My fiance and I decided to purchase a newly converted flat in Shirley with a residential mortgage from HSBC Bank.We would like to retain our Shirley conveyancing practitioner but HSBC Bank informed us her practice is not listed on their approved list of firms. It seems we are left with little choice but to instruct a HSBC Bank panel firm or keep our local solicitor and pay for a HSBC Bank panel lawyer to act for them. This seems very unfair; is there anything we can do?
No, not really. The mortgage issued to you contains terms and conditions, one of which will be that lawyers needs to be on the HSBC Bank approved list. in the past, most lenders had large numbers of solicitors on their panels: a borrower could find one for themselves, as long as it was on the lender's panel. The lender would then simply instruct the borrower's lawyers to act for the lender, too. You can use your lender's panel lawyers or you could borrow from another lender which does not restrict your choice. Another option that might be available is for your solicitors to apply to be on the conveyancing panel for HSBC Bank
three months have elapsed since my purchase conveyancing in Shirley completed. I have checked the Land Registry website which shows that I paid £200,000 when infact I paid £170,000. 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 residence 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 Shirley differ for new build properties?
Most buyers of new build property in Shirley come to us having been asked by the housebuilder to exchange contracts and commit to the purchase even before the residence is finished. This is because developers in Shirley typically purchase the land, 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 conveyancers 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 Shirley or who has acted in the same development.
My company is planning to lease a unit on a shopping parade. Can you recommend conveyancers offering fixed costs for commercial conveyancing in Shirley for less than £1,200?
We can recommend firms who host a wealth of experience of commercial conveyancing in Shirley, including the disposal and acquisition of businesses as well as simply property. If you are intending to buy or dispose of a shop, pub, restaurant, office, retail premises or a complete business we will find you the right lawyer. Regarding the costs these will vary based on the structure and complexity of the proposed transaction. Let us have your contact information or email us so that we can furnish you with comprehensive commercial conveyancing quote.
Am I best advised to appoint a Shirley conveyancing solicitor who is local to the property I am purchasing? I have an old university friend who can carry out the legal work however her office is 400kilometers away.
The benefit of a high street Shirley conveyancing firm is that you can attend the office to sign paperwork, hand in your ID and apply pressure on them where appropriate. They will also have local intelligence which is a plus. That being said nothing is more important than finding someone that will do a good and efficient job. If if people you trust instructed your friend and the majority were content that should surpass using an unfamiliar Shirley conveyancing lawyer just because they are based in the area.
I inherited a second floor flat in Shirley. Given that I can not reach agreement with the freeholder, can the Leasehold valuation Tribunal determine the amount payable for the purchase of the freehold?
Most certainly. We are happy to put you in touch with a Shirley conveyancing firm who can help.
An example of a Freehold Enfranchisement decision for a Shirley flat is 29 Woodstock Road in April 2014. the Tribunal determined that the premiums to be paid into court in respect of the purchase of the freehold registered at HMLR under Title N0.SY3997 should be £7,217. This case affected 4 flats. The unexpired lease term was 98 years.
What are the frequently found defects that you see in leases for Shirley properties?
There is nothing unique about leasehold conveyancing in Shirley. All leases are drafted differently and drafting errors can sometimes mean that certain clauses are wrong. The following missing provisions could result in a defective lease:
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A duty to insure the building Repairing obligations to or maintain parts of the premises
A defective lease will likely cause issues when trying to sell a property as they can affect a potential buyer’s ability to obtain a mortgage. Lloyds TSB Bank, Bank of Scotland, and Godiva Mortgages Ltd all have very detailed conveyancing instructions when it comes to what is expected in a lease. If a mortgage lender believes that the lease is problematic they may refuse to provide security, forcing the purchaser to pull out.