Is the fact that my solicitor in Ashton is not listed on my bank's solicitor panel that there is a problem with the quality of his conveyancing?
It would not be wise to jump to that conclusion. There are all sorts of perfectly plausible 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 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 simply call the Ashton conveyancing firm and ask them why they are no longer on the approved list for your lender.
My wife and I are buying a brand new apartment in Ashton and my solicitor is informing me that she is duty bound to the mortgage company to reveal incentives from the seller. I am under pressure to exchange and I have no desire to delay the conveyancing. Is my lawyer right?
You should not exchange unless you have been advised to do so by your property lawyer. A precondition to being on a bank panel is to comply with the UK Finance Lenders’ Handbook requirements. The CML Conveyancing Handbook requires that your lawyer have the appropriate Disclosure of Incentive form completed by the developer and accepted by your lender.
It is 10 years ago since I bought my property in Ashton. Conveyancing lawyers have recently been instructed on the sale but I am unable to track down my deeds. Is this a problem?
You need not be too concerned. First there is a possibility that the deeds will be with your lender or they could stored with the lawyers who handled your purchase. Secondly the chances are that the property will be registered at the land registry and you will be able to prove you are the registered owner by your conveyancing solicitors acquiring current official copies of the land registers. Most conveyancing in Ashton relates to registered property but in the rare situation where your home is unregistered it is more of a problem but is resolvable.
Completion of my remortgage has taken place for my property in Ashton. Conveyancing was of an acceptable standard but I feel I should register my dissatisfaction about the lender. How do I make a complaint?
Almost all lenders have complaints procedures. Your first point of contact should be one of the lender’s branches or the Customer Care Team at head office. We understand that complaints to a lender are sorted out effectively and efficiently. If you feel the matter is not resolved you can write to Financial Ombudsman Service who will take matters further.
I am selling my flat. I had a double glazing fitted in October 2007, but did not receive a FENSA certificate or Building Regulation Certificate. My buyer's lender, Leeds Building Society are being difficult. The Ashton solicitor who is on the Leeds Building Society conveyancing panel is happy to accept ‘lack of building regulation’ insurance but Leeds Building Society are requiring a building regulation certificate. Why do Leeds Building Society have a conveyancing panel if they don't accept advice from them?
It is probably the case that Leeds Building Society have referred the matter to their valuer. The reason why Leeds Building Society may not want to accept indemnity insurance is because it does not give them any reassurance that the double glazing was correctly and safely installed. The indemnity insurance merely protects against enforcement action which is very unlikely anyway.
I was told three weeks ago that my mortgage has been agreed to by Virgin Money. Is it usual for Virgin Money to only issue the offer once my solicitor in Ashton is approved on their conveyancing panel? Virgin Money have asked my solicitor to see a copy of their PI Insurance.
A lender would not issue a mortgage until they have details of a lawyer on their panel. It can take a few weeks for Virgin Money to deal with your lawyer's application to be on the Virgin Money conveyancing panel. There's no guarantee that your solicitor will be accepted.
Do you have any top tips for leasehold conveyancing in Ashton with the intention of speeding up the sale process?
- A significant proportion of the frustration in leasehold conveyancing in Ashton can be avoided where you get in touch lawyers as soon as your agents start advertising the property and ask them to put together the leasehold information which will be required by the buyers’ lawyers. If you are supposed to have a share in the Management Company, you should ensure that you have the original share document. Obtaining a re-issued share certificate is often a time consuming process and frustrates many a Ashton conveyancing transaction. Where a new share certificate is necessary, you should approach the company officers or managing agents (where applicable) for this at the earliest opportunity. If you have had conflict with your landlord or managing agents it is very important that these are resolved before the property is put on the market. The purchasers and their solicitors will be reluctant to purchase a flat where there is an ongoing dispute. You may need to swallow your pride and discharge any arrears of service charge or settle the dispute prior to completion of the sale. It is therefore preferable to have any dispute settled ahead of the contract papers being issued to the buyers’ solicitors. You will still have to reveal details of the dispute to the purchasers, but it is better to reveal the dispute as historic as opposed to unsettled. Some Ashton leases require Landlord’s consent to the sale and approval of the buyers. If this applies to your lease, it would be prudent to place the estate agents on notice to make sure that the purchasers put in hand financial (bank) and professional references. The bank reference will need to confirm that the buyers are able to meet the annual service charge and the actual amount of the service charge should be quoted in the bank’s letter. You will therefore need to provide your estate agents with the actual amount of the service charge so that they can pass this information on to the purchasers or their lawyers.
I invested in buying a 1st floor flat in Ashton, conveyancing was carried out half a dozen years ago. Can you shed any light on how much the price could be for a 90 year extension to my lease? Equivalent properties in Ashton with a long lease are worth £201,000. The average or mid-range amount of ground rent is £45 invoiced every year. The lease terminates on 21st October 2090
With 64 years left to run the likely cost is going to span between £14,300 and £16,400 plus plus your own and the landlord's "reasonable" professional fees.
The figure above a general guide to costs for extending a lease, but we are not able to provide a more accurate figure without more detailed due diligence. You should not use the figures in tribunal or court proceedings. There may be additional concerns that need to be considered and clearly you want to be as accurate as possible in your negotiations. Neither should you take any other action based on this information without first seeking the advice of a professional.
My solicitors in Ashton have advised me that no longer have my conveyancing file. At the time of my purchase I took out a mortgage with the lender. Is it case that being on the bank conveyancing panel they need to have retained the file for a number of years?
Different lenders have different requirements but many of the Terms and Conditions of Conveyancing Panel Appointment require the file to be held for a period of 6 years. That being said we have not seen a copy of the bank Conveyancing Panel Terms. It might be worth you contacting the bank directly.