Some advice if I may. My Ferryside lawyer is advising me that she is duty bound toorder Ferryside conveyancing searches stemming from the fact thatthe firm are on the Nat Westapproved lawyer panel. Is my solicitor right?
Unfortunately both you and your lawyer have little choice here. Given that you are taking out a loan with a mortgage company your property lawyer has to comply with their conditions as set out in their version of the CML Conveyancing Handbook. Your property lawyer would have previously signed the Terms and Conditions of your bank’s conveyancing panel appointment which obliges them to follow the Council of Mortgage Lenders’ Handbook specifications . Even if you were a cash buyer you would be ill advised not to carry out Ferryside conveyancing searches.
My grandmother passed away last year and as sole heir and executor I was left the property in Ferryside. The house had a small mortgage remaining of approximately £4500. I want to transfer the title deeds into my name whilst I re-mortgage to Lloyds, pay off the mortgage. Is this allowed?
If you intend to re-mortgage then Lloyds will require that you use a conveyancer on the Lloyds conveyancing panel. Here is link to the Land Registry online guidance around what to do when a property owner dies. This will help you to understand the registration process behind changing the details re the registered title. in your case it would appear that you are effectively purchasing the property from the estate. Your Lloyds conveyancing panel solicitor pays the new mortgage money into the estate, the estate pays off the old mortgage, the charge is released and you become the owner and the Lloyds mortgage is registered as a charge at the Land Registry.
Yesterday I discovered that there is a flying freehold issue on a property I have offered on two weeks back in what should have been a quick, no chain conveyancing. Ferryside is where the house is located. What do you suggest?
Flying freeholds in Ferryside are not the norm but are more likely to exist in relation to terraced houses. Even where you use a solicitor outside Ferryside you would need to get your solicitor to go through the deeds thoroughly. Your mortgage company may require your conveyancing solicitor to take out an indemnity policy. Some of the more diligent conveyancing solicitors in Ferryside 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 property.
Am I right to be wary by 3rd parties that I am dealing with are encouraging me to use an internet conveyancing firm as opposed to a local Ferryside conveyancing company?
As is the case with lots of professional services, often recommendations from connections can be extremely useful or valuable. Yet there are many players in a conveyancing transaction; estate agents, financial adviser and banks might all put forward lawyers to retain. On occasion the conveyancers might be known to one of the organisations as experts in their field, but sometimes there might be a commercial relationship behind the recommendation. You are free to appoint your own lawyer. Don't forget that some lenders specify a panel list of law firms you have to use for the mortgage aspect of your transaction.
What advice can you give us when it comes to finding a Ferryside conveyancing firm to deal with our lease extension?
If you are instructing a conveyancer for your lease extension (regardless if they are a Ferryside conveyancing firm) it is essential that they be familiar with the legislation and specialises in this area of conveyancing. We advise that you talk with two or three firms including non Ferryside 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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How experienced is the firm with lease extension legislation?
I bought a split level flat in Ferryside, conveyancing having been completed in 2009. Can you give me give me an indication of the likely cost of a lease extension? Corresponding properties in Ferryside with an extended lease are worth £186,000. The ground rent is £55 levied per year. The lease runs out on 21st October 2077
With only 52 years remaining on your lease we estimate the price of your lease extension to span between £29,500 and £34,000 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 due diligence. Do not use the figures in a Notice of Claim or as an informal offer. There are no doubt additional concerns that need to be taken into account and clearly you should be as accurate as possible in your negotiations. You should not move forward placing reliance on this information without first getting professional advice.
What do I do if I am dissatisfied with the lawyer who undertook our conveyancing in Ferryside?
Occasionally the level of service you receive is not as you expect, and is is a fact of life that sometimes matters do not go as planned. However there is recourse if you were dissatisfied with your conveyancing in Ferryside. This varies from trying to resolve matters directly with them, through to reporting a property lawyer to their governing body. If things still aren’t sorted out you may consider enlisting the help of the Legal Ombudsman.