I am not in a position to travel far from Selsey. I would like to know the logic why all Selsey solicitors aren't automatically on all mortgage company panels?
Even though it may seem unfair for banks to limit who can act for them, from the public’s or conveyancer’s viewpoint, the flip side is that mortgage companies are becoming ever more anxious and regard it vital to protect them against illegal activities. As a consequence of this concern lenders are limiting their conveyancing panel to a size that they are happy to control.
I am assisting my aunt sell her flat in Selsey. Will the conveyancer commission an energy assessment or do I organise this?
Following the abolition of HIPs, energy performance certificates was retained a compulsory part of moving house. An energy performance certificate should be to hand before the property is advertised. This is not something that law firms ordinarily arrange. If you are instructing a Selsey conveyancing lawyer they might help arrange energy performance certificates given their contacts with reputable local accredited person
My wife and I are spending time looking at apartments in Selsey and I am about to put in an offer. Is it best to have my conveyancer on ‘stand by’? I am planning to take a home loan with TSB.
It would be advisable to commence your search sooner rather than later. Once you decide who you want to use and once your offer is accepted you can instruct them to work for you and pass their contact information on to the estate agent. As you are obtaining a mortgage with TSB, ask your prospective lawyers if they are on the TSB conveyancing panel otherwise they can't do the mortgage legal work.
I recently had an offer agreed on a house in Selsey. My financial adviser suggested a solicitor. I paid an advanced payment of £150. A few days later, the lawyer called me to say that they were not on the RBS conveyancing panel. Am I right in thinking that I should be due a refund?
You should be able to recover this from the law firm if they were not on the RBS panel. They should have asked at the outset which lender you were obtaining a mortgage with. An important lesson to readers of this site is to check that the lawyers are on the appropriate lender panel.
Despite weeks of looking the Title Certificate and documents to our house can not be found. The solicitors who handled the conveyancing in Selsey 4 years ago are no longer around. What do I do?
As long as the title is registered the details of your proprietorship will be documented by HMLR under a Title Number. It is possible to carry out a search at the Land Registry, locate your property and get up to date copies of the Registered Entries for less than a fiver. If the title is Leasehold then the Land Registry will in most cases hold a certified duplicate of the Registered Lease and again, a copy can be ordered for twenty pounds.
How does conveyancing in Selsey differ for newly converted properties?
Most buyers of new build or newly converted property in Selsey approach us having been asked by the developer to exchange contracts and commit to the purchase even before the residence is completed. This is because builders in Selsey usually buy the real estate, 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 Selsey or who has acted in the same development.
I have just appointed agents to market my 2 bed apartment in Selsey. Conveyancing lawyers have not yet been instructed, however I have just had a quarterly maintenance charge demand – what should I do?
Your conveyancing lawyer is likely to suggest that you should pay the service charge as you normally would as all rents and service payments will be allotted as part of the financial calculations for completion monies, so you should recover the relevant percentage by the purchaser for the period running from after the completion date to the subsequent invoice date. Most management companies will not acknowledge the buyer until the service charges have been paid and are up to date, so it is important for both buyer and seller for the seller to show that they are up to date. This will smooth the conveyancing process.
I inherited a garden flat in Selsey, conveyancing formalities finalised March 2000. Can you work out an approximate cost of a lease extension? Similar flats in Selsey with over 90 years remaining are worth £175,000. The average or mid-range amount of ground rent is £65 yearly. The lease comes to an end on 21st October 2082
You have 58 years left to run we estimate the premium for your lease extension to span between £23,800 and £27,400 as well as costs.
The figure above a general guide to costs for extending a lease, but we are not able to supply a more accurate figure without more detailed due diligence. You should not use this information in a Notice of Claim or as an informal offer. There may be additional concerns that need to be taken into account and clearly you 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.
My wife and I expecting to exchange buying a house in Selsey but as a consequence of wreckage from the recent storms I have agreed compensation from the vendor of £2k by way of a deduction in the price. This was going to be dealt with as part of the conveyancing process however the bank will not permit this. Should they have been approached?
The lawyer listed on the mortgage company conveyancing panel is duty bound to inform the lender of any amendments to the purchase price. In the event that you were to refuse your conveyancer to report the reduction to your mortgage company then they would have to disinstructing themselves from representing you and the mortgage company.