I had intended to instruct a conveyancing solicitor in Erdington for our house purchase. Our financial adviser has since advised us that our bank Chelsea Building Society won't deal with them. Surely this is unduly restrictive?
Lenders ordinarily imposes restrictions either the category or the volume of conveyancing solicitors on their approved list of lawyers. A common example of such restriction(s) being that a firm must have two or more partners. As well as restricting the type of firm, some have reduced the amount of firms they use to act for them. Be aware that Chelsea Building Society have no responsibility for the quality of advice provided by any member of Chelsea Building Society Conveyancer Panel. Mortgage fraud was a primary driver in the rationalisation of solicitor panels since 2008 even though there are differing opinions regarding the extent of solicitor involvement in some of that fraud. Figures from the Land Registry indicate that hundreds of law firms, including some in or near Erdington only carry out very few conveyances per annum.
We are aiming to move house in June. Will my conveyancing solicitor call the removal company on the completion day. As an aside, can you recommend a removal company in Erdington. Conveyancing solicitor was found prior to coming across your site.
On the afternoon of completion you will need to collect the keys from your property agent however this should only happen after the vendors conveyancers confirm to the agent that they have the completion monies and the keys can be given over. After that you will need to advise the removal company that you are ready to move in. We do not recommend a particular removal company but can help you locate a conveyancing in Erdington or a legal practice with expertise in conveyancing in Erdington.
We previously instructed conveyancers with offices in Erdington on the Virgin Money solicitor approved list. They have just billed me a further sum for handling the Virgin Money mortgage. Is this a supplemental conveyancing fee specified by Virgin Money?
Unfortunately, as long as it is in their Terms and Conditions or Quote then yes your property lawyer can levy a fee for this. This charge is not dictated by Virgin Money but by your Erdington solicitor. Some firms on the Virgin Money panel will levy an ‘acting for lender’ fee and others do not.
I have instructed a Erdington conveyancing practitioner having checked that they are on the Kent Reliance conveyancing panel. Does my lawyer arrange the survey of the property?
Kent Reliance will need an independent valuation of the property. Your lawyer will not arrange this. Usually Kent Reliance will appoint their own surveyor to do this, and you will have to pay for it. Remember that this is a valuation for mortgage purposes and not a survey. You may wish to consider appointing your own Erdington surveyor to carry out a survey or prepare a home buyers report on the property. It is up to you to satisfy yourself that the property is structurally sound before you buy it. If the survey or report reveals that building work is needed, you should tell your solicitor. You may wish to renegotiate with the seller.
Will our lawyer be raising enquiries concerning flooding as part of the conveyancing in Erdington.
The risk of flooding is if increasing concern for solicitors dealing with homes in Erdington. There are those who acquire a property in Erdington, fully aware that at some time, it may suffer from flooding. However, leaving to one side the physical destruction, where a house is at risk of flooding, it may be difficult to obtain a mortgage, adequate building insurance, or sell the premises. There are steps that can be taken during the course of a property purchase to forewarn the buyer.
Conveyancers are not best placed to give advice on flood risk, but there are a number of checks that can be carried out by the purchaser or by their lawyers which should give them a better appreciation of the risks in Erdington. The standard information supplied to a buyer’s conveyancer (where the Conveyancing Protocol is adopted) contains a usual question of the vendor to determine if the property has ever been flooded. If flooding has previously occurred which is not disclosed by the vendor, then a purchaser may issue a legal claim for losses as a result of such an misleading answer. The buyer’s solicitors should also order an environmental search. This will indicate whether there is any known flood risk. If so, further investigations should be made.
I have been on the look out for a ground for flat up to £235,500 and identified one close by in Erdington I like with a park and transport links nearby, the downside is that it only has 51 remaining years left on the lease. There is not much else in Erdington for this price, so just wondered if I would be making a mistake acquiring a lease with such few years left?
If you need a home loan the remaining unexpired lease term will be problematic. Discount the price by the anticipated lease extension will cost if not already taken into account. If the current proprietor has owned the premises for at least twenty four months you may request that they commence the lease extension formalities and pass it to you. You can add 90 years to the existing lease term and have £0 ground rent by law. You should speak to your conveyancing solicitor concerning this matter.
Are there any apps to assist me to search for a Erdington law firm on the Birmingham Midshires conveyancing panel? I am a keen cyclist and am prepared to travel upto 25kilometers to meet the lawyer.
You can use the search on this page. Please pick a lender and your location and you will see a number of Erdington conveyancing lawyers based on proximity. We have detailed some Erdington conveyancing firms at the bottom of this page and you can call them to check whether they are on the Birmingham Midshires approved list
I am employed by a reputable estate agent office in Erdington where we have experienced a number of leasehold sales jeopardised as a result of short leases. I have been given conflicting advice from local Erdington conveyancing solicitors. Can you shed some light as to whether the seller of a flat can instigate the lease extension formalities for the buyer?
Provided that the seller has been the owner for at least 2 years it is possible, to serve a Section 42 notice to commence the lease extension process and assign the benefit of the notice to the purchaser. This means that the proposed purchaser need not have to sit tight for 2 years for a lease extension. Both sets of lawyers will agree to form of assignment. The assignment needs to be completed before, or at the same time as completion of the disposal of the property.
Alternatively, it may be possible to extend the lease informally by agreement with the landlord either before or after the sale. If you are informally negotiating there are no rules and so you cannot insist on the landlord agreeing to grant an extension or transferring the benefit of an agreement to the buyer.
I inherited a 2 bed flat in Erdington, conveyancing formalities finalised August 2002. Can you let me have an estimated range of the fair premium for a lease extension? Corresponding flats in Erdington with a long lease are worth £222,000. The ground rent is £50 invoiced annually. The lease comes to an end on 21st October 2096
With 70 years remaining on your lease we estimate the premium for your lease extension to span between £9,500 and £11,000 plus plus your own and the landlord's "reasonable" professional fees.
The suggested premium range above a general guide to costs for extending a lease, but we are not able to provide the actual costs without more detailed due diligence. You should not use this information in a Notice of Claim or as an informal offer. There are no doubt other concerns that need to be considered and clearly you 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.