I have just been advised by my financial adviser that my East Dean solicitor is not on the bank Solicitor panel. What can I do to be certain if this is indeed the case?
The best course of action for you to take is to call your East Dean conveyancer. It is reasonable to expect your lawyer to notify you what has happened. If they are not on the panel they could put your in touch with solicitors on the conveyancing panel for your mortgage company.
At what point does exchange of contracts occur in residential conveyancing in East Dean and am I required to be at the lawyers office?
If you are round the corner to our conveyancing solicitors in East Dean you are invited in to sign documents. That being said, the law practices we work with offer a nationwide conveyancing service and provide as equally detailed and professional a job for you when dealing with you electronically. The executing of the purchase agreement is not the important part. A signed contract is necessary for the firm to address the formalities when the time is right, which will usually be very shortly after signing. The procedure is is usually a five minute process, although where an extended "chain" is in play, since the process requires the relevant party's solicitor (not necessarily a conveyancing solicitor in East Dean)to be in the office available at the end of the phone to exchange contracts.
Can you help - my lawyer advises that breach of easement insurance is necessary on my purchase. What is the typical level of cover needed for conveyancing in East Dean?
The right level of breach of easement indemnity insurance should be dictated by who your lender. It would differ for example between HSBC Bank and Coventry Building Society. Conveyancing practitioners as opposed to borrowers take out such policies.
We have a mortgage agreed in principle with Nationwide. East Dean conveyancing practitioners are instructed. How long does it take for Nationwide to issue the offer to the lawyer?
There is no definitive answer here. Have Nationwide done the survey? Have you advised Nationwide as to your lawyers' details and checked that your lawyers are on the Nationwide conveyancing panel? It is not unusual for a mortgage offer to take a month to come through.
I have paid off my mortgage with UBS. I assume I don't need a East Dean lawyer on the UBS panel to discharge the mortgage at the Land Registry. Am I right?
If you have finished paying off your UBS 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 UBS mortgage from the register. UBS, 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 UBS has sent the Land Registry the discharge electronically, and
- UBS has instructed the Land Registry to do so
I today plan to offer on a house that appears to meet my requirements, at a reasonable figure which is making it all the more appealing. I have just been informed that the title is leasehold rather than freehold. I am assuming that there are particular concerns buying a house with a leasehold title in East Dean. Conveyancing lawyers have not yet been instructed. Will my lawyers set out the risks of buying a leasehold house in East Dean ?
The majority of houses in East Dean are freehold rather than leasehold. This is one of the situations where having a local solicitor who is familiar with the area who can help the conveyancing process. It is clear that you are buying in East Dean so you should seriously consider shopping around for a East Dean conveyancing practitioner and be sure that they have experience in dealing with leasehold houses. As a matter of priority you will need to check the unexpired lease term. Being a lessee you will not be at liberty to do whatever you want to the property. The lease comes with conditions such as requiring the freeholder’spermission to conduct alterations. It may be necessary to pay a maintenance charge towards the maintenance of the communal areas where the house is part of an estate. Your lawyer will appraise you on the various issues.
I acquired a basement flat in East Dean, conveyancing formalities finalised 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 East Dean with an extended lease are worth £222,000. The average or mid-range amount of ground rent is £50 yearly. The lease ceases on 21st October 2090
With 70 years unexpired we estimate the price of your lease extension to range between £9,500 and £11,000 as well as plus your own and the landlord's "reasonable" professional fees.
The suggested premium range that we have given is a general guide to costs for renewing a lease, but we are not able to provide a more accurate figure without more detailed investigations. Do not use this information in tribunal or court proceedings. There may be other issues that need to be taken into account and clearly you should be as accurate as possible in your negotiations. You should not take any other action placing reliance on this information without first seeking the advice of a professional.
I am buying a property and require a conveyancing solicitor in East Dean who is on the bank solicitor panel. Could you point me in the right direction as regards a firm?
Our service is limited to being a directory service for firms who wish to listed as being on the approved conveyancing panel for the mortgage company who carry out conveyancing in East Dean. We dont recommend any particular solicitor.