Is the fact that my solicitor in Boldon is not on my bank's conveyancing panel that there is a problem with the quality of the firm’s work?
It would not be wise to jump to that conclusion. There are all sorts of perfectly plausible explanations. Just recently a report by the solicitors regulator indicated 76% of law firms surveyed had been removed from at least one lender panel. The top 5 reasons are as follows: (1) low volume of transactions (2) the lawyer is a sole practitioner (3) as part of the HSBC panel reduction (4) regulatory contact by SRA (5) accidental removal. Should you be concerned you should simply call the Boldon conveyancing practice and ask them why they are no longer on the approved list for your mortgage company.
Can your site be used to locate a Conveyancing solicitor in Boldon even if I’m not buying or disposing of a house, for instance where I wish to buy an office in Boldon with a mortgage from TSB?
Our search tool is mainly used to locate domestic conveyancing solicitors in Boldon but we have recorded at the bottom of this page a selection of Boldon commercial conveyancing firms. You will need to speak with the firm directly to see if they can also act for TSB
When reading online forums for a high-quality solicitor in Boldon, many say that I must look for a CQS assured solicitor. Can you explain what CQS is?
The Law Society's Conveyancing Quality Scheme is the recognised quality mark for legal experts in home ownership transfers, trusted by some of the UK's biggest banks. In 2011-12 the Conveyancing Quality Scheme was officially recognised by the Building Societies Association (BSA). The scheme does not cover licenced conveyancers. Boldon is one of the numerous areas of the UK where there are Accredited lawyers.
Is it simple use the search facility to locate a conveyancing lawyer in Boldon on the approved list for my lender?
Step one is to pick a mortgage company such as Halifax, Barnsley Building Society or Aldermore then specify your location a common one being Boldon. Conveyancing practices in Boldon and beyond will then be shown.
I am employed by a busy estate agency in Boldon where we see a few leasehold sales put at risk as a result of leases having less than 80 years remaining. I have been given inconsistent advice from local Boldon conveyancing firms. Can you shed some light as to 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 start the lease extension process and assign the benefit of the notice to the purchaser. The benefit of this is that the buyer can avoid having to wait 2 years for a lease extension. Both sets of lawyers will agree to form of assignment. The assignment has to be done prior to, or at the same time as completion of the disposal of the property.
Alternatively, it may be possible 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 buyer.
I purchased a 2 bed flat in Boldon, conveyancing formalities finalised half a dozen years ago. Can you please calculate a probable premium for a statutory lease extension? Corresponding properties in Boldon with a long lease are worth £191,000. The average or mid-range amount of ground rent is £55 levied per year. The lease terminates on 21st October 2074
You have 54 years remaining on your lease we estimate the premium for your lease extension to be between £32,300 and £37,400 as well as legals.
The figure that we have given is a general guide to costs for renewing a lease, but we cannot give you the actual costs without more detailed due diligence. Do not use the figures in tribunal or court proceedings. There may be other issues that need to be considered and clearly you should be as accurate as possible in your negotiations. You should not move forward based on this information without first getting professional advice.