My wife and I are planning to purchase a property in Plympton and have instructed a Plympton conveyancing firm. Within the last couple of days our solicitor has sent a preliminary report and documents to look through with the expectation that exchange is imminent. Skipton Building Society have this afternoon contacted us to inform me that they have now hit a problem as our Plympton solicitor is not on their conveyancing panel. What do we do from here?
When purchasing a property with the benefit of a mortgage it is normal 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 lender and see if they can apply for membership of their conveyancing panel, but if that is not viable they will instruct their own lawyers to represent them. You don't have to instruct a firm on the lender’s conveyancing panel and you may continue to use your own Plympton solicitors, in which case it will likely add costs, and it may delay matters as you are adding another lawyer into the mix.
We're in Plympton, First time buyers purchasing with a mortgage (lender is Clydesdale , and our lawyer is on the Clydesdale conveyancing panel). How long should the conveyancing process take?
The fact that your lawyer is on the Clydesdale conveyancing panel is a help. It would almost certainly delay matters if they were not. However, no conveyancer should guarantee a timeframe for your conveyancing, due to third parties outside of your control such as delays caused by lenders,conveyancing search providers or by the other side’s solicitors. The time taken is often determined by the number of parties in a chain.
Do I choose a Licenced Conveyancer or Solicitor for conveyancing in Plympton?
There are many registered licenced Conveyancers in Plympton and Solicitor firms in Plympton who can assist with your conveyancing We would stress that both are supervised by regulatory bodies with both specialising in the legal work in the home buying process. They may both also deal with other property legal work such as remortgage conveyancing, enfranchisement and transfer of equity conveyancing.
Is it the case that all Plympton CQS (Conveyancing Quality Scheme) solicitors are on the Nationwide conveyancing panel?
A selection of banks and building societies now use CQS as the starting point for Panel membership such as HSBC and Santander. The Law Society’s CQS accreditation however is 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 remain on their approved list of conveyancing solicitors.
The formalities of my purchase has taken place for my property in Plympton. Conveyancing was a necessary evil but I feel I should register my dissatisfaction about the lender. How does one go about formally complaining?
All banks and building societies have complaints procedures. Your first port of call should be one of the lender’s branches or the Customer Care Team at head office. We understand that complaints to a lender are sorted out effectively and efficiently. If you feel the matter is not resolved you can write to Financial Ombudsman Service, South Quay Plaza, 183 Marsh Wall, London E14 9SR who will take matters further.
We are downsizing from our home in Plympton and the buyers lawyers are claiming that there is a risk of it being built on contaminated land. A local conveyancer would know this is not the case. It does beg the question why the buyers instructed an online conveyancing outfit as opposed to a conveyancing solicitor in Plympton. Having lived in Plympton for six years we know that this is a non issue. Do we contact our local Authority to get clarification that there is no issue.
It would appear that you have a conveyancing firm already. What do they say? You should 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 sickness)
I opted to have a survey completed on a house in Plympton before retaining solicitors. I have been informed that there is a flying freehold overhang to the house. My surveyor has said that some mortgage companies will refuse to issue a loan on this type of home.
It depends who your proposed lender is. HSBC has different requirements from Birmingham Midshires. Should you wish to call us we can check with the appropriate bank. If you lender is happy to lend one our lawyers can assist as they are accustomed to dealing with flying freeholds in Plympton. Conveyancing may be slightly more expensive based on your lender's requirements.
I wish to let out my leasehold apartment in Plympton. Conveyancing solicitor who did the purchase is retired - so can't ask her. Is permission from the freeholder required?
Notwithstanding that your previous Plympton conveyancing solicitor is not available you can check your lease to see if you are permitted to let out the apartment. The rule is that if the deeds are silent, subletting is allowed. Quite often there is a prerequisite that you need to obtain permission via your landlord or other appropriate person prior to subletting. This means that you cannot sublet without first obtaining consent. Such consent must not not be unreasonably withheld. If the lease does not allow you to sublet you will need to ask your landlord for their consent.
I invested in buying a split level flat in Plympton, conveyancing having been completed half a dozen years ago. Can you work out an approximate cost of a lease extension? Corresponding flats in Plympton with over 90 years remaining are worth £190,000. The average or mid-range amount of ground rent is £65 levied per year. The lease expires on 21st October 2086
With only 61 years remaining on your lease we estimate the premium for your lease extension to be between £19,000 and £22,000 as well as plus your own and the landlord's "reasonable" professional fees.
The suggested premium range that we have given is a general guide to costs for extending a lease, but we cannot give you a more accurate figure in the absence of comprehensive due diligence. You should not use the figures in a Notice of Claim or as an informal offer. There may be additional issues that need to be considered and clearly you should be as accurate as possible in your negotiations. Please do not move forward placing reliance on this information without first seeking the advice of a professional.