I have just been advised by my mortgage adviser that my Stoke Gifford the law firm I have appointed is not on the bank Solicitor panel. How can I be certain whether this is indeed the case?
The first thing you need to do is to contact your Stoke Gifford lawyer directly. It is reasonable to expect your lawyer to inform you of the situation. Where they are not on the panel they could put your in touch with solicitors on the approved list of lawyers for your mortgage company.
I had intended to instruct a conveyancing solicitor in Stoke Gifford for our house move. Our financial adviser informed us that our bank Yorkshire Building Society won't deal with them. Why is this not regarded as unfair competition?
Banks in the main imposes restrictions either the type or the amount of conveyancing firms on their member panel. A common example of such restriction(s) being that a law practice must not be a sole practitioner. In addition to restricting the profile of firm, a few banks have reduced the amount of solicitor practices they use to act for them. Be aware that Yorkshire Building Society have no responsibility for the quality of advice provided by any member of Yorkshire Building Society Conveyancer Panel. Mortgage fraud was a primary driver in the rationalisation of solicitor panels since 2008 even though there remains mixed opinions regarding the extent of solicitor involvement in some of that fraud. Data from the Land Registry indicate that thousands of law firms, including some in or near Stoke Gifford only carry out one or two conveyances per annum.
I know that there are debates on Chancel Insurance on online forums. Am I compelled to have this when acquiring a residence in Stoke Gifford? or Apparently there is historic law that could mean that house owners residing in a parish church boundary will be compelled to pay for maintenance towards the chancel within the church. Is this suitable for conveyancing in Stoke Gifford?
Unless a prior purchase of the house took place post 12 October 2013 you could expect conveyancing practitioners delivering conveyancing in Stoke Gifford to remain encouraging a chancel search and or chancel repair liability insurance.
Am I right to be suspicious by third parties that I am dealing with are suggesting a factory type conveyancing firm rather than a High Street Stoke Gifford conveyancing company?
As with lots of professional services, often suggestions from family and friends can be very helpful. But there are lots of players in a conveyancing deal; estate agents, mortgage brokers and lenders might all suggest solicitors to choose. Sometimes these solicitors might be known to one of the organisations as one of the best in their field, but sometimes there exists a financial incentive behind the recommendation. You are free to choose your own lawyer. You need to be aware that some lenders have an approved list of law firms you are obliged to use for the lender aspect of your home move.
In my capacity as executor for the will of my aunt I am disposing of a house in Newport but live in Stoke Gifford. My solicitor (based 250 miles awayrequires that I execute a stat dec before completion. Can you recommend a conveyancing lawyer in Stoke Gifford who can attest and place their company stamp on the document?
Technically speaking you are not likely to need to have the documents attested by a conveyancing solicitor. Normally any notary public or solicitor will do regardless of whether they are located in Stoke Gifford
I am employed by a busy estate agency in Stoke Gifford where we have witnessed a number of flat sales derailed due to leases having less than 80 years remaining. I have received inconsistent advice from local Stoke Gifford conveyancing firms. Can you clarify whether the vendor of a flat can instigate the lease extension process for the purchaser on completion of the sale?
As long as the seller has owned the lease for at least 2 years it is possible, to serve a Section 42 notice to kick-start the lease extension process and assign the benefit of the notice to the purchaser. The benefit of this is that the proposed purchaser 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 needs to be completed prior to, or simultaneously with completion of the disposal of the property.
An alternative approach is 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 own a 2 bed flat in Stoke Gifford, conveyancing was carried out in 2010. Can you please calculate a probable premium for a statutory lease extension? Similar flats in Stoke Gifford with an extended lease are worth £201,000. The average or mid-range amount of ground rent is £45 invoiced every year. The lease ceases on 21st October 2089
You have 64 years unexpired the likely cost is going to span between £14,300 and £16,400 plus legals.
The figure above a general guide to costs for renewing a lease, but we are not able to advice on a more accurate figure in the absence of comprehensive due diligence. You should not use the figures in a Notice of Claim or as an informal offer. There are no doubt additional concerns that need to be considered and you obviously want to be as accurate as possible in your negotiations. Neither should you take any other action based on this information before getting professional advice.