My previous conveyancer has given a fee estimate £1200 for leasehold conveyancing in St James's. I’m looking to sell a newly refurbished property for £275,000. This sounds too much. Is it in excess of the norm for conveyancing in St James's?
The costs illustration is fractionally on the expensive side. If you shop around you might get the conveyancing a bit cheaper by perhaps £125. That being said, you couldlive to rue opting for an an unknown conveyancer. Remember to enquire that the conveyancer can also act for your mortgage company. You can utilise our comparison tool to get a quote a St James's conveyancing practice on the lender’s conveyancing panel which can often include conveyancing solicitors in St James's.
I am considering applying for a Kent Reliance mortgage for purchase of a newly converted (under development) in St James's with 70% LTV. Is it compulsory to choose a solicitor on the conveyancing panel for Kent Reliance ?
In theory, you could use a solicitor that is not on the Kent Reliance conveyancing panel, but Kent Reliance would require one of their panel solicitors to be instructed to act in their interests, and you'd have to pay for this - so most people instruct a panel solicitor. It's also easier, as otherwise you'd have to deal with two solicitors for the same conveyancing matter.
Is it the case that all St James's solicitor firms on the Bank of Ireland conveyancing panel are overseen by the Solicitors Regulatory Authority?
As a firm of solicitors, in order to be on the Bank of Ireland approved list of solicitors they would need to be governed by the Solicitors Regulatory Authority. Many banks do allow licenced conveyancers on their panel in which case such practice would be overseen by the Council of Licensed Conveyancers.
I can not work out if my bank requires a lease extension. I have telephoned my St James's bank branch on numerous occasions and was told it wasn't an issue and they will lend. My St James's conveyancing solicitor - who is on the bank conveyancing panel- called and was told they refuse to lend based on their UK Finance Lenders’ Handbook minimum lease term requirements. Who do I believe?
As long as the conveyancer is on the mortgage company panel, they must adhere to the CML Handbook specifications for the bank. Unless your lawyer obtains specific confirmation in writing that the lender will go ahead, your lawyer has no choice but to refrain from exchanging contract and committing you to the purchase. We would suggest that you ask the mortgage company to contact your lawyer in writing confirming that they will accept the number of years left on the lease.
Having read lots of mortgage guides, I note that it is considered advisable to get your house surveyed prior to buying it. When I asked my local St James's solicitor - who is on the Aldermore conveyancing panel - on this she said they don't do this and I need to contract an independent surveyor. is that correct?
Aldermore will need an independent valuation of the property. Your lawyer will not arrange this. Usually Aldermore will appoint their own surveyor to do this, and you will have to pay for it. Remember that this is a valuation for mortgage purposes and not a survey. Your property lawyer will not organise the survey but they may be able to put you in touch with a local one that they recommend. RICS offers a find a surveyor service (just google it) where you can search for a qualified surveyor by your St James's postcode. As you are getting a mortgage with Aldermore, you could contact them to see if they have a list of approved surveyors in St James's.
What will a local search inform me concerning the property I am buying in St James's?
St James's conveyancing often starts with the applying for local authority searches directly from your local Authority or via a personal search company for example Searches UK The local search plays a central part in most St James's conveyancing purchase; that is if you don’t want any unpleasant surprises after you move into your property. The search should reveal information on, amongst other things, details on planning applications relevant to the premises (whether granted or refused), building control history, any enforcement action, restrictions on permitted development, nearby road schemes, contaminated land and radon gas; in all a total of 13 topic headings.
I decided to have a survey done on a property in St James's before instructing conveyancers. I have been advised that there is a flying freehold aspect to the house. My surveyor advised that some lenders tend refuse to grant a loan on a flying freehold property.
It depends who your proposed lender is. Lloyds has different instructions for example to Nationwide. Should you wish to telephone us we can check with the relevant lender. If you lender is happy to lend one our lawyers can assist as they are accustomed to dealing with flying freeholds in St James's. Conveyancing will be smoother if you use a solicitor in St James's especially if they are familiar with such properties in St James's.
What does commercial conveyancing in St James's cover?
Non domestic conveyancing in St James's incorporates a wide array of guidance, offered by qualified solicitors, relating to business property. For instance, this area of conveyancing can cover the sale or purchase of freehold business premises or, more commonly, the assignment of existing business tenancies or the drafting of new leasing arrangements. Commercial conveyancing solicitors can also offer advice on the sale of business assets, commercial mortgages and the termination of leases.