Is the fact that my solicitor in Oxton is not listed on my bank's solicitor panel that there is a problem with the standard of his work?
It would be unwise to jump to that conclusion. There are all sorts of perfectly plausible explanations. Just recently a report by the solicitors regulator revealed 76% of law firms surveyed had been removed from at least one lender panel. The most common reasons for removal are: (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 Oxton conveyancing practice and enquire why they are no longer on the approved list for your mortgage company.
My partner and I are approaching an exchange on a property in Oxton and my parents have transferred the exchange deposit to my conveyancing practitioner. I am now advised that as the deposit has been received from someone other than me my lawyer needs to make a notification to my bank. I am advised that, in also acting for the mortgage company he must advise them that the balance of the purchase price is coming from anyone other than me. I advised the bank about my parents' contribution when I applied for the mortgage, so is it really necessary for him to raise this?
Your conveyancer is legally required to clarify with lender to ensure that they understand that the balance of the purchase price is not from your own funds. The solicitor can only disclose this to your mortgage company if you permit them to, failing which, your lawyer must cease to continue acting.
It is is a decade since I acquired my property in Oxton. Conveyancing solicitors have just been appointed on the sale but I am unable to track down my title deeds. Is this a major issue?
You need not be too concerned. First the deeds may be retained by your mortgage company or they may stored with the solicitor who acted in your purchase. Secondly in most cases the title will be recorded at the land registry and you will be able to prove you are the registered owner by your conveyancing solicitors acquiring up to date copy of the land registers. Nearly all conveyancing in Oxton involves registered property but in the unlikely event that your home is not registered it adds to the complexity but is not insurmountable.
My wife and I have a 4 bedroom Edwardian house in Oxton. Conveyancing lawyer represented me and Clydesdale. I did a free Land Registry search last week and I saw two entries: the first freehold, another for leasehold under the exact same property. If a house is not a freehold shouldn't I have been informed?
You need to read the Freehold register you have again and check the Charges Register as there may be mention of a lease. The best way to be sure that you are also the registered owner of the leasehold and freehold title as well is to check (£3). It is not completely unheard of in Oxton and other locations in the country and poses no real issues for owners other than when they mortgage they have to account for both freehold and leasehold interests when dealing with buyers. You can also question the position with your conveyancing solicitor who completed the work.
About to purchase a new build flat in Oxton. Conveyancing is daunting at the best of times but I have never purchased a new build flat before. What sort of enquires would be asked in new build conveyancing.
Here are examples of a few leasehold new build questions that you should expect your new-build leasehold conveyancing in Oxton
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Please provide evidence that the form of Lease proposed has been approved by the Land Registry. 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. Has the Lease plan been approved by the Land Registry and if not when will they be lodged for this purpose? Forfeiture - bankruptcy or liquidation must not apply under this provision.
Last June I purchased a leasehold flat in Oxton. Am I liable to pay service charges for periods before completion of my purchase?
Where the service charge has already been demanded from the previous owner and they have not paid you would not usually be personally liable for the arrears. However, your landlord may still be able to take action to forfeit the lease. A critical element of leasehold conveyancing for your conveyancer to ensure to have an up to date clear service charge receipt before completion of your purchase. If you have a mortgage this is likely to be a requirement of your lender.
If you purchase part way through an accounting year you may be liable for charges not yet demanded even if they relate to a period prior to your purchase. In such circumstances your conveyancer would normally arrange for the seller to set aside some money to cover their part of the period (usually called a service charge retention).
I bought a 1st floor flat in Oxton, conveyancing formalities finalised 5 years ago. How much will my lease extension cost? Comparable properties in Oxton with a long lease are worth £206,000. The average or mid-range amount of ground rent is £45 invoiced annually. The lease ceases on 21st October 2090
With just 66 years unexpired we estimate the premium for your lease extension to be between £12,400 and £14,200 plus legals.
The figure that we have given is a general guide to costs for renewing a lease, but we cannot give you the actual costs in the absence of comprehensive investigations. You should not use the figures in a Notice of Claim or as an informal offer. There may be additional issues that need to be taken into account and you obviously should be as accurate as possible in your negotiations. Neither should you take any other action placing reliance on this information before getting professional advice.