I am 3 weeks into the sale of my ground floor flat in Lechlade and the EA has just text me to warn that the purchasers are swapping solicitor. The excuse is that the bank will only deal with solicitors on their approved list. Why would a big named lender only work with certain solicitors rather the firm that they want to appoint for their conveyancing in Lechlade ?
Banks have always had panels of law firms they are willing to work with, but in the past few years big names such as Yorkshire Building Society, have reviewed and reduced their conveyancing panel– in some cases removing conveyancing firms who have acted for them for decades.
Banks point to the increase in fraud by way of justification for the pruning – criteria have been tightened as a smaller panel is easier to keep an eye on. No lender will say how many solicitors have been dropped, claiming the information is commercially sensitive, but the Law Society says it is being contacted daily by practices that have been removed from panels. Plenty of firms do not even realise they have been dropped until contacted by a borrower who has instructed them as might be the situation in your buyers' case. Your purchasers are unlikely to have any impact on this.
Having spent time looking at mumsnet.com for a high-quality lawyer in Lechlade, most say that I must instruct a CQS kitemarked lawyer. Can you explain what CQS is?
Lechlade Conveyancing Quality Scheme law firms have been granted certification under the Law Society's Scheme (CQS) CQS was established to promote high standards in the in the legal transfer of properties. CQS enables consumers to recognise solicitor firms that provide a quality residential conveyancing. Lechlade is one of locations in England and Wales in which CQS have offices. The conveyancing scheme obliges solicitors to undergo a strict assessment, compulsory training, self-reporting, spot checks and yearly assessments in order to maintain CQS status. It is available to solicitors and not licensed conveyancers and has the support of the Council of Mortgage Lenders.
A friend recommended that where I am purchasing in Lechlade I should ask my conveyancer to perform a Neighbourhood, Planning and Local Amenity Search. What does it cover?
A search of this type is occasionally quoted for as part of the standard Lechlade conveyancing searches. It is not a small report of about 40 pages, listing and setting out significant information about Lechlade around the property and the people living there. It includes an Aerial Photograph, Planning Applications, Land Use, Mobile Phone Masts, Rights of Way, the local Housing Market, Council Tax Banding, the demographics of People living in the area, the dominant type of Housing, the Average Property Price, Crime statistics, Lechlade Education with maps and statistics, Local Amenities and other useful data concerning Lechlade.
The estate agent has sent us the confirmation of our purchase of a new build flat in Lechlade. Conveyancing is necessary evil at the best of times but I have never purchased a new build flat before. What sort of enquires would be asked in new build conveyancing.
Set out below are examples of a few leasehold new build questions that you can expect your new-build leasehold conveyancing in Lechlade
Please confirm the Lease plans are surveyor prepared. The Vendor must covenant to keep unsold units in good repair until long leases are granted therefore. Investor purchasers must be able to freely grant unsecured tenancies at market rents without requiring any consents. Where there is an Undertaking being granted there is the risk of forfeiture of the Headlease subject to relief if one or more of the Underlessees are willing to accept the original Head Lessee’s obligations as otherwise relief will be denied to the Underlessees. The only alternatives are the Head Lessor agreeing not to forfeit the Headlease or the Head Lessee guaranteeing to the Underlessees that it will not be in breach of the Headlease. Where service of notices and proceedings can be at the property demised please confirm that this can be amended to include simultaneous services at the Lessees’ solicitors’ offices where the Lessee from time to time is not resident in the UK - such solicitors may be varied by notice in writing to the Landlord from time to time but otherwise will be as previously specified.
I own a leasehold house in Lechlade. Conveyancing and TSB mortgage are in place. I have received a letter from someone claiming to own the reversionary interest in the property. Attached was a ground rent demand for rent dating back to 1993. The conveyancing practitioner in Lechlade who acted for me is not around. Do I pay?
The first thing you should do is make enquiries of the Land Registry to be sure that this person is indeed the registered owner of the freehold reversion. You do not need to instruct a Lechlade conveyancing firm to do this as it can be done on-line for £3. You should note that in any event, even if this is the legitimate landlord, under the Limitation Act 1980 no more than 6 years of rent can be collected.
I own a leasehold flat in Lechlade, conveyancing having been completed in 2001. Can you work out an approximate cost of a lease extension? Corresponding flats in Lechlade with a long lease are worth £195,000. The ground rent is £45 per annum. The lease runs out on 21st October 2082
You have 63 years unexpired the likely cost is going to range between £16,200 and £18,600 plus legals.
The figure that we have given is a general guide to costs for renewing a lease, but we cannot give you a more accurate figure without more comprehensive investigations. Do not use the figures in a Notice of Claim or as an informal offer. There are no doubt other issues that need to be considered and clearly you should be as accurate as possible in your negotiations. Neither should you move forward based on this information before seeking the advice of a professional.