I am nearing exchange of contracts for my flat in Amersham and the estate agent has just text me to advise that the buyers are switching law firm. The excuse is that the bank will only work with solicitors on their approved list. Why would a leading mortgage company only work with certain solicitors rather the firm that they want to select for their conveyancing in Amersham ?
UK lenders have always had panels of law firms that can represent them, but in the last few years big names such as Nationwide, have reviewed and reduced their conveyancing panel– in some cases removing conveyancing firms who have represented them for more than 25 years.
Lending institutions point to the increase in fraud by way of justification for the reduction – criteria have been tightened as a smaller panel is easier to maintain. No lender will say how many solicitors have been dropped, claiming the information is commercially sensitive, but the Law Society says it is being contacted daily by practices that have been removed from panels. Plenty of firms do not even realise they have been dropped until contacted by a borrower who has instructed them as might be the situation in your buyers' case. The purchasers are unlikely to have any impact on this.
There are plenty of conveyancing solicitors in Amersham but how do I know who I should use?
Do not opt for the cheapest Amersham conveyancing fees. You really do get what you’re paying for when it comes to property lawyers. A cheap quote may mean that the conveyancing solicitor is handling a lot of jobs at one time and you won’t get the quality of service and the attention that you need. It is, however, wise to use a conveyancer who has a fixed fee on a no sale, no fee basis. This way, you go into the conveyancing with your eyes wide open.
My wife and I purchasing a victorian detached house in Amersham. Our aim is to carry out an extension to the side at the property.Will legal work on the property include investigations to see if these alterations were previously refused?
Your property lawyer should review the registered title as conveyancing in Amersham will on occasion identify restrictions in the title deeds which restrict categories of works or necessitated the consent of another owner. Many works need local authority planning permissions and approval in accordance building regulations. Some areas are designated conservation areas and special planning restrictions apply which often prevent or impact extensions. You should check these things with a surveyor ahead of any purchase.
I have paid off my mortgage with Co-operative. I assume I don't need a Amersham property lawyer on the Co-operative panel to discharge the mortgage at the Land Registry. Am I right?
If you have finished paying off your Co-operative mortgage, they may send you evidence showing that you have paid it off. Alternatively they may notify the Land Registry directly. The Land Registry need to see this evidence before they will remove the Co-operative mortgage from the register. Co-operative, and any evidence they send you, will determine the action you need to take. In cases where no conveyancer is acting for you and you have paid off your mortgage:
- but are not moving to another property
- where Co-operative has sent the Land Registry the discharge electronically, and
- Co-operative has instructed the Land Registry to do so
Despite weeks of looking the Title Certificate and documents to our house can not be found. The lawyers who conducted the conveyancing in Amersham 5 years ago are no longer around. What do I do?
These day there are copies made of almost everything, and your solicitor will know precisely where to find all the suitable paperwork so you may buy or sell your house without a hitch. If duplicates can’t be found, your solicitor may be able to arrange cover in the form of insurance or indemnities protecting you against possible claims on your premises.
As co-executor for the estate of my aunt I am selling a house in Swansea but live in Amersham. My solicitor (approximately 200 miles from merequires that I sign a stat dec prior to completion. Can you recommend a conveyancing solicitor in Amersham who can attest this legal document for me?
Technically speaking you are not likely to be required to have the documents attested by a conveyancing solicitor. Ordinarily any notary public or qualified solicitor will do regardless of whether they are Amersham based
I work for a long established estate agency in Amersham where we have witnessed a few leasehold sales derailed as a result of short leases. I have been given contradictory information from local Amersham conveyancing firms. Could you clarify whether the seller of a flat can instigate the lease extension process for the purchaser on completion of the sale?
As long as the seller has owned the lease for at least 2 years it is possible, to serve a Section 42 notice to start the lease extension process and assign the benefit of the notice to the purchaser. This means that the buyer need not have to sit tight for 2 years to extend their lease. Both sets of lawyers will agree to form of assignment. The assignment needs to be completed before, or simultaneously with completion of the sale.
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 invested in buying a basement flat in Amersham, conveyancing was carried out in 1998. Can you let me have an estimated range of the fair premium for a lease extension? Equivalent properties in Amersham with an extended lease are worth £206,000. The ground rent is £45 invoiced annually. The lease finishes on 21st October 2085
With 66 years remaining on your lease we estimate the price of your lease extension to be between £12,400 and £14,200 as well as professional fees.
The suggested premium range above a general guide to costs for extending a lease, but we are not able to advice on the actual costs without more comprehensive investigations. 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 you obviously should be as accurate as possible in your negotiations. You should not take any other action placing reliance on this information before seeking the advice of a professional.