Recently been in touch with my conveyancing lawyer in Sneinton who conducted the legals 18 months ago and wanted a conveyancing costs illustration based on the same type of home move (a leasehold property and a freehold premises) of similar values with a loan from HSBC Bank. It looks as though am now being quoted twice the amount. Should I look for an alternative conveyancer?
The quote is fractionally on the steep side. If you you were to look around you could shave off some of the cost by as much as a hundred pounds. That being said, providing that you were content with the assistance the firm provided you mightcome to rue opting for an an untested solicitor. Remember to check that the firm can act for HSBC Bank. Do utilise our search tool to locate a Sneinton conveyancing firm on the HSBC Bank member panel, which can often include conveyancing solicitors in Sneinton.
Can you clarify what the consequences are if my solicitor is expelled from the Aldermore Conveyancing panel ahead of completing my conveyancing in Sneinton?
The first thing to point out is that, this is very unlikely to happen. In most cases even where a law firm is removed off of a panel the lender would allow the completion to go ahead as the lender would appreciate the difficulties that they would place you in if you have to instruct a new solicitor days before completion. In a worst case scenario where the lender insists that you instruct a new firm then it is possible for a very good lawyer to expedite the conveyancing albeit that you may pay a significant premium for this. The analogous situation is where a buyer instructs a lawyer, exchanges contracts and the law firm is shut down by a regulator such as the SRA. Again, in this situation you can find lawyers who can troubleshoot their way to bring the conveyancing to a satisfactory conclusion - albeit for a fee.
A colleague advised me that in buying a property in Sneinton there could be various restrictions limiting what one can do in terms of external alterations to a property. Is this right?
There are a number of properties in Sneinton which have some sort of restriction or requirement of consent to external alterations. Part of the conveyancing in Sneinton should determine what restrictions are applicable and advising you as part of a ROT that should be sent to you.
I am selling my flat. I had a double glazing fitted in January 2010, but did not receive a FENSA certificate or Building Regulation Certificate. My purchaser’s lender, Bank of Ireland are being problematic. The Sneinton solicitor who is on the Bank of Ireland conveyancing panel is recommending indemnity insurance as a solution but Bank of Ireland are requiring a building regulation certificate. Why do Bank of Ireland have a conveyancing panel if they don't accept advice from them?
It is probably the case that Bank of Ireland have referred the matter to their valuer. The reason why Bank of Ireland may not want to accept indemnity insurance is because it does not give them any reassurance that the double glazing was correctly and safely installed. The indemnity insurance merely protects against enforcement action which is very unlikely anyway.
RBS have agreed my home loan in principle, my offer on a flat in Sneinton has been agreed to, now what?
Your estate agent will want to be informed of your conveyancing practitioner's details (be sure the conveyancers are on the lender’s approved list). Telephone RBS or your financial adviser and complete any outstanding documentation. RBS will instruct a valuer who will get in contact with the selling agent or seller to schedule a slot for the valuation to take place. Once conducted (assuming no problems) it takes about a fortnight for the mortgage offer to be issued. RBS will send the offer to you and your property lawyers. The transaction will then take it’s course according the nature and complexity of the conveyancing in Sneinton.
How does conveyancing in Sneinton differ for new build properties?
Most buyers of new build premises in Sneinton come to us having been asked by the builder to exchange contracts and commit to the purchase even before the premises is constructed. This is because house builders in Sneinton usually acquire 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 used to new build conveyancing in Sneinton or who has acted in the same development.
Over the last few months I have been searching for a ground for flat up to £305k and found one close by in Sneinton I like with open areas and railway links in the vicinity, however it's only got 51 years unexpired on the lease. There is not much else in Sneinton for this price, so just wondered if I would be making a grave error purchasing a short lease?
Should you need a home loan that many years may be an issue. Discount the offer by the amount the lease extension will cost if not already taken into account. If the existing proprietor has owned the property for a minimum of 2 years you could request that they commence the lease extension formalities and pass it to you. You can add 90 years to the current lease term and have £0 ground rent by law. You should speak to your conveyancing lawyer regarding this.
My cousin has encouraged me to instruct his conveyancing solicitors in Sneinton. Should I use them?
No doubt the best way to find a conveyancing practitioner is to seek feedback from friends or relatives who have actually experience in using the firm you're considering.