Can you clarify what the consequences are if my solicitor is expelled from the Nationwide Solicitor panel ahead of completing my conveyancing in Whitchurch?
The first thing to point out is that, this is very unlikely to happen. In most cases even where a law firm is removed off of a panel the lender would allow the completion to go ahead as the lender would appreciate the difficulties that they would place you in if you have to instruct a new solicitor days before completion. In a worst case scenario where the lender insists that you instruct a new firm then it is possible for a very good lawyer to expedite the conveyancing albeit that you may pay a significant premium for this. The analogous situation is where a buyer instructs a lawyer, exchanges contracts and the law firm is shut down by a regulator such as the SRA. Again, in this situation you can find lawyers who can troubleshoot their way to bring the conveyancing to a satisfactory conclusion - albeit at a cost.
Can you help - my lawyer says that lack of building regulations insurance is needed on my purchase. What is the level of cover for Whitchurch conveyancing?
The right level of lack of building regulations indemnity insurance depends on your lender. It would differ for example between Santander and Leeds Building Society. Conveyancing practitioners as opposed to members of the public take out such policies.
We have agreed to purchase a house in Whitchurch. An unusual aspect is that the roof has a solar panel. Nottingham have issued a mortgage offer so presumably this is not a concern to them. Why is my solicitor raising questions about the panel?
As your lender is Nottingham your lawyer must comply with the formal instructions outlined in Section 2 of UK Finance Lenders’ Handbook for Nottingham. The CML Handbook contains minimum specifications for solar panel roof-space leases, and lawyers are required to report to Nottingham where a lease does not comply with these specifications. The requirements relate to the installation of panels on properties in England and Wales and is not limited to Whitchurch.
The formalities of my remortgage has taken place for my property in Whitchurch. Conveyancing was a necessary evil but I feel I should register my dissatisfaction about the lender. How do I make a complaint?
Almost all lenders have complaints procedures. Your first point of contact should be one of the lender’s branches or the Customer Care Department at head office. We understand that complaints to a lender are sorted out effectively and efficiently. If you feel the matter is not resolved you can write to Financial Ombudsman Service, South Quay Plaza, 183 Marsh Wall, London E14 9SR with full details of your complaint.
Taking into account that I will soon spend £400,000 on a house in Whitchurch I wish to talk to a lawyer concerning theconveyancing prior to giving the go ahead to the firm. Is this something that you can arrange?
Absolutely - it is our preference to talk to you we do not take any clients on without you speaking to the solicitor who will be conducting your property ownership legalities in Whitchurch.There is no ‘factory style conveyancing’ - every client is unique person, not a file number. The practices that we put you in touch with believe that the fees you are quoted for your conveyancing in Whitchurch should be the amount on the final invoice that you are charged.
I am a couple of weeks into a leasehold purchase having been directed to solicitors by the selling agent to handle our conveyancing in Whitchurch. We are not happy. Could you you assist me in finding new conveyancers?
They would need to be very bad to suggest diss instructing them. Has your mortgage been generated? In the event that it has you will need to inform them of the new contact details and have the mortgage documents are issued to the new lawyers. Your new conveyancer should be on the lenders approved list to avoid supplemental fees and complications. So that should be your starting point. Our find a solicitor tool will help you find a lender approved lawyer for your home move in Whitchurch
I work for a long established estate agency in Whitchurch where we see a number of flat sales jeopardised as a result of leases having less than 80 years remaining. I have received conflicting advice from local Whitchurch conveyancing firms. Could you confirm whether the owner of a flat can commence the lease extension process for the purchaser on completion of the sale?
Provided that the seller has been the owner 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 buyer can avoid having to wait 2 years for a lease extension. Both sets of lawyers will agree to form of assignment. The assignment has to be done 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 bought a garden flat in Whitchurch, conveyancing formalities finalised in 1998. Can you let me have an estimated range of the fair premium for a lease extension? Corresponding properties in Whitchurch with over 90 years remaining are worth £195,000. The average or mid-range amount of ground rent is £45 per annum. The lease ceases on 21st October 2088
You have 63 years left to run we estimate the price of your lease extension to be between £16,200 and £18,600 as well as costs.
The suggested premium range that we have given is a general guide to costs for extending 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 other issues that need to be taken into account and clearly you want to be as accurate as possible in your negotiations. You should not move forward based on this information without first getting professional advice.
My son is embarking on her first house purchase, the home loan was agreed last week in principle. When the offer was accepted on flat we called the mortgage institution to issue the formal offer. We were shocked to hear that mortgage companies do not accept all conveyancer, they have to be on a list, is this right?
Mortgage Companies ordinarily imposes restrictions either the type or the number of conveyancing firms on their approved list of lawyers. A common example of such restriction(s) being that a firm must have two or more partners. In addition to restricting the type of firm, some have decided to limit the number of firms they use to represent them. You should note that lenders have no responsibility for the quality of advice provided by any Whitchurch conveyancer on their panel. Mortgage fraud was a key driver in the rationalisation of conveyancing panels a few years ago and whilst there are differing views about the extent of solicitor involvement in some of that fraud. Statistics from the Land Registry reveal that thousands of law firms only carry out one or two conveyances a year. Those supporting conveyancing panel cuts ask why law firms should have the right to be on a Lender panel when clearly, conveyancing is not their speciality. To put it another way; would you want a conveyancing solicitor to represent you if you were charged with a crime? Unlikely.