Is the fact that my conveyancer in Corbridge is not listed on my bank's conveyancing panel that there is a problem with the standard of the firm’s conveyancing?
It would not be wise to jump to that conclusion. There are plenty of plausible 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. Where you are concerned you should simply call the Corbridge conveyancing firm and ask them why they are no longer on the approved list for your lender.
My wife and I have recently appointed a conveyancing solicitor in Corbridge. I I am struggling to find out if they are accepted on the Barclays Direct conveyancing panel. Can you assist?
You should contact the solicitor and ask them if they can act for the bank. Alternatively you should get in touch with Barclays Direct who may be able to assist.
Will my conveyancer be raising enquiries about flooding as part of the conveyancing in Corbridge.
Flooding is a growing risk for solicitors dealing with homes in Corbridge. There are those who purchase a house in Corbridge, completely expectant that at some time, it may be flooded. However, aside from the physical destruction, if a house is at risk of flooding, it may be difficult to get a mortgage, satisfactory building insurance, or sell the property. Steps can be carried out as part of the conveyancing process to forewarn the buyer.
Lawyers are not qualified to impart advice on flood risk, but there are a numerous searches that may be initiated by the buyer or by their solicitors which will figure out the risks in Corbridge. The conventional set of completed inquiry forms supplied to a purchaser’s lawyer (where the Conveyancing Protocol is adopted) includes a usual inquiry of the vendor to discover if the premises has suffered from flooding. If the premises has been flooded in past which is not disclosed by the vendor, then a purchaser could issue a legal claim for losses as a result of such an inaccurate reply. A buyer’s conveyancers should also commission an environmental report. This will indicate whether there is a recorded flood risk. If so, further investigations will need to be made.
four months have elapsed following my purchase conveyancing in Corbridge completed. I have checked the Land Registry site which shows that I paid £150,000 when infact I paid £180,000. Why the discrepancy?
The price paid figure is taken from the application to register the purchase. It is the figure included in the Transfer (the legal deed which transfers the premises from one person to the other) and referred to as the 'consideration' or purchase price. You can report an error in the price paid figure using the LR online form. In most cases errors result from typos so at first glance the figure. Do report it so they can double check and advise.
Yesterday I discovered that there is a flying freehold issue on a house I have offered on two weeks back in what was supposed to be a simple, chain free conveyancing. Corbridge is the location of the property. Can you offer any opinion?
Flying freeholds in Corbridge are rare but are more likely to exist in relation to terraced houses. Even though you don't necessarily need a conveyancing solicitor in Corbridge you must be sure that your lawyer goes through the deeds thoroughly. Your lender may require your conveyancing solicitor to take out an indemnity policy. Some of the more diligent conveyancing solicitors in Corbridge may decide that this is not enough and that the deeds be re-written to give you the most up to date legal protection. If so, the next door neighbour also had to sign up to the revised deeds.It is possible that your lender will not accept the situation so the sooner you find out the better. You should also check with your insurance broker as to whether they will insure a flying freehold premises.
My wife and I purchased a leasehold house in Corbridge. Conveyancing and Nationwide Building Society mortgage organised. I have received a letter from someone saying they have taken over the reversionary interest in the property. It included a demand for arrears of ground rent dating back to 1996. The conveyancing practitioner in Corbridge who acted for me is not around. Any advice?
The first thing you should do is contact HMLR to make sure that this person is in fact the new freeholder. You do not need to incur the fees of a Corbridge conveyancing practitioner to do this as you can do this on the Land Registry website for £3. You should note that regardless, even if this is the legitimate landlord, under the Limitation Act 1980 the limitation period for recovery of ground rent is six years.
I inherited a 2 bed flat in Corbridge, conveyancing was carried out half a dozen years ago. Can you let me have an estimate of the premium that my landlord can legally expect in return for granting a renewal of my lease? Equivalent flats in Corbridge with an extended lease are worth £165,000. The average or mid-range amount of ground rent is £50 invoiced annually. The lease runs out on 21st October 2103
With only 78 years unexpired the likely cost is going to be between £7,600 and £8,800 as well as plus your own and the landlord's "reasonable" professional fees.
The figure above a general guide to costs for renewing a lease, but we cannot give you a more accurate figure in the absence of comprehensive investigations. You should not use the figures in tribunal or court proceedings. There may be additional concerns that need to be taken into account and you obviously should be as accurate as possible in your negotiations. Neither should you move forward based on this information without first seeking the advice of a professional.