Me and my partner are buying a 3 bedroom apartment in Parkstone with a mortgage. We wish to retain our Parkstone conveyancer, however the bank says she’s not on their "panel". We have to appoint one of the lender panel solicitors or keep our Parkstone solicitor and pay for one of their panel firms to represent them. We feel that this is inequitable; are we not able to require that the mortgage company use our Parkstone conveyancer ?
No, not really. Your mortgage offer is subject to its terms and conditions, one of which will be that lawyers will on the bank’s conveyancing panel. Until recently, most lenders had large numbers of law firms on their panels: a borrower could choose one for themselves, as long as it was on the lender's panel. The lender would then simply instruct the borrower's lawyers to act for the lender, too. You can use your lender's panel lawyers or you could borrow from another lender which does not restrict your choice. A further alternative is for your Parkstone conveyancing solicitor to apply to be on the conveyancing panel.
Can I use your services to recommend a Conveyancing solicitor in Parkstone even where I’m not buying or selling a house, for example where I intend to acquire an office in Parkstone with a loan from Nottingham Building Society?
The service is primarily utilised to help choose domestic conveyancing solicitors in Parkstone but we have listed at the bottom of this page a selection of Parkstone commercial conveyancing firms. You should speak with the solicitors directly to see if they are also authorised to represent Nottingham Building Society
I am purchasing a semi-detached house in Parkstone. Can I do my own conveyancing?
Leaving aside the complexities and merits of DIY conveyancing in Parkstone you will have to appoint a solicitor on your mortgage company's conveyancing panel to look after their interests. Most people therefore find it easier to let the solicitor act for them and the lender. Furthermore there is minimal cost savings to be made in you doing conveyancing for yourself and another lawyer conducting the conveyancing for the lender. Please feel free to use the search tool to find a lawyer on your lender panel in Parkstone.
I am the sole beneficiary of my late father’s will with all property in now in my sole name, including the my former home in Parkstone. Conveyancing formalities meant that the Land Registry date was in December. I now wish to sell up. I do know about the Mortgage Lenders 6 month 'rule', which means that my property ownership may be considered the same way as if I'd bought the house in December. Will no one buy the property for half a year?
The CML handbook mandates solicitors to: "report to us immediately if the owner or registered proprietor has been registered for less than six months." Technically you could be impacted by that. How practical a view lenders take of it, depend on the bank as this obligation principally exists to identify the purchase and immediately sell or the wholesaling and assigning of property.
is it true that all Parkstone solicitor firms on the Nationwide conveyancing panel are regulated by the Solicitors Regulatory Authority?
As a firm of solicitors, in order to be on the Nationwide conveyancing panel they would need to be overseen by the SRA. Some mortgage companies do permit licenced conveyancers on their panel and in such a situation the firms would be governed by the CLC.
Intending to buy a house in Parkstone. I have received an online quote from a licenced conveyancer, which states: "There will be no charge for dealing with the Building Society if you are obtaining a mortgage". I take this to mean that there will be no additional fee if the solicitor is on the Bank of Ireland conveyancing panel. I wanted to make sure it means there will be no additional fees for dealing with the mortgage.
They are simply saying that the cost for acting for the lender is included in the fee being quoted. It is worth you checking that the Parkstone property lawyer is on the Bank of Ireland conveyancing panel.
I have been on the look out for a leasehold apartment up to £305k and found one close by in Parkstone I like with open areas and transport links nearby, the downside is that it only has 51 years on the lease. There is not much else in Parkstone in this price bracket, so just wondered if I would be making a mistake acquiring a lease with such few years left?
If you require a mortgage the remaining unexpired lease term may be an issue. Reduce the price by the anticipated lease extension will cost if it has not already been discounted. If the current proprietor has owned the premises for a minimum of 2 years you could ask them to commence the lease extension formalities and then assign it to you. An additional ninety years can be extended on to the current lease term with a zero ground rent applied. You should speak to your conveyancing lawyer about this.
Estate agents have just been given the go-ahead to market my garden apartment in Parkstone. Conveyancing lawyers have not yet been instructed, however I have just had a quarterly maintenance charge demand – Do I pay up?
Your conveyancing lawyer is likely to suggest that you should discharge the service charge as you normally would as all ground rent and maintenance charges will be apportioned on completion, so you will be reimbursed by the buyer for the period running from after the completion date to the subsequent invoice date. Most management companies will not acknowledge the buyer until the service charges have been paid and are up to date, so it is important for both buyer and seller for the seller to show that they are up to date. Having a clear account will assist your cause and will leave you no worse off financially.
I am the registered owner of a split level flat in Parkstone, conveyancing was carried out June 2000. Can you shed any light on how much the price could be for a 90 year extension to my lease? Corresponding properties in Parkstone with over 90 years remaining are worth £222,000. The average or mid-range amount of ground rent is £50 charged once a year. The lease ceases on 21st October 2093
You have 71 years unexpired the likely cost is going to range between £9,500 and £11,000 as well as professional fees.
The figure above a general guide to costs for extending a lease, but we are not able to supply the actual costs without more comprehensive due diligence. Do not use this information in a Notice of Claim or as an informal offer. There may be other 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.