag's Head. Conveyancing is daunting at the best of times but I have never purchased a new build flat before. What sort of enquires would be asked in new build conveyancing.
Set out below is a sample of a few leasehold new build questions that you should expect your new-build leasehold conveyancing in Nag's Head
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Forfeiture - bankruptcy or liquidation must not apply under this provision. Where there is an Undertaking being granted there is the risk of forfeiture of the Headlease subject to relief if one or more of the Underlessees are willing to accept the original Head Lessee’s obligations as otherwise relief will be denied to the Underlessees. The only alternatives are the Head Lessor agreeing not to forfeit the Headlease or the Head Lessee guaranteeing to the Underlessees that it will not be in breach of the Headlease. The Lease must contain a provision on behalf of the Vendor to pay the service charges in respect of unoccupied units in order to ensure that all services can be provided. Will control of the Management Company (if any) be handed over to purchasers on completion of the last sale or earlier? Please supply a car parking plan.
Having checked my lease I have discovered that there are only 62 years remaining on my flat in Nag's Head. I need to get lease extension but my freeholder is missing. What are my options?
On the basis that you meet the appropriate requirements, under the Leasehold Reform, Housing and Urban Development Act 1993 you can apply to the County Court for an order to dispense with the service of the initial notice. This will enable the lease to be granted an extra 90 years by the Court. You will be obliged to demonstrate that you have used your best endeavours to track down the freeholder. In some cases an enquiry agent would be useful to conduct investigations and prepare an expert document which can be accepted by the court as evidence that the freeholder can not be located. It is advisable to get professional help from a solicitor in relation to proving the landlord’s absence and the vesting order request to the County Court overseeing Nag's Head.
After months of negotiations we cannot agree with our landlord on how much the lease extension should cost for our flat in Nag's Head. Can we issue an application to the Residential Property Tribunal Service?
if there is a absentee freeholder or where there is dispute about what the lease extension should cost, under the Leasehold Reform, Housing and Urban Development Act 1993 you can apply to the First-tier Tribunal (Property Chamber) to calculate the premium.
An example of a Freehold Enfranchisement matter before the tribunal for a Nag's Head residence is 51 Lorne Road in November 2009. The price Payable as decided by the tribunal for the freehold reversion was £27,000. The valuation follows the order of the County Court made on 3 April 2008 granting a vesting order. This case was in relation to 1 flat. The number of years remaining on the existing lease(s) was 71 years.