Am I correct in assuming that the fact that my conveyancer in Gedling is not on my mortgage company's solicitor panel that there is a problem with the quality of her work?
It would not be wise to jump to that conclusion. There are all sorts of perfectly reasonable explanations. A recent report by the solicitors regulator revealed 76% of law firms surveyed had been removed from at least one lender panel. The top 5 reasons are as follows: (1) low volume of transactions (2) the solicitor is a sole practitioner (3) as part of the HSBC panel reduction (4) regulatory contact by SRA (5) accidental removal. Should you be concerned you should contact the Gedling conveyancing practice and ask them why they are no longer on the approved list for your bank.
Are all Gedling Conveyancing Quality Solicitors on the Co-operative conveyancing panel?
A selection of banks and building societies now use the accreditation scheme as the kick off point for Panel approval such as HSBC and Santander. CQS accreditation however gives no guarantee to lender panel acceptance. That being said,the Council of Mortgage Lenders have indicated that it is likely to become a pre-requisite for solicitor practices wishing to join their panels.
Can I be sure that the Gedling conveyancing solicitor on the RBS panel is any good?
When it comes to conveyancing in Gedling obtaining recommendations is a good starting point. Before you go ahead, check if they offer a no sale no fee offer. Also, you often get what you pay for - a firm which quotes more, will often provide a better service than one advertising the lowest fees. We would always advocate that you speak with the lawyer carrying out your transaction.
I have instructed a Gedling 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 Gedling 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.
I am buying a new build house in Gedling benefiting from help to buy. The sellers would not reduce the price so I negotiated five thousand pounds worth of fixtures and fittings instead. The sale representative advised me not disclose to my solicitor about this extras as it may put at risk my loan with the bank. Do I keep my lawyer in the dark?.
All lenders require a Disclosure of Incentives Form from the developer of any new build, converted or renovated property, It is available online from the Lenders’ Handbook page on the CML website. CML form is completed and handed to the lender's surveyor when the inspection is done.
Lenders have different policies on incentives. Some accept none at all, cash or physical, while others will accept cash incentives up to 5%.
Hard to understand why the representative of a builder would be suggesting you withold information from a solicitor when all this will be clearly visible on forms the builder has to supply to its solicitor, the buyer's solicitor and the surveyor.
My partner has urged me to instruct his lawyers for conveyancing in Gedling. Should I use them?
There are no two ways about it it’s preferable to choose a conveyancing solicitor is to have guidance from friends or relatives who have actually experience in using the conveyancer you're are thinking of instructing.
I work for a reputable estate agent office in Gedling where we see a few leasehold sales put at risk as a result of leases having less than 80 years remaining. I have received inconsistent advice from local Gedling conveyancing solicitors. Could you shed some light as to whether the seller of a flat can commence the lease extension formalities for the purchaser on completion of the sale?
As long as the seller has owned the lease for at least 2 years it is possible, to serve a Section 42 notice to start the lease extension process and assign the benefit of the notice to the purchaser. The benefit of this is that the buyer 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 simultaneously with completion of the disposal of the property.
An alternative approach is to agree the lease extension with the freeholder 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 am the registered owner of a 1 bedroom flat in Gedling, conveyancing having been completed September 2000. How much will my lease extension cost? Corresponding flats in Gedling with over 90 years remaining are worth £197,000. The average or mid-range amount of ground rent is £55 per annum. The lease ends on 21st October 2080
With only 55 years unexpired we estimate the price of your lease extension to span between £31,400 and £36,200 as well as plus your own and the landlord's "reasonable" professional fees.
The figure that we have given is a general guide to costs for extending a lease, but we are not able to supply a more accurate figure without more comprehensive due diligence. Do not use the figures in tribunal or court proceedings. There may be other issues that need to be considered and clearly you should be as accurate as possible in your negotiations. You should not take any other action placing reliance on this information before getting professional advice.
How do I search for a Gedling conveyancing solicitor on the bank conveyancing panel? I have a car and am prepared to travel up to 10kilometers to attend the solicitor.
You can use the find a conveyancing panel search on this website. Please choose the lender and your location, in this case Gedling and you will see a number of lawyer located nearest Gedling. Alternatively you can type in the name of your proposed law firm and see if they are listed as being on the bank solicitor panel.