Is the fact that my solicitor in Knowle is not listed on my mortgage company's solicitor panel that there is a problem with the quality of the firm’s conveyancing?
It would be unwise to jump to that conclusion. There are plenty of reasonable explanations. Just recently a report by the solicitors regulator indicated 76% of law firms surveyed had been removed from at least one lender panel. The top 5 reasons are as follows: (1) lack 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 Knowle conveyancing practice and ask them why they are no longer on the approved list for your mortgage company.
Would the conveyancing solicitors listed on your site perform attended exchange conveyancing in Knowle?
There are a few conveyancing experts who can conduct 24hr exchanges. Do call us to get a conveyancing quote and details as to dates.
I purchased a freehold property in Knowle but still pay rent, why is this and what is this?
It is rare for properties in Knowle and has limited impact for conveyancing in Knowle but some freehold properties in England (particularly common in North West England) pay an annual sum known as a Chief Rent or a Rentcharge to a third party who has no other legal interest in the land.
Rentcharge payments are usually between £2.00 and £5.00 per year. Rentcharges have existed for many centuries, but the Rent Charge Act 1977 barred the creation of fresh rentcharges from 1977 onwards.
Old rentcharges can now be redeemed by making a one off payment under the Act. Any rentcharges that are still in existence after 2037 will be extinguished.
I am considering applying for a Santander mortgage for purchase of a new build (under development) in Knowle with 70% loan to value. Is it compulsory to choose a solicitor on the conveyancing panel for Santander ?
There is nothing to stop you using your solicitor, but Santander will insist on their interests being represented by a firm on their conveyancing panel. There is much more potential for delays and confusion with two solicitors involved, and it will undoubtedly be more expensive too.
My wife and I are buying a property in Knowle. I might seem paranoid but how we can trust a lawyer? On completion day we have to put our life savings into their account. What protection do 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.
Is it the case that all Knowle solicitor firms on the Kent Reliance conveyancing panel are governed by the SRA?
As a firm of solicitors, in order to be on the Kent Reliance conveyancing panel they would need to be governed by the SRA. The majority of banks do allow licenced conveyancers on their panel in which case such practice would be regulated by the Council of Licensed Conveyancers.
I have instructed a Knowle conveyancer having checked that they are on the HSBC conveyancing panel. Does my lawyer arrange the survey of the property?
HSBC will need an independent valuation of the property. Your lawyer will not arrange this. Usually HSBC 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. Your property lawyer will not organise the survey but they may be able to put you in touch with a local one that they recommend. RICS offers a find a surveyor service (just google it) where you can search for a qualified surveyor by your Knowle postcode. As you are getting a mortgage with HSBC, you could contact them to see if they have a list of approved surveyors in Knowle.
Can you offer any advice when it comes to appointing a Knowle conveyancing firm to carry out our lease extension conveyancing?
If you are instructing a property lawyer for your lease extension (regardless if they are a Knowle conveyancing practice) it is most important that he or she should be familiar with the legislation and specialises in this area of conveyancing. We suggest that you talk with several firms including non Knowle conveyancing practices before you instructing a firm. If the firm is ALEP accredited then so much the better. The following questions could be helpful:
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If the firm is not ALEP accredited then what is the reason? What are the legal fees for lease extension work?
I acquired a studio flat in Knowle, conveyancing having been completed half a dozen years ago. How much will my lease extension cost? Similar properties in Knowle with a long lease are worth £211,000. The average or mid-range amount of ground rent is £45 levied per year. The lease finishes on 21st October 2093
With only 68 years remaining on your lease we estimate the premium for your lease extension to span between £9,500 and £11,000 plus professional fees.
The figure above a general guide to costs for renewing a lease, but we cannot give you the actual costs without more detailed due diligence. You should not use the figures in tribunal or court proceedings. There are no doubt additional concerns that need to be considered and you obviously want to be as accurate as possible in your negotiations. You should not take any other action based on this information before seeking the advice of a professional.