Is it the case that all Padstow conveyancing solicitors on the Yorkshire BS conveyancing panel are governed by the Solicitors Regulatory Authority?
As solicitors, in order to be on the Yorkshire BS conveyancing panel they would need to be governed by the SRA. The majority of lenders do list licenced conveyancers on their panel in which case such organisation would be overseen by the Council of Licensed Conveyancers.
The mortgage over my property is with Coventry BS for my property in Padstow. Conveyancing was finalised a year ago. In the event that I decide to rent out the flat and do not currently have a buy-to-let mortgage do I need to remortgage to a BTL mortgage or inform Coventry BS?
Your original mortgage agreement with Coventry BS will provide that you need their approval in advance of letting out your property as this is likely to be a breach of Coventry BS’s mortgage conditions. In many cases banks or building societies will allow you to rent out your former home without needing to switch to a buy-to-let mortgage but some lenders will add a surcharge to your mortgage rate to reflect the higher risk. You should contact Coventry BS directly. You need not do this via a Coventry BS conveyancing panel firm.
I am selling my flat. I had a double glazing fitted in January 2008, but did not receive a FENSA certificate or Building Regulation Certificate. My purchaser’s lender, Lloyds are being problematic. The Padstow solicitor who is on the Lloyds conveyancing panel is recommending indemnity insurance as a solution but Lloyds are requiring a building regulation certificate. Why do Lloyds have a conveyancing panel if they don't accept advice from them?
It is probably the case that Lloyds have referred the matter to their valuer. The reason why Lloyds may not want to accept indemnity insurance is because it does not give them any reassurance that the double glazing was correctly and safely installed. The indemnity insurance merely protects against enforcement action which is very unlikely anyway.
I am buying a new build flat in Padstow. Conveyancing is necessary evil at the best of times but I have never purchased a new build flat before. Can you give me some examples of some of the questions asked in new build conveyancing.
Set out below is a sample of a few leasehold new build questions that you should expect your new-build leasehold conveyancing in Padstow
The Vendor must covenant to keep unsold units in good repair until long leases are granted therefore. Where there is an Undertaking being granted there is the risk of forfeiture of the Headlease subject to relief if one or more of the Underlessees are willing to accept the original Head Lessee’s obligations as otherwise relief will be denied to the Underlessees. The only alternatives are the Head Lessor agreeing not to forfeit the Headlease or the Head Lessee guaranteeing to the Underlessees that it will not be in breach of the Headlease. If there are lifts in the building, please confirm that the owners of flats on the ground and basement floors will not be required to contribute towards the cost of maintenance and renewal. Will the freehold then be transferred for a nominal consideration (not exceeding £100) to the Management Company? Forfeiture - bankruptcy or liquidation must not apply under this provision.
I need to instruct a conveyancing solicitor in Padstow for my purchase. Can I review a firm’s complaints history with the profession’s regulator?
One may review published Solicitor Regulator Association (SRA) determinations resulting from inquisitions started on or after Jan 2008. Visit Check a solicitor's record. To find records about the period before 1 January 2008, or to check a solicitors record, ring 0870 606 2555, 08.00 - 18.00 Monday, Wednesday, Thursday, Friday and 09.30 - 18.00 Tuesday. For callers outside the UK, use +44 (0)121 329 6800. The regulator sometimes recorded call for training purposes.
I’m about to sell my 2 bed flat in Padstow. Conveyancing lawyers have not yet been instructed, however I have recently received a yearly service charge demand – should I leave it to the buyer to sort out?
Your conveyancing lawyer is likely to suggest that you should clear the service charge as you normally would as all ground rent and service payments should be apportioned as part of the financial calculations for completion monies, so you should recover the relevant percentage by the buyer for the period running from after the completion date to the next payment date. Most managing agents will not acknowledge the buyer unless the service charges have been paid and are up to date, so it is important for both buyer and seller for the seller to show that they are up to date. Having a clear account will assist your cause and will leave you no worse off financially.
I inherited a split level flat in Padstow, conveyancing having been completed half a dozen years ago. Can you please calculate a probable premium for a statutory lease extension? Corresponding properties in Padstow with over 90 years remaining are worth £175,000. The ground rent is £65 per annum. The lease ceases on 21st October 2079
You have 58 years remaining on your lease we estimate the price of your lease extension to range between £23,800 and £27,400 as well as plus your own and the landlord's "reasonable" professional fees.
The suggested premium range that we have given is a general guide to costs for extending a lease, but we are not able to supply the actual costs in the absence of detailed due diligence. 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 considered and you obviously want to be as accurate as possible in your negotiations. Neither should you move forward placing reliance on this information before getting professional advice.
Do I cancel my mortgage payments with HSBC once a completion date for my sale in Padstow has been set?
You would be well advised to continue paying any mortgage payments to HSBC until the mortgage is discharged on completion as part of your Padstow conveyancing.