My husband and I are planning to buy a home in Parkstone and are in fact using a Parkstone conveyancing firm. Within the last couple of days our solicitor has forwarded the sale agreement to be signed with a detailed report with a view to exchanging next week. Bank of Ireland have this morning contacted us to advise us that they have now hit a problem as our Parkstone solicitor is not on their conveyancing panel. Please explain?
When purchasing a property with the benefit of a mortgage it is standard for the purchasers' solicitors to also act for the mortgage company. In order to act for a bank or building society a law firm has to be on that lender's conveyancing panel. An application has to be made by the law firm to the lender to become a member of the lender's panel and there are increasingly strict criteria which the firm has to satisfy and indeed some lenders now require their panel members to be part of the Law Society’s Conveyancing Quality Scheme. Your solicitor should contact your mortgage company and see if they can apply for membership of their conveyancing panel, but if that is not viable they will instruct their own solicitors to act. You are not legally obliged to appoint a law firm on the lender’s conveyancing panel and you may continue to use your own Parkstone solicitors, in which case your legal fees may increase, and it will likely delay the transaction as you are adding another lawyer into the mix.
I am purchasing a flat and need a conveyancing solicitor in Parkstone who is on the Aldermore solicitor. Can you recommend a local conveyancing firm?
Our service is limited to being a directory service for firms who wish to listed as being on the approved conveyancing panel for Aldermore in certain locations such as Parkstone. We dont recommend any particular firm.
What will a local search reveal about the house we're purchasing in Parkstone?
Parkstone conveyancing often starts with the ordering local authority searches directly from your local Authority or through a personal search company such as Onsearch The local search plays an important role in many a Parkstone conveyancing purchase; that is if you don’t want any unpleasant once you have moved into your property. The search will reveal data on, amongst other things, details on planning applications applicable to the premises (whether granted or refused), building control history, any enforcement action, restrictions on permitted development, nearby road schemes, contaminated land and radon gas; in all a total of thirteen subject areas.
I decided to have a survey done on a house in Parkstone before retaining lawyers. I have been told that there is a flying freehold element to the house. The surveyor has said that some lenders will refuse to grant a mortgage on a flying freehold home.
It depends who your proposed lender is. Lloyds has different requirements from Nationwide. If you call us we can look into this further with the appropriate lender. If you lender is happy to lend one our lawyers can help as they are accustomed to dealing with flying freeholds in Parkstone. Conveyancing can be more complicated and therefore you should check with your conveyancing solicitor in Parkstone to see if the conveyancing will be more expensive.
I am looking into buying my first house which is in Parkstone and I am already nervous. I couldn't find anything specific about Parkstone. Conveyancing will be needed in due course but do you know about the Parkstone area? or perhaps some other tips you can share?
Rather than looking online forget looking online you should go and have a look at Parkstone. In the meantime here are some basic statistics that we found
Do you have any top tips for leasehold conveyancing in Parkstone with the purpose of expediting the sale process?
- A significant proportion of the delay in leasehold conveyancing in Parkstone can be avoided where you instruct lawyers as soon as your agents start marketing the property and request that they start to collate the leasehold information needed by the buyers’ solicitors. If there is a history of any disputes with your freeholder or managing agents it is very important that these are resolved prior to the flat being put on the market. The purchasers and their solicitors will be reluctant to purchase a flat where there is an ongoing dispute. You may have to bite the bullet and discharge any arrears of service charge or settle the dispute prior to completion of the sale. It is therefore preferable to have any dispute settled ahead of the contract papers being issued to the buyers’ solicitors. You are still duty bound to disclose details of the dispute to the buyers, but it is clearly preferable to reveal the dispute as over as opposed to unresolved. If you have carried out any alterations to the property would they have required Landlord’s permission? Have you, for example laid down wooden flooring? Most leases in Parkstone state that internal structural alterations or installing wooden flooring necessitate a licence from the Landlord approving such alterations. Should you dont have the consents to hand you should not contact the landlord without checking with your solicitor before hand. The majority of landlords or managing agents in Parkstone levy fees for supplying management packs for a leasehold premises. You or your lawyers should discover the actual amount of the charges. The management information sought on or before finding a buyer, thus accelerating the process. The average time it takes to obtain the necessary information is three weeks. It is the most frequent cause of delay in leasehold conveyancing in Parkstone.
I own a 2 bed flat in Parkstone, conveyancing was carried out 5 years ago. Can you work out an approximate cost of a lease extension? Corresponding flats in Parkstone with over 90 years remaining are worth £180,000. The average or mid-range amount of ground rent is £65 per annum. The lease ceases on 21st October 2084
You have 59 years remaining on your lease we estimate the premium for your lease extension to range between £20,900 and £24,200 as well as costs.
The figure that we have given is a general guide to costs for extending a lease, but we are not able to advice on a more accurate figure in the absence of detailed due diligence. Do not use the figures in a Notice of Claim or as an informal offer. There may be other issues that need to be taken into account and you obviously should be as accurate as possible in your negotiations. You should not take any other action placing reliance on this information before getting professional advice.