I can't travel far from Nottinghamshire. Please spell out why all Nottinghamshire lawyers aren't automatically on all mortgage company panels?
Lenders normally restrict either the type or volume of conveyancing firms on their approved list of lawyers. A common example of such restriction(s) being that a organisation is required to have at least two partners. In addition to restricting the type of firm, some building societies made a decision to limit the number of conveyancers they use to represent them. It is worth noting that building societies have no accountability for the standard of conveyancing provided by any Nottinghamshire conveyancing practitioner on their panel. Mortgage fraud was the key driver in the reduction of solicitor panels from 2008 notwithstanding that there are conflicting thoughts about the extent of solicitor involvement in some of that fraud. Data published by HM Land Registry reveal that thousands of law practices only carry out one or two conveyances a year. Those supporting conveyancing panel culls question why law firms should have any entitlement to be on a conveyancing panel when clearly conveyancing is not their speciality?
I have given 2 months notice to my current landlord and must vacate my rented apartment in Nottinghamshire by the end of next month. Conveyancing for my house purchase is progressing. Can I complete in three weeks as I wish to avoid having to find short term accommodation?
Generally one should not provide notice for your letting until your lawyer suggests that you should. Assuming that you have not already done so, speak to your lawyer and urge them to they apply pressure on the owners lawyers, try to an agreed time frame that everyone will aim to achieve
My friend advised me that if I am buying in Nottinghamshire I should carry out a Neighbourhood, Planning and Local Amenity Search. What does it cover?
This is a search is usually included in the estimate for your Nottinghamshire conveyancing searches. It is a large document of about 40 pages, listing and setting out significant information about Nottinghamshire around the property and the people living there. It includes an Aerial Photograph, Planning Applications, Land Use, Mobile Phone Masts, Rights of Way, the Nottinghamshire Housing Market, Council Tax Banding, the type of People living in the area, the dominant type of Housing, the Average House Prices, Crime details, Nottinghamshire Education with maps and statistics, Local Amenities and other useful information about Nottinghamshire.
I'm remortgaging my existing house to a BTL mortgage with Britannia and I will use the rest of the raised equity towards further house. The neighborhood we are talking about is Nottinghamshire. Will your solicitors be able to act for the two banks and link together the transactions?
Make use of our comparison tool on this site to ensure that the solicitors are approved by both banks. Assuming that they are your solicitor should be able to tie up the two conveyancing matters but you should talk with you conveyancer and communicate your desired outcome and requirements.
When it comes to leasehold conveyancing in Nottinghamshire what are the most frequent lease defects?
Leasehold conveyancing in Nottinghamshire is not unique. All leases are unique and legal mistakes in the legal wording can result in certain provisions are erroneous. The following missing provisions could result in a defective lease:
A provision to repair to or maintain elements of the premises
A defective lease can cause problems when trying to sell a property as they can affect a potential buyer’s ability to obtain a mortgage. Santander, The Royal Bank of Scotland, and Platform Home Loans Ltd all have very detailed conveyancing instructions when it comes to what is expected in a lease. Where a lender has been advised by their lawyers that the lease is problematic they may refuse to provide security, obliging the buyer to pull out.
I purchased a 1 bedroom flat in Nottinghamshire, conveyancing formalities finalised in 1995. Can you give me give me an indication of the likely cost of a lease extension? Comparable properties in Nottinghamshire with a long lease are worth £171,000. The average or mid-range amount of ground rent is £50 per annum. The lease ends on 21st October 2097
With only 79 years remaining on your lease we estimate the premium for your lease extension to be between £8,600 and £9,800 as well as professional fees.
The suggested premium range above a general guide to costs for extending a lease, but we are not able to provide a more accurate figure in the absence of comprehensive investigations. Do not use the figures 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 should be as accurate as possible in your negotiations. Neither should you take any other action based on this information without first getting professional advice.