Is the fact that my solicitor in South Woodham Ferrers is not on my lender's conveyancing panel that there is a problem with the standard of his work?
It would not be wise to jump to that conclusion. There are all sorts of perfectly reasonable explanations. Just recently a report by the solicitors regulator revealed that over three quarters of law firms surveyed had been removed from at least one lender panel. The top 5 reasons are as follows: (1) low volume of transactions (2) the solicitor 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 simply call the South Woodham Ferrers conveyancing firm and ask them why they are no longer on the approved list for your mortgage company.
I had intended to instruct a conveyancing solicitor in South Woodham Ferrers for our home move. Our broker has since advised us that our bank Birmingham Midshires won't deal with them. Surely this is unduly restrictive?
Pre- 2008 most lenders had a different appetite for risk. Almost all South Woodham Ferrers conveyancing firms would have been on many mortgage company panels. The financial services regulator in 2010 carried out a thematic investigation into mortgage fraud which come to the conclusion: mortgage lenders should know the conveyancing solicitors dealt with. Consequently, mortgage companies are increasingly seeing more data from law firms relating to their operations and their employees and establishing certain criteria such a completing on a minimum amount of transactions. Many South Woodham Ferrers conveyancing firms that have been excluded from lender panels have Unblemished track record, no complaints and no claims and didn't just 'dabble' in conveyancing. South Woodham Ferrers is amongst the many locations where the solicitors we recommend are on the panel for Birmingham Midshires.
My friend advised me that where I am buying in South Woodham Ferrers I should carry out a Neighbourhood, Planning and Local Amenity Search. What does it cover?
A search of this type is sometimes included in the estimate for your South Woodham Ferrers conveyancing searches. It is not a small report of more than thirty pages, listing and detailing important information about South Woodham Ferrers around the property and the people living there. It includes an Aerial Photograph, Planning Applications, Land Use, Mobile Phone Masts, Rights of Way, the local Housing Market, Council Tax Banding, the type of People living in the area, the dominant type of Housing, the Average Property Price, Crime statistics, Local Education with plans and statistics, Local Amenities and other useful information regarding South Woodham Ferrers.
I am thinking of appointing a conveyancing lawyer in South Woodham Ferrers for my sale. Is there any facility to check a solicitor's complaints history with the profession’s regulator?
One can search for published Solicitor Regulator Association (SRA) decisions stemming from investigations from 2008 onwards. Visit Check a solicitor's record. For information Pre 2008, or to check a firm's record, telephone 0870 606 2555, 08.00 - 18.00 any week day save for Tuesday when lines open at 9.30am. International callers, use +44 (0)121 329 6800. The regulator may monitor telephone calls for training requirements.
My fiance and I may need to sub-let our South Woodham Ferrers 1st floor flat for a while due to a new job. We used a South Woodham Ferrers conveyancing firm in 2002 but they have closed and we did not think at the time get any advice as to whether the lease prohibits the subletting of the flat. How do we find out?
Your lease dictates relations between the freeholder and you the leaseholder; in particular, it will set out if subletting is banned, or permitted but only subject to certain caveats. The accepted inference is that if the lease contains no specific ban or restriction, subletting is permitted. The majority of leases in South Woodham Ferrers do not prevent an absolute prevention of subletting – such a clause would adversely affect the market value the property. Instead, there is usually a basic requirement that the owner notifies the freeholder, possibly supplying a copy of the tenancy agreement.
I own a split level flat in South Woodham Ferrers, conveyancing formalities finalised half a dozen years ago. Can you please calculate a probable premium for a statutory lease extension? Corresponding flats in South Woodham Ferrers with over 90 years remaining are worth £176,000. The ground rent is £50 per annum. The lease runs out on 21st October 2101
With just 80 years left to run we estimate the premium for your lease extension to span between £8,600 and £9,800 as well as professional fees.
The suggested premium range above 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 this information in a Notice of Claim or as an informal offer. There are no doubt additional concerns that need to be taken into account and you obviously should be as accurate as possible in your negotiations. Neither should you take any other action placing reliance on this information before seeking the advice of a professional.