My mortgage broker says he needs my South Brent lawyer’ panel reference for the Lloyds conveyancing panel. What is the best way to discover this. I have contacted my local South Brent office but they have not responded to me.
You are best placed to get this information from your South Brent conveyancer . They keep a central record lender panel numbers.
I am buying a new build apartment in South Brent. Conveyancing is necessary evil at the best of times but I have never purchased a new build flat before. Can you give me some examples of some of the questions asked in new build conveyancing.
Here are examples of a selection of leasehold new build enquiries that you can expect your new-build leasehold conveyancing in South Brent
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Has the Lease plan been approved by the Land Registry and if not when will they be lodged for this purpose? Please confirm the Lease plans are architect prepared. Will control of the Management Company (if any) be handed over to purchasers on completion of the last sale or earlier? Will the freehold then be transferred for a nominal consideration (not exceeding £100) to the Management Company?
Yesterday I discovered that there is a flying freehold element on a property I put an offer in two weeks back in what was supposed to be a quick, no chain conveyancing. South Brent is the location of the property. Can you offer any advice?
Flying freeholds in South Brent are unusual but are more likely to exist in relation to terraced houses. Even though you don't necessarily need a conveyancing solicitor in South Brent you must be sure that your lawyer goes through the deeds very carefully. Your mortgage company may require your conveyancing solicitor to take out an indemnity policy. Some of the more diligent conveyancing solicitors in South Brent may decide that this is not enough and that the deeds be re-written to give you the most up to date legal protection. If so, the next door neighbour also had to sign up to the revised deeds.It is possible that your lender will not accept the situation so the sooner you find out the better. You should also check with your insurance broker as to whether they will insure a flying freehold property.
Should I be wary about brokers that I am dealing with are recommending a web based conveyancing firm as opposed to a local South Brent conveyancing company?
As with lots of professional services, often referrals from family and friends can be extremely useful or valuable. But there are many parties with a keen interest in a conveyancing transaction; estate agents, financial adviser and mortgage companies might all put forward conveyancers to choose. Sometimes these lawyers might be known to one of the organisations as being good in their field, but occasionally there behind the scenes commercial relationship behind the recommendation. You have the discretion to choose your preferred lawyer. Don't forget that some mortgage providers specify a panel list of solicitors you are obliged to use for the lender related work in your conveyancing.
All being well we will complete the disposal of our £325,000 apartment in South Brent next Wednesday. The freeholder has quoted £384 for Certificate of Compliance, insurance certificate and 3 years service charge statements. Is the landlord entitled to charge an administration fee for a flat conveyance in South Brent?
For most leasehold sales in South Brent conveyancing will involve, queries regarding the management of a building inevitably needing to be answered directly by the freeholder or its agent, this includes :
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Answering pre-contract enquiries
Where consent is required before sale in South Brent
Supplying insurance information
Deeds of covenant upon sale
Registering of the assignment of the change of lessee after a sale
I inherited a leasehold flat in South Brent, conveyancing was carried out 7 years ago. Can you shed any light on how much the price could be for a 90 year extension to my lease? Comparable properties in South Brent with over 90 years remaining are worth £185,000. The ground rent is £65 invoiced every year. The lease ceases on 21st October 2087
With just 61 years unexpired we estimate the premium for your lease extension to range between £18,100 and £20,800 plus professional fees.
The suggested premium range above a general guide to costs for renewing a lease, but we cannot give you a more accurate figure without more comprehensive due diligence. Do not use the figures in tribunal or court proceedings. There are no doubt other issues that need to be taken into account and clearly you want to be as accurate as possible in your negotiations. Please do not take any other action placing reliance on this information before getting professional advice.
My wife and I are buying a 2 bedroom flat in South Brent. At the time of instructing our solicitor, we were told they were on all mainstream lender panels. The financial adviser contacted us yesterday to advise that they are not on the Bank of Ireland approved list. If it turns out to be true, what should we do? Should we just find a new conveyancing practitioner that is on their approved list or should we pay for dual representation, with Bank of Ireland appointing their own preferred conveyancing practitioner.
If you are acquiring a property requiring a mortgage it is conventional for the buyer’s solicitors to also represent the purchaser's lender. In order to act for a bank or building society a conveyancer has to be on that lender's conveyancing panel. An application has to be made by the lawyer to the lender to become a member of the lender's panel and there are increasingly strict conditions which the property lawyer has to fulfill. Some building societies now require their panel members to be part of the Law Society’s Conveyancing Accreditation Scheme. Your lawyer should call Bank of Ireland and see if they can apply for membership of their conveyancing panel, but if that is not viable they will instruct their own lawyers to represent them. You are not legally obliged to appoint a law firm on Bank of Ireland's conveyancing panel and you may continue to use your own South Brent solicitors, in which case it will likely add costs, and it may delay matters as you are adding another property lawyer into the equation.