I had intended to instruct a property lawyer in Southsea for our house move. Our broker informed us that our mortgage lenders National Westminster Bank won't deal with them. Surely this is unfair competition?
Lenders normally restrict either the type or the number of conveyancing firms on their approved list of lawyers. Typical examples of such restriction(s) being that a law practice must not be a sole practitioner. As well as restricting the type of firm, some have decided to limit the amount of firms they permit to represent them. You should note that National Westminster Bank have no responsibility for the quality of advice provided by any member of National Westminster Bank Conveyancer Panel. Mortgage fraud was a key driver in the rationalisation of solicitor panels a few years ago even though there are mixed views regarding the level of solicitor involvement in some of that fraud. Figures from the Land Registry reveal that plenty of law firms, including some in or near Southsea only conduct a couple conveyances a year.
Can you point me to a directory of Principality panel conveyancers in Southsea on the Council of Mortgage Lender’s Website?
No. There is no such facility on the CML or Building Society Association websites. Very few mortgage companies make their panel listings visible over the internet. Where you are seeking to appoint a Southsea conveyancing practitioner on the Principality please make the most of our facility.
I recently had an offer agreed on a house in Southsea. My financial adviser pressured me to appoint their conveyancing practitioner. I paid an upfront payment of £200. A few days later, the conveyancer called me sheepishly admitting that they were not on the Nationwide conveyancing panel. Am I right in thinking that I should be due a refund?
You should be able to recover this from the law firm if they were not on the Nationwide panel. They should have asked at the outset which lender you were obtaining a mortgage with. An important lesson to readers of this site is to check that the lawyers are on the appropriate lender panel.
I was told three weeks ago that my mortgage has been agreed to by Barclays. Is it usual for Barclays to only issue the offer once my solicitor in Southsea is approved on their conveyancing panel? Barclays have asked my solicitor to see a copy of their Professional Indemnity Insurance Schedule.
Mortgage companies tend not to not issue a mortgage until they have details of a lawyer on their panel. It can take a few weeks for Barclays to deal with your lawyer's application to be on the Barclays conveyancing panel. There's no guarantee that your solicitor will be accepted.
Will commercial conveyancing searches reveal impending roadworks that may affect a commercial land in Southsea?
Many commercial conveyancing solicitors in Southsea will conduct a SiteSolutions Highways report as it dramatically cuts the time that conveyancers expend in sourcing accurate data on highways that impact buildings and development assets in Southsea. The report sets out definitive information on the adoption status of roads, footpaths and verges, as well as the implication of traffic schemes and the rights of way surrounding a commercial development sites in Southsea.
For every commercial conveyancing transaction in Southsea it is critical to investigate the adoption status of roads surrounding a site. The absence of identifying developments where adoption procedures have not been dealt with adequately could cause delays to Southsea commercial conveyancing transactions as well as pose a risk to future intentions for the site. These searches are not carried out for domestic conveyancing in Southsea.
My business partner and I are intending to lease a unit on a shopping parade. Can you recommend conveyancers offering no-move-no fees for commercial conveyancing in Southsea for under £1,200?
We can recommend firms who have an in-depth of experience of commercial conveyancing in Southsea, including the disposal and acquisition of businesses as well as simply property. If you are intending to buy or sell a shop, pub, restaurant, office, retail unit or a complete business we can put you in touch with the right firm. Regarding the costs this will depend on the structure and complexity of the proposed transaction. Let us have your details or phone us so that we may provide you with a fixed commercial conveyancing calculation.
Looking forward to complete next month on a basement flat in Southsea. Conveyancing lawyers have said that they will have a report out to me next week. What should I be looking out for?
The report on title for your leasehold conveyancing in Southsea should include some of the following:
It needs to be made clear to you whether the lease permits you to add or upgrade aspects of the property- you should know whether any restrictions relates to all alterations or just structural alteration, and whether consent is mandated necessary Rent payments - what is due and when you need to pay, and also know whether this is subject to change Repair and maintenance of the flat The unexpired lease term. You should receive guidance as what happens when the lease expires, and aware of the importance of not letting the lease term falling below eighty years Who has the liability to repair and maintain the building. It is essential for you to know which party is liable for the repair and maintenance of all parts of the block and communal areas
I own a garden flat in Southsea, conveyancing having been completed 6 years ago. Can you let me have an estimate of the premium that my landlord can legally expect in return for granting a renewal of my lease? Equivalent flats in Southsea with a long lease are worth £207,000. The ground rent is £60 per annum. The lease finishes on 21st October 2075
With 57 years unexpired we estimate the premium for your lease extension to range between £28,500 and £33,000 plus legals.
The suggested premium range above a general guide to costs for renewing a lease, but we are not able to provide the actual costs in the absence of detailed investigations. You should not use this information in tribunal or court proceedings. There may be other issues that need to be considered and clearly you should be as accurate as possible in your negotiations. Neither should you take any other action placing reliance on this information without first getting professional advice.