The Quorn conveyancing firm that just started acting on my house acquisition in Quorn have without warning shut down. I only went with them because I had to have a lawyer on the Virgin Money conveyancing panel and my previous Quorn lawyer was not. I cut them a cheque for £250 in advance. What are my options?
If you have an estate agent involved then let them know straight away so that they can let the sellers know that there may be a slight delay due to reasons beyond your control. Most sellers would be sympathetic and urge their lawyer to send a new set of papers to your new solicitors. You should appoint new lawyers that are on the Virgin Money conveyancing panel and notify the lender. If you have paid over any money, it will hopefully be held by the SRA as money in an intervened firm's bank accounts is transferred to the SRA. Then, the SRA or the intervention agent looks at the intervened firm's accounts to work out who the money belongs to. To claim your money you will need to contact the SRA. If the SRA cannot return money you are owed from the firm's bank accounts, or if they can only return part of the money, you can apply to the Compensation Fund for a grant. Your new lawyers should be in a position to help.
Me and my brother purchased a renovated Georgian property in Quorn. Conveyancing lawyer acted for me and Skipton Building Society. I happened to do a free search for it on the Land Registry database and there are a couple of entries: the first freehold, the second leasehold with the matching address. Is it worth asking Skipton Building Society to clarify?
You need to assess the Freehold register you have again and check the Charges Register for mention of a lease. The best way to be sure that you are also the registered owner of the leasehold and freehold title as well is to check (£3). It is not completely unheard of in Quorn and other locations in the country and poses no real issues for owners other than when they remortgage they have to account for both freehold and leasehold interests when dealing with purchasers. You can also enquire as to the position with the conveyancing lawyer who conducted the work.
I've recently found out that there is a flying freehold issue on a property I have offered on two weeks back in what should have been a simple, no chain conveyancing. Quorn is the location of the property. Can you shed any light on this issue?
Flying freeholds in Quorn are rare but are more likely to exist in relation to terraced houses. Even where you use a solicitor outside Quorn you must be sure that your lawyer goes through the deeds thoroughly. Your bank may require your conveyancing solicitor to take out an indemnity policy. Some of the more diligent conveyancing solicitors in Quorn may determine that this is not enough and that the deeds be re-written to give you the most up to date legal protection. If so, the next door neighbour also had to sign up to the revised deeds.It is possible that your lender will not accept the situation so the sooner you find out the better. You should also check with your insurance broker as to whether they will insure a flying freehold residence.
Due to sign contracts shortly on a ground floor flat in Quorn. Conveyancing lawyers inform me that they are sending me a report within the next couple of days. What should I be looking out for?
The report on title for your leasehold conveyancing in Quorn should include some of the following:
The landlord’s rights to access the property. You should be made aware that your landlord has rights of access as well as be informed how much notice must be provided. Whether the landlord has obligations to ensure rights of quiet enjoyment over your property and do you know what it means in practice? Does the lease require carpeting throughout thus preventing wood flooring? specifics of the parties to the lease, for instance these could be the leaseholder, head lessor, landlord
I inherited a studio flat in Quorn, conveyancing was carried out 8 years ago. How much will my lease extension cost? Corresponding properties in Quorn with over 90 years remaining are worth £201,000. The average or mid-range amount of ground rent is £45 invoiced annually. The lease comes to an end on 21st October 2084
You have 65 years left to run the likely cost is going to range between £13,300 and £15,400 plus professional fees.
The suggested premium range that we have given is a general guide to costs for extending a lease, but we cannot give you a more accurate figure in the absence of comprehensive investigations. Do not use this information in a Notice of Claim or as an informal offer. There may be additional issues that need to be taken into account and clearly you should be as accurate as possible in your negotiations. You should not take any other action placing reliance on this information before seeking the advice of a professional.
My fiance and I are buying a four bedroom bungalowin Quorn with a residential mortgage from a bank. We wish to instruct our lawyer in Quorn yet our mortgage company advise she’s not approved on their "panel". We have to appoint from the our lender panel solicitors or keep our Quorn solicitor and incur the extra legals for one of their panel ones to represent our mortgage company. We feel as though this is unjust; is there anything we can do?
No, not really. The bank home loan issued is subject to its terms and conditions, one of which will be that lawyers will on the mortgage company's conveyancing panel. Until recently, most banks had large numbers of law firms on their panels, including many conveyancing solicitors in Quorn : a borrower could choose 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. Another option that might be available is for your lawyer to apply to be on the conveyancing panel for your mortgage company.