Am I correct in assuming that the fact that my conveyancer in Acocks Green is not identified on my lender's solicitor panel that there is a problem with the quality of his conveyancing?
It would be unwise to jump to that conclusion. There are plenty of reasonable explanations. A recent 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 contact the Acocks Green conveyancing practice and ask them why they are no longer on the approved list for your bank.
Our Acocks Green conveyancer has discovered a discrepancy between the assumptions in the valuation survey and what is in the legal papers for the property. My lawyer has advised that he must check that the bank is happy with this discrepancy and is content to go ahead. Is my conveyancer’s stance correct?
Your conveyancer must comply with the UK Finance Lenders’ Handbook conditions which do require that your lawyer disclose any incorrect assumptions in the lender’s valuation report and the legal papers. Should you refuse to allow your lawyer to make the appropriate notification then your lawyer will have no choice but to discontinue acting for both parties.
This question may be naive but I am unexperienced as FTB of a garden flat in Acocks Green. Do I collect the keys to the premises on completion from my lawyer? If this is the case, I will use a local conveyancing solicitor in Acocks Green?
There is no need to visit the lawyers office on the day of completion. Conveyancing lawyers for you will transfer the completion advance to the seller's conveyancers, and once they have received this, you will be called to collect the keys from the selling Agents and start moving into the property. Usually this occurs between 1 and 3pm.
We are purchasing a terrace house in Acocks Green. Our aim is to carry out a loft conversion at the property.Will legal investigations on the property involve investigations to determine if these works were previously refused?
Your solicitor should review the deeds as conveyancing in Acocks Green will occasionally reveal restrictions in the title documents which prohibit categories of changes or need the consent of another owner. Some additions need local authority planning permissions and approval under the building regulations. Many areas are designated conservation areas and special planning restrictions apply which frequently prevent or impact extensions. You should check these things with a surveyor before you commit yourself to a purchase.
The formalities of my purchase has taken place for my property in Acocks Green. Conveyancing was a necessary evil but I feel I should register my dissatisfaction about the lender. Who do I contact should I wish to lodge a complaint?
Most banks and building societies have complaints procedures. Your first point of contact should be one of the lender’s branches or the Customer Services Department at head office. Ordinarily complaints to a lender are sorted out effectively and efficiently. However if you are not satisfied that the matter is not resolved you can write to Financial Ombudsman Service who will take matters further.
I have a terraced Victorian property in Acocks Green. Conveyancing practitioner acted for me and Chelsea Building Society. I happened to do a free search for it on the Land Registry database and I saw a couple of entries: the first freehold, another for leasehold with the matching address. If a house is not a freehold shouldn't I have been informed?
You need to assess the Freehold register you have again and check the Charges Register for mention of a lease. The best way to be sure that you are also the registered proprietor of the leasehold and freehold title as well is to check (£3). It is not completely unheard of in Acocks Green and other locations in the country and poses no real issues for owners other than when they sell they have to account for both freehold and leasehold interests when dealing with lenders. You can also question the position with your conveyancing lawyer who conducted the conveyancing.
I have been on the look out for a leasehold apartment up to £195,000 and identified one near me in Acocks Green I like with open areas and station in the vicinity, however it only has 51 remaining years left on the lease. I can't really find anything else in Acocks Green in this price bracket, so just wondered if I would be making a grave error acquiring a short lease?
If you require a home loan that many years will be problematic. Discount the price by the expected lease extension will cost if it has not already been discounted. If the current proprietor has owned the property for a minimum of 2 years you may request that they start the process of the extension and pass it to you. An additional ninety years can be extended on to the existing lease and have £0 ground rent by law. You should consult your conveyancing solicitor regarding this matter.
I have just started marketing my ground floor apartment in Acocks Green. Conveyancing has not commenced, but I have just received a yearly maintenance charge demand – should I leave it to the buyer to sort out?
The sensible thing to do is discharge the invoice as usual given that all rents and service charges will be allotted on completion, so you should recover the relevant percentage by the buyer for the period running from after the completion date to the next payment date. Most management companies will not acknowledge the buyer unless the service charges have been paid and are up to date, so it is important for both buyer and seller for the seller to show that they are up to date. This will smooth the conveyancing process.
I am the registered owner of a 1st floor flat in Acocks Green, conveyancing was carried out April 2007. How much will my lease extension cost? Corresponding properties in Acocks Green with a long lease are worth £211,000. The ground rent is £50 yearly. The lease finishes on 21st October 2089
With just 68 years remaining on your lease the likely cost is going to range between £9,500 and £11,000 plus costs.
The suggested premium range that we have given is a general guide to costs for renewing a lease, but we cannot give you the actual costs in the absence of 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 you obviously should be as accurate as possible in your negotiations. You should not move forward placing reliance on this information without first seeking the advice of a professional.