We are purchasing a new build duplex in Poole and my solicitor is telling me that she is duty bound to the lender to disclose incentives from the developer. I am on a tight deadline to exchange contracts and I would rather not prolong matters. is my lawyer playing by the book?
You should not exchange unless you have been advised to do so by your conveyancing practitioner. A precondition to being on a mortgage company panel is to comply with the UK Finance Lenders’ Handbook requirements. The CML Conveyancing Handbook requires that your lawyer have the appropriate Disclosure of Incentive form completed by the developer and accepted by your lender.
If you had a top tip for choosing a conveyancing solicitor in Poole what would it be?
We would encourage you not to base your choice on the lowest Poole conveyancing costs illustration. You really do get what you’re paying for when it comes to property lawyers. A cheap quote may mean that the conveyancing solicitor is handling a lot of jobs at one time and you won’t get the quality of service and the attention that you need. It is, however, wise to use a conveyancer who has a fixed fee on a no sale, no fee basis. This way, you know exactly what you’ll have to pay in ahead of time.
I am helping my mother sell her flat in Poole. Does the conveyancer commission the energy performance certificate or should I organise this?
After the abolition of Home Packs, energy performance certificates was maintained a mandatory component of selling a property. An energy performance certificate needs to be commissioned prior to the property being marketed. This is not a task that solicitors ordinarily organise. If you are instructing a Poole conveyancing solicitor they may be able to arrange EPC’s due to their contacts with long established local providers
My solicitor has informed me that defective lease insurance is needed on my purchase. What is the typical level of cover needed for conveyancing in Poole?
The appropriate level of defective lease indemnity insurance should be dictated by who your lender. It would differ for example between Barclays and Skipton Building Society. Conveyancing practitioners as opposed to members of the public take out such insurances.
I used Action Conveyancing several years ago for my conveyancing in Poole. Now, I need the files but the law firm is no longer operating. What do I do?
You should call the Solicitors Regulatory Authority (SRA) to help locate your conveyancing files. They can be contacted on please contact on 0870 606 2555. Alternatively, you should use their online form to make an enquiry. You will need to provide the SRA with as much information as possible to assist their search, including the name and address in Poole of the conveyancing firm of solicitors you previously retained, the name of conveyancing solicitor with whom you had dealings, and the date on which you last had dealings with the firm.
How simple is it to use your search tool to choose a conveyancing solicitor in Poole on the approved list for my bank?
1st select a mortgage company such as Yorkshire Building Society, Virgin Money or Bank of Ireland then choose your preferred area such as Poole. Conveyancing organisations in Poole and across England and Wales will then be listed.
I've recently bought a leasehold house in Poole. Am I liable to pay service charges for periods before my ownership?
In a situation 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. It is an essential part of leasehold conveyancing for your conveyancer to be sure 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 invested in buying a basement flat in Poole, conveyancing was carried out May 1997. Can you work out an approximate cost of a lease extension? Equivalent flats in Poole with a long lease are worth £190,000. The ground rent is £45 levied per year. The lease finishes on 21st October 2088
With just 62 years left to run we estimate the price of your lease extension to range between £17,100 and £19,800 plus professional fees.
The figure above 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 may be other issues that need to be considered and you obviously want to be as accurate as possible in your negotiations. Please do not move forward based on this information before getting professional advice.
My lawyers in Poole have advised me that no longer have my conveyancing file. To assist with my purchase I took out a mortgage with the bank. Is it case that being on the lender conveyancing panel they need to have retained the file for a prescribed period?
Different lenders have different requirements but many of the Terms and Conditions of Conveyancing Panel Appointment require the file to be held for a period of 6 years. That being said we have not seen a copy of the bank Conveyancing Panel Terms. It might be worth you contacting the bank directly.