My fiance and I are planning to acquire a property in Exminster and are in fact using a Exminster conveyancing firm. Within the past 48 hours our conveyancer has sent a preliminary report and documents to look through with a view to exchanging next week. Santander have this afternoon contacted us to inform me that they have now hit a problem as our Exminster solicitor is not on their approved list of lawyers. What do we do from here?
Where you are buying a property with the assistance of a mortgage it is conventional for the purchasers' lawyers to also act for the purchaser's lender. 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 lawyers to represent them. You don't have to instruct a firm on the bank's conveyancing panel as you are at liberty to use your preferred Exminster lawyers, in which case your legal fees may increase, and it will likely delay the transaction as you are adding another lawyer into the mix.
I have given 2 months notice to my current landlord and have to be out of my rented flat in Exminster by 9/12/2020. Conveyancing for my house purchase is underway. Can I complete in three weeks as don't want to have to move into short term accommodation?
The normal practice is not to give notice for your tenancy unless your lawyer suggests that you should. If you have not already done so, speak to your lawyer and request that they cajole the other solicitors, try to get a realistic time scale from them that all parties will aim towards
What is the first thing I need to know regarding purchase conveyancing in Exminster?
You may not hear this from too many lawyers but conveyancing in Exminster or throughout England and Wales is an adversarial experience. In other words, when it comes to conveyancing there exists plenty of opportunity for friction between you and other parties involved in the transaction. E.g., the seller, estate agent and sometimes the lender. Choosing a lawyer for your conveyancing in Exminster is a critical decision as your conveyancer is your adviser, and is the ONLY person in the transaction whose interest is to protect your best interests and to keep you safe.
We are witnessing a distinct ongoing adversarial element to conveyancing- someone has to be at fault for the process being so protracted. We recommend that you your first instinct should be to trust your conveyancer ahead of all other players in the home moving process.
There are only 68 years left on my flat in Exminster. I am keen to get lease extension but my freeholder is missing. What options are available to me?
If you qualify, under the Leasehold Reform, Housing and Urban Development Act 1993 you can submit an application to the County Court for an order to dispense with the service of the initial notice. This will enable the lease to be lengthened by the magistrate. However, you will be required to prove that you have used your best endeavours to track down the freeholder. In some cases an enquiry agent may be helpful to conduct investigations and prepare a report to be accepted by the court as evidence that the freeholder can not be located. It is advisable to get professional help from a property lawyer both on investigating the landlord’s absence and the vesting order request to the County Court covering Exminster.
I purchased a 1 bedroom flat in Exminster, conveyancing was carried out 5 years ago. Can you let me have an estimate of the premium that my landlord can legally expect in return for granting a renewal of my lease? Comparable flats in Exminster with over 90 years remaining are worth £192,000. The average or mid-range amount of ground rent is £55 invoiced every year. The lease finishes on 21st October 2074
With just 54 years left to run we estimate the premium for your lease extension to range between £32,300 and £37,400 plus legals.
The suggested premium range above a general guide to costs for renewing a lease, but we cannot give you the actual costs without more comprehensive investigations. You should not use this information in tribunal or court proceedings. There are no doubt other concerns that need to be taken into account and you obviously should be as accurate as possible in your negotiations. You should not take any other action based on this information without first seeking the advice of a professional.
I am thinking of choosing a web based conveyancer as opposed to a Exminster conveyancing practice. Am I making a mistake?
Advantages do exist in being able to pop in to a local Exminster conveyancing solicitor for example
- signing papers and and when necessary
- sometimes being able to speak to someone face-to-face can make a significant difference, particularly for non-standard house moves
- the ability to raise concerns if things need to addressed
When analysing fees, look carefully for hidden extras. The majority decent Exminster high street solicitors give an all-inclusive price. Many online agents appear to offer discounted prices, but have burried 'extras' in the fine print.