My husband and I are planning to buy a property in Belbroughton and have instructed a Belbroughton conveyancing firm. Within the past 48 hours our conveyancer has sent a preliminary report and documents to look through in anticipation of exchanging contracts shortly. Barclays have this evening contacted us to advise us that there is now an issue as our Belbroughton lawyer is not on their conveyancing panel. What do we do from here?
If you are buying a property requiring a mortgage it is standard for the purchasers' lawyers to also represent the mortgage company. In order to act for a bank or building society a law firm has to be on that lender's conveyancing panel. An application has to be made by the law firm to the lender to become a member of the lender's panel and there are increasingly strict criteria which the firm has to satisfy and indeed some lenders now require their panel members to be part of the Law Society’s Conveyancing Quality Scheme. Your property lawyer should contact your lender and see if they can apply for membership of their conveyancing panel, but if that is not viable they will instruct their own solicitors to act. You don't have to instruct a firm on the lender’s conveyancing panel as you are at liberty to use your preferred Belbroughton lawyers, in which case it will likely add costs, and it will likely delay the transaction as you are adding another lawyer into the mix.
My aunt advised me that in buying a property in Belbroughton there may be a number of restrictions affecting the ability to carry out external changes to the property. Is this right?
We are aware of anumerous of properties in Belbroughton which have some sort of restriction or requirement of consent to perform external variations. Part of the conveyancing in Belbroughton should determine what restrictions are applicable and advising you as part of a ROT that should be sent to you.
We previously instructed conveyancers based in Belbroughton on the UBS solicitor approved list. They have just invoiced me a supplemental fee for dealing with the UBS mortgage. Is this a supplemental conveyancing fee set by UBS?
Unfortunately, as long as it is in their Terms and Conditions or estimate then yes your solicitor can charge a fee for this. This fee is not dictated by UBS but by your Belbroughton lawyer. Some firms on the UBS panel will charge ’dealing with mortgage’ fee and others do not.
I have finally had an offer on a flat in Belbroughton agreed to, the vendors do however have a dependent purchase. The vendors have offered on somewhere, but it’s not been accepted yet, and have viewings of other flats in the pipeline. I have chosen a high street conveyancing solicitor in Belbroughton. What do I do now? When do I get the mortgage application with Virgin Money going?
It is usual to have apprehensions where there is a chain as you are unlikely to want to be too out of pocket too early (mortgage application is in the region of £1k, then valuation, Belbroughton conveyancing search costs, etc). First, you must ensure that your conveyancing practitioner is on the Virgin Money approved list. Regarding the subsequent phase this very much depends on the circumstances of your transaction, attraction to this property and on the state of the market. During a hot market some buyers would apply for the mortgage with Virgin Money and pay for the valuation and only if it comes back ok would they request their solicitor to press on with the conveyancing in Belbroughton.
I've recently found out that there is a flying freehold issue on a property I have offered on last month in what was supposed to be a simple, no chain conveyancing. Belbroughton is the location of the property. Is there any advice you can impart?
Flying freeholds in Belbroughton are not the norm but are more likely to exist in relation to terraced houses. Even though you don't necessarily need a conveyancing solicitor in Belbroughton you must be sure that your lawyer goes through the deeds diligently. Your mortgage company may require your conveyancing solicitor to take out an indemnity policy. Some of the more diligent conveyancing solicitors in Belbroughton may decide that this is not enough and that the deeds be re-written to give you the most up to date legal protection. If so, the next door neighbour also had to sign up to the revised deeds.It is possible that your lender will not accept the situation so the sooner you find out the better. You should also check with your insurance broker as to whether they will insure a flying freehold residence.
My husband and I are a couple of weeks into a residential purchase having been directed to conveyancers by the estate agent to perform conveyancing in Belbroughton. I am not happy. Can you you assist me in finding new solicitors?
A lawyer would need to be very bad to suggest diss instructing them. Has the mortgage offer been generated? In the event that it has you must advise them of the replacement conveyancer and get the offer are issued to the new lawyers. Your new conveyancer should be on the lenders approved list to avoid escalating charges and frustration. So that should be your starting point. Our search tool should help you find a bank approved solicitor for your home move in Belbroughton
I’m about to sell my garden apartment in Belbroughton. Conveyancing has not commenced, but I have just had a yearly service charge demand – should I leave it to the buyer to sort out?
It best that you clear the service charge as usual as all rents and service payments should be allotted on completion, so you should recover the relevant percentage by the buyer for the period running from after the completion date to the subsequent invoice date. Most management companies will not acknowledge the buyer until the service charges have been paid and are up to date, so it is important for both buyer and seller for the seller to show that they are up to date. Having a clear account will assist your cause and will leave you no worse off financially.
I am the registered owner of a garden flat in Belbroughton, conveyancing was carried out half a dozen years ago. Can you shed any light on how much the price could be for a 90 year extension to my lease? Corresponding properties in Belbroughton with an extended lease are worth £197,000. The average or mid-range amount of ground rent is £55 levied per year. The lease ends on 21st October 2073
You have 55 years unexpired the likely cost is going to range between £31,400 and £36,200 as well as professional fees.
The figure that we have given is a general guide to costs for renewing a lease, but we are not able to provide the actual costs without more detailed due diligence. Do not use the figures in a Notice of Claim or as an informal offer. There may be additional issues that need to be taken into account and you obviously want to 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.