I am selling my ground floor flat in Parkstone and the EA has just called to advise that the buyers are swapping property lawyer. I am told that this is due to the fact that the bank will only engage with property lawyers on their approved list. On what basis would a major lender only engage with specific law firms rather the firm that they want to choose for their conveyancing in Parkstone ?
UK lenders have always had an approved set of law firms that can act for them, but in recent years big names such as Yorkshire Building Society, have considered and reduced their conveyancing panel– in some cases removing conveyancing firms who have worked with them for more than 15 years.
Lenders point to the increase in fraud by way of justification for the reduction – criteria have been stiffened as a smaller panel is easier to maintain. No lender will say how many solicitors have been dropped, claiming the information is commercially sensitive, but the Law Society says it is being contacted daily by practices that have been removed from panels. Some do not even realise they have been dropped until contacted by a borrower who has instructed them as might be the situation in your buyers' case. Your buyers are not going to have any impact on this.
I purchased a freehold house in Parkstone but nevertheless pay rent, why is this and what is this?
It’s unusual for properties in Parkstone and has limited impact for conveyancing in Parkstone but some freehold properties in England (particularly common in North West England) pay an annual sum known as a Chief Rent or a Rentcharge to a third party who has no other legal interest in the land.
Rentcharge payments are usually between £2.00 and £5.00 per year. Rentcharges have existed for many centuries, but the Rent Charge Act 1977 barred the generation of fresh rentcharges post 1977.
Previous rentcharges can now be redeemed by making a lump sum payment under the Act. Any rentcharges that are still in existence in 2037 is to be dispensed with completely.
I am helping my sister sell her house in Parkstone. Does the conveyancing solicitor arrange an energy performance certificate or should I organise this?
After the demise of HIPs, energy performance certificates was left as a required element of selling a property. An energy performance certificate must be to hand prior to the property being marketed. This is not as aspect of the sale process that conveyancers normally organise. Where you are instructing a Parkstone conveyancing practitioner they might help arrange EPC’s due to their contacts with reputable Parkstone accredited person
I recently had an offer agreed on an apartment in Parkstone. My financial adviser recommended their conveyancers. I paid an upfront payment of £225. Soon after, the lawyer contacted me to say that they were not on the RBS 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 RBS 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.
Nottingham have agreed my home loan in principle, my bid on a apartment in Parkstone has been accepted, what are the next steps?
Your estate agent will want to know who your solicitors are (ensure that the conveyancing practitioners are on the lender’s approved list). Telephone Nottingham or your broker and finalise any relevant paperwork. Nottingham will sellect a valuer who will get in contact with the estate agent or vendor to book an appointment. Once carried out (assuming no problems) it takes on average a week for the mortgage offer to be issued. Nottingham will issue the offer to you and your conveyancing practitioners. The transaction will then take it’s course according the nature and complexity of the conveyancing in Parkstone.
I am looking for a flat up to £235,500 and identified one round the corner in Parkstone I like with amenity areas and transport links in the vicinity, the downside is that it only has 52 remaining years left on the lease. There is not much else in Parkstone in this price bracket, so just wondered if I would be making a mistake acquiring a lease with such few years left?
Should you need a mortgage the remaining unexpired lease term will be problematic. Discount the offer by the amount the lease extension will cost if it has not already been discounted. If the current owner has owned the premises for at least 2 years you could request that they commence the lease extension formalities and then assign it to you. An additional ninety years can be extended on to the existing lease term and have £0 ground rent by law. You should consult your conveyancing lawyer concerning this.
What makes your site different to alternative web based conveyancing solicitors when it comes to conveyancing in Parkstone?
At this site get a fixed fee quote from a Solicitor or Licensed Conveyancer that appreciates the nuances for your conveyancing in Parkstone. As opposed to estate agents and brokerage sites we are not in the business of charging firms a fee if you instruct them for your home move in Parkstone
I am using a search engine for the phrase conveyancing in Parkstone it reveals many property lawyerslocally. How do I determine which is the suitable property lawyer for my move?
The ideal way of seeking the right conveyancer is via trusted referral, so ask colleagues and those you trust who have purchased a property in Parkstone or a local estate agent or financial adviser. Charges for conveyancing in Parkstone vary, so it's sensible to request a minimum of three quotes from different property lawyers. Dont forget to clarify that the costs are guaranteed not to escalate.