My partner and I are hoping to acquire a flat in Plymstock and have appointed a Plymstock conveyancing firm. Within the last couple of days our lawyer has forwarded the sale agreement to be signed with a detailed report with a view to exchanging next week. Nottingham Building Society have this evening contacted us to inform me that there is now an issue as our Plymstock conveyancer is not on their approved list of lawyers. Please explain?
When purchasing a property with mortgage finance it is conventional for the purchasers' solicitors to also represent the mortgage company. In order to act for a bank or building society a law firm has to be on that lender's conveyancing panel. An application has to be made by the law firm to the lender to become a member of the lender's panel and there are increasingly strict criteria which the firm has to satisfy and indeed some lenders now require their panel members to be part of the Law Society’s Conveyancing Accreditation Scheme. Your solicitor should contact your mortgage company and see if they can apply for membership of their conveyancing panel, but if that is not viable they will instruct their own lawyers to represent them. You are not legally obliged to appoint a law firm on the lender’s conveyancing panel and you may continue to use your own Plymstock solicitors, in which case your legal fees may increase, and it will likely delay the transaction as you have another set of people involved.
I have given 8 weeks notice to my current landlord and have to vacate my rented flat in Plymstock by the end of next month. Conveyancing for my house purchase is progressing. How realistic is it to complete in 5 weeks as I wish to avoid having to find short term accommodation?
It is unwise to give notice on a rental until your lawyer suggests that you should. Assuming that you have not already done so, contact to your lawyer and request that they seek the assistance the sellers lawyers, try to get a realistic time scale from them that everyone will look to achieve
We're in Plymstock, FTBs purchasing with a mortgage (lender is Lloyds , and our solicitor is on the Lloyds conveyancing panel). How long should the conveyancing process take?
The fact that your lawyer is on the Lloyds 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 purchasing a house and the conveyancer has referenced Chancel Repair to which the property may be liable because it falls into the area of such a church. She has recommended insurance. Is this strictly required for conveyancing in Plymstock
Unless a previous acquisition of the premises took place post 12 October 2013 you may take it that solicitors delivering conveyancing in Plymstock to continue to advocate a chancel search and or chancel repair liability insurance.
I am looking for a leasehold apartment up to £195,000 and identified one close by in Plymstock I like with a park and railway links nearby, the downside is that it's only got 52 remaining years left on the lease. There is not much else in Plymstock suitable, so just wondered if I would be making a grave error acquiring a short lease?
Should you require a home loan the remaining unexpired lease term will be problematic. Reduce the price by the anticipated lease extension will cost if it has not already been discounted. If the current proprietor has owned the property for a minimum of 2 years you can ask them to commence the lease extension formalities and then assign it to you. You can add 90 years to the existing lease and have £0 ground rent by law. You should consult your conveyancing solicitor concerning this matter.
How can the Landlord & Tenant Act 1954 impact my commercial offices in Plymstock and how can your lawyers assist?
The 1954 Act gives protection to business leaseholders, giving them the dueness to apply to court for a renewal lease and continue in occupation at the end of an expired lease. There are certain specified grounds that a landlord can refuse a lease renewal and the rules are complicated. Fees are different for commercial conveyancing. Plymstock is one of the numerous areas of the UK in which the firms we work with have offices