I have been referred to a conveyancing solicitor in Richmond. I need to find out if they are accepted on the Barclays approved list of lawyers. Could you assist?
You should call the conveyancer and ask them if they can act for the lender. Otherwise you can call Barclays who may be able to confirm.
My partner and I have arranged a further advance on our home loan from HSBC as we wish to carry out a loft conversion to our property in Richmond. Do we need to select a high street Richmond solicitor on the HSBC conveyancing panel to handle the legals?
HSBC don't usually appoint a member of their conveyancing panel to deal with the formalities. If they do require any legal work then you would need to ensure that such a lawyer was on the HSBC conveyancing panel.
I am expecting a OIP from Bank of Ireland this week so we know how much we could potentially offer as otherwise we only have online calculators to go by (which aren't taking into account credit checks etc). Do Bank of Ireland recommend any Richmond solicitors on the Bank of Ireland conveyancing panel, or is it better to go independently?
You will need to appoint Richmond solicitors independently although you'll need to choose one on the Bank of Ireland conveyancing panel. The solicitor represents both you and Bank of Ireland through the process.
I have today made my last payment due on my mortgage with Clydesdale. I assume I don't need a Richmond conveyancing practitioner on the Clydesdale panel to discharge the mortgage at the Land Registry. Please confirm.
If you have finished paying off your Clydesdale mortgage, they may send you evidence showing that you have paid it off. Alternatively they may notify the Land Registry directly. The Land Registry need to see this evidence before they will remove the Clydesdale mortgage from the register. Clydesdale, and any evidence they send you, will determine the action you need to take. In cases where no conveyancer is acting for you and you have paid off your mortgage:
- but are not moving to another property
- where Clydesdale has sent the Land Registry the discharge electronically, and
- Clydesdale has instructed the Land Registry to do so
It has been three months following my purchase conveyancing in Richmond took place. I have checked the Land Registry site which shows that I paid £175,000 when infact I paid £215,000. Why the discrepancy?
The price paid figure is taken from the application to register the purchase. It is the figure included in the Transfer (the legal deed which transfers the property from one person to the other) and referred to as the 'consideration' or purchase price. You can report an error in the price paid figure using the LR online form. In most cases errors result from typos so at first glance the figure. Do report it so they can double check and advise.
How does conveyancing in Richmond differ for newly converted properties?
Most buyers of new build or newly converted property in Richmond come to us having been asked by the housebuilder to exchange contracts and commit to the purchase even before the premises is ready to move into. This is because developers in Richmond tend to purchase the site, plan the estate and want to get the plots sold off as they are building the properties. Buyers, therefore, will have to exchange contracts without actually seeing the house they are buying. To reduce the chances of losing the property, buyers should instruct conveyancing solicitors as soon as the property is reserved and mortgage applications should be submitted quickly. Due to the fact that it could be several months and even years between exchange of contracts and completion, the mortgage offer may need to be extended. It would be wise to use a lawyer who specialises in new build conveyancing especially if they are accustomed to new build conveyancing in Richmond or who has acted in the same development.
I've recently bought a leasehold property in Richmond. Am I liable to pay service charges for periods before completion of my purchase?
In a situation where the service charge has already been demanded from the previous lessee and they have not paid you would not usually be personally liable for the arrears. Strange as it may seem, your landlord may still be able to take action to forfeit the lease. A critical element of leasehold conveyancing for your conveyancer to be sure to have an up to date clear service charge receipt before completion of your purchase. If you have a mortgage this is likely to be a requirement of your lender.
If you purchase part way through an accounting year you may be liable for charges not yet demanded even if they relate to a period prior to your purchase. In such circumstances your conveyancer would normally arrange for the seller to set aside some money to cover their part of the period (usually called a service charge retention).
I invested in buying a 1 bedroom flat in Richmond, conveyancing was carried out September 2001. How much will my lease extension cost? Comparable properties in Richmond with a long lease are worth £190,000. The average or mid-range amount of ground rent is £45 invoiced annually. The lease finishes on 21st October 2088
With 62 years unexpired the likely cost is going to span between £17,100 and £19,800 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 in the absence of comprehensive due diligence. You should not use this information in a Notice of Claim or as an informal offer. There may be other issues that need to be considered and you obviously should be as accurate as possible in your negotiations. You should not take any other action based on this information before getting professional advice.
My partner and I have just had an offer agreed on a house and had meeting on Tuesday with Leeds Building Society for the mortgage. They advised me that when it comes to appointing a property lawyer that unless they are on their approved list of conveyancing practitioners then we will incur a further charge of £250+. This is is due to the fact that they will then have to select a property lawyer to act for them in addition to the one we choose to act for ourselves and we are liable for their fees. I have requested Leeds Building Society to provide me with a list so I can obtain estimates only from their approved lawyers but was told that I need to check with each individual lawyer to see if they are on the panel. What would be the best way of going about this?
Ask Leeds Building Society what their panel criteria is for a conveyancer.Thereafter ask the lawyer of your choice whether they fit that criteria and have they acted on loans for Leeds Building Society in the past. If the answer to those is yes, then just double check with Leeds Building Society. Another option is to use our search tool and we may be able to locate a solicitor in Richmond on the panel for Leeds Building Society.