I am purchasing a terraced house in Fulwell. Conveyancing solicitors are said to be ‘a necessary evil’ but can I do it myself?
Leaving aside the complexities and merits of DIY conveyancing in Fulwell you will have to appoint a solicitor on your mortgage company's conveyancing panel to look after their interests. Most people therefore find it easier to let the solicitor act for them and the lender. Furthermore there is minimal cost savings to be made in you doing conveyancing for yourself and another lawyer conducting the conveyancing for the lender. Please feel free to use the search tool to find a lawyer on your lender panel in Fulwell.
Is it the case that all Fulwell solicitors on the Virgin Money conveyancing panel are regulated by the Solicitors Regulatory Authority?
As solicitors, in order to be on the Virgin Money conveyancing panel they would need to be governed by the Solicitors Regulatory Authority. Many banks do permit licenced conveyancers on their panel in which case such organisation would be regulated by the CLC.
We had appointed solicitors with offices in Fulwell on the Santander solicitor approved list. They have just billed me a supplemental charge for the legal aspects of the Santander mortgage. Is this an additional conveyancing fee set by Santander?
Unfortunately, as long as it is in their Terms of Engagement or estimate then yes your conveyancer is entitled to charge a fee for this. This fee is not set by Santander but by your Fulwell property lawyer. Some firms on the Santander panel will charge an ‘acting for lender’ fee but many firms incorporate it on their overall fee.
Lloyds have agreed my home loan in principle, my offer on a property in Fulwell has been agreed to, what happens next?
The property agent will want to know who your solicitors are (make sure the property lawyers are on the bank’s approved list). Telephone Lloyds or your financial adviser and finalise any relevant documentation. Lloyds will appoint a valuer who will get in contact with the estate agent or vendor to arrange a slot for the valuation to happen. Once conducted (assuming no problems) it takes about ten days to get a mortgage offer. Lloyds will send the offer to you and your conveyancing practitioners. The legal work will then take it’s course according the nature and complexity of the conveyancing in Fulwell.
I am intent on selling our property in Fulwell and the buyers lawyers are claiming that there is a possibility that the property was constructed land that was not decontaminated. Any local conveyancer would know that there is no such problem. For the life of me I don't know why the buyers instructed a web based conveyancing practice rather than a conveyancing solicitor in Fulwell. We have lived in Fulwell for many years we know of no issue. Should we contact our local Authority to obtain clarification need.
It sounds as though you may have a conveyancing firm already. What do they say? You need to check with your lawyer before you do anything. It is very possible that once the local authority has been informed of a potential issue it cannot be insured against (a bit like being diagnosed with a serious illness and then taking out health insurance to cover that same sickness)
How does conveyancing in Fulwell differ for newly converted properties?
Most buyers of new build property in Fulwell approach us having been asked by the housebuilder to exchange contracts and commit to the purchase even before the premises is completed. This is because house builders in Fulwell tend to buy the site, plan the estate and want to get the plots sold off as they are building the properties. Buyers, therefore, will have to exchange contracts without actually seeing the house they are buying. To reduce the chances of losing the property, buyers should instruct conveyancing solicitors as soon as the property is reserved and mortgage applications should be submitted quickly. Due to the fact that it could be several months and even years between exchange of contracts and completion, the mortgage offer may need to be extended. It would be wise to use a lawyer who specialises in new build conveyancing especially if they are used to new build conveyancing in Fulwell or who has acted in the same development.
I need to instruct a conveyancing solicitor for my conveyancing in Fulwell. I happened to discover a site which seems to have the ideal solution If there is a chance to get all the legals completed via email that would be ideal. Should I be concerned? What are the potential pitfalls?
As usual with these online conveyancers you need to read ALL the small print - did you notice the extra charge for dealing with the mortgage?
After years of correspondence we cannot agree with our landlord on how much the lease extension should cost for our flat in Fulwell. Can we issue an application to the Residential Property Tribunal Service?
Where there is a missing freeholder or if there is disagreement about what the lease extension should cost, under the relevant legislation you can apply to the Leasehold Valuation Tribunal to decide the sum to be paid.
An example of a Lease Extension matter before the tribunal for a Fulwell flat is Ground Floor Flat 91 Bath Road in May 2009. in a case where the freeholder could not be traced, the Brentford County Court ordered that the Lease be surrendered in return for the grant of a new lease of the Premises at a premium determined by the Leasehold Valuation Tribunal. The tribunal concluded that the price payable by the Applicant for the new lease of the premises be £15,900 This case was in relation to 1 flat. The remaining number of years on the lease was 60.45 years.
What makes a Fulwell lease problematic?
There is nothing unique about leasehold conveyancing in Fulwell. Most leases are individual and drafting errors can result in certain provisions are erroneous. For example, if your lease is missing any of the following, it could be defective:
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Maintenance charge proportions which don’t add up to the correct percentage Repairing obligations to or maintain elements of the building
You may have difficulties when selling your property if you have a defective lease as they can affect a potential buyer’s ability to obtain a mortgage. National Westminster Bank, Bank of Scotland, and Clydesdale 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 problematic they may refuse to provide security, obliging the buyer to pull out.