Me and my partner are purchasing a 1 bedroom flat in Highnam with a mortgage. We have a Highnam lawyer, but the bank says she’s not on their "panel". We have to appoint one of the bank panel solicitors or continue with our Highnam property lawyer and pay for one of their panel ones to act for them. This seems very unfair; are we not able to require that the bank use our Highnam conveyancer ?
No, not really. Your mortgage offer is subject to its terms and conditions, one of which will be that lawyers will on the lender’s conveyancing panel. Until recently, most lenders had large numbers of law firms on their panels: a borrower could choose one for themselves, as long as it was on the lender's panel. The lender would then simply instruct the borrower's lawyers to act for the lender, too. You can use your lender's panel lawyers or you could borrow from another lender which does not restrict your choice. A further alternative is for your Highnam conveyancing lawyer to apply to be on the conveyancing panel.
Please could you suggest a Lloyds TSB Bank accepted Highnam conveyancing lawyer finish our home move within a very limited time frame? Am I best advised to choose a high street Highnam solicitor or a factory type firm?
We would be happy to suggest some excellent Highnam conveyancing firms. Another option is to visit the high street in Highnam. Approach a couple of firms and request to see a conveyancing solicitor for a fee estimate. Explain your expectations together with the reasons and get an assurance on your deadline. Choose the one that genuine.
I just acquired a flat at auction in Highnam. Conveyancing is needed. What are my next steps?
Given that you have now exchanged you will need to instruct a conveyancing lawyer as a matter of priority as you are faced with a pending a fixed date to complete the transaction. An auction property will have a corresponding legal set of papers. This should include the copy title deeds, local authority and drainage searches. Where you are dealing with leasehold premises the auction pack may include a copy of the lease, management information and a sellers leasehold information form and other conveyancing documentation pertinent to a leasehold property. You must hand this to your appointed conveyancing solicitor as soon as possible. Do make sure that you have funds in place to complete on the on the contractual date .
Is it the case that all Highnam solicitors on the Clydesdale conveyancing panel are regulated by the Solicitors Regulatory Authority?
As solicitors, in order to be on the Clydesdale conveyancing panel they would need to be overseen by the SRA. Many lenders do list licenced conveyancers on their panel and in such a situation the practice would be regulated by the CLC.
I was told two weeks ago that my mortgage has been agreed to by Principality. Is it usual for Principality to only issue the offer once my solicitor in Highnam is approved on their conveyancing panel? Principality have asked my solicitor to see a copy of their PI Insurance.
A lender would not issue a mortgage until they have details of a lawyer on their panel. It can take a few weeks for Principality to deal with your lawyer's application to be on the Principality conveyancing panel. There's no guarantee that your solicitor will be accepted.
Given that I am about to part with £400,000 on 3 bedroom house in Highnam I would like to have a conversation with the lawyer about myconveyancing before appointing the firm. Can this be arranged?
This is something that we recommend - we would be delighted to talk to you we do not take any clients on without you liaising with the conveyancer due to be carrying out your conveyancing in Highnam.There is no ‘factory style conveyancing’ - each client is an important person, not a file number. The solicitors that we put you in touch with believe that the fees you are calculated and presented to you for residential conveyancing in Highnam should be the figure that you end up paying.
Am I better off to appoint a Highnam conveyancing practitioner who is local to the property I am purchasing? I have an old university friend who can deal with the legal formalities however his firm is located 200miles drive away.
The benefit of a high street Highnam conveyancing practice is that you can pop in to sign paperwork, deliver your identification documents and pester them where appropriate. Having local Highnam know how is a benefit. However nothing is more important than finding someone that will pull out all the stops for you. If if people you trust used your friend and the majority were content that should trump using an unfamiliar Highnam conveyancing solicitor solely due to them being Highnam based.
I am looking at a two maisonettes in Highnam which have about 50 years remaining on the lease term. Will this present a problem?
There are plenty of short leases in Highnam. The lease is a right to use the premises for a period of time. As a lease gets shorter the saleability of the lease deteriorates and it becomes more expensive to acquire a lease extension. For this reason it is advisable to extend the lease term. Sometimes it is difficulties arise selling premises with a short lease because mortgage companies may be unwilling to lend money on such properties. Lease enfranchisement can be a difficult process. We advise that you seek professional help from a solicitor and surveyor with experience in this area.
I own a 1 bedroom flat in Highnam, conveyancing was carried out half a dozen years ago. Can you let me have an estimate of the premium that my landlord can legally expect in return for granting a renewal of my lease? Equivalent flats in Highnam with over 90 years remaining are worth £186,000. The ground rent is £55 charged once a year. The lease ends on 21st October 2074
With just 53 years remaining on your lease we estimate the price of your lease extension to span between £27,600 and £31,800 plus plus your own and the landlord's "reasonable" professional fees.
The suggested premium range that we have given is a general guide to costs for renewing a lease, but we cannot give you a more accurate figure without more comprehensive due diligence. You should not use this information in tribunal or court proceedings. There are no doubt additional concerns that need to be taken into account and you obviously want to be as accurate as possible in your negotiations. Neither should you take any other action placing reliance on this information without first getting professional advice.