Am I correct in assuming that the fact that my conveyancer in East Riding Villages is not identified on my mortgage company's conveyancing panel that there is a problem with the quality of his work?
That would most likely be a wrong assumption to make. There are all sorts of perfectly plausible explanations. A recent report by the solicitors regulator indicated that over three quarters of law firms surveyed had been removed from at least one lender panel. The top 5 reasons are as follows: (1) lack of transactions (2) the solicitor is a sole practitioner (3) as part of the HSBC panel reduction (4) regulatory contact by SRA (5) accidental removal. If you are concerned you should simply call the East Riding Villages conveyancing practice and enquire why they are no longer on the approved list for your mortgage company.
It has been four months since my purchase conveyancing in East Riding Villages concluded. I have checked the Land Registry website which shows that I paid £150,000 when infact I paid £180,000. Why the discrepancy?
The price paid figure is taken from the application to register the purchase. It is the figure included in the Transfer (the legal deed which transfers the residence from one person to the other) and referred to as the 'consideration' or purchase price. You can report an error in the price paid figure using the LR online form. In most cases errors result from typos so at first glance the figure. Do report it so they can double check and advise.
Due to the guidance of my in-laws I had a survey completed on a house in East Riding Villages prior to appointing lawyers. I have been informed that there is a flying freehold aspect to the property. The surveyor advised that some lenders may refuse to give a mortgage on such a premises.
It varies from the lender to lender. Santander has different requirements from Nationwide. If you call us we can investigate further with the relevant bank. If you lender is happy to lend one our lawyers can help as they are used to dealing with flying freeholds in East Riding Villages. Conveyancing will be smoother if you use a solicitor in East Riding Villages especially if they are accustomed to such properties in East Riding Villages.
I need to appoint a conveyancing solicitor for remortgage conveyancing in East Riding Villages. I happened to stumble upon a web site which appears to be the ideal solution If there is a chance to get all the legals completed via phone that would be preferable. Should I be concerned? What are the potential pitfalls?
As usual with these online conveyancers you need to read ALL the small print - did you notice the extra charge for dealing with the mortgage?
Can you provide any advice for leasehold conveyancing in East Riding Villages from the point of view of saving time on the sale process?
- A significant proportion of the delay in leasehold conveyancing in East Riding Villages can be reduced if you instruct lawyers the minute you market your property and request that they start to collate the leasehold information needed by the purchasers’ conveyancers. Some East Riding Villages leases require Licence to Assign from the landlord. If this applies to your lease, you should place the estate agents on notice to make sure that the purchasers obtain bank and professional references. Any bank reference will need to confirm that the buyers are financially capable of paying the yearly service charge and the actual amount of the service charge should be quoted in the bank’s letter. You will therefore need to provide your estate agents with the service charge figures so that they can pass this information on to the purchasers or their lawyers. If you have the benefit of shareholding in the Management Company, you should make sure that you have the original share certificate. Arranging a re-issued share certificate can be a lengthy formality and delays many a East Riding Villages conveyancing transaction. If a duplicate share is required, do contact the company officers or managing agents (if applicable) for this sooner rather than later. You may think that you are aware of the number of years left on your lease but it would be wise to verify this by asking your conveyancers. A buyer’s lawyer will not be happy to advise their client to to exchange contracts if the remaining number of years is below 75 years. It is therefore essential at an early stage that you consider whether the lease term requires a lease extension. If it does, contact your solicitors before you put your property on the market for sale. In the event that you altered the property did you need the Landlord’s approval? In particular have you installed wooden flooring? East Riding Villages leases often stipulate that internal structural alterations or addition of wooden flooring require a licence issued by the Landlord acquiescing to such works. Where you fail to have the consents to hand do not contact the landlord without checking with your solicitor in advance.
East Riding Villages Conveyancing for Leasehold Flats - Examples of Questions you should ask Prior to Purchasing
The prefered form of lease arrangement is where the freehold reversion is owned by the leaseholders. In this scenario the leaseholders enjoy control and even though a managing agent is often retained if it is larger than a house conversion, the managing agent is directed by the tenants. How much is the yearly maintenance fee and ground rent?