Am I correct in assuming that the fact that my solicitor in Romiley is not on my bank's solicitor panel that there is a problem with the standard of the firm’s conveyancing?
That would most likely be an incorrect assumption to make. There are plenty of plausible explanations. Just recently a report by the solicitors regulator revealed 76% of law firms surveyed had been removed from at least one lender panel. The most common reasons for removal are: (1) low volume of transactions (2) the solicitor is a sole practitioner (3) as part of the HSBC panel reduction (4) regulatory contact by SRA (5) accidental removal. Should you be concerned you should contact the Romiley conveyancing practice and ask them why they are no longer on the approved list for your mortgage company.
Should my conveyancer be asking questions regarding flooding as part of the conveyancing in Romiley.
Flooding is a growing risk for conveyancers dealing with homes in Romiley. There are those who acquire a property in Romiley, completely expectant that at some time, it may suffer from flooding. However, leaving to one side the physical damage, if a property is at risk of flooding, it may be difficult to obtain a mortgage, suitable building insurance, or dispose of the property. There are steps that can be taken during the course of a house purchase to forewarn the purchaser.
Lawyers are not qualified to give advice on flood risk, but there are a number of checks that can be initiated by the purchaser or by their conveyancers which can give them a better appreciation of the risks in Romiley. The standard information sent to a purchaser’s lawyer (where the Conveyancing Protocol is adopted) incorporates a standard inquiry of the owner to find out if the property has ever been flooded. If flooding has previously occurred which is not notified by the owner, then a buyer could bring a legal claim for losses stemming from an misleading reply. The purchaser’s lawyers should also commission an enviro report. This will reveal whether there is a recorded flood risk. If so, additional inquiries should be made.
I've recently found out that there is a flying freehold issue on a property I put an offer in two weeks back in what should have been a straight forward, no chain conveyancing. Romiley is the location of the property. Is there any advice you can impart?
Flying freeholds in Romiley are rare but are more likely to exist in relation to terraced houses. Even though you don't necessarily need a conveyancing solicitor in Romiley you must be sure that your lawyer goes through the deeds diligently. Your lender may require your conveyancing solicitor to take out an indemnity policy. Some of the more diligent conveyancing solicitors in Romiley may decide that this is not enough and that the deeds be re-written to give you the most up to date legal protection. If so, the next door neighbour also had to sign up to the revised deeds.It is possible that your lender will not accept the situation so the sooner you find out the better. You should also check with your insurance broker as to whether they will insure a flying freehold residence.
Having had my offer accepted I require leasehold conveyancing in Romiley. Before diving in I want to be sure as to the remaining lease term.
If the lease is recorded at the land registry - and almost all are in Romiley - then the leasehold title will always include the basic details of the lease, namely the date; the term; and the original parties. From a conveyancing perspective such details then enable any prospective buyer and lender to confirm that any lease they are looking at is the one relevant to that title. For any other purpose, such as confirming how long the term was granted for and calculating what is left, then the register should be sufficient on it's own.
I purchased a ground floor flat in Romiley, conveyancing having been completed September 1995. Can you give me give me an indication of the likely cost of a lease extension? Similar flats in Romiley with a long lease are worth £186,000. The ground rent is £55 per annum. The lease terminates on 21st October 2076
With only 52 years unexpired the likely cost is going to be between £29,500 and £34,000 as well as plus your own and the landlord's "reasonable" professional fees.
The suggested premium range that we have given is a general guide to costs for extending a lease, but we cannot give you the actual costs in the absence of comprehensive due diligence. Do not use this information in tribunal or court proceedings. There may be additional concerns that need to be taken into account and clearly you should be as accurate as possible in your negotiations. Neither should you move forward based on this information without first getting professional advice.
What tools are available to find a Romiley conveyancing solicitor on the lender conveyancing panel? I have a car and am prepared to travel up to twentykilometers to meet the solicitor.
Feel free to make use of the find a conveyancing panel search on this page. Please choose the lender and your location, in this case Romiley and you will see a number of lawyer located nearest Romiley. Alternatively you can type in the name of your proposed law firm and see if they are listed as being on the mortgage company solicitor panel.