Unfortunately I am unable to travel far from Trowbridge. I would like to know the logic why all Trowbridge lawyers aren't included on all bank panels?
Lenders ordinarily impose restrictions on either the nature or the number of conveyancing solicitors on their approved list of lawyers. A common example of such criteria being that a organisation is required to have two or more partners. As well as restricting the structure of firm, some banks for instance HSBC decided to restrict the size of their panel they permit to act for them. It is worth noting that building societies have no responsibility for the accuracy of conveyancing provided by any Trowbridge conveyancer on their approved list. Increases in mortgage fraud was the key driver in the rationalisation of conveyancing panels in the last decade even though there are conflicting opinions concerning the extent of solicitor involvement in some of that fraud. Statistics via HM Land Registry reveal that thousands of law organisations only transact one or two conveyances a year. Those advocating conveyancing panel cuts question why law firms should have any entitlement to be listed on a conveyancing panel when it is apparent that property law is not their primary expertise?
We are looking to buy a flat and need a conveyancing solicitor in Trowbridge who is on the Virgin Money approved panel. Could you point me in the right direction as regards a solicitor?
Our service is limited to being a directory service for firms who wish to be listed as being on the approved conveyancing panel for Virgin Money . We don't recommend any particular firms conducting conveyancing in Trowbridge.
Can I be sure that the Trowbridge conveyancing solicitor on the Co-operative panel is any good?
When it comes to conveyancing in Trowbridge seeking recommendations is a good start. 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 advise that you speak with the solicitor carrying out your conveyancing.
I currently have a mortgage with Kent Reliance for my property in Trowbridge. Conveyancing was finalised months 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 Kent Reliance?
Your original mortgage agreement with Kent Reliance will provide that you need their approval in advance of renting your property as this is likely to be a breach of Kent Reliance’s mortgage conditions. It may be that Kent Reliance will allow you to rent 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 Kent Reliance directly. You need not do this via a Kent Reliance conveyancing panel solicitor.
After much negotiation I have agreed a price on an apartment in Trowbridge. My mortgage broker suggested a solicitor. I paid an on account payment of £175. A few days later, the lawyer contacted me to say that they were not on the Kent Reliance conveyancing panel. Am I right in thinking that I should be due a refund?
You should be able to recover this from the law firm if they were not on the Kent Reliance panel. They should have asked at the outset which lender you were obtaining a mortgage with. An important lesson to readers of this site is to check that the lawyers are on the appropriate lender panel.
The deeds to my property are lost. The lawyers who handled the conveyancing in Trowbridge 4 years ago no longer exist. Will I be able to sell the house?
As long as you have a registered title the information relating to your proprietorship will be recorded by the Land Registry with a Title Number. It is possible to perform a search at the Land Registry, locate your property and obtain current copies of the property title for a small fee. Where the title is Leasehold then the Land Registry will usually hold a file copy of the Registered Lease and again, a copy can be retrieved for twenty pounds.
Having checked my lease I have discovered that there are only Fifty years remaining on my lease in Trowbridge. I need to extend my lease but my landlord is can not be found. What options are available to me?
If you qualify, under the Leasehold Reform, Housing and Urban Development Act 1993 you can submit an application to the County Court for for permission to dispense with the service of the initial notice. This will enable the lease to be extended by the magistrate. You will be obliged to prove that you or your lawyers have made all reasonable attempts to find the freeholder. For most situations a specialist may be helpful to conduct investigations and to produce an expert document which can be used as proof that the landlord can not be located. It is advisable to get professional help from a solicitor in relation to devolving into the landlord’s absence and the application to the County Court overseeing Trowbridge.
I inherited a split level flat in Trowbridge, conveyancing formalities finalised 10 years ago. Can you work out an approximate cost of a lease extension? Comparable flats in Trowbridge with over 90 years remaining are worth £197,000. The average or mid-range amount of ground rent is £55 levied per year. The lease ends on 21st October 2079
With only 55 years unexpired we estimate the premium for your lease extension to be between £31,400 and £36,200 plus professional fees.
The figure that we have given is a general guide to costs for renewing a lease, but we are not able to supply the actual costs without more detailed due diligence. You should not use the figures in a Notice of Claim or as an informal offer. There are no doubt additional issues 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 seeking the advice of a professional.