I am one month into the sale of my ground floor flat in Clifton Village and the estate agent has just text me to say that the buyers are changing their conveyancer. The excuse is that the mortgage company will only engage with solicitors on their approved list. Why would a big named mortgage company only work with specific law firms rather the firm that they want to select to handle their conveyancing in Clifton Village ?
Banks have always had an approved set of law firms they are content to work with, but in recent years big names such as Nationwide, have reviewed and reduced their conveyancing panel– in some cases removing conveyancing firms who have worked with them for many years.
Mortgage companies blame a rise in fraud as the reason for the cull – criteria have been stiffened as a smaller panel is easier to oversee. No lender will say how many solicitors have been dropped, claiming the information is commercially sensitive, but the Law Society claims that it is hearing daily from firms that have been removed from panels. Plenty of firms are unaware that they have been dropped until contacted by a borrower who has instructed them as might be the situation in your buyers' case. Your buyers are unlikely to have any impact on this.
I require quick conveyancing in Clifton Village as I am under an ultimatum to exchange contracts within 4 weeks. A home loan is not required. Can I avoid the conveyancing searches to save fees and time?
If.Given you are not obtaining a mortgage you have the choice not to do searches although no lawyer would recommend that you don't. With lots of history conveyancing in Clifton Village the following are examples of what can show up and therefore impact future saleability: Enforcement Notices, Outstanding Fees, Overdue Grants, Unadopted Roads,...
Have completed on a a semi-detached house in Clifton Village , What is the estimated time for the Land Registry to register the transfer to my name? My Clifton Village conveyancing solicitor has been painfully slow, so I want to check the post completion formalities are concluded.
As far as conveyancing in Clifton Village registration is no quicker or slower than the rest of England and Wales. Rather than based on location, timeframes can adjust subject to who lodges the application, whether it is in order and if the Land registry must send notices to any third parties. At present roughly 80% of such applications are fully addressed within 12 days but occasionally there can be extensive delays. Registration takes place once the buyer is living at the property therefore 'speed' is not usually an essential issue yet if there is a degree of urgency associated with the registration then you or your lawyers can contact the land registry and explain the circumstances.
Am I best advised to choose a Clifton Village conveyancing practitioner who is local to the property I am buying? I have an old university friend who can execute the legal formalities however they are based 300miles drive away.
The primary upside of using a high street Clifton Village conveyancing firm is that you can visit the firm to execute paperwork, deliver your identification documents and pester them if necessary. Having local Clifton Village know how is a plus. That being said it's more important to get someone that will do a good and efficient job. If you know people who used your friend and on the whole were impressed that should trump using an unfamiliar Clifton Village conveyancing lawyer solely due to them being based in the area.
Having had my offer accepted I require leasehold conveyancing in Clifton Village. Before diving in I would like to find out the number of years remaining on the lease.
Assuming the lease is recorded at the land registry - and most are in Clifton Village - then the leasehold title will always include the basic details of the lease, namely the date; the term; and the original parties. From a conveyancing perspective such details then enable any prospective buyer and lender to confirm that any lease they are looking at is the one relevant to that title. For any other purpose, such as confirming how long the term was granted for and calculating what is left, then the register should be sufficient on it's own.
I purchased a leasehold flat in Clifton Village, conveyancing having been completed 3 years ago. Can you give me give me an indication of the likely cost of a lease extension? Comparable flats in Clifton Village with over 90 years remaining are worth £180,000. The ground rent is £65 invoiced annually. The lease comes to an end on 21st October 2077
With only 58 years remaining on your lease the likely cost is going to range between £21,900 and £25,200 as well as legals.
The figure above a general guide to costs for extending a lease, but we are not able to advice on a more accurate figure in the absence of comprehensive investigations. You should not use the figures in tribunal or court proceedings. There may be additional issues that need to be taken into account and clearly you should be as accurate as possible in your negotiations. Neither should you take any other action placing reliance on this information without first getting professional advice.