Do the Building Society Association intend to launch a search tool with a view to list firms on the Earl Shilton BS conveyancing panel for instance in Studley?
Lexsure has not been advised of any intention on the part of the BSA to promote such a tool.
We previously chose solicitors based in Studley on the Coventry BS solicitor panel. They have just invoiced me a supplemental charge for handling the Coventry BS mortgage. Is this an additional conveyancing fee set by Coventry BS?
Unfortunately, as long as it is in their Terms and Conditions or Quote then yes your solicitor is entitled to charge a fee for this. This fee is not dictated by Coventry BS but by your Studley conveyancer. Numerous firms on the Coventry BS panel will quote an ‘acting for lender’ fee but plenty of firms incorporate it on their overall fee.
I am due to exchange contracts on my flat. I had a double glazing fitted in September 2010, but did not receive a FENSA certificate or Building Regulation Certificate. My buyer's lender, Bank of Ireland are being pedantic. The Studley solicitor who is on the Bank of Ireland conveyancing panel is happy to accept ‘lack of building regulation’ insurance but Bank of Ireland are insisting on 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.
I have finally had an offer on a flat in Studley agreed to, but there is a chain. The sellers have put an offer on somewhere, however it’s not been accepted yet, and have viewings of other apartments booked. I have selected a local conveyancing solicitor in Studley. What do I do now? When should I get the mortgage application with Barclays started?
It is usual to have apprehensions where there is a chain as you are unlikely to want to be too out of pocket prematurely (home loan application is approx £1k, then valuation, Studley conveyancing search charges, etc). The first course of action is to ensure that your conveyancer is on the Barclays approved list. Concerning the next stages this very much dictated by the uniqueness of your case, desire for this property and on the state of the market. During a hot market many purchasers would apply for the mortgage with Barclays and pay for the valuation and only if it was satisfactory would they request their conveyancing practitioner to proceed with searches.
The deeds to my home can not be found. The lawyers who conducted the conveyancing in Studley 5 years ago are no longer around. What are my next steps?
You no longer need to have the physical official documentation to prove you own the land or premises, given that the Land Registry have everything they need in a digital format.
How does conveyancing in Studley differ for newly converted properties?
Most buyers of new build property in Studley contact us having been asked by the seller to exchange contracts and commit to the purchase even before the house is constructed. This is because builders in Studley usually purchase the real estate, 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 Studley or who has acted in the same development.
In surfing the internet for the words on line conveyancing in Studley it brings up many conveyancersin the area. How do I determine which is the right solicitor for purchase transaction?
The preferential method of choosing a suitable conveyancer is through a trusted referral, so seek the opinion of colleagues and family who have acquired a property in Studley or the local estate agent or financial adviser. Fees for conveyancing in Studley differ, so it's advisable to obtain at least three fee calculations from varying types of conveyancers. Make sure that you clarify what costs in the quote includes.
Can you offer any advice when it comes to finding a Studley conveyancing firm to deal with our lease extension?
When appointing a property lawyer for your lease extension (regardless if they are a Studley conveyancing practice) it is imperative that they be familiar with the legislation and specialises in this area of conveyancing. We advise that you speak with several firms including non Studley conveyancing practices prior to instructing a firm. If the firm is ALEP accredited then so much the better. The following questions could be of use:
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What volume of lease extensions have they carried out in Studley in the last 12 months? How familiar is the practice with lease extension legislation?
I inherited a 2 bed flat in Studley, conveyancing formalities finalised half a dozen years ago. Can you please calculate a probable premium for a statutory lease extension? Comparable properties in Studley with over 90 years remaining are worth £197,000. The average or mid-range amount of ground rent is £55 invoiced annually. The lease finishes on 21st October 2080
With just 55 years unexpired the likely cost is going to be between £31,400 and £36,200 as well as professional fees.
The suggested premium range above a general guide to costs for renewing a lease, but we are not able to supply the actual costs in the absence of comprehensive due diligence. Do not use this information in a Notice of Claim or as an informal offer. There may be other concerns that need to be taken into account and clearly you want to be as accurate as possible in your negotiations. You should not take any other action placing reliance on this information before seeking the advice of a professional.