My husband and I are looking to buy a flat in Portsmouth and are in fact using a Portsmouth conveyancing firm. Within the past 48 hours our conveyancer has sent a preliminary report and documents to look through with a view to exchanging next week. Santander have this morning contacted us to advise us that there is now an issue as our Portsmouth solicitor is not on their approved list of lawyers. Is this a problem?
When purchasing a property with mortgage finance it is usual for the purchasers' lawyers to also represent the purchaser's lender. 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 lender and see if they can apply for membership of their conveyancing panel, but if that is not viable they will instruct their own solicitors to act. You are not legally obliged to appoint a law firm on the lender’s conveyancing panel and you may continue to use your own Portsmouth solicitors, in which case it will likely add costs, and it will likely delay the transaction as you have another set of people involved.
I have given 2 months notice to my existing landlord and have to leave my rented flat in Portsmouth by 1/10/2025. Conveyancing for my house purchase has just started. How realistic is it to complete in three weeks as don't want to have to move into temporary accommodation?
It is unwise to provide notice for your lease until exchange of contracts has taken place. Assuming that you have not previously done so, contact to your solicitor and ask them to they seek the assistance the sellers solicitors, try to an agreed time frame that all parties will work to achieve
I am buying a detached bungalow in Portsmouth. Our aim is to carry out an extension to the side at the property.Will the conveyancing process include enquiries to ascertain if these alterations were previously refused?
Your solicitor should check the registered title as conveyancing in Portsmouth can occasionally reveal restrictions in the title documents which prohibit certain changes or require the consent of another owner. Many works require local authority planning permissions and approval in accordance building regulations. Certain areas are designated conservation areas and special planning restrictions apply which often prevent or affect extensions. It would be wise to check these things with a surveyor before you commit yourself to a purchase.
I am selling my apartment. I had a double glazing fitted in February 2006, but did not receive a FENSA certificate or Building Regulation Certificate. My purchaser’s mortgage company, Clydesdale are being pedantic. The Portsmouth solicitor who is on the Clydesdale conveyancing panel is saying indemnity insurance will be fine but Clydesdale are requiring a building regulation certificate. Why do Clydesdale have a conveyancing panel if they don't accept advice from them?
It is probably the case that Clydesdale have referred the matter to their valuer. The reason why Clydesdale may not want to accept indemnity insurance is because it does not give them any reassurance that the double glazing was correctly and safely installed. The indemnity insurance merely protects against enforcement action which is very unlikely anyway.
After what feels like an age I have had an offer on an apartment in Portsmouth agreed to, the owners do however have a connected purchase. The vendors have put an offer on a property, however it’s not been accepted yet, and have viewings of other apartments booked. I have chosen a high street conveyancing solicitor in Portsmouth. What should be my next step? At what stage do I apply for the mortgage with Nationwide?
It is usual to have apprehensions where there is a chain as you are unlikely to want to incur expenses too early (home loan application is approx £1k, then valuation, Portsmouth conveyancing search costs, etc). First, you should check that your lawyer is on the Nationwide approved list. Concerning the next phase this very much depends on the circumstances of your transaction, desire for the property and on the state of the market. In a rising market some buyers would apply for the mortgage with Nationwide and arrange for the valuation and only if it comes back ok would they pay their property lawyer to proceed with searches.
Am I right to be concerned that estate agents that I am dealing with are suggesting an internet conveyancing firm as opposed to a High Street Portsmouth conveyancing firm?
As is the case with many service providers, often suggestions from family and friends can be extremely useful or valuable. Nevertheless there are many players in a conveyancing transaction; estate agents, mortgage brokers and mortgage companies might all suggest lawyers to appoint. Sometimes the conveyancers might be known to one of the organisations as experts in their field, but occasionally there is an underlying financial incentive behind the endorsement. You have the discretion to choose your own conveyancer. You need to be aware that many mortgage providers specify a panel list of solicitors you are obliged to use for the mortgage aspect of your house move.
Is it best to appoint a Portsmouth conveyancing practitioner in close proximity to the house I am buying? I have an old university friend who can deal with the legal formalities but they are based 200miles drive away.
The primary upside of using a local Portsmouth conveyancing firm is that you can attend the office to sign documents, deliver your ID and pester them where appropriate. They will also have local knowledge which is a bonus. However it's more important to get someone that will pull out all the stops for you. If you know people who used your friend and they were content that must trump using an unknown Portsmouth conveyancing solicitor solely due to them being local.
I am attracted to a two maisonettes in Portsmouth which have about 50 years unexpired on the leases. Should I regard a short lease as a deal breaker?
There are plenty of short leases in Portsmouth. The lease is a legal document that entitles you to use the premises for a prescribed time frame. As a lease gets shorter the saleability of the lease reduces and results in it becoming more costly to extend the lease. This is why it is advisable to increase the term of the lease. Sometimes it is difficulties arise selling premises with a short lease because mortgage companies less inclined to grant a loan on properties of this type. Lease extension can be a difficult process. We recommend you seek professional help from a solicitor and surveyor with experience in this arena.
I acquired a basement flat in Portsmouth, conveyancing having been completed 8 years ago. Can you let me have an estimate of the premium that my landlord can legally expect in return for granting a renewal of my lease? Corresponding flats in Portsmouth with over 90 years remaining are worth £185,000. The ground rent is £65 per annum. The lease expires on 21st October 2085
You have 60 years left to run the likely cost is going to range between £20,000 and £23,000 plus plus your own and the landlord's "reasonable" professional fees.
The figure that we have given is a general guide to costs for renewing a lease, but we cannot give you a more accurate figure without more comprehensive due diligence. You should not use the figures in a Notice of Claim or as an informal offer. There are no doubt additional concerns that need to be considered 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.