is it true that all Old Town conveyancing solicitors on the Coventry BS conveyancing panel are governed by the Solicitors Regulatory Authority?
As a firm of solicitors, in order to be on the Coventry BS approved list of solicitors they would need to be governed by the Solicitors Regulatory Authority. Many banks do permit licenced conveyancers on their panel and in that case the practice would be overseen by the Council of Licensed Conveyancers.
Having digested plenty of mortgage guides, I note that it is considered advisable to get your house surveyed prior to buying it. When I asked my local Old Town solicitor - who is on the Lloyds conveyancing panel - on this she said they don't do this and I need to contract an independent surveyor. is that correct?
Lloyds will need an independent valuation of the property. Your lawyer will not arrange this. Usually Lloyds will appoint their own surveyor to do this, and you will have to pay for it. Remember that this is a valuation for mortgage purposes and not a survey. Your lawyer will not organise the survey but they may be able to put you in touch with a local one that they recommend. RICS offers a find a surveyor service (just google it) where you can search for a qualified surveyor by your Old Town postcode. As you are getting a mortgage with Lloyds, you could contact them to see if they have a list of approved surveyors in Old Town.
My offer on a detached house in Old Town has been accepted, the sellers do however have a connected purchase. The sellers have offered on somewhere, however it’s not been accepted yet, and have viewings of other apartments booked. I have chosen a high street conveyancing solicitor in Old Town. What do I do now? At what point should I apply for the mortgage with Yorkshire BS?
It is understandable to have anxieties where there is a chain as you are unlikely to want to incur expenses prematurely (mortgage application is in the region of one thousand pounds, then survey, Old Town conveyancing search costs, etc). First, you must ensure that your conveyancing practitioner is on the Yorkshire BS conveyancing panel. As to the subsequent steps this very much dictated by the specifics of your transaction, attraction to the property and on the state of the market. During a rising market the majority of buyers would apply for a home loan with Yorkshire BS and pay for the valuation and only if it comes back ok would they request their solicitor to press on with searches.
2 months have elapsed since my purchase conveyancing in Old Town concluded. I have checked the Land Registry site which shows that I paid £200,000 when infact I paid £170,000. Why the discrepancy?
The price paid figure is taken from the application to register the purchase. It is the figure included in the Transfer (the legal deed which transfers the asset from one person to the other) and referred to as the 'consideration' or purchase price. You can report an error in the price paid figure using the LR online form. In most cases errors result from typos so at first glance the figure. Do report it so they can double check and advise.
The estate agent has sent us the confirmation of our purchase of a new build flat in Old Town. 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 is a sample of a few leasehold new build questions that you can expect your new-build leasehold conveyancing in Old Town
Please confirm the Lease plans are architect prepared. Please supply evidence that the form of Lease proposed has been approved by the Land Registry. Will control of the Management Company (if any) be handed over to purchasers on completion of the last sale or earlier? The Landlord must covenant to assume the management if the Management Company goes into liquidation or otherwise defaults in running the management scheme. The Vendor must covenant to keep unsold units in good repair until long leases are granted therefore.
As co-executor for the estate of my aunt I am selling a property in Swansea but live in Old Town. My lawyer (who is 260 miles awayhas requested that I execute a stat dec ahead of the transaction finalising. Can you recommend a conveyancing practitioner in Old Town to witness and place their company stamp on the document?
Technically speaking you are not likely to need to have the documents witnessed by a conveyancing solicitor. Normally any notary public or solicitor will suffice regardless of whether they are Old Town based
We expect to complete the sale of our £450,000 maisonette in Old Town next Tuesday. The management company has quoted £324 for Certificate of Compliance, building insurance schedule and previous years statements of service charge. Is the landlord entitled to charge an administration fee for a leasehold conveyance in Old Town?
For most leasehold sales in Old Town conveyancing will involve, questions about the management of a building inevitably needing to be answered directly by the freeholder or its agent, this includes :
Addressing pre-contract questions
Where consent is required before sale in Old Town
Supplying insurance information
Deeds of covenant upon sale
Registering of the assignment of the change of lessee after a sale
I am the registered owner of a 1st floor flat in Old Town, conveyancing having been completed half a dozen years ago. Can you work out an approximate cost of a lease extension? Corresponding flats in Old Town with a long lease are worth £171,000. The average or mid-range amount of ground rent is £50 per annum. The lease finishes on 21st October 2098
You have 79 years left to run we estimate the price of your lease extension to span between £8,600 and £9,800 as well as costs.
The figure above a general guide to costs for extending a lease, but we cannot give you the actual costs without more detailed investigations. You should not use the figures in a Notice of Claim or as an informal offer. There are no doubt other issues that need to be taken into account and you obviously want to be as accurate as possible in your negotiations. You should not move forward placing reliance on this information without first getting professional advice.