Having sold my house in Langford last March yet the purchaser is e-mailing me to moan that his lawyer needs to hear from myconveyancer. What should have happened now that I have sold?
After completion of your house sale your lawyer should deliver the transfer documentation and all supplemental paperwork to the buyer’s lawyers. If applicable, your conveyancer should also confirm that the mortgage has been discharged to the purchasers lawyers. There are no post completion steps peculiar conveyancing in Langford.
I had intended to instruct a property lawyer in Langford for our home move. Our broker has since notified us that our bank Nottingham Building Society won't deal with them. Why is this not regarded as unfair competition?
Banks tend to restrict either the category or the number of conveyancing practices on their panel. A common example of such restriction(s) being that a firm must not be a sole practitioner. In addition to restricting the profile of firm, a few banks have reduced the number of firms they permit to act for them. Be aware that Nottingham Building Society have no responsibility for the quality of advice provided by any member of Nottingham Building Society Conveyancer Panel. Mortgage fraud was a key driver in the rationalisation of solicitor panels a few years ago even though there remains differing opinions concerning the extent of solicitor engagement in some of that fraud. Statistics from the Land Registry reveal that hundreds of law firms, including some in or near Langford only carry out one or two conveyances a year.
Can you point me to a directory of Santander panel conveyancers in Langford on the UK Finance Lenders’ Handbook Website?
Unfortunately not yet. There is no such tool on the Council of Mortgage Lenders or Building Society Association websites. A small selection of mortgage companies make their panel listings open the public over the internet. If you are looking for a Langford solicitor on the Santander please make the most of our facility.
Is it the case that all Langford conveyancing solicitors on the Co-operative conveyancing panel are regulated by the Solicitors Regulatory Authority?
As solicitors, in order to be on the Co-operative approved list of solicitors they would need to be governed by the Solicitors Regulatory Authority. Some mortgage companies do allow licenced conveyancers on their panel in which case such firms would be regulated by the CLC.
I have a mortgage with Bank of Ireland for my property in Langford. Conveyancing was finalised a year ago. In the event that I decide to rent out my property and do not currently have a buy-to-let mortgage do I need to remortgage to a buy-to-let mortgage or inform Bank of Ireland?
Bank of Ireland must be informed of your intention in advance of renting your property as this is likely to be a breach of Bank of Ireland’s mortgage conditions. In many cases banks or building societies will permit you to let out your former home without needing to switch to a buy-to-let mortgage but some lenders will add a surcharge to your mortgage rate to reflect the higher risk. You should contact Bank of Ireland directly. You need not do this via a Bank of Ireland conveyancing panel firm.
Is it necessary to take out insurance to address the risk of chancel repairs when acquiring a house in Langford?
Unless a previous acquisition of the house completed after 12 October 2013 you may assume that solicitors handling conveyancing in Langford to remain recommending a chancel search and or chancel repair liability insurance.
The deeds to my property can not be found. The conveyancers who did the conveyancing in Langford 10 years ago are no longer around. Will I be able to sell the house?
You no longer need to have the physical deeds to prove you are the registered proprietor of land or property, given that the Land Registry hold details of all registered land or property electronically.
I am employed by a busy estate agent office in Langford where we have experienced a number of leasehold sales derailed as a result of short leases. I have received contradictory information from local Langford conveyancing firms. Can you clarify whether the owner of a flat can instigate the lease extension process for the buyer?
As long as the seller has been the owner for at least 2 years it is possible, to serve a Section 42 notice to commence the lease extension process and assign the benefit of the notice to the purchaser. This means that the buyer can avoid having to wait 2 years to extend their lease. Both sets of lawyers will agree to form of assignment. The assignment has to be done before, or at the same time as completion of the sale.
Alternatively, it may be possible to extend the lease informally by agreement with the landlord 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 purchaser.
I own a 1st floor flat in Langford, conveyancing formalities finalised 6 years ago. Can you please calculate a probable premium for a statutory lease extension? Similar properties in Langford with over 90 years remaining are worth £222,000. The ground rent is £50 levied per year. The lease finishes on 21st October 2091
With just 70 years remaining on your lease we estimate the premium for your lease extension to be between £9,500 and £11,000 as well as legals.
The suggested premium range above a general guide to costs for renewing a lease, but we cannot give you a more accurate figure in the absence of detailed due diligence. You should not use the figures in a Notice of Claim or as an informal offer. There may be other concerns that need to be taken into account and clearly you want to be as accurate as possible in your negotiations. Neither should you move forward based on this information before seeking the advice of a professional.