My husband and I are looking to buy a flat in Andover and are in fact using a Andover conveyancing practice. Within the past 48 hours our conveyancer has sent a preliminary report and documents to look through with a view to exchanging next week. Barclays have this afternoon contacted us to inform me that there is now an issue as our Andover conveyancer is not on their conveyancing panel. What do we do from here?
If you are buying a property needing a mortgage it is normal for the purchasers' solicitors to also represent the purchaser's lender. In order to act for a bank or building society a law firm has to be on that lender's conveyancing panel. An application has to be made by the law firm to the lender to become a member of the lender's panel and there are increasingly strict criteria which the firm has to satisfy and indeed some lenders now require their panel members to be part of the Law Society’s Conveyancing Accreditation Scheme. Your solicitor should contact your lender and see if they can apply for membership of their conveyancing panel, but if that is not viable they will instruct their own lawyers to represent them. You are not legally obliged to appoint a law firm on the lender’s conveyancing panel and you may continue to use your own Andover solicitors, in which case your legal fees may increase, and it will likely delay the transaction as you have another set of people involved.
AssumingI were to acquire a freehold housein Andover mortgage fee and have no survey and no local authority searches how much should I expect to to save on my conveyancing in Andover?
The only reduction in fees you would achieve is the costs for searches. The property lawyer is obliged to do the vast majority of work - money laundering, communicating with the sellers solicitor, SDLT return, register the property etc. A marginal saving might be made by not needing to register a charge however it won't be significant.
As I am unsure how the conveyancing bit works what is the most important number one tip you can give me about purchase conveyancing in Andover?
Not many law firms or advisers will tell you this but conveyancing in Andover and elsewhere in Hampshire is often a confrontational experience. Put another way, when it comes to conveyancing there exists plenty of opportunity for confrontation between you and others involved in the legal transfer of property. E.g., the vendor, estate agent and sometimes a bank. Selecting a lawyer for your conveyancing in Andover should not be taken lightly as your conveyancer is your adviser, and is the SOLE person in the transaction whose role it is to act in your legal interests and to protect you.
Every so often a third party with a vested interest may try and persuade you that it is in your interests to do things their way. For instance, the estate agent may claim to be assisting by claiming that your lawyer is dragging his heels. Or your mortgage broker may advise you to do something that is against your lawyers advice. You should always trust your lawyer above all other parties when it comes to the legal transfer of property.
I have today made my last payment due on my mortgage with Skipton. I assume I don't need a Andover property lawyer on the Skipton panel to remove the mortgage at the Land Registry. Am I right?
If you have finished paying off your Skipton mortgage, they may send you evidence showing that you have paid it off. Alternatively they may notify the Land Registry directly. The Land Registry need to see this evidence before they will remove the Skipton mortgage from the register. Skipton, and any evidence they send you, will determine the action you need to take. In cases where no conveyancer is acting for you and you have paid off your mortgage:
- but are not moving to another property
- where Skipton has sent the Land Registry the discharge electronically, and
- Skipton has instructed the Land Registry to do so
I am selling my apartment. I had a double glazing fitted in April 2006, but did not receive a FENSA certificate or Building Regulation Certificate. My buyer's lender, Yorkshire BS are being problematic. The Andover solicitor who is on the Yorkshire BS conveyancing panel is happy to accept ‘lack of building regulation’ insurance but Yorkshire BS are requiring a building regulation certificate. Why do Yorkshire BS have a conveyancing panel if they don't accept advice from them?
It is probably the case that Yorkshire BS have referred the matter to their valuer. The reason why Yorkshire BS 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.
Barclays have agreed my home loan in principle, my offer on a apartment in Andover has been agreed to, what happens next?
The estate agent will need to be informed of your solicitor's details (make sure the property lawyers are on the bank’s panel). Call up Barclays or the broker and complete any appropriate paperwork. Barclays will appoint a valuer who will get in touch with the selling agent or owners to arrange a slot for the valuation to take place. Once conducted (assuming no problems) it takes on average a week to get a mortgage offer. Barclays will send the offer to you and your lawyers. The transaction will then take it’s course according the nature and complexity of the conveyancing in Andover.
I used Wolstenholmes a few years past for my conveyancing in Andover. I now require my file however cannot find the solicitor. What do I do?
You should contact the Solicitors Regulatory Authority (SRA) to help locate your conveyancing files. They can be contacted on please contact on 0870 606 2555. Alternatively, you should use their online form to make an enquiry. You will need to provide the SRA with as much information as possible to assist their search, including the name and address in Andover of the conveyancing firm of solicitors you previously hired, the name of conveyancing solicitor with whom you had dealings, and the date on which you last had dealings with the firm.
I am in need of some leasehold conveyancing in Andover. Before I set the wheels in motion I require certainty as to the remaining lease term.
Assuming the lease is registered - and 99.9% are in Andover - then the leasehold title will always include the basic details of the lease, namely the date; the term; and the original parties. From a conveyancing perspective such details then enable any prospective buyer and lender to confirm that any lease they are looking at is the one relevant to that title. For any other purpose, such as confirming how long the term was granted for and calculating what is left, then the register should be sufficient on it's own.
I bought a 1st floor flat in Andover, conveyancing having been completed half a dozen years ago. Can you work out an approximate cost of a lease extension? Corresponding flats in Andover with over 90 years remaining are worth £190,000. The ground rent is £65 invoiced every year. The lease finishes on 21st October 2082
With only 61 years remaining on your lease we estimate the premium for your lease extension to range between £19,000 and £22,000 as well as plus your own and the landlord's "reasonable" professional fees.
The figure that we have given is a general guide to costs for extending a lease, but we cannot give you a more accurate figure without more comprehensive due diligence. You should not use the figures in a Notice of Claim or as an informal offer. There may be additional issues that need to be considered and you obviously want to be as accurate as possible in your negotiations. Neither should you take any other action based on this information before seeking the advice of a professional.