My partner and I are looking to acquire a home in Bankside and have appointed a Bankside conveyancing firm. Within the last couple of days our property lawyer has forwarded the sale agreement to be signed with a detailed report in anticipation of exchanging contracts shortly. Nottingham Building Society have this morning contacted us to inform me that there is now an issue as our Bankside solicitor is not on their conveyancing panel. Is this a problem?
Where you are buying a property with the assistance of a mortgage it is usual for the purchasers' solicitors to also represent the mortgage company. 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 property lawyer 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 solicitors to act. You don't have to instruct a firm on the lender’s conveyancing panel and you may continue to use your own Bankside solicitors, in which case it will likely add costs, and it will likely delay the transaction as you have another set of people involved.
My Bankside conveyancer has discovered a discrepancy between the surveyor’s assumptions in the home valuation survey and what is revealed within the legal papers for the property. My lawyer says that he must check that the bank is happy with this discrepancy and is content to go ahead. Is my conveyancer’s approach correct?
Your solicitor must comply with the UK Finance Lenders’ Handbook provisions 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.
My friend advised me that where I am buying in Bankside I should carry out a Neighbourhood, Planning and Local Amenity Search. What does it cover?
This is a search is occasionally included in the estimate for your Bankside conveyancing searches. It is a large report of more than thirty pages, listing and setting out important information about Bankside around the property and the people living there. It incorporates an Aerial Photograph, Planning Applications, Land Use, Mobile Phone Masts, Rights of Way, the Bankside Housing Market, Council Tax Banding, the demographics of People living in the area, the dominant type of Housing, the Average Property Price, Crime details, Local Education with maps and statistics, Local Amenities and other useful information regarding Bankside.
I am a sole trader hoping to take over a lease of a shop on a shopping parade. Can you recommend solicitors offering no-move-no costs for non-domestic conveyancing in Bankside for below 2k?
We can recommend firms who have specialist knowledge of commercial conveyancing in Bankside, including the sale and purchase of businesses as well as simply property. Whether you are intending to buy or lease a shop, pub, restaurant, office, retail unit or a complete business we will find you the right lawyer. As for the costs these will vary based on the structure and terms of the proposed transaction. Please provide us with your details or phone us so that we can supply you with a fixed commercial conveyancing quote.
My wife and I purchased a leasehold flat in Bankside. Conveyancing and Alliance & Leicester mortgage went though with no issue. A letter has just been received from someone claiming to own the freehold. Attached was a demand for arrears of ground rent dating back to 1991. The conveyancing practitioner in Bankside who acted for me is not around. Do I pay?
First contact the Land Registry to be sure that the individual purporting to own the freehold is indeed the registered owner of the freehold reversion. You do not need to incur the fees of a Bankside conveyancing practitioner to do this as you can do this on the Land Registry website for less than a fiver. Rest assured that regardless, even if this is the legitimate freeholder, under the Limitation Act 1980 no more than 6 years of rent can be collected.
I have attempted and failed to negotiate with my landlord to extend my lease without getting anywhere. Can the Leasehold Valuation Tribunal decide on such matters? Can you recommend a Bankside conveyancing firm to represent me?
Most certainly. We are happy to put you in touch with a Bankside conveyancing firm who can help.
An example of a Freehold Enfranchisement matter before the tribunal for a Bankside property is 1-41 Royal Tower Lodge 40 Cartwright Street in April 2013. the tribunal adding the agreed value of capitalised ground rents and the reversion the price to be paid for the freehold was £1,187,000 This case was in relation to 41 flats. The unexpired term as at the valuation date was 107 years.
What is the reason for new build conveyancing in Bankside being more expensive?
Conveyancing in Bankside for newly converted or new build homes often involve adoption of highways & drains, building regulations approval, planning permission, new build warranties such NHBC as well as supplemental queries and contractual considerations.