I was advised today by my mortgage adviser that my Southam the law firm I have appointed is not on the mortgage company Solicitor panel. What can I do to be sure that this is correct?
You need to call your Southam lawyer directly. You lawyer should inform you what has happened. Where they are not on the panel they could put your in touch with solicitors on the conveyancing panel for your mortgage company.
Can you vouch for a Virgin Money approved Southam conveyancing lawyer that can complete within 10 days? Would it be better to use a local Southam solicitor or an internet firm?
We would be happy to suggest some excellent Southam conveyancing firms. You can also walk up the high street in Southam. Go in to some well established law practices and request to see a conveyancing solicitor for a fee estimate. Mention your time frames together with your reasons and get an assurance on speed. Appoint the one that you are most comfortable with.
Do I choose a Licenced Conveyancer or Solicitor for conveyancing in Southam?
There are many recorded licenced Conveyancers in Southam and Solicitor partnerships in Southam offering conveyancing It is important to make clear that both are supervised by regulatory bodies with both specialising in the legal aspects of transferring property. They may both also handle other property legal work such as remortgage conveyancing, enfranchisement and transfer of equity conveyancing.
When it comes to lenders such as Nationwide, do Southam conveyancers have to pay a fee to be on the conveyancing panel?
We are unaware of any bank fees to register on their list of approved firms, although some do levy an administration fee to deal with the processing of the conveyancing panel submission.
I have today made my last payment due on my mortgage with Clydesdale. I assume I don't need a Southam lawyer on the Clydesdale panel to remove 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
My wife and I have a terraced Georgian property in Southam. Conveyancing solicitor acted for me and Platform Home Loans Ltd. I happened to do a free search for it on the Land Registry database and I saw a couple of entries: the first freehold, the second leasehold under the matching address. I'd like to know for sure, how can I find out??
You need to read the Freehold register you have again and check the Charges Register for mention of a lease. The best way to be sure that you are also the registered proprietor of the leasehold and freehold title as well is to check (£3). It is not completely unheard of in Southam and other areas of the country and poses no real issues for owners other than when they mortgage they have to account for both freehold and leasehold interests when dealing with lenders. You can also question the situation with the conveyancing solicitor who conducted the purchase.
We're new to the buying process - agreed a price, yet the agent advised that the vendor will only go ahead if we appoint the agent's preferred lawyers as they are insisting on a ‘quick sale’. Our preferred option is to instruct a family conveyancer who is familiar with conveyancing in Southam
We suspect that the seller is unaware of this requirement. Should the owner desire ‘a quick sale', alienating a motivated purchaser is is going to put the whole deal at risk. Bypass the agents and go straight to the sellers and make the point that (a)you are serious purchasers (b)you are excited to move forward, with mortgage lined up © you are unencumbered (d) you wish to move quickly (e)but you intend to use your preferred Southam conveyancing firm - rather thanthe ones that will provide the negotiator at the agency a referral fee or meet his conveyancing targets pre-set by HQ.
I am employed by a busy estate agent office in Southam where we have witnessed a number of flat sales put at risk due to leases having less than 80 years remaining. I have been given conflicting advice from local Southam conveyancing solicitors. Please can you clarify whether the vendor of a flat can commence the lease extension process for the purchaser on completion of the sale?
Provided that the seller has been the owner for at least 2 years it is possible, to serve a Section 42 notice to commence the lease extension process and assign the benefit of the notice to the purchaser. The benefit of this is that the buyer need not have to sit tight for 2 years to extend their lease. Both sets of lawyers will agree to form of assignment. The assignment has to be done before, or simultaneously with completion of the disposal of the property.
Alternatively, it may be possible to agree the lease extension with the freeholder either before or after the sale. If you are informally negotiating there are no rules and so you cannot insist on the landlord agreeing to grant an extension or transferring the benefit of an agreement to the purchaser.
I inherited a ground floor flat in Southam, conveyancing having been completed 4 years ago. Can you please calculate a probable premium for a statutory lease extension? Similar properties in Southam with an extended lease are worth £206,000. The average or mid-range amount of ground rent is £45 per annum. The lease comes to an end on 21st October 2091
You have 66 years remaining on your lease we estimate the premium for your lease extension to span between £12,400 and £14,200 as well as costs.
The suggested premium range above a general guide to costs for renewing a lease, but we cannot give you a more accurate figure in the absence of comprehensive due diligence. Do not use this information in tribunal or court proceedings. There may be other issues that need to be considered and clearly you want to be as accurate as possible in your negotiations. Neither should you take any other action placing reliance on this information before getting professional advice.