My wife and I are planning to purchase a home in Ottery St Mary and have instructed a Ottery St Mary conveyancing firm. Within the past 48 hours our property lawyer has sent a preliminary report and documents to look through in anticipation of exchanging contracts shortly. Santander have this evening contacted us to advise us that there is now an issue as our Ottery St Mary solicitor is not on their approved list of lawyers. What do we do from here?
When purchasing a property with the benefit of a mortgage it is standard for the purchasers' lawyers to also act for the mortgage company. In order to act for a bank or building society a law firm has to be on that lender's conveyancing panel. An application has to be made by the law firm to the lender to become a member of the lender's panel and there are increasingly strict criteria which the firm has to satisfy and indeed some lenders now require their panel members to be part of the Law Society’s Conveyancing Quality Scheme. Your solicitor should contact your mortgage company and see if they can apply for membership of their conveyancing panel, but if that is not viable they will instruct their own solicitors to act. You don't have to instruct a firm on the lender’s conveyancing panel as you are at liberty to use your preferred Ottery St Mary lawyers, in which case it will likely add costs, and it may delay matters as you have another set of people involved.
We see that you have a post code search directory identifying law firms on the Principality conveyancing panel. Do firms pay you a referral fee if I instruct them for our own conveyancing in Ottery St Mary?
We are a listing service only for law firms wishing to communicate if they are on the Principality conveyancing panel or other lender panels. We do not charge referral fees to any conveyancer that you subsequently appoint for your conveyancing in Ottery St Mary.
I appreciate that there are debates on Chancel Insurance on online forums. Am I compelled to have this when purchasing a residence in Ottery St Mary? or Apparently there is a law dating back centuries that means some homeowners residing in a parish church boundary may be liable to pay for maintenance towards the chancel within the church. Is this suitable for conveyancing in Ottery St Mary?
Unless a previous purchase of the premises completed post 12 October 2013 you can assume that lawyers handling conveyancing in Ottery St Mary to remain encouraging a chancel search and or insurance against a claim.
I used Arc property Solicitors several years past for my conveyancing in Ottery St Mary. I now require my papers however cannot find the solicitor. What do I do?
Do contact the Solicitors Regulatory Authority (SRA) to help locate your conveyancing files. They can be contacted on please contact on 0870 606 2555. Alternatively, you should use their online form to make an enquiry. You will need to provide the SRA with as much information as possible to assist their search, including the name and address in Ottery St Mary of the conveyancing firm of solicitors you previously retained, the name of conveyancing solicitor with whom you had dealings, and the date on which you last had dealings with the firm.
I own a leasehold house in Ottery St Mary. Conveyancing and Barclays Direct mortgage organised. A letter has just been received from someone claiming to own the reversionary interest in the property. Attached was a demand for arrears of ground rent dating back to 1994. The conveyancing practitioner in Ottery St Mary who acted for me is not around. Do I pay?
First make enquiries of the Land Registry to make sure that the individual purporting to own the freehold is indeed the new freeholder. It is not necessary to incur the fees of a Ottery St Mary conveyancing practitioner to do this as you can do this on the Land Registry website for less than a fiver. You should note that in any event, even if this is the legitimate freeholder, under the Limitation Act 1980 the limitation period for recovery of ground rent is six years.
I bought a basement flat in Ottery St Mary, conveyancing having been completed July 2005. Can you let me have an estimated range of the fair premium for a lease extension? Comparable properties in Ottery St Mary with an extended lease are worth £222,000. The ground rent is £50 charged once a year. The lease ends on 21st October 2090
With just 71 years remaining on your lease we estimate the premium for your lease extension to range between £9,500 and £11,000 plus legals.
The figure that we have given is a general guide to costs for extending a lease, but we are not able to advice on the actual costs in the absence of detailed investigations. Do not use this information in tribunal or court proceedings. There may be other concerns that need to be considered and clearly you should be as accurate as possible in your negotiations. You should not move forward based on this information without first seeking the advice of a professional.