Am I correct in assuming that the fact that my conveyancer in Seaton Sluice is not on my bank's solicitor panel that there is a problem with the quality of her work?
That would most likely be an incorrect assumption to make. There are all sorts of perfectly reasonable explanations. A recent report by the solicitors regulator revealed 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. Should you be concerned you should contact the Seaton Sluice conveyancing practice and enquire why they are no longer on the approved list for your mortgage company.
My Conveyancer in Seaton Sluice has never been on on the HSBC Bank Solicitor Panel. Is it possible for me to continue with my family solicitor notwithstanding that they are not on the HSBC Bank approved list?
Your options are as follows:
- Complete the purchase with your existing Seaton Sluice solicitors but HSBC Bank will need to instruct a solicitor on their list of acceptable firms. This will inevitably rack up the total conveyancing charges and result in delays.
- Choose an alternative solicitor to to deal with the purchase, remembering to check they are on the HSBC Bank panel
Various web forums that I have frequented warn that are the number one cause of delay in Seaton Sluice conveyancing transactions. Is this right?
The Council of Property Search Organisations (CoPSO) has noted the conclusions of research by MoveWithUs that conveyancing searches do not feature amongst the most frequent causes of delays in the conveyancing process. Searches are not likely to be the root cause of delay in conveyancing in Seaton Sluice.
I have recentlyfound out that Action Conveyancing have been shut down. They conducted my conveyancing in Seaton Sluice for a purchase of a leasehold apartment 10 months ago. How can I establish that my home is in my name in the name of the former proprietor?
The quickest method to see if the property is in your name, you can make a search of the land registry (£3.00). You can either do this yourself or ask a law firm to do this for you. If you are not registered you can seek help from one of a number of Seaton Sluice conveyancing specialists.
What makes a Seaton Sluice lease unacceptable for security purposes?
There is nothing unique about leasehold conveyancing in Seaton Sluice. All leases are individual and drafting errors can sometimes mean that certain provisions are erroneous. For example, if your lease is missing any of the following, it could be defective:
A duty to insure the building Service charge per centages that don't add up correctly leaving a shortfall
A defective lease will likely cause issues when trying to sell a property as they can affect a potential buyer’s ability to obtain a mortgage. HSBC Bank, Bank of Scotland, and Clydesdale all have very detailed conveyancing instructions when it comes to what is expected in a lease. If a mortgage lender believes that the lease does not cover certain provisions they may refuse to provide security, forcing the buyer to pull out.
I own a 1st floor flat in Seaton Sluice, conveyancing was carried out half a dozen years ago. Can you work out an approximate cost of a lease extension? Corresponding flats in Seaton Sluice with over 90 years remaining are worth £260,000. The ground rent is £45 invoiced every year. The lease ends on 21st October 2094
With only 74 years unexpired the likely cost is going to span between £8,600 and £9,800 plus legals.
The figure that we have given is a general guide to costs for renewing a lease, but we cannot give you the actual costs without more detailed due diligence. You should not use the figures in tribunal or court proceedings. There may be other concerns that need to be considered and you obviously want to be as accurate as possible in your negotiations. You should not move forward based on this information before getting professional advice.