We're in Parson Cross, First timers purchasing with a mortgage (lender is Nottingham , and our lawyer is on the Nottingham conveyancing panel). How long should the conveyancing process take?
The fact that your lawyer is on the Nottingham conveyancing panel is a help. It would almost certainly delay matters if they were not. However, no conveyancing practitioner 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.
I am aiming to move house in November. Should my conveyancing solicitor update the removal company on the day of completion. Incidentally, can you recommend a removal company in Parson Cross. Conveyancing lawyer was found before I stumbled across this site.
On the afternoon of completion you will need to collect the house keys from the estate agent however this should only take place when the previous owners conveyancers confirm to the agent that the monies to complete are in and the keys can be given over. After that you will need to advise the removal company that you are ready to move in. We do not recommend a specific removal organisation but can assist you in choosing a residential property solicitor in Parson Cross or a lawyer with expertise in conveyancing in Parson Cross.
Is it correct that all Parson Cross CQS (Conveyancing Quality Scheme) solicitors are on the Lloyds conveyancing list of approved practices?
Some major banks and building societies now make use of the accreditation scheme as the starting point for Panel approval such as HSBC and Santander. CQS membership however is no guarantee to lender panel acceptance. That being said,the Council of Mortgage Lenders have indicated that it is likely to become a pre-requisite for solicitor practices wishing to remain on their panels.
Can you point me to a directory of Yorkshire BS panel solicitors in Parson Cross on the UK Finance Lenders’ Handbook Website?
Unfortunately not yet. There is no such tool on the Council of Mortgage Lenders or Building Society Association sites. A small selection of banks make their panel listings open the public online. Where you are looking for a Parson Cross solicitor on the Yorkshire BS please make the most of our tool.
Various internet forums that I have visited warn that are the main reason for delay in Parson Cross house deals. Is this right?
The Council of Property Search Organisations (CoPSO) published conclusions of a review by MoveWithUs that conveyancing searches do not feature within the common causes of delays during the legal transfer of property. Searches are not likely to be the root cause of delay in conveyancing in Parson Cross.
My wife and I purchased a terraced Edwardian property in Parson Cross. Conveyancing practitioner represented me and Aldermore. I did a free Land Registry search last week and I saw a couple of entries: one for freehold, another for leasehold with the matching property. I thought I was buying a freehold how can I check?
You should review 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 Parson Cross and other areas of the country and poses no real issues for owners other than when they buy they have to account for both freehold and leasehold interests when dealing with mortgage companies. You can also enquire as to the situation with your conveyancing solicitor who conducted the work.
Yesterday I discovered that there is a flying freehold element on a house I put an offer in two weeks back in what was supposed to be a quick, chain free conveyancing. Parson Cross is the location of the property. Can you shed any light on this issue?
Flying freeholds in Parson Cross are unusual but are more likely to exist in relation to terraced houses. Even though you don't necessarily need a conveyancing solicitor in Parson Cross you must be sure that your lawyer goes through the deeds thoroughly. Your lender may require your conveyancing solicitor to take out an indemnity policy. Some of the more diligent conveyancing solicitors in Parson Cross may determine that this is not enough and that the deeds be re-written to give you the most up to date legal protection. If so, the next door neighbour also had to sign up to the revised deeds.It is possible that your lender will not accept the situation so the sooner you find out the better. You should also check with your insurance broker as to whether they will insure a flying freehold residence.
Can you offer any advice when it comes to appointing a Parson Cross conveyancing practice to deal with our lease extension?
When appointing a conveyancer for lease extension works (regardless if they are a Parson Cross conveyancing firm) it is most important that they be familiar with the legislation and specialises in this area of work. We recommend that you talk with two or three firms including non Parson Cross conveyancing practices prior to instructing a firm. Where the conveyancing practice is ALEP accredited then that’s a bonus. The following questions might be helpful:
-
Can they put you in touch with clients in Parson Cross who can give a testimonial?
I invested in buying a basement flat in Parson Cross, conveyancing was carried out February 2010. Can you please calculate a probable premium for a statutory lease extension? Comparable properties in Parson Cross with an extended lease are worth £211,000. The average or mid-range amount of ground rent is £45 charged once a year. The lease expires on 21st October 2092
With 67 years remaining on your lease we estimate the price of your lease extension to be between £10,500 and £12,000 plus plus your own and the landlord's "reasonable" professional fees.
The figure above a general guide to costs for extending a lease, but we are not able to advice on a more accurate figure without more detailed investigations. You should not use this information in tribunal or court proceedings. There may be additional concerns that need to be taken into account and clearly you want to be as accurate as possible in your negotiations. Neither should you take any other action based on this information before getting professional advice.