My husband and I are hoping to acquire a property in Leigh On Sea and are in fact using a Leigh On Sea conveyancing firm. Within the past 48 hours our lawyer has forwarded the sale agreement to be signed with a detailed report in anticipation of exchanging contracts shortly. Skipton Building Society have this afternoon contacted us to inform me that they have now hit a problem as our Leigh On Sea conveyancer is not on their approved list of lawyers. Is this a problem?
When purchasing a property with the benefit of a mortgage it is conventional for the purchasers' lawyers to also act for the mortgage company. In order to act for a bank or building society a law firm has to be on that lender's conveyancing panel. An application has to be made by the law firm to the lender to become a member of the lender's panel and there are increasingly strict criteria which the firm has to satisfy and indeed some lenders now require their panel members to be part of the Law Society’s Conveyancing Quality Scheme. Your solicitor should contact your bank and see if they can apply for membership of their conveyancing panel, but if that is not viable they will instruct their own solicitors to act. You are not legally obliged to appoint a law firm on the lender’s conveyancing panel and you may continue to use your own Leigh On Sea solicitors, in which case it will likely add costs, and it may delay matters as you have another set of people involved.
As someone not used to the Leigh On Sea conveyancing process what is the number one tip you can impart concerning the house moving process in Leigh On Sea
Not many law firms or advisers will tell you this but conveyancing in Leigh On Sea or throughout England and Wales is an adversarial experience. Put another way, when it comes to conveyancing there is lots of room for friction between you and others involved in the ownership transfer. E.g., the seller, selling agent and sometimes your bank. Choosing a law firm for your conveyancing in Leigh On Sea should not be taken lightly as your conveyancer is your adviser, and is the SOLE person in the process whose responsibility is to protect your best interests and to keep you safe.
There is a distinct increase of a "blame" culture- someone has to be blamed for the process taking so long. You should always trust your conveyancer ahead of all other parties when it comes to the legal transfer of property.
We're in Leigh On Sea, First timers purchasing with a mortgage (lender is Co-operative , and our lawyer is on the Co-operative conveyancing panel). How long should the conveyancing process take?
The fact that your lawyer is on the Co-operative conveyancing panel is a help. It would almost certainly delay matters if they were not. However, no solicitor should guarantee a timeframe for your conveyancing, due to third parties outside of your control such as delays caused by lenders,conveyancing search providers or by the other side’s solicitors. The time taken is often determined by the number of parties in a chain.
Despite weeks of looking the Title Certificate and documents to my home are lost. The solicitors who conducted the conveyancing in Leigh On Sea 10 years ago have long since closed. What do I do?
Assuming the title is registered the details of your proprietorship will be retained by HMLR with a Title Number. It is possible to perform a search at the Land Registry, identify your house and get up to date copies of the property title for a small fee. Where the title is Leasehold then the Land Registry will usually hold a file duplicate of the Registered Lease and again, a copy can be retrieved for £20 inclusive of VAT.
Am I right to be concerned about brokers that I am dealing with are encouraging me to use a factory type conveyancing firm as opposed to a local Leigh On Sea conveyancing firm?
As is the case with many service providers, often suggestions from family and friends can be worth their weight in gold. Yet there are numerous players in a conveyancing matter; estate agents, financial adviser and banks might all recommend solicitors to use. Sometimes the conveyancers might be known to one of the organisations as being good in their field, but sometimes there behind the scenes financial incentive behind the endorsement. You are free to appoint your own conveyancer. You need to be aware that the majority of lenders specify a panel list of solicitors you must use for the lender aspect of your home move.
I own a leasehold house in Leigh On Sea. Conveyancing and The Mortgage Works mortgage went though with no issue. I have received a letter from someone claiming to own the reversionary interest in the property. Attached was a demand for arrears of ground rent dating back to 1997. The conveyancing practitioner in Leigh On Sea who previously acted has now retired. Do I pay?
First contact the Land Registry to be sure that this person is indeed the new freeholder. There is no need to incur the fees of a Leigh On Sea conveyancing lawyer to do this as you can do this on the Land Registry website for less than a fiver. Rest assured that in any event, even if this is the rightful landlord, under the Limitation Act 1980 the limitation period for recovery of ground rent is six years.
I invested in buying a 1 bedroom flat in Leigh On Sea, conveyancing having been completed 9 years ago. Can you shed any light on how much the price could be for a 90 year extension to my lease? Comparable flats in Leigh On Sea with a long lease are worth £216,000. The average or mid-range amount of ground rent is £50 invoiced every year. The lease expires on 21st October 2095
You have 70 years left to run the likely cost is going to be between £9,500 and £11,000 plus professional fees.
The figure above a general guide to costs for renewing a lease, but we are not able to provide the actual costs in the absence of comprehensive investigations. You should not use the figures in tribunal or court proceedings. There are no doubt additional concerns that need to be taken into account and clearly you want to be as accurate as possible in your negotiations. Please do not take any other action placing reliance on this information without first seeking the advice of a professional.