Much to our surprise we have been informed by our financial adviser that my Dursley property lawyer is not on the bank Solicitor panel. How can I be certain that this is indeed the case?
You need to call your Dursley conveyancer. It is reasonable to expect your lawyer to inform you of the situation. If they are not on the panel they may recommend you to a Dursley conveyancing firm that is on the approved list of lawyers for your lender.
We are only a couple days away from an exchange on a property in Dursley and my parents have transferred the ten percent deposit to my conveyancing practitioner. I am now told that as the deposit has not come from me my conveyancer needs to make a notification to my lender. Apparently, in also acting for the lender he must advise them that the balance of the purchase price is coming from anyone other than me. I advised the lender regarding my parents' contribution when I applied for the mortgage, so is it really necessary for him to raise this?
Your solicitor is obliged to clarify with the bank to ensure that they are aware that the balance of the purchase price is not from your own funds. The solicitor can only notify this to your mortgage company if you agree, failing which, your lawyer must cease to continue acting.
My wife and I are in the throws of looking at houses in Dursley and I am now considering a potential offer. Is it advisable to have a conveyancing practitioner on ‘stand by’? I will be getting a mortgage with Bank of Ireland.
It would be wise to instigate your search sooner rather than later. After you have chosen your lawyer and once your offer is accepted you can instruct them to work for you and forward their details on to the EA. As you are obtaining a mortgage with Bank of Ireland, ask your prospective lawyers if they are on the Bank of Ireland conveyancing panel otherwise they can't do the mortgage legal work.
I can not work out if my mortgage offer obliges me to make sure the lease term for the flat is extended prior to the completion date. I have called into my local Dursley bank branch on a couple of occasions and was told they are content with the situation and they would lend. My Dursley conveyancing solicitor - who is on the lender conveyancing panel- called and was told they refuse to lend in accordance with their published requirements. Who do I believe?
As long as the conveyancing practitioner is on the bank panel, they must comply with the CML Handbook provisions for the bank. Unless your lawyer obtains specific confirmation in writing that the mortgage company will go ahead, your lawyer has no choice but to refrain from exchanging contract and committing you to the purchase. We would suggest that you ask the mortgage company to contact your lawyer in writing confirming that they will accept the number of years left on the lease.
I am selling my flat. I had a double glazing fitted in April 2007, but did not receive a FENSA certificate or Building Regulation Certificate. My buyer's lender, Leeds Building Society are being problematic. The Dursley solicitor who is on the Leeds Building Society conveyancing panel is saying indemnity insurance will be fine but Leeds Building Society are insisting on a building regulation certificate. Why do Leeds Building Society have a conveyancing panel if they don't accept advice from them?
It is probably the case that Leeds Building Society have referred the matter to their valuer. The reason why Leeds Building Society 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.
In my capacity as executor for the estate of my grandmother I am selling a house in Monmouth but I am based in Dursley. My lawyer (who is 200 kilometers awayhas requested that I execute a statutory declaration ahead of completion. Can you recommend a conveyancing practitioner in Dursley who can witness this legal document for me?
strictly speaking you are not likely to be required to have the documents attested by a conveyancing solicitor. Ordinarily or notary public or solicitor will be fine regardless of whether they are Dursley based
Are there common problems that you witness in leases for Dursley properties?
Leasehold conveyancing in Dursley is not unique. All leases are unique and legal mistakes in the legal wording can result in certain provisions are not included. For example, if your lease is missing any of the following, it could be defective:
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A provision to repair to or maintain parts of the property Clauses dealing with recovering service charges for expenditure on the building or common parts.
You could have difficulties when selling your property if you have a defective lease primarily because it impacts on the ability to obtain a mortgage on the property. Santander, Skipton Building Society, and Bank of Ireland all have very detailed conveyancing instructions when it comes to what is expected in a lease. If a mortgage lender believes that the lease is defective they may refuse to grant the mortgage, obliging the buyer to withdraw.
I own a studio flat in Dursley, conveyancing having been completed in 2012. Can you shed any light on how much the price could be for a 90 year extension to my lease? Equivalent flats in Dursley with a long lease are worth £195,000. The average or mid-range amount of ground rent is £45 invoiced every year. The lease expires on 21st October 2088
With 63 years unexpired we estimate the premium for your lease extension to be between £16,200 and £18,600 as well as professional fees.
The figure above a general guide to costs for renewing a lease, but we are not able to provide a more accurate figure without more detailed investigations. You should not use this information in a Notice of Claim or as an informal offer. There may be other issues that need to be considered and you obviously should be as accurate as possible in your negotiations. Please do not move forward placing reliance on this information before seeking the advice of a professional.
I need to change lawyers as my Dursley lawyer is not on the lender's approved list of conveyancing solicitors. How simple is it to change conveyancer?
If you haven't yet appointed a solicitor to start work and at this stage simply received quotes, you're perfectly free to choose a different solicitor to carry out your work for you. The best way is to get recommendations from friends or family who have actually used the solicitor or conveyancer in Dursley that you're thinking of instructing.