The conveyancer who assisted with my former purchase has sent a quote for £1150 for fixed fee conveyancing in Potswood. I’m looking to sell a Edwardian property for £175,000. This sounds expensive. Is it above the norm for conveyancing in Potswood?
The estimate does seem a tad overpriced. If you are prepared to expend time scrutinising fee on a like for like basis you could reduce the fees marginally by as much as £125. That being said, you mightlive to regret opting for an a cheaper lawyer. Remember to ensure the firm can represent your bank. You can employ our comparison tool to select a Potswood conveyancing firm on the banks member panel which can often include conveyancing solicitors in Potswood.
Our conveyancer has identified a defect with the lease for the apartment we are buying in Potswood. The other side have put forward defective title insurance as a solution. We are content with insurance and will pay for it. Our conveyancing practitioner says that he must ensure that the lender is content with this solution. Who is the client here, us or the bank?
The short answer to your last question is that, notwithstanding the risk of a conflict of interest, you and the bank are the client. Your conveyancer must comply with the UK Finance Lenders’ Handbook requirements. The UK Finance Lenders’ Handbook conditions require your lawyer to disclose issues such as defects with the lease so that the bank can be afforded the opportunity to check with their valuer as to the extent that the value of the property is affected. Should you refuse to allow your lawyer to make the appropriate notification then your solicitor will have no choice but to discontinue acting for you.
I have a terraced Victorian house in Potswood. Conveyancing practitioner acted for me and Bank of Scotland. I happened to do a free search for it on the Land Registry database and there are a couple of entries: the first freehold, the second leasehold with the matching property. If a house is not a freehold shouldn't I have been informed?
You need to review the Freehold register you have again and check the Charges Register as there may be mention of a lease. The best way to be sure that you are also the registered owner of the leasehold and freehold title as well is to check (£3). It is not completely unheard of in Potswood and other locations in the country and poses no real issues for owners other than when they mortgage they have to account for both freehold and leasehold interests when dealing with mortgage companies. You can also enquire as to the situation with the conveyancing practitioner who completed the work.
I am looking for a leasehold apartment up to £245,000 and identified one close by in Potswood I like with open areas and transport links in the vicinity, however it's only got 52 years unexpired on the lease. There is not much else in Potswood suitable, so just wondered if I would be making a mistake buying a short lease?
If you need a mortgage that many years may be a potential deal breaker. Discount the offer by the anticipated lease extension will cost if not already taken into account. If the existing proprietor has owned the premises for a minimum of twenty four months you may ask them to start the process of the extension and pass it to you. An additional ninety years can be extended on to the current lease term with a zero ground rent applied. You should speak to your conveyancing lawyer about this.
I am thinking of appointing a conveyancing practitioner in Potswood for my house move. Is it possible to review a firm’s record with the profession’s regulator?
Anyone can see documented Solicitor Regulator Association (SRA) determinations resulting from investigations commenced on or after Jan 2008. Go to Check a solicitor's record. For records Pre 2008, or to check a firm's history, telephone 0870 606 2555, 08.00 - 18.00 any week day save for Tuesday when lines open at 9.30am. International callers, call +44 (0)121 329 6800. The SRA sometimes recorded call for training reasons.
I'm buying a property in Potswood. I can find my conveyancer's company on the CLC list, but I can't see my conveyancer's name on the list. Is this a big problem?
Not every individual in the company must be listed by the regulator. As long there is a manager qualified to 'oversee' the work, the actual day-to-day activity can be undertaken by unqualified staff.