Much to our surprise we have been told by our estate agent that my Audlem lawyer is not on the mortgage company Conveyancing panel. How can I be certain whether this is indeed the case?
The first thing you need to do is to call your Audlem lawyer directly. You lawyer should advise you what has happened. If they are not on the panel they may be able to suggest a Audlem conveyancing firm that is on the approved list of lawyers for your lender.
The Audlem conveyancing firm that I appointed last week on my house acquisition in Audlem have without warning closed. They were on acting for me because I had to have a firm on the UBS conveyancing panel and my preferred Audlem lawyer was not. I gave my credit card details for them to take one hundred and fifty pounds for searches. What should be my next steps?
Assuming that you have an Estate Agent in the equation then let them know straight away so that they advise the vendors that there may be a slight delay due to the problems encountered. Most sellers would be sympathetic and urge their lawyer to send a new set of papers to your new solicitors. You will need to appoint new lawyers that are on the UBS conveyancing panel and notify the lender. If you have paid over any money, it will hopefully be held by the SRA as money in an intervened firm's bank accounts is transferred to the SRA. Then, the SRA or the intervention agent looks at the intervened firm's accounts to work out who the money belongs to. To claim your money you will need to contact the SRA. If the SRA cannot return money you are owed from the firm's bank accounts, or if they can only return part of the money, you can apply to the Compensation Fund for a grant. Your new solicitors should be in a position to assist.
Forgive me if this question is silly but I am unseasoned as a first time buyer of a garden flat in Audlem. Do I collect the keys to the house on the completion date from my conveyancer? If this is the case, I will appoint a local conveyancing solicitor in Audlem?
There is no need to visit the lawyers office on the day of completion. Your solicitors will arrange to send the completion advance to the seller's conveyancers, and shortly after the monies have arrived, you should be invited to collect the keys from the Estate Agents and start moving into the property. Usually this happens early afternoon.
I am aiming to move home in March. Will my conveyancing solicitor communicate with the removal company on the completion day. On a separate note, can you recommend a removal company in Audlem. Conveyancing solicitor was found before I stumbled across this page.
On the day of completion you will need to pick up the keys from the property agent however this should only be done once the vendors solicitors confirm to the agent that they acknowledge receipt of the completion payment and the keys can be released. You will need to inform the removal company that you are ready to move in. We do not recommend a particular removal organisation but can help you locate a conveyancing in Audlem or a firm that specialises in conveyancing in Audlem.
is it true that all Audlem conveyancing solicitors on the HSBC conveyancing panel are regulated by the SRA?
As a firm of solicitors, in order to be on the HSBC conveyancing panel they would need to be regulated by the Solicitors Regulatory Authority. Many lenders do permit licenced conveyancers on their panel in which case such organisation would be overseen by the Council of Licensed Conveyancers.
Should I choose a Audlem conveyancing practitioner based in the area that I am hoping to buy? We have a good friend who can carry out the legal work however her office is over three hundred miles away.
The benefit of a high street Audlem conveyancing practice is that you can visit the firm to sign documents, hand in your ID and apply pressure on them where appropriate. They will also have local knowledge which is a bonus. However nothing is more important than finding someone that will do a good and efficient job. If other friends have instructed your friend and on the whole were impressed that must trump using an unknown Audlem conveyancing solicitor solely due to them being based in the area.
I work for a long established estate agent office in Audlem where we have witnessed a few leasehold sales put at risk as a result of short leases. I have been given conflicting advice from local Audlem conveyancing firms. Please can you clarify whether the owner of a flat can commence the lease extension formalities for the purchaser on completion of the sale?
As long as the seller has been the owner for at least 2 years it is possible, to serve a Section 42 notice to commence the lease extension process and assign the benefit of the notice to the purchaser. This means that the proposed purchaser need not have to wait 2 years to extend their lease. Both sets of lawyers will agree to form of assignment. The assignment has to be done before, or simultaneously with completion of the disposal of the property.
An alternative approach is to extend the lease informally by agreement with the landlord 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 bought a split level flat in Audlem, conveyancing formalities finalised half a dozen years ago. Can you please calculate a probable premium for a statutory lease extension? Corresponding properties in Audlem with an extended lease are worth £222,000. The ground rent is £50 invoiced every year. The lease terminates on 21st October 2090
With just 71 years left to run we estimate the price of your lease extension to span between £9,500 and £11,000 as well as legals.
The suggested premium range above a general guide to costs for renewing a lease, but we cannot give you a more accurate figure in the absence of comprehensive due diligence. You should not use the figures in tribunal or court proceedings. There are no doubt other issues that need to be considered and clearly you want to be as accurate as possible in your negotiations. Neither should you move forward based on this information without first seeking the advice of a professional.