Unfortunately I am unable to travel far from Montpelier. Can you please clarify why all Montpelier conveyancers aren't automatically on all lender panels?
Before the recession most mortgage companies had an approach to risk which differs from the current day. The Financial Services Authority in 2010 conducted a thematic review into fraud which in summary warned lenders: know the lawyers on your panel. As a result, mortgage companies have subsequently soughtmore data from law firms concerning their processes and the individuals employed by them and set certain criteria such as completing a minimum amount of transactions. Hundreds of firms have been removed from lender panels even though they had 100% healthy track record, no complaints and no claims and didn't just 'dabble' in conveyancing. Such firms found it impossible satisfy the minimum amount of transactions the mortgage companies required.
Do the Building Society Association intend to launch a online directory to to identify solicitors on the Coventry BS conveyancing panel for instance in Montpelier?
We have not been informed any intention on the part of the BSA to promote such a search facility.
Should commercial conveyancing searches reveal planned roadworks that could affect a commercial estate in Montpelier?
Many commercial conveyancing solicitors in Montpelier will carry out a SiteSolutions Highways report as it dramatically cuts the time that conveyancers spend in researching accurate data on highways that impact buildings and development assets in Montpelier. The search result sets out definitive data on the adoption status of roads, footpaths and verges, as well as the implication of traffic schemes and the rights of way surrounding a commercial development sites in Montpelier.
For every commercial conveyancing transaction in Montpelier it is crucial to investigate the adoption status of roads surrounding a site. Failure to identify developments where adoption procedures have not been dealt with adequately may cause delays to Montpelier commercial conveyancing deals as well as present a risk to future intentions for the site. These searches are not ordered for domestic conveyancing in Montpelier.
Due to the encouragement of my in-laws I had a survey completed on a house in Montpelier in advance of instructing solicitors. I have been informed that there is a flying freehold aspect to the house. My surveyor advised that some banks will not grant a loan on a flying freehold house.
It varies from the lender to lender. Santander has different instructions from Halifax. If you e-mail us we can investigate further via the relevant mortgage company. If you lender is happy to lend one our lawyers can help as they are used to dealing with flying freeholds in Montpelier. Conveyancing can be more complicated and therefore you should check with your conveyancing solicitor in Montpelier to see if the conveyancing costs will increase in light of this.
I own a leasehold flat in Montpelier. Conveyancing and Clydesdale mortgage are in place. A letter has just been received from someone claiming to own the reversionary interest in the property. It included a demand for arrears of ground rent dating back to 1996. The conveyancing solicitor in Montpelier who previously acted has now retired. Do I pay?
First contact the Land Registry to be sure that the individual claiming to own the freehold is in fact the registered owner of the freehold reversion. It is not necessary to incur the fees of a Montpelier conveyancing firm to do this as it can be done on-line for a few pound. Rest assured 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 invested in buying a split level flat in Montpelier, conveyancing formalities finalised half a dozen years ago. How much will my lease extension cost? Corresponding properties in Montpelier with over 90 years remaining are worth £191,000. The average or mid-range amount of ground rent is £55 invoiced annually. The lease ceases on 21st October 2071
With just 53 years remaining on your lease the likely cost is going to range between £27,600 and £31,800 plus costs.
The figure that we have given is a general guide to costs for extending a lease, but we cannot give you the actual costs in the absence of detailed investigations. You should not use this information in a Notice of Claim or as an informal offer. There may be other issues that need to be taken into account and you obviously want to be as accurate as possible in your negotiations. Neither should you move forward based on this information without first getting professional advice.