Much to our surprise we have been advised by our IFA that my Hall Green property lawyer is not on the bank Conveyancing panel. How can I be certain if this is indeed the case?
The best course of action for you to take is to contact your Hall Green conveyancer. You lawyer should notify you what has happened. If they are not on the panel they may be able to suggest a Hall Green conveyancing practice that is on the approved list of lawyers for your mortgage company.
Should lawyers request an advanced payment for conveyancing in Hall Green?
If you are buying a property in Hall Green your lawyer will ask you put them with monies to cover the the cost of the conveyancing searches. This will be the total of the cost of the Local Authority Search. If any deposit is payable against the total price then this should be required shortly ahead of exchange of contracts. The closing balance that is due should be sent to your lawyer a couple of days ahead of the day of completion.
When looking at mumsnet.com for a recommended solicitor in Hall Green, most post that I must instruct a CQS kitemarked solicitor. What is CQS?
The Law Society's Conveyancing Quality Scheme is the recognised kitemark for legal experts in the legal transfer of properties, trusted by some of the UK's biggest banks. In 2011-12 the Conveyancing Quality Scheme was officially recognised by the Legal Ombudsman. The scheme does not cover licenced conveyancers. Hall Green is one of the many areas of the UK where there are CQS solicitors.
Due to the input of my in-laws I had a survey completed on a house in Hall Green in advance of appointing lawyers. I have been told that there is a flying freehold overhang to the property. The surveyor advised that some mortgage companies tend refuse to give a mortgage on this type of property.
It varies from the lender to lender. HSBC has different requirements from Nationwide. If you e-mail us we can check with the appropriate lender. If you lender is happy to lend one our lawyers can assist as they are accustomed to dealing with flying freeholds in Hall Green. Conveyancing can be more complicated and therefore you should check with your conveyancing solicitor in Hall Green to see if the conveyancing costs will increase in light of this.
What advice can you give us when it comes to finding a Hall Green conveyancing firm to carry out our lease extension conveyancing?
If you are instructing a solicitor for lease extension works (regardless if they are a Hall Green conveyancing practice) it is essential that he or she should be familiar with the legislation and specialises in this area of conveyancing. We recommend that you make enquires with several firms including non Hall Green conveyancing practices before you instructing a firm. Where the conveyancing practice is ALEP accredited then so much the better. The following questions might be useful:
How familiar is the practice with lease extension legislation?
I inherited a 1 bedroom flat in Hall Green, conveyancing was carried out April 2004. How much will my lease extension cost? Corresponding flats in Hall Green with over 90 years remaining are worth £176,000. The ground rent is £50 invoiced annually. The lease expires on 21st October 2098
You have 80 years unexpired we estimate the price of your lease extension to be between £7,600 and £8,800 as well as professional fees.
The figure that we have given is a general guide to costs for extending a lease, but we are not able to provide the actual costs in the absence of detailed due diligence. Do not use this information in a Notice of Claim or as an informal offer. There may be additional issues that need to be taken into account and you obviously want to be as accurate as possible in your negotiations. You should not take any other action placing reliance on this information before seeking the advice of a professional.