It has come to my attention via my lender that my Adderbury lawyer is not on the mortgage company Solicitor panel. What can I do to be sure whether this is correct?
The first thing you need to do is to call your Adderbury lawyer directly. You lawyer should notify you what has happened. If they are not on the panel they could put your in touch with solicitors on the conveyancing panel for your lender.
We are buying a flat and require a conveyancing solicitor in Adderbury who is on the Nottingham solicitor panel. Could you point me in the right direction as regards a conveyancing firm?
Our service is limited to being a directory service for firms who wish to be listed as being on the approved conveyancing panel for Nottingham . We don't recommend any particular firms conducting conveyancing in Adderbury.
What happens if my lawyer’s firm is expelled from the Bank of Ireland Conveyancing panel ahead of completing my conveyancing in Adderbury?
First, 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 for a fee.
Can I be sure that the Adderbury conveyancing solicitor on the Kent Reliance panel is any good?
When it comes to conveyancing in Adderbury getting 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 which is cheap as chips. We would always advocate that you speak with the solicitor handling your transaction.
My husband and I are at the point of viewing apartments in Adderbury and I am now considering a potential offer. Is it sensible to have a conveyancer on ‘stand by’? I intend to finance via a mortgage with Lloyds.
It would be prudent to instigate your search sooner rather than later. After you have chosen your lawyer and once your offer is accepted you can instruct them to work for you and pass their details on to the selling agent. Given that you are taking out a mortgage with Lloyds, ask your prospective lawyers if they are on the Lloyds conveyancing panel otherwise they can't do the mortgage legal work.
UBS have agreed my mortgage in principle, my offer on a flat in Adderbury has been accepted, now what?
The estate agent will wish to know who your solicitors are (make sure the solicitors are on the bank’s panel). Telephone UBS or the financial adviser and complete any appropriate paperwork. UBS will instruct a valuer who will get in contact with the selling agent or vendor to schedule a time for the valuation to take place. Once conducted (assuming no problems) it takes on average ten days to receive the mortgage offer. UBS will send the offer to you and your conveyancers. The transaction will then take it’s course according the nature and complexity of the conveyancing in Adderbury.
Last July I purchased a leasehold property in Adderbury. Am I liable to pay service charges for periods before completion of my purchase?
In a situation where the service charge has already been demanded from the previous lessee and they have not paid you would not usually be personally liable for the arrears. Strange as it may seem, your landlord may still be able to take action to forfeit the lease. A critical element of leasehold conveyancing for your conveyancer to ensure to have an up to date clear service charge receipt before completion of your purchase. If you have a mortgage this is likely to be a requirement of your lender.
If you purchase part way through an accounting year you may be liable for charges not yet demanded even if they relate to a period prior to your purchase. In such circumstances your conveyancer would normally arrange for the seller to set aside some money to cover their part of the period (usually called a service charge retention).
I acquired a 1 bedroom flat in Adderbury, conveyancing was carried out March 2001. Can you let me have an estimated range of the fair premium for a lease extension? Comparable properties in Adderbury with an extended lease are worth £265,000. The ground rent is £50 per annum. The lease ends on 21st October 2101
You have 76 years unexpired the likely cost is going to span between £8,600 and £9,800 plus professional fees.
The figure 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 detailed due diligence. You should not use this information in tribunal or court proceedings. There may be other concerns that need to be taken into account and you obviously want to be as accurate as possible in your negotiations. Please do not take any other action based on this information before getting professional advice.