Am I correct in assuming that the fact that my solicitor in Huntingdon is not on my lender's solicitor panel that there is a problem with the quality of the firm’s work?
That would most likely be a wrong assumption to make. There are plenty of plausible explanations. Just recently a report by the solicitors regulator revealed 76% of law firms surveyed had been removed from at least one lender panel. The most common reasons for removal are: (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 simply call the Huntingdon conveyancing firm and enquire why they are no longer on the approved list for your lender.
Do the Building Society Association intend to launch a online directory to list practices on the Norwich and Peterborough Building Society conveyancing panel for example in Huntingdon?
Lexsure has not been advised of any plans on the part of the BSA to promote such a tool.
Me and my partner are buying a property in Huntingdon. It might be a silly question but how we can trust a lawyer? At some point we will need to put funds into their account. What is the protection we have from them run away with our monies?
Be assured that all money in a Solicitors client account is 100% safe, and even if your Solicitor ran off with it, the Law Society would reimburse you fully.
Forgive me if this question is silly but I am wet behind the ears as FTB of a two bedroom flat in Huntingdon. Do I collect the keys to the premises on the completion date from my solicitor? If so, I will use a local conveyancing solicitor in Huntingdon?
There is no need to visit the lawyers office on the day of completion. Your solicitors will arrange to send the purchase money to the seller's conveyancers, and once they have received this, you will be invited to receive the keys from the property Agents and start moving into the property. Usually this occurs between 1 and 3pm.
I happen to be the single beneficiary of my late grandmother’s will with all property in now in my sole name, including the house in Huntingdon. Conveyancing formalities meant that the Land Registry date was in March. I want to move. I understand that there is a Mortgage Lenders 6 month 'rule', meaning my property ownership will be treated the same way as if I'd bought the house in March. Will no one buy the property for half a year?
The CML handbook requires conveyancers to: "report to us immediately if the owner or registered proprietor has been registered for less than six months." Technically you may be affected by that. How practical a view banks take of it, depend on the lender as this clause is principally there to identify the purchase and immediately sell or the wholesaling and assigning of property.
I've recently found out that there is a flying freehold element on a house I put an offer in last month in what was supposed to be a quick, no chain conveyancing. Huntingdon is the location of the property. Can you shed any light on this issue?
Flying freeholds in Huntingdon are unusual but are more likely to exist in relation to terraced houses. Even where you use a solicitor outside Huntingdon you must be sure that your lawyer goes through the deeds diligently. Your mortgage company may require your conveyancing solicitor to take out an indemnity policy. Some of the more diligent conveyancing solicitors in Huntingdon may ascertain 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.
Should I choose a Huntingdon conveyancing solicitor based in the location that I am purchasing? An old friend can handle the legal work however they are based 200kilometers drive away.
The primary upside of using a local Huntingdon conveyancing practice is that you can visit the firm to sign documents, deliver your ID and apply pressure on them if necessary. Having local Huntingdon know how is a plus. That being said it's more important to get someone that will do a good and efficient job. If other friends have instructed your friend and they were happy that should surpass using an unfamiliar Huntingdon conveyancing solicitor just because they are Huntingdon based.
I am intending to sublet my leasehold apartment in Huntingdon. Conveyancing solicitor who did the purchase is retired - so can't ask him. Do I need to ask my freeholder for their consent?
A small minority of properties in Huntingdon do contain a provision to say that subletting is only permitted with prior consent from the landlord. The landlord cannot unreasonably withhold but, in such cases, they would need to review references. Experience dictates that problems are usually caused by unsatisfactory tenants rather than owner-occupiers and for that reason you can expect the freeholder to take up the references and consider them carefully before granting permission.
I bought a studio flat in Huntingdon, conveyancing formalities finalised August 2007. Can you please calculate a probable premium for a statutory lease extension? Similar properties in Huntingdon with a long lease are worth £165,000. The average or mid-range amount of ground rent is £50 yearly. The lease expires on 21st October 2103
With just 77 years left to run the likely cost is going to span between £7,600 and £8,800 as well as professional fees.
The suggested premium range above a general guide to costs for extending a lease, but we cannot give you a more accurate figure in the absence of comprehensive investigations. You should not use this information in tribunal or court proceedings. There may be additional concerns that need to be taken into account and you obviously should be as accurate as possible in your negotiations. Please do not take any other action placing reliance on this information without first getting professional advice.