Is the fact that my solicitor in Didcot is not listed on my mortgage company's conveyancing panel that there is a problem with the quality of the firm’s work?
That would more than likely be a wrong assumption to make. There are all sorts of perfectly reasonable explanations. A recent report by the solicitors regulator revealed 76% 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 Didcot conveyancing firm and enquire why they are no longer on the approved list for your bank.
I used Action Conveyancing several years ago for my conveyancing in Didcot. Now, I need my files but the law firm is no longer operating. What do I do?
You should call the Solicitors Regulatory Authority (SRA) to assist in tracking down 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 Didcot of the conveyancing firm of solicitors you previously instructed, the name of conveyancing solicitor with whom you had dealings, and the date on which you last had dealings with the firm.
About to purchase a new build flat in Didcot. Conveyancing is daunting at the best of times but I have never purchased a new build flat before. Can you give me some examples of some of the questions asked in new build legal work.
Set out below are examples of a few leasehold new build enquiries that you may expect your new-build leasehold conveyancing in Didcot
Forfeiture - bankruptcy or liquidation must not apply under this provision. Will control of the Management Company (if any) be handed over to purchasers on completion of the last sale or earlier? Please supply a car parking plan. Where there is an Undertaking being granted there is the risk of forfeiture of the Headlease subject to relief if one or more of the Underlessees are willing to accept the original Head Lessee’s obligations as otherwise relief will be denied to the Underlessees. The only alternatives are the Head Lessor agreeing not to forfeit the Headlease or the Head Lessee guaranteeing to the Underlessees that it will not be in breach of the Headlease. Will the freehold then be transferred for a nominal consideration (not exceeding £100) to the Management Company?
I have been on the look out for a flat up to £235,500 and found one near me in Didcot I like with amenity areas and station nearby, the downside is that it only has 51 years unexpired on the lease. I can't really find anything else in Didcot in this price bracket, so just wondered if I would be making a grave error acquiring a lease with such few years left?
If you need a home loan the remaining unexpired lease term will likely be an issue. Discount the price by the amount the lease extension will cost if it has not already been discounted. If the existing owner has owned the property for a minimum of 2 years you can ask them to commence the lease extension formalities and then assign it to you. You can add 90 years to the existing lease with a zero ground rent applied. You should consult your conveyancing lawyer about this.
Given that I am about to part with £400,000 on 3 bedroom house in Didcot I would like to talk to a lawyer regarding thetransaction before appointing the firm. Can this be arranged?
This is something that we encourage - we would be delighted to talk to you we do not take any clients on without you speaking to the solicitor who will be carrying out your property ownership legalities in Didcot.There is no ‘factory style conveyancing’ - every client is unique person, not a case reference. The practices that we put you in touch with believe that the fees you are quoted for your conveyancing in Didcot should be the figure that you end up paying.
Our lawyer in Didcot has uncovered a defect with the lease for the apartment we are buying in Didcot. The other side have suggested title insurance as a workaround. We are happy with insurance and will pay for it. Our solicitor says that as he is on the lender conveyancing panel he must ensure that the lender is happy with this solution. Are we the client or is the lender?
The short answer to your last question is that, notwithstanding the potential for a conflict of interest, you and the mortgage company are the client. A precondition to being on the mortgage company approved panel is to comply with the UK Finance Lenders’ Handbook requirements. The UK Finance Lenders’ Handbook conditions require your lawyer to disclose issues such as defects will the lease so that the mortgage company can be afforded the opportunity to check with their valuer as to the extent that the value of the property is affected . Should you refuse to allow your lawyer to make the appropriate notification then your lawyer will have no choice but to discontinue acting for you.