Am I correct in assuming that the fact that my solicitor in Lee On The Solent is not identified on my bank's conveyancing panel that there is a problem with the quality of her conveyancing?
That would more than likely be a wrong assumption to make. There are all sorts of perfectly plausible explanations. A recent report by the solicitors regulator indicated that over three quarters of law firms surveyed had been removed from at least one lender panel. The top 5 reasons are as follows: (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 contact the Lee On The Solent conveyancing firm and enquire why they are no longer on the approved list for your bank.
I am buying a house for cash in Lee On The Solent. I have resided for the last 15 years in Lee On The Solent. Conveyancing searches are a lot of money. Given that I have knowledge of the road and vicinity intimately must I have all the conveyancing searches?
If you not getting a home loan, then all but one or two of the Lee On The Solent conveyancing searches are non-obligatory. Your solicitor will try and sway you, perhaps strongly, that you should have searches carried out, but she has a professional duty to do this. Do bear in mind; if you are going to sell the house one day, it may be of relevance to your future purchaser what the searches reveal. There are plenty of instances where properties with day to day issues can still show up negative search results. A competent conveyancing solicitor in Lee On The Solent will be able to give you some sensible advice concerning this.
I am the registered owner of a freehold premises in Lee On The Solent yet invoiced for rent, why is this and what is this?
It is rare for properties in Lee On The Solent and has limited impact for conveyancing in Lee On The Solent 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 date back many centuries, but the Rent Charge Act 1977 barred the generation of new rentcharges from 1977 onwards.
Previous rentcharges can now be extinguished by making a lump sum payment under the Act. Any rentcharges that are still in existence after 2037 will be extinguished.
Are the BSA planning on creating a searchable register to to identify solicitors on the Coventry BS conveyancing panel for example in Lee On The Solent?
We have not been informed any intention on the part of the BSA to develop such a tool.
The estate agent has sent us the confirmation of our purchase of a new build apartment in Lee On The Solent. Conveyancing is daunting at the best of times but I have never purchased a new build flat before. Can you give me some examples of some of the questions asked in new build legal work.
Here is a sample of a few leasehold new build enquiries that you may expect your new-build leasehold conveyancing in Lee On The Solent
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The Landlord must covenant to assume the management if the Management Company goes into liquidation or otherwise defaults in running the management scheme. If there are lifts in the building, please confirm that the owners of flats on the ground and basement floors will not be required to contribute towards the cost of maintenance and renewal. Please supply evidence that the form of Lease proposed has been approved by the Land Registry. There must be mutual enforceability of lessee’s covenants. Where service of notices and proceedings can be at the property demised please confirm that this can be amended to include simultaneous services at the Lessees’ solicitors’ offices where the Lessee from time to time is not resident in the UK - such solicitors may be varied by notice in writing to the Landlord from time to time but otherwise will be as previously specified.
Yesterday I discovered that there is a flying freehold issue on a house I have offered on a fortnight ago in what should have been a straight forward, chain free conveyancing. Lee On The Solent is where the house is located. Is there any guidance you can impart?
Flying freeholds in Lee On The Solent are rare but are more likely to exist in relation to terraced houses. Even where you use a solicitor outside Lee On The Solent you must be sure that your lawyer goes through the deeds very carefully. Your bank may require your conveyancing solicitor to take out an indemnity policy. Some of the more diligent conveyancing solicitors in Lee On The Solent may decide 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.