My fiance and I are hoping to purchase a flat in Twyford and have appointed a Twyford conveyancing firm. Within the last couple of days our lawyer has sent a preliminary report and documents to look through in anticipation of exchanging contracts shortly. Virgin Money have this morning contacted us to advise us that there is now an issue as our Twyford conveyancer is not on their approved list of lawyers. Please explain?
When purchasing a property with the benefit of a mortgage it is conventional for the purchasers' solicitors to also act for the purchaser's lender. In order to act for a bank or building society a law firm has to be on that lender's conveyancing panel. An application has to be made by the law firm to the lender to become a member of the lender's panel and there are increasingly strict criteria which the firm has to satisfy and indeed some lenders now require their panel members to be part of the Law Society’s Conveyancing Quality Scheme. Your property lawyer should contact your mortgage company 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 don't have to instruct a firm on the bank's conveyancing panel and you may continue to use your own Twyford solicitors, in which case your legal fees may increase, and it will likely delay the transaction as you are adding another lawyer into the mix.
I am in the process of refinancing my property in Twyford, does my lawyer have to be on the Coventry BS Solicitor panel?
In theory, you could use a solicitor that is not on the Coventry BS conveyancing panel, but Coventry BS 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 transaction.
Can I be sure that the Twyford conveyancing solicitor on the UBS panel is any good?
When it comes to conveyancing in Twyford getting recommendations is a sensible starting point. Before you go ahead, check if they offer a no sale no fee offer. Also, you often get what you pay for - a firm which quotes more, will often provide a better service than one advertising the lowest fees. We would always recommend that you speak with the lawyer handling your conveyancing.
The formalities of my remortgage has taken place for my property in Twyford. Conveyancing was of an acceptable standard but I feel I should register my dissatisfaction about the lender. How do I make a complaint?
All lenders have complaints procedures. Your first point of contact should be one of the lender’s branches or the Customer Services Team at head office. Ordinarily complaints to a lender are resolved very quickly. However if you are not satisfied that the matter is not resolved you can write to Financial Ombudsman Service, South Quay Plaza, 183 Marsh Wall, London E14 9SR who will take matters further.
I am due to exchange contracts on my flat. I had a double glazing fitted in March 2008, but did not receive a FENSA certificate or Building Regulation Certificate. My purchaser’s mortgage company, Kent Reliance are being difficult. The Twyford solicitor who is on the Kent Reliance conveyancing panel is recommending indemnity insurance as a solution but Kent Reliance are insisting on a building regulation certificate. Why do Kent Reliance have a conveyancing panel if they don't accept advice from them?
It is probably the case that Kent Reliance have referred the matter to their valuer. The reason why Kent Reliance 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 opted to have a survey completed on a house in Twyford ahead of instructing conveyancers. I have been informed that there is a flying freehold aspect to the property. My surveyor has said that some mortgage companies may not issue a mortgage on this type of home.
It varies from the lender to lender. Lloyds has different requirements from Nationwide. Should you wish to telephone us we can check with the appropriate mortgage company. If you lender is happy to lend one our lawyers can help as they are accustomed to dealing with flying freeholds in Twyford. Conveyancing can be more complicated and therefore you should check with your conveyancing solicitor in Twyford to see if the conveyancing will be more expensive.
I am employed by a long established estate agent office in Twyford where we have experienced a few leasehold sales put at risk as a result of short leases. I have received contradictory information from local Twyford conveyancing firms. Could you shed some light as to whether the seller of a flat can instigate the lease extension formalities for the buyer?
As long as the seller has owned the lease for at least 2 years it is possible, to serve a Section 42 notice to 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 wait 2 years for a lease extension. Both sets of lawyers will agree to form of assignment. The assignment needs to be completed prior to, or simultaneously with completion of the sale.
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 bought a 2 bed flat in Twyford, conveyancing was carried out in 1999. Can you shed any light on how much the price could be for a 90 year extension to my lease? Corresponding properties in Twyford with over 90 years remaining are worth £202,000. The average or mid-range amount of ground rent is £55 per annum. The lease expires on 21st October 2080
With just 56 years left to run the likely cost is going to be between £29,500 and £34,000 plus legals.
The suggested premium range above a general guide to costs for extending a lease, but we are not able to provide a more accurate figure in the absence of detailed due diligence. Do not use this information in tribunal or court proceedings. 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. Please do not move forward placing reliance on this information before getting professional advice.
Is it true that a Twyford conveyancing practice taken to court by a client for not carrying out the appropriate conveyancing investigations?
We are not aware of such a Twyford conveyancing claim but it has been reported that, a couple purchasing a property elsewhere in England successfully won a case against their property lawyer as a consequence of development permission to build a wind farm not being picked up in conveyancing searches.
Where you are buying in Twyford It is important that your solicitor conduct all Twyford conveyancing searches required to ensure you have accurate and current information ahead of buying a home in Twyford.