I can't travel far from Hassocks. What is the rationale as to why all Hassocks property lawyers aren't included on all bank panels?
Before the recession most banks displayed an approach to risk which differs from the current day. The Financial Services Authority in 2010 instigated a thematic review into fraud which in summary warned lenders: know the conveyancing practitioners on your panel. Accordingly, banks have subsequently requiredmore data from law firms about their operations and the individuals who work for them and set certain criteria such as completing a minimum number of transactions. Hundreds of law practices have found themselves excluded from lender panels even though they had an exemplary disciplinary record, no complaints and no claims and didn't just 'dabble' in conveyancing. Many firms found it impossible meet the minimum volume of transactions the lenders required.
I am in a contract race with another buyer for a property in Hassocks. What can I do to expedite matters?
First, If you are under time constraints for your conveyancing we would recommend that your solicitor is familiar with the location as they will benefit local relationships and insight. It is even conceivable that they could have transacted previoushouses in the same street. Therefore consider using a Hassocks conveyancing lawyer. Second, be sure that the conveyancing firm is on the lender panel. It is believed that 18% of Hassocks conveyancing transactions are frustrated or derailed after finding out that a purchaser’s lawyer was not on their mortgage lender’s panel. This can often result in the home move being delayed by an average of 21 days. It is understood that this issue impacts approximately one hundred thousand home moves every year. Many Hassocks conveyancing firms can not represent certain banks so do check as early as possible.
Does a directory service exist listing Virgin Money panel conveyancers in Hassocks on the UK Finance Lenders’ Handbook Website?
Unfortunately not yet. There is no such facility on the CML or Building Society Association websites. Very few lending institutions make their panel listings available on the web. Where you are looking for a Hassocks solicitor on the Virgin Money please use our tool.
Two weeks ago we had a mortgage agreed in principle with Lloyds. Hassocks conveyancing lawyers were chosen. What is the average time that one could expect to receive a mortgage offer from Lloyds?
Some lenders take longer than others. Have Lloyds conducted the valuation? Have you informed Lloyds as to your lawyers' details and checked that your lawyers are on the Lloyds conveyancing panel? It is not unusual for a mortgage offer to take a month to come through.
I have decided to exercise my right to buy my property in Hassocks off the council. I have a mortgage agreed with TSB. Conveyancing is new to me. Can I proceed without a solicitor easily? I think we can but we keep being told I should use 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 TSB, you will need to appoint a solicitor on the TSB conveyancing panel.
My colleague suggested that if I am buying in Hassocks I should carry out a Neighbourhood, Planning and Local Amenity Search. Can you explain what the purpose of this search is?
A search of this type is sometimes included in the estimate for your Hassocks conveyancing searches. It is not a small report of more than thirty pages, listing and detailing significant information about Hassocks around the property and the people living there. It includes an Aerial Photograph, Planning Applications, Land Use, Mobile Phone Masts, Rights of Way, the Hassocks Housing Market, Council Tax Banding, the demographics of People living in the area, the dominant type of Housing, the Average House Prices, Crime statistics, Hassocks Education with maps and statistics, Local Amenities and other useful data about Hassocks.
Should I be concerned about brokers that I am dealing with are recommending an online conveyancing firm as opposed to a High Street Hassocks conveyancing company?
As is the case with many service providers, often recommendations from family and friends can be worth their weight in gold. Yet there are many players in a conveyancing matter; estate agents, financial adviser and banks might all put forward conveyancers to select. On occasion the lawyers might be known to one of the organisations as one of the best in their field, but sometimes there may be a commercial relationship behind the recommendation. You are at liberty to select your own conveyancer. Don't forget that many banks specify a panel list of law firms you have to use for the mortgage aspect of your transaction.
I only have Fifty years left on my lease in Hassocks. I now want to get lease extension but my landlord is can not be found. What options are available to me?
On the basis that you qualify, under the Leasehold Reform, Housing and Urban Development Act 1993 you can apply to the County Court for for permission to dispense with the service of the initial notice. This will mean that your lease can be granted an extra 90 years by the Court. However, you will be required to demonstrate that you have made all reasonable attempts to track down the freeholder. For most situations an enquiry agent should be useful to conduct investigations and prepare a report which can be used as evidence that the landlord is indeed missing. It is wise to seek advice from a solicitor both on investigating the landlord’s absence and the vesting order request to the County Court covering Hassocks.
I inherited a 1 bedroom flat in Hassocks, conveyancing was carried out April 2003. Can you shed any light on how much the price could be for a 90 year extension to my lease? Corresponding properties in Hassocks with a long lease are worth £185,000. The average or mid-range amount of ground rent is £65 invoiced annually. The lease comes to an end on 21st October 2085
With just 60 years left to run the likely cost is going to be between £20,000 and £23,000 plus 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 the actual costs in the absence of detailed due diligence. You should not use the figures in a Notice of Claim or as an informal offer. There are no doubt additional concerns that need to be considered and you obviously want to be as accurate as possible in your negotiations. Neither should you move forward placing reliance on this information without first getting professional advice.