Can you clarify what the consequences are if my solicitor is suspended from the Yorkshire BS Conveyancing panel ahead of completing my conveyancing in Norfolk?
First, this is a very rare occurrence. In most cases even where a law firm is removed off of a panel the lender would allow the completion to go ahead as the lender would appreciate the difficulties that they would place you in if you have to instruct a new solicitor days before completion. In a worst case scenario where the lender insists that you instruct a new firm then it is possible for a very good lawyer to expedite the conveyancing albeit that you may pay a significant premium for this. The analogous situation is where a buyer instructs a lawyer, exchanges contracts and the law firm is shut down by a regulator such as the SRA. Again, in this situation you can find lawyers who can troubleshoot their way to bring the conveyancing to a satisfactory conclusion - albeit at a cost.
Various web forums that I have frequented warn that are the number one cause of hinderance in Norfolk house deals. Is this right?
The Council of Property Search Organisations (CoPSO) published findings of a review by MoveWithUs that conveyancing searches do not feature amongst the top 10 causes of delays during the legal transfer of property. Local searches are unlikely to be the root cause of holding up conveyancing in Norfolk.
The deeds to our home are lost. The solicitors who handled the conveyancing in Norfolk 5 years ago are no longer around. What are my next steps?
You no longer need to hold title official documentation to evidence that you are the owner of your registered land or premises, as the Land Registry hold details of all registered land or property electronically.
Due to the guidance of my in-laws I had a survey completed on a house in Norfolk ahead of appointing lawyers. I have been told that there is a flying freehold element to the house. My surveyor advised that some mortgage companies tend not grant a loan on such a property.
It depends who your proposed lender is. Santander has different requirements from Nationwide. If you e-mail us we can investigate further with the relevant mortgage company. If you lender is happy to lend one our lawyers can help as they are used to dealing with flying freeholds in Norfolk. Conveyancing may be slightly more expensive based on your lender's requirements.
How simple is it to use your search tool to choose a conveyancing lawyer in Norfolk on the approved list for my lender?
Step one is to pick a bank such as Birmingham Midshires, Barnsley Building Society or Barclays Direct then type in your preferred area for instance Norfolk. Conveyancing organisations in Norfolk and beyond will then be shown.
What are your top tips when it comes to finding a Norfolk conveyancing firm to deal with our lease extension?
When appointing a conveyancer for your lease extension (regardless if they are a Norfolk conveyancing firm) it is most important that they be familiar with the legislation and specialises in this area of work. We recommend that you speak with several firms including non Norfolk conveyancing practices prior to instructing a firm. If the firm is ALEP accredited then so much the better. The following questions could be of use:
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If the firm is not ALEP accredited then why not? How many lease extensions has the firm completed in Norfolk in the last twenty four months?
I acquired a basement flat in Norfolk, conveyancing having been completed 10 years ago. Can you work out an approximate cost of a lease extension? Comparable flats in Norfolk with a long lease are worth £197,000. The average or mid-range amount of ground rent is £55 levied per year. The lease runs out on 21st October 2082
With only 56 years remaining on your lease we estimate the price of your lease extension to range between £29,500 and £34,000 plus costs.
The suggested premium range that we have given is a general guide to costs for renewing a lease, but we cannot give you the actual costs without more detailed due diligence. You should not use the figures in tribunal or court proceedings. There are no doubt other issues that need to be taken into account and you obviously want to be as accurate as possible in your negotiations. Neither should you take any other action based on this information without first getting professional advice.