I am expecting a mortgage offer from Nat West. I hope to instruct a Licensed Conveyancer in Lowestoft. Does the Nat West Solicitor panel allow for conveyancers regulated by the CLC?
The Nat West approved solicitor list is, like many other lenders, associated to the Council or Mortgage Lenders or Building Society Association, open to Licensed Conveyancers regulated by the CLC.
I am downsizing from our home in Lowestoft and the buyers lawyers are claiming that there is a risk of it being built on contaminated land. A high street Lowestoft conveyancer would know this is not the case. It does beg the question why the purchasers instructed a national conveyancing firm rather than a conveyancing solicitor in Lowestoft. We have lived in Lowestoft for three years we know of no issue. Is it a good idea to contact our local Authority to obtain confirmation need.
It would appear that you have a conveyancing solicitor already. Are they able to advise? You should enquire of your lawyer before you do anything. It is very possible that once the local authority has been informed of a potential issue it cannot be insured against (a bit like being diagnosed with a serious illness and then taking out health insurance to cover that same ailment)
Over the last few months I have been searching for a ground for flat up to £245,000 and identified one close by in Lowestoft I like with a park and railway links in the vicinity, the downside is that it's only got 61 years on the lease. I can't really find anything else in Lowestoft suitable, so just wondered if I would be making a mistake buying a lease with such few years left?
Should you require a mortgage the shortness of the lease will likely be an issue. Reduce the price by the expected lease extension will cost if not already taken into account. If the current owner has owned the property for a minimum of twenty four months you may ask them to commence the lease extension formalities and then assign it to you. You can add 90 years to the existing lease with a zero ground rent applied. You should speak to your conveyancing lawyer about this.
I have been sourcing a conveyancing practitioner in Lowestoft for my house move. Is it possible to check a solicitor's record with the legal regulator?
One may find presented Solicitor Regulator Association (SRA) determinations arising from inquisitions from 2008 onwards. Visit Check a solicitor's record. For information about the period before 1 January 2008, or to check a firm's record, call 0870 606 2555, 08.00 - 18.00 any week day save for Tuesday when lines open at 9.30am. For callers outside the UK, dial +44 (0)121 329 6800. The SRA could recorded call for training requirements.
I am a negotiator for a busy estate agent office in Lowestoft where we have witnessed a few flat sales jeopardised due to leases having less than 80 years remaining. I have been given conflicting advice from local Lowestoft conveyancing firms. Can you clarify whether the vendor of a flat can commence the lease extension formalities for the buyer?
Provided that the seller has been the owner for at least 2 years it is possible, to serve a Section 42 notice to kick-start the lease extension process and assign the benefit of the notice to the purchaser. This means that the buyer need not have to sit tight for 2 years for a lease extension. Both sets of lawyers will agree to form of assignment. The assignment has to be done prior to, or simultaneously with 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 buyer.
Leasehold Conveyancing in Lowestoft - Examples of Queries Prior to buying
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The answer will be useful as a) areas can result in problems in the building as the communal areas may start to deteriorate if services remain unpaid b) if the leaseholders have a dispute with the managing agents you will want to have full disclosure Make sure you find out if there are any onerous prohibitions in the lease. By way of example some leases prohibit pets being permitted in certain buildings in Lowestoft. If you love the propertyin Lowestoft however your cat can’t make the move with you then you will be faced hard determination. Plenty Lowestoft leasehold flats will be liable to pay a service charge for the upkeep of the block set by the freeholder. If you purchase the flat you will have to meet this charge, normally quarterly during the year. This may vary from two or three hundred pounds to thousands of pounds for blocks with lifts and large communal areas. In all likelihood there will be a rentcharge to be met yearly, normally this is not a exorbitant sum, say about £25-£75 but you need to enquire it because occasionally it could be many hundreds of pounds.
My conveyancers in Lowestoft have advised me that no longer have my conveyancing file. At the time of my purchase I took out a mortgage with the mortgage company. Is it case that being on the bank conveyancing panel they need to have retained the file for a prescribed period?
It very much depends from lender to lender but many of the Terms and Conditions of Conveyancing Panel Appointment require the file to be held for a period of 6 years. That being said we have not seen a copy of the lender Conveyancing Panel Terms. It might be worth you contacting the mortgage company directly.