Is the fact that my solicitor in Romsey is not listed on my bank's conveyancing panel that there is a problem with the quality of his work?
That would more than likely be a wrong assumption to make. There are plenty of plausible explanations. Just recently a report by the solicitors regulator indicated 76% of law firms surveyed had been removed from at least one lender panel. The most common reasons for removal are: (1) lack of transactions (2) the lawyer is a sole practitioner (3) as part of the HSBC panel reduction (4) regulatory contact by SRA (5) accidental removal. Where you are concerned you should simply call the Romsey conveyancing practice and enquire why they are no longer on the approved list for your bank.
I purchased a freehold premises in Romsey but still charged rent, why is this and what is this?
It is rare for properties in Romsey and has limited impact for conveyancing in Romsey but some freehold properties in England (particularly common in North West England) pay an annual sum known as a Chief Rent or a Rentcharge to a third party who has no other legal interest in the land.
Rentcharge payments are usually between £2.00 and £5.00 per year. Rentcharges have existed for many centuries, but the Rent Charge Act 1977 barred the creation of fresh rentcharges post 1977.
Previous rentcharges can now be redeemed by making a one off payment under the Act. Any rentcharges that are still in existence after 2037 is to be dispensed with completely.
I used Stirling Law a few years ago for my conveyancing in Romsey. Now, I need my files however the law firm has closed. What do I do?
You should 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 Romsey 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.
About to purchase a new build flat in Romsey. 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 legal work.
Set out below is a sample of a few leasehold new build enquiries that you can expect your new-build leasehold conveyancing in Romsey
Please confirm the Lease plans are surveyor prepared. Investor purchasers must be able to freely grant unsecured tenancies at market rents without requiring any consents. Please supply evidence that the form of Lease proposed has been approved by the Land Registry. The Lease must contain a provision on behalf of the Vendor to pay the service charges in respect of unoccupied units in order to ensure that all services can be provided. The Vendor must covenant to keep unsold units in good repair until long leases are granted therefore.
Planning to complete next month on a ground floor flat in Romsey. Conveyancing lawyers inform me that they will have a report out to me next week. Are there areas in the report that I should be focusing on?
The report on title for your leasehold conveyancing in Romsey should include some of the following:
You should know if the lease allows you to add or improve aspects of the flat- you must be made aware as to whether it relates to all alterations or limited to structural alteration, and whether licences for alterations is required Repair and maintenance of the flat Details of the parties to the lease, for instance these could be the (you), head lessor, freeholder Rent payments - what is payable and when is collected, and also know whether this will change in the future
I purchased a studio flat in Romsey, conveyancing formalities finalised 3 years ago. Can you let me have an estimated range of the fair premium for a lease extension? Equivalent properties in Romsey with an extended lease are worth £190,000. The ground rent is £65 charged once a year. The lease finishes on 21st October 2080
You have 61 years left to run we estimate the premium for your lease extension to span between £18,100 and £20,800 as well as plus your own and the landlord's "reasonable" professional fees.
The suggested premium range above a general guide to costs for extending a lease, but we cannot give you the actual costs in the absence of detailed investigations. Do not use this information in tribunal or court proceedings. There are no doubt additional concerns that need to be taken into account and clearly you should be as accurate as possible in your negotiations. You should not move forward based on this information without first getting professional advice.