How up to date is your database of Norfolk solicitors on the HSBC conveyancing panel? Do HSBC send you an updated list?
Norfolk conveyancing firms themselves provide us confirmation that they are on the HSBC conveyancing panel as opposed to being supplied with a list from HSBC directly.
We are purchasing a newly converted apartment in Norfolk with a residential mortgage from National Westminster Bank.We have a Norfolk conveyancing practitioner but National Westminster Bank informed us his firm is not listed on their approved list of member firms. we are left little option but to use a National Westminster Bank panel lawyer or keep our high street solicitor and fork out for a National Westminster Bank panel lawyer to represent them. This seems very unfair; Can we not simply insist that National Westminster Bank use our lawyer?
Unfortunately,no. The home loan issued to you contains terms and conditions, one of which will be that solicitors must be on the National Westminster Bank solicitor panel. in the past, most banks had large numbers of law firms on their panels: a borrower could find one for themselves, as long as it was on the lender's panel. The lender would then simply instruct the borrower's lawyers to act for the lender, too. You can use your lender's panel lawyers or you could borrow from another lender which does not restrict your choice. A further alternative is for your lawyer to apply to be on the conveyancing panel for National Westminster Bank
My partner and I are close to exchanging contracts on the sale of our property in Norfolk and according to the buyers it appears that there is a possibility that the property was built on contaminated land. Any high street Norfolk lawyer would know that there is no such problem. It does beg the question why the buyers used an online conveyancing outfit rather than a conveyancing solicitor in Norfolk. We have lived in Norfolk for three years we know of no issue. Should we get in touch with our local Authority to get confirmation that there is no issue.
It sounds as though you may have a conveyancing firm already. What do they say? You need to check with your lawyer before you do anything. It is very possible that once the local authority has been informed of a potential issue it cannot be insured against (a bit like being diagnosed with a serious illness and then taking out health insurance to cover that same ailment)
Is it best to instruct a Norfolk conveyancing solicitor who is local to the property I am buying? I have an old university friend who can deal with the legal formalities however her office is approximately 350miles drive away.
The benefit of a high street Norfolk conveyancing practice is that you can drop in to sign paperwork, hand in your ID and pester them if necessary. They will also have local insight which is a benefit. That being said nothing is more important than finding someone that will pull out all the stops for you. If you know people who used your friend and in the main were impressed that must trump using an unknown Norfolk conveyancing solicitor just because they are Norfolk based.
Can you provide any advice for leasehold conveyancing in Norfolk from the perspective of expediting the sale process?
- Much of the delay in leasehold conveyancing in Norfolk can be reduced if you instruct lawyers the minute your agents start marketing the property and request that they start to put together the leasehold documentation which will be required by the purchasers’ conveyancers. In the event that you altered the property did you need the Landlord’s approval? In particular have you laid down wooden flooring? Norfolk leases often stipulate that internal structural changes or addition of wooden flooring calls for a licence issued by the Landlord acquiescing to such alterations. Where you dont have the consents in place you should not contact the landlord without contacting your conveyancer before hand. If there is a history of any disputes with your freeholder or managing agents it is very important that these are resolved prior to the flat being marketed. The buyers and their solicitors will be concerned about purchasing a property where there is an ongoing dispute. You may need to swallow your pride and discharge any arrears of service charge or settle the dispute prior to completion of the sale. It is therefore preferable to have any dispute settled ahead of the contract papers being issued to the buyers’ solicitors. You are still duty bound to disclose particulars of the dispute to the purchasers, but it is better to reveal the dispute as historic rather than ongoing. You may think that you are aware of the number of years left on your lease but it would be wise to double-check via your conveyancers. A buyer’s conveyancer will not be happy to advise their client to to exchange contracts if the remaining number of years is less than 80 years. In the circumstances it is important at an as soon as possible that you identify whether the lease term requires a lease extension. If it does, contact your solicitors before you put your property on the market for sale. Some Norfolk leases require Landlord’s consent to the sale and approval of the buyers. If this is the case, it would be prudent to notify your estate agents to make sure that the purchasers put in hand financial (bank) and professional references. The bank reference will need to confirm that the buyers are financially capable of paying the yearly service charge and the actual amount of the service charge should be quoted in the bank’s letter. You will therefore need to provide your estate agents with the service charge figures so that they can pass this information on to the purchasers or their lawyers.
I purchased a 1 bedroom flat in Norfolk, conveyancing was carried out 9 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 Norfolk with over 90 years remaining are worth £255,000. The ground rent is £45 charged once a year. The lease expires on 21st October 2094
With 73 years left to run we estimate the premium for your lease extension to span between £8,600 and £9,800 plus professional fees.
The suggested premium range above a general guide to costs for extending a lease, but we cannot give you the actual costs without more detailed investigations. Do not use this information in a Notice of Claim or as an informal offer. There may be additional concerns that need to be taken into account and clearly you should be as accurate as possible in your negotiations. Please do not move forward placing reliance on this information before seeking the advice of a professional.