We are buying a flat and need a conveyancing solicitor in Portsmouth who is on the Co-operative conveyancing panel. Could you point me in the right direction as regards a solicitor?
Our service is limited to being a directory service for firms who wish to be listed as being on the approved conveyancing panel for Co-operative . We don't recommend any particular firms conducting conveyancing in Portsmouth.
Are all Portsmouth Conveyancing Quality Solicitors on the Leeds Building Society conveyancing list of approved firms?
It is true that some lenders now utilise CQS as the starting point for Panel membership such as HSBC and Santander. CQS membership however is no guarantee to lender panel acceptance. Nevertheless,the Council of Mortgage Lenders have indicated that it is likely to become a pre-requisite for solicitor practices wishing to join their approved list of conveyancing solicitors.
Is there a list of HSBC panel conveyancers in Portsmouth on the Council of Mortgage Lender’s Website?
Unfortunately not yet. There is no such directory service on the CML or Building Society Association websites. A small selection of lenders make their panel listings available over the internet. If you are seeking to appoint a Portsmouth conveyancing practitioner on the HSBC please make the most of our tool.
We were going to get a AIP from Santander this week so we can work out what to offer on a property we like as otherwise we are dependent on web based calculators (which aren't taking into account credit checks etc). Do Santander recommend any Portsmouth solicitors on the Santander conveyancing panel, or is it better to find our own lawyer?
You will need to appoint Portsmouth solicitors independently although you'll need to choose one on the Santander conveyancing panel. The solicitor represents both you and Santander through the process.
I am purchasing a new build house in Portsmouth benefiting from help to buy. The builders refused to reduce the amount so I negotiated five thousand pounds worth of additionals instead. The estate agent advised me not disclose to my conveyancer about this extras as it would put at risk my mortgage with the bank. Is this normal?.
All lenders require a Disclosure of Incentives Form from the builder of any new build, converted or renovated property, It is available online from the Lenders’ Handbook page on the CML website. CML form is completed and handed to the lender's surveyor when the inspection is done.
Lenders have different policies on incentives. Some accept none at all, cash or physical, while others will accept cash incentives up to 5%.
Hard to understand why the representative of a builder would be suggesting you withold information from a solicitor when all this will be clearly visible on forms the builder has to supply to its solicitor, the buyer's solicitor and the surveyor.
What does commercial conveyancing in Portsmouth cover?
Commercial conveyancing in Portsmouth covers a broad array of advice, supplied by qualified solicitors, relating to business property. For example, this type of conveyancing can cover the sale or purchase of freehold business premises or, more commonly, the transfer of existing business tenancies or the drafting of new leasing arrangements. Commercial conveyancing solicitors can also offer advice on the sale of business assets, commercial mortgages and the termination of tenancies.
I am a couple of weeks into a freehold purchase having been referred to a firm by the estate agent to do our conveyancing in Portsmouth. I am am very disappointed with the level of service. Can you you assist me in finding new solicitors?
A solicitor would have to be very poor in order to consider replacing them. Has the mortgage offer been generated? In the event that it has you need to inform them of the new contact details and ensure the loan are re-sent. Your new conveyancer needs to be on the lenders panel to avoid escalating fees and complications. So that should be your first question of the new conveyancers. The search tool will help you find a bank approved conveyancer for your conveyancing in Portsmouth
I am a negotiator for a busy estate agency in Portsmouth where we have experienced a few leasehold sales put at risk due to short leases. I have received conflicting advice from local Portsmouth conveyancing solicitors. Can you clarify whether the vendor of a flat can instigate the lease extension process for the buyer?
Provided that the seller has owned the lease for at least 2 years it is possible, to serve a Section 42 notice to kick-start the lease extension process and assign the benefit of the notice to the purchaser. This means that the proposed purchaser can avoid having to sit tight for 2 years for a lease extension. Both sets of lawyers will agree to form of assignment. The assignment needs to be completed prior to, or at the same time as completion of the sale.
Alternatively, it may be possible to agree the lease extension with the freeholder either before or after the sale. If you are informally negotiating there are no rules and so you cannot insist on the landlord agreeing to grant an extension or transferring the benefit of an agreement to the buyer.
I purchased a split level flat in Portsmouth, conveyancing having been completed in 2011. Can you please calculate a probable premium for a statutory lease extension? Corresponding flats in Portsmouth with over 90 years remaining are worth £185,000. The average or mid-range amount of ground rent is £65 invoiced every year. The lease comes to an end on 21st October 2083
With 60 years remaining on your lease the likely cost is going to be between £20,000 and £23,000 plus legals.
The figure above 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 may be additional issues that need to be considered and clearly you want to be as accurate as possible in your negotiations. You should not take any other action placing reliance on this information before seeking the advice of a professional.