Is the fact that my conveyancer in Great Missenden is not listed on my bank's conveyancing panel that there is a problem with the quality of his work?
It would not be wise to jump to that conclusion. There are plenty of reasonable explanations. A recent report by the solicitors regulator revealed 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 solicitor 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 contact the Great Missenden conveyancing practice and ask them why they are no longer on the approved list for your mortgage company.
The owners of the home we are purchasing are using a conveyancing firm in Great Missenden who has recommended a preliminary contract with a deposit 10k. Is it wise to enter into such agreements?
Lock out agreements are contracts between a home owner and purchaser granting the buyer a ‘clear field’ to the sale of the property within a prescribed time frame. For all intents and purposes, a lock out agreement is a contract specifying that you should receive a contract at a later date which is the contract for the actual sale. It tends to be used for buyer protection though in some cases, the vendor may stand to benefit from such agreements as well. There are various positives and negatives to using them but you need to check with your conveyancer but note that it may end up incurring extra in conveyancing fees. For these reasons these contracts are rare when it comes to conveyancing in Great Missenden.
We note that you have a post code search directory identifying firms on the Leeds Building Society conveyancing panel. Do companies pay you a commission if I instruct them for our own conveyancing in Great Missenden?
We are a listing service only for law firms wishing to communicate if they are on the Leeds Building Society conveyancing panel or other lender panels. We do not charge referral fees to any conveyancer that you subsequently appoint for your conveyancing in Great Missenden.
Will our conveyancer be making enquiries concerning flooding during the conveyancing in Great Missenden.
Flooding is a growing risk for conveyancers dealing with homes in Great Missenden. There are those who purchase a house in Great Missenden, fully aware that at some time, it may be flooded. However, aside from the physical damage, if a house is at risk of flooding, it may be difficult to get a mortgage, suitable insurance cover, or sell the premises. There are steps that can be taken during the course of a house purchase to forewarn the purchaser.
Solicitors are not qualified to offer advice on flood risk, but there are a number of checks that may be initiated by the buyer or on a buyer’s behalf which will figure out the risks in Great Missenden. The conventional set of information supplied to a buyer’s lawyer (where the Conveyancing Protocol is adopted) contains a usual inquiry of the owner to discover if the premises has suffered from flooding. In the event that flooding has previously occurred which is not notified by the seller, then a purchaser could bring a claim for damages stemming from an incorrect reply. A purchaser’s lawyers should also carry out an enviro search. This will disclose whether there is any known flood risk. If so, more detailed inquiries should be carried out.
My fiance and I may need to let out our Great Missenden garden flat temporarily due to taking a sabbatical. We instructed a Great Missenden conveyancing practice in 2002 but they have closed and we did not have the foresight to get any guidance as to whether the lease permits subletting. How do we find out?
A small minority of properties in Great Missenden do contain a provision to say that subletting is only allowed with permission. The landlord cannot unreasonably withhold but, in such cases, they would need to see references. Experience suggests that problems are usually caused by unsatisfactory tenants rather than owner-occupiers and for that reason you can expect the freeholder to take up the references and consider them carefully before granting consent.
I am the registered owner of a leasehold flat in Great Missenden, conveyancing formalities finalised in 2002. Can you shed any light on how much the price could be for a 90 year extension to my lease? Equivalent flats in Great Missenden with an extended lease are worth £201,000. The average or mid-range amount of ground rent is £45 charged once a year. The lease ends on 21st October 2083
With only 64 years unexpired we estimate the price of your lease extension to range between £14,300 and £16,400 plus professional fees.
The suggested premium range that we have given is a general guide to costs for extending a lease, but we are not able to provide the actual costs without more comprehensive due diligence. You should not use the figures in tribunal or court proceedings. There may be other issues that need to be considered and clearly you want to be as accurate as possible in your negotiations. Please do not take any other action placing reliance on this information before getting professional advice.