Is the fact that my solicitor in Whitmore is not on my bank's solicitor panel that there is a problem with the quality of her conveyancing?
It would not be wise to jump to that conclusion. 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) low volume 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 Whitmore conveyancing practice and ask them why they are no longer on the approved list for your lender.
What is your number one tip for choosing a conveyancing solicitor in Whitmore
Do not opt for the cheapest Whitmore conveyancing quote. You really do get what you pay for when it comes to property lawyers. A cheap quote may mean that the conveyancing solicitor is handling a lot of jobs at one time and you won’t get the quality of service and the attention that you need. It is, however, wise to use a conveyancer who has a fixed fee on a no sale, no fee basis. This way, you know exactly what you’ll have to pay in ahead of the deal.
We had selected conveyancing lawyers with offices in Whitmore on the Bank of Ireland solicitor panel. They have just invoiced me an additional charge for dealing with the Bank of Ireland mortgage. Is this a supplemental conveyancing fee specified by Bank of Ireland?
As unfair as it may appear, as long as it’s in their Terms and Conditions or estimate then yes your lawyer can charge a fee for this. The charge is not dictated by Bank of Ireland but by your Whitmore solicitor. Some firms on the Bank of Ireland panel will quote an ‘acting for lender’ fee and others do not.
It is not clear whether my lender obliges me to make sure the lease term for the flat is extended prior to the completion date. I have telephoned my Whitmore bank branch on a couple of occasions and was told it does not impact the mortgage offer and they would lend. My Whitmore conveyancing solicitor - who is on the bank conveyancing panel- called to say that they refuse to lend based on their published requirements. Who do I believe?
Provided that the conveyancing practitioner is on the mortgage company panel, she or he must follow the CML Handbook provisions for the bank. Unless your lawyer obtains specific confirmation in writing that the bank will go ahead, your lawyer has no choice but to refrain from exchanging contract and committing you to the purchase. We would suggest that you ask the mortgage company to contact your lawyer in writing confirming that they will accept the number of years left on the lease.
How does conveyancing in Whitmore differ for newly converted properties?
Most buyers of new build property in Whitmore come to us having been asked by the builder to exchange contracts and commit to the purchase even before the residence is finished. This is because house builders in Whitmore tend to acquire the land, plan the estate and want to get the plots sold off as they are building the properties. Buyers, therefore, will have to exchange contracts without actually seeing the house they are buying. To reduce the chances of losing the property, buyers should instruct conveyancers as soon as the property is reserved and mortgage applications should be submitted quickly. Due to the fact that it could be several months and even years between exchange of contracts and completion, the mortgage offer may need to be extended. It would be wise to use a lawyer who specialises in new build conveyancing especially if they are used to new build conveyancing in Whitmore or who has acted in the same development.
Am I best advised to instruct a Whitmore conveyancing solicitor in close proximity to the house I am purchasing? We have a good friend who can handle the conveyancing however her office is 400kilometers drive away.
The primary upside of using a high street Whitmore conveyancing practice is that you can pop in to execute paperwork, deliver your ID and pester them if necessary. They will also have local knowledge which is a benefit. That being said it's more important to get someone that will pull out all the stops for you. If you know people who instructed your friend and they were content that should outweigh using an unfamiliar Whitmore conveyancing lawyer solely due to them being round the corner.
I've recently bought a leasehold house in Whitmore. Am I liable to pay service charges relating to a period prior to my ownership?
In a situation where the service charge has already been demanded from the previous owner and they have not paid you would not usually be personally liable for the arrears. Strange as it may seem, your landlord may still be able to take action to forfeit the lease. A critical element of leasehold conveyancing for your conveyancer to be sure to have an up to date clear service charge receipt before completion of your purchase. If you have a mortgage this is likely to be a requirement of your lender.
If you purchase part way through an accounting year you may be liable for charges not yet demanded even if they relate to a period prior to your purchase. In such circumstances your conveyancer would normally arrange for the seller to set aside some money to cover their part of the period (usually called a service charge retention).
I am the registered owner of a 2 bed flat in Whitmore, conveyancing formalities finalised half a dozen years ago. Can you give me give me an indication of the likely cost of a lease extension? Comparable properties in Whitmore with an extended lease are worth £227,000. The ground rent is £50 invoiced annually. The lease ends on 21st October 2091
You have 72 years remaining on your lease we estimate the premium for your lease extension to span between £9,500 and £11,000 as well as 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 comprehensive investigations. Do not use this information in tribunal or court proceedings. There may be other concerns that need to be considered and clearly you want to be as accurate as possible in your negotiations. Neither should you move forward placing reliance on this information before seeking the advice of a professional.