I am not in a position to travel far from Marlborough. What is the rationale as to why all Marlborough lawyers aren't included on all mortgage company panels?
Banks point to the fact that solicitor-led fraud is considered to be responsible for millions of pounds of fraud every year.The removal of law firms from lender panels started with the rise in mortgage fraud, which prompted a thematic review by the FSA in 2011. Its conclusions included recommendations for lending institutions to review their conveyancing panels, which triggered a major policy change in the sector. It resulted in banks and building societies pruning less reputable firms off their official list of approved property lawyers .
I am considering applying for a Co-operative mortgage for purchase of a newly converted (under development) in Marlborough with 65 per cent loan to value. Is it compulsory to choose a solicitor on the conveyancing panel for Co-operative ?
In theory, you could use a solicitor that is not on the Co-operative conveyancing panel, but Co-operative would require one of their panel solicitors to be instructed to act in their interests, and you'd have to pay for this - so most people instruct a panel solicitor. It's also easier, as otherwise you'd have to deal with two solicitors for the same transaction.
Forgive me if this question is silly but I am wet behind the ears as FTB of a garden flat in Marlborough. Do I pick up the keys to the property on the completion date from my solicitor? If this is the case, I will instruct a local conveyancing solicitor in Marlborough?
On the day of completion you do not need to attend the conveyancers office in Marlborough. Your solicitors will arrange to send the completion advance to the owner’s conveyancers, and once they have received this, you will be invited to receive the keys from the selling Agents and move into your new home. This tends to happen early afternoon.
My conveyancer has informed me that lack of right of way insurance is needed on my purchase. What is the typical level of cover needed for conveyancing in Marlborough?
The appropriate level of lack of right of way indemnity insurance depends on who your lender is. It would differ for example between Yorkshire Building Society and Barnsley Building Society. Conveyancing solicitors as opposed to members of the public take out such policies.
After weeks of negotiation I have agreed a price on a house in Marlborough. My mortgage broker recommended their conveyancers. I paid an advanced payment of £200. Not long after, the property lawyer called me to say that they were not on the HSBC conveyancing panel. Am I right in thinking that I should be due a refund?
You should be able to recover this from the law firm if they were not on the HSBC panel. They should have asked at the outset which lender you were obtaining a mortgage with. An important lesson to readers of this site is to check that the lawyers are on the appropriate lender panel.
I bought my flat on 6 July and the transaction details is not yet on the land registry website. Any reason for this? My conveyancing solicitor in Marlborough said it should be formalised in less than a month. Are transfers in Marlborough uniquely lengthy to register?
As far as conveyancing in Marlborough is concerned, registration is no faster or slower than the rest of England and Wales. As opposed to being determined by geographic area, timescales can differ depending on who lodges the application, whether there are errors and whether the Land registry communicate with any interested persons or bodies. Currently in the region of three quarters of such applications are fully addressed in less than three weeks but occasionally there can be extensive delays. Historically registration is effected once the buyer has moved in to the property thus 'speed' is not typically primary concern yet where it is urgent that the the registration takes place urgently then you or your lawyers could communicate with the Registry to express the reasoning for the application to be prioritised.
My company is intending to take over a lease of a shop on the high street. Can you recommend solicitors offering competitive charges for non-domestic conveyancing in Marlborough for under £2000?
We can recommend firms who have an in-depth of experience of commercial conveyancing in Marlborough, including the disposal and acquisition of businesses as well as simply property. If you are intending to purchase or lease a shop, pub, restaurant, office, retail premises or a whole business we can put you in touch with the right solicitor. Regarding the charges these will vary based on the structure and complexity of the proposed transaction. Please provide us with your details or phone so as to enable us to supply you with comprehensive commercial conveyancing quote.
There are only Seventy years remaining on my lease in Marlborough. I now want to get lease extension but my landlord is can not be found. What should I do?
On the basis that you meet the appropriate requirements, under the Leasehold Reform, Housing and Urban Development Act 1993 you can submit an application to the County Court for for permission to dispense with the service of the initial notice. This will enable the lease to be extended by the Court. You will be obliged to demonstrate that you have made all reasonable attempts to find the landlord. In some cases an enquiry agent may be helpful to carry out a search and prepare a report which can be used as proof that the landlord is indeed missing. It is wise to seek advice from a property lawyer both on devolving into the landlord’s absence and the vesting order request to the County Court overseeing Marlborough.
I bought a 1st floor flat in Marlborough, conveyancing formalities finalised 8 years ago. Can you let me have an estimated range of the fair premium for a lease extension? Comparable properties in Marlborough with over 90 years remaining are worth £202,000. The ground rent is £60 charged once a year. The lease runs out on 21st October 2081
With just 57 years unexpired we estimate the price of your lease extension to span between £28,500 and £33,000 as well as costs.
The figure that we have given is a general guide to costs for extending a lease, but we cannot give you a more accurate figure without more detailed investigations. Do not use the figures in tribunal or court proceedings. There are no doubt additional issues that need to be considered and clearly you should be as accurate as possible in your negotiations. Neither should you take any other action based on this information without first seeking the advice of a professional.