Am I correct in assuming that the fact that my solicitor in Henley On Thames is not identified on my mortgage company's conveyancing panel that there is a problem with the standard of his work?
It would not be wise to jump to that conclusion. 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 most common reasons for removal are: (1) lack of transactions (2) the lawyer 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 Henley On Thames conveyancing practice and enquire why they are no longer on the approved list for your lender.
Is it correct that all Henley On Thames CQS (Conveyancing Quality Scheme) solicitors are on the RBS conveyancing list of approved practices?
A selection of lenders now utilise CQS as the starting point for Panel membership such as HSBC and Santander. The Law Society’s CQS accreditation however gives no guarantee to lender panel acceptance. That being said,the CML have indicated that it is likely to become a pre-requisite for firms wishing to remain on their approved list of conveyancing solicitors.
I have decided to exercise my right to buy my property in Henley On Thames off the council. I have a mortgage offer with Bank of Ireland. Conveyancing is new to me. Can I proceed without a solicitor easily? I think we can but we keep being told I should have one. Any advice?
It is not advisable to proceed with a house purchase without a solicitor. The council's solicitor are not acting for you. You need a solicitor for a number reasons. One of which is to verify what plans the Council have for repairs and refurbishment for the next five years. Many leaseholders have been stung for contributions of thousands of pounds. In any event, if you are getting a mortgage with Bank of Ireland, you will need to appoint a solicitor on the Bank of Ireland conveyancing panel.
I recently had an offer accepted on a house in Henley On Thames. My mortgage broker pressured me to appoint their conveyancer. I paid an upfront payment of £175. Shortly after, the solicitor called me embarrassingly acknowledging that they were not on the Principality conveyancing panel. Am I right in thinking that I should be due a refund?
You should be able to recover this from the law firm if they were not on the Principality panel. They should have asked at the outset which lender you were obtaining a mortgage with. An important lesson to readers of this site is to check that the lawyers are on the appropriate lender panel.
I've recently found out that there is a flying freehold element on a property I put an offer in last month in what should have been a straight forward, chain free conveyancing. Henley On Thames is the location of the property. What do you suggest?
Flying freeholds in Henley On Thames are not the norm but are more likely to exist in relation to terraced houses. Even where you use a solicitor outside Henley On Thames you must be sure that your lawyer goes through the deeds thoroughly. Your mortgage company may require your conveyancing solicitor to take out an indemnity policy. Some of the more diligent conveyancing solicitors in Henley On Thames may determine that this is not enough and that the deeds be re-written to give you the most up to date legal protection. If so, the next door neighbour also had to sign up to the revised deeds.It is possible that your lender will not accept the situation so the sooner you find out the better. You should also check with your insurance broker as to whether they will insure a flying freehold property.
Should I use a Henley On Thames conveyancing lawyer based in the area that I am buying? An old friend can deal with the conveyancing however her office is 200miles away.
The primary upside of using a local Henley On Thames conveyancing firm is that you can pop in to sign paperwork, deliver your ID and pester them if necessary. Having local Henley On Thames know how is a bonus. However it's more important to get someone that will do a good and efficient job. If you know people who instructed your friend and the majority were content that should surpass using an unfamiliar Henley On Thames conveyancing lawyer just because they are Henley On Thames based.
Last December I purchased a leasehold flat in Henley On Thames. Do I have any liability for service charges for periods before my ownership?
Where the service charge has already been demanded from the previous lessee and they have not paid you would not usually be personally liable for the arrears. However, your landlord may still be able to take action to forfeit the lease. It is an essential part of leasehold conveyancing for your conveyancer to be sure to have an up to date clear service charge receipt before completion of your purchase. If you have a mortgage this is likely to be a requirement of your lender.
If you purchase part way through an accounting year you may be liable for charges not yet demanded even if they relate to a period prior to your purchase. In such circumstances your conveyancer would normally arrange for the seller to set aside some money to cover their part of the period (usually called a service charge retention).
I inherited a basement flat in Henley On Thames, conveyancing having been completed 7 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? Corresponding flats in Henley On Thames with over 90 years remaining are worth £222,000. The ground rent is £50 levied per year. The lease expires on 21st October 2090
You have 71 years unexpired the likely cost is going to span between £9,500 and £11,000 plus professional fees.
The figure that we have given is a general guide to costs for extending a lease, but we are not able to supply the actual costs without more comprehensive due diligence. Do not use the figures in a Notice of Claim or as an informal offer. There are no doubt additional concerns that need to be considered and you obviously want to be as accurate as possible in your negotiations. You should not take any other action based on this information before seeking the advice of a professional.