Unfortunately I am unable to travel far from Exeter. Is there a reason why all Exeter solicitors aren't automatically on all bank panels?
Lenders normally impose restrictions on either the nature or the number of conveyancing firms on their approved list of lawyers. A common example of such criteria being that the organisation must have two or more partners. As well as restricting the structure of firm, some banks decided to restrict the number of firms they allow to act for them. It is worth noting that banks have no liability for the accuracy of advice provided by any Exeter solicitor on their panel. Increases in mortgage fraud was the primary trigger for the rationalisation of conveyancing panels a few years ago even though there are conflicting thoughts about the extent of solicitor involvement in some of that fraud. Data from the Land Registry indicates that thousands of conveyancing firms only conduct one or two conveyances a year. Those supporting conveyancing panel pruning ask why conveyancing firms deserve claim to remain on a conveyancing panel when it is evident that property law is not their primary expertise?
Is there a reason why leasehold purchase conveyancing in Exeter is more expensive?
Exeter leasehold conveyancing transactions usually involve additional investigations than freeholds including investigating the Lease, liaising with the Landlord such as serving appropriate notices on the Landlord or managing agent, obtaining up-to-date service charge and management information, obtaining Landlord’s consents and reviewing management accounts and formation documents.
Does a directory service exist listing Aldermore panel solicitors in Exeter on the Council of Mortgage Lender’s Website?
Unfortunately not yet. There is no such facility on the CML or Building Society Association websites. A small selection of lenders make their panel listings available over the internet. Where you are seeking to appoint a Exeter property lawyer on the Aldermore please make the most of our facility.
I am currently in the process of buying my council flat in Exeter. I have a mortgage agreed with Principality. Conveyancing is not something I have any knowledge of. Can I proceed without a solicitor easily? I think we can but we keep being told I should have one. Any advice?
It is not advisable to proceed with a house purchase without a solicitor. The council's solicitor are not acting for you. You need a solicitor for a number reasons. One of which is to verify what plans the Council have for repairs and refurbishment for the next five years. Many leaseholders have been stung for contributions of thousands of pounds. In any event, if you are getting a mortgage with Principality, you will need to appoint a solicitor on the Principality conveyancing panel.
I have instructed a Exeter conveyancing practitioner having made sure that they are on the Nottingham conveyancing panel. Does my lawyer arrange the survey of the property?
Nottingham will need an independent valuation of the property. Your lawyer will not arrange this. Usually Nottingham 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. Your conveyancing practitioner will not organise the survey but they may be able to put you in touch with a local one that they recommend. RICS offers a find a surveyor service (just google it) where you can search for a qualified surveyor by your Exeter postcode. As you are getting a mortgage with Nottingham, you could contact them to see if they have a list of approved surveyors in Exeter.
Are there restrictive covenants that are commonly identified as part of conveyancing in Exeter?
Covenants that are restrictive in nature can be picked up when reviewing land registry title as part of the process of conveyancing in Exeter. An 1874 stipulation that was seen was ‘The houses to be erected on the estate are each to be of a uniform elevation in accordance with the drawings to be prepared or approved by the vendor’s surveyor…’
Can you offer any advice when it comes to choosing a Exeter conveyancing practice to deal with our lease extension?
When appointing a solicitor for lease extension works (regardless if they are a Exeter conveyancing firm) it is imperative that he or she should be familiar with the legislation and specialises in this area of work. We advise that you speak with several firms including non Exeter conveyancing practices before you instructing a firm. If the firm is ALEP accredited then that’s a bonus. The following questions might be helpful:
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What are the costs for lease extension conveyancing?
I am the registered owner of a studio flat in Exeter, conveyancing was carried out in 1995. Can you let me have an estimated range of the fair premium for a lease extension? Equivalent properties in Exeter with over 90 years remaining are worth £265,000. The ground rent is £50 charged once a year. The lease finishes on 21st October 2101
With 76 years left to run we estimate the price of your lease extension to span between £8,600 and £9,800 plus costs.
The suggested premium range above a general guide to costs for extending a lease, but we are not able to advice on the actual costs without more comprehensive due diligence. You should not use this information 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. Please do not move forward placing reliance on this information before getting professional advice.
Why do Exeter conveyancing charges are more expensive for leasehold and freehold properties?
When buying a leasehold property there is more work involved purely due to the fact that usually there are further parties involved in the form of the freeholder and/or Management Agents. As part of a lawyers enquiries they will check that all ground rent and service charges are paid up to date amongst other general leasehold matters. For this reason, the Sellers lawyers usually have to refer to the freeholder or Managing Agent for their replies to our questions. This may be time consuming and beyond the lawyers control