Unfortunately I am unable to travel far from Alnwick. I would like to know the understand why all Alnwick conveyancing practitioners are not on all bank panels?
Banks highlight the fact that solicitor-led fraud is considered to be responsible for millions of pounds of fraud annually.The removal of law firms from lender panels started with the rise in mortgage fraud, which prompted a thematic review by the Financial Services Authority in 2011. Its outcome included recommendations for mortgage companies to review their conveyancing panels, which triggered a major policy change in the sector. It resulted in lenders pruning a number of firms from their official list of approved solicitors .
As someone not used to conveyancing in Alnwick what is your top tip you can impart concerning the legal transfer of property in Alnwick
You may not hear this from too many lawyers but conveyancing in Alnwick and elsewhere in England and Wales is an adversarial experience. In other words, when it comes to conveyancing there is an abundance of room for confrontation between you and others involved in the transaction. E.g., the seller, selling agent and on occasion the lender. Selecting a law firm for your conveyancing in Alnwick is a critical decision as your conveyancer is your adviser, and is the SOLE person in the transaction whose interest is to protect your legal interests and to protect you.
We are witnessing a worrying ongoing adversarial element to conveyancing- someone has to be at fault for the process being so protracted. We recommend that you must always trust your conveyancer above all other players when it comes to the legal transfer of property.
My husband and I are purchasing a newly converted flat in Alnwick with a homeloan from Bank of Ireland.We would like to retain our Alnwick conveyancing practitioner but Bank of Ireland advised that she’s not listed on their "panel". It seems we have little choice but to instruct a Bank of Ireland panel firm or retain our preferred solicitor and pay for one of their panel ones to act for them. We feel as though this is unjust; is there anything we can do?
No, not really. The loan issued to you is subject to its terms and conditions, a common one being that solicitors must be on the Bank of Ireland conveyancing panel. in the past, most banks had large numbers of solicitors on their panels: a borrower could find one for themselves, as long as it was on the lender's panel. The lender would then simply instruct the borrower's lawyers to act for the lender, too. You can use your lender's panel lawyers or you could borrow from another lender which does not restrict your choice. Another option that might be available is for your lawyer to apply to be on the conveyancing panel for Bank of Ireland
The deeds to my property are lost. The conveyancers who handled the conveyancing in Alnwick 5 years ago are no longer around. What are my next steps?
As long as the title is registered the details of your proprietorship will be retained by the Land Registry under a Title Number. It is possible to perform a search at the Land Registry, identify your property and secure up to date copies of the property title for a small fee. If the property is Leasehold then the Land Registry will also normally retain a file duplicate of the Registered Lease and again, a copy can be retrieved for a small fee.
My wife and I purchased a leasehold flat in Alnwick. Conveyancing and Bank of Scotland mortgage went though with no issue. A letter has just been received from someone saying they have taken over the reversionary interest in the property. It included a demand for arrears of ground rent dating back to 1998. The conveyancing practitioner in Alnwick who previously acted has long since retired. What should I do?
The first thing you should do is contact the Land Registry to be sure that this person is in fact the registered owner of the freehold reversion. There is no need to instruct a Alnwick conveyancing practitioner to do this as it can be done on-line for £3. Rest assured that in any event, even if this is the legitimate freeholder, under the Limitation Act 1980 no more than 6 years of rent can be collected.
I acquired a basement flat in Alnwick, conveyancing having been completed in 1996. Can you work out an approximate cost of a lease extension? Comparable properties in Alnwick with over 90 years remaining are worth £260,000. The average or mid-range amount of ground rent is £45 charged once a year. The lease ends on 21st October 2099
With only 74 years unexpired we estimate the price of your lease extension to span between £8,600 and £9,800 as well as professional fees.
The suggested premium range above a general guide to costs for renewing a lease, but we cannot give you the actual costs in the absence of detailed due diligence. You should not use this information in a Notice of Claim or as an informal offer. There are no doubt other concerns that need to be taken into account and clearly you want to be as accurate as possible in your negotiations. Please do not take any other action placing reliance on this information without first seeking the advice of a professional.