Is the fact that my conveyancer in Whaley Bridge is not listed on my bank's conveyancing panel that there is a problem with the standard of the firm’s work?
It would be unwise to jump to that conclusion. There are all sorts of perfectly plausible explanations. A recent report by the solicitors regulator indicated that over three quarters of law firms surveyed had been removed from at least one lender panel. The most common reasons for removal are: (1) lack of transactions (2) the lawyer is a sole practitioner (3) as part of the HSBC panel reduction (4) regulatory contact by SRA (5) accidental removal. If you are concerned you should contact the Whaley Bridge conveyancing firm and enquire why they are no longer on the approved list for your lender.
Are the BSA intent on creating a online directory to list law firms on the Norwich and Peterborough Building Society conveyancing panel for example in Whaley Bridge?
We are not aware of any plans on the part of the BSA to promote such a register.
The mortgage over my property is with Aldermore for my property in Whaley Bridge. Conveyancing has been completed a year ago. In the event that I decide to rent out the flat and do not currently have a buy-to-let mortgage do I need to remortgage to a BTL mortgage or inform Aldermore?
You must advise Aldermore before letting out your property as this is likely to be a breach of Aldermore’s mortgage conditions. In many cases banks or building societies will permit you to let out your former home without needing to switch to a buy-to-let mortgage but some lenders will add a surcharge to your mortgage rate to reflect the higher risk. You should contact Aldermore directly. It should not be necessary to do this via a Aldermore conveyancing panel firm.
I am due to exchange contracts on my apartment. I had a double glazing fitted in September 2010, but did not receive a FENSA certificate or Building Regulation Certificate. My purchaser’s mortgage company, HSBC are being a right pain. The Whaley Bridge solicitor who is on the HSBC conveyancing panel is recommending indemnity insurance as a solution but HSBC are requiring a building regulation certificate. Why do HSBC have a conveyancing panel if they don't accept advice from them?
It is probably the case that HSBC have referred the matter to their valuer. The reason why HSBC 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 instructed a Whaley Bridge solicitor having made sure that they are on the Virgin Money conveyancing panel. Does my lawyer arrange the survey of the property?
Virgin Money will need an independent valuation of the property. Your lawyer will not arrange this. Usually Virgin Money 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. You may wish to consider appointing your own Whaley Bridge surveyor to carry out a survey or prepare a home buyers report on the property. It is up to you to satisfy yourself that the property is structurally sound before you buy it. If the survey or report reveals that building work is needed, you should tell your solicitor. You may wish to renegotiate with the seller.
I have been told that property searches are the main cause of obstruction in Whaley Bridge conveyancing transactions. Is that correct?
The Council of Property Search Organisations (CoPSO) has noted the findings of research by MoveWithUs that conveyancing searches do not feature within the most frequent causes of hindrances in the conveyancing process. Searches are not likely to feature in any slowing down conveyancing in Whaley Bridge.
I need to retain a conveyancing solicitor for some conveyancing in Whaley Bridge. I've stumble upon a web site which appears to be the perfect answer If it is possible to get all the legals completed via email that would be preferable. Do I need to be concerned? What are the potential pitfalls?
As usual with these online conveyancers you need to read ALL the small print - did you notice the extra charge for dealing with the mortgage?
Having checked my lease I have discovered that there are only Fifty years unexpired on my flat in Whaley Bridge. I now want to get lease extension but my landlord is absent. What are my options?
If you meet the appropriate requirements, under the Leasehold Reform, Housing and Urban Development Act 1993 you can submit an application to the County Court for an order to dispense with the service of the initial notice. This will enable the lease to be lengthened by the Court. However, you will be required to prove that you have done all that could be expected to find the freeholder. For most situations a specialist should be helpful to conduct investigations and to produce a report to be accepted by the court as proof that the freeholder is indeed missing. It is advisable to get professional help from a solicitor both on investigating the landlord’s absence and the vesting order request to the County Court overseeing Whaley Bridge.
I bought a 2 bed flat in Whaley Bridge, conveyancing was carried out April 1995. Can you shed any light on how much the price could be for a 90 year extension to my lease? Comparable flats in Whaley Bridge with over 90 years remaining are worth £265,000. The average or mid-range amount of ground rent is £50 levied per year. The lease comes to an end on 21st October 2100
With 75 years unexpired the likely cost is going to be between £8,600 and £9,800 as well as plus your own and the landlord's "reasonable" professional fees.
The figure that we have given is a general guide to costs for renewing a lease, but we are not able to provide the actual costs in the absence of detailed investigations. Do not use the figures in a Notice of Claim or as an informal offer. There are no doubt other concerns that need to be considered and clearly you want to be as accurate as possible in your negotiations. Neither should you move forward based on this information without first getting professional advice.