I am progressing with the sale of my house in Redland and the estate agent has just e-mailed to say that the purchasers are changing their law firm. The reason given is that the bank will only engage with property lawyers on their approved list. Why would a big named mortgage company only engage with certain law firms rather the firm that they want to select to handle their conveyancing in Redland ?
Lenders have always had panels of law firms that can act for them, but in the past few years big names such as Nationwide, have reviewed and reduced their conveyancing panel– in some cases removing conveyancing firms who have acted for them for many years.
Banks blame a rise in fraud by way of justification for the cull – criteria have been tightened as a smaller panel is easier to keep an eye on. No lender will say how many solicitors have been dropped, claiming the information is commercially sensitive, but the Law Society claims that it is hearing daily from firms that have been removed from panels. Some are unaware that they have been dropped until contacted by a borrower who has instructed them as might be the situation in your buyers' case. Your purchasers are unlikely to have any sway in the decision.
Do I choose a Licenced Conveyancer or Solicitor for conveyancing in Redland?
There are many registered licenced Conveyancers in Redland and Solicitor practices in Redland who can help with your conveyancing We would stress that the two are regulated professionals specialising in the legal aspects of the home buying process. Both can conduct other property legal work such as remortgage conveyancing, enfranchisement and transfer of equity conveyancing.
My wife and I purchasing a 4 bedroom semi-detached house in Redland. We would like to carry out a loft conversion at the property.Will the conveyancing process include enquiries to ascertain if these works are allowed?
Your property lawyer will review the registered title as conveyancing in Redland can occasionally identify restrictions in the title documents which restrict categories of changes or require the permission of another owner. Many additions require local authority planning permissions and approval under the building regulations. Many locations are designated conservation areas and special planning restrictions apply which frequently prevent or affect extensions. It would be prudent to check these issues with a surveyor ahead of any purchase.
After shopping around on the internet I have found a Redland lawyer having made sure that they are on the RBS conveyancing panel. Does my lawyer arrange the survey of the property?
RBS will need an independent valuation of the property. Your lawyer will not arrange this. Usually RBS will appoint their own surveyor to do this, and you will have to pay for it. Remember that this is a valuation for mortgage purposes and not a survey. Your property lawyer will not organise the survey but they may be able to put you in touch with a local one that they recommend. RICS offers a find a surveyor service (just google it) where you can search for a qualified surveyor by your Redland postcode. As you are getting a mortgage with RBS, you could contact them to see if they have a list of approved surveyors in Redland.
I have been on the look out for a flat up to £235,500 and identified one close by in Redland I like with amenity areas and transport links nearby, the downside is that it's only got 51 remaining years left on the lease. I can't really find anything else in Redland for this price, so just wondered if I would be making a mistake purchasing a short lease?
Should you require a mortgage the remaining unexpired lease term will likely be problematic. Reduce the offer by the expected lease extension will cost if not already taken into account. If the current owner has owned the premises for a minimum of twenty four months you could ask them to start the process of the extension and then assign it to you. An additional ninety years can be extended on to the existing lease and have £0 ground rent by law. You should consult your conveyancing solicitor about this matter.
In surfing the internet for the term conveyancing in Redland it shows results of numerous property lawyerslocally. With so much choice what is the best way to find the suitable conveyancer for me?
The best method of choosing the right conveyancer is through a personal recommendation, so seek the counsel of friends and relatives who have acquired a property in Redland or a reputable estate agent or mortgage broker. Costs for conveyancing in Redland vary, so it's sensible to request at least three quotes from different conveyancers. Dont forget to clarify what costs in the quote includes.
I am hoping to sign contracts shortly on a leasehold property in Redland. Conveyancing lawyers have said that they will have a report out to me tomorrow. What should I be looking out for?
The report on title for your leasehold conveyancing in Redland should include some of the following:
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Whether the lease restricts you from renting out the property, or working from home Advice concerning the obligations in the lease to pay service charges - in relation to the building, and the more general rights a leaseholder has The unexpired lease term. You should receive guidance as what happens when the lease ends, and aware of the importance of not letting the lease term falling below eighty years It needs to be made clear to you if the lease allows you to alter or upgrade anything in the premises- you must be made aware as to whether it applies to all alterations or limited to structural alteration, and whether permission is mandated necessary Responsibility for maintaining the window frames
I purchased a studio flat in Redland, conveyancing was carried out in 2006. 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? Equivalent properties in Redland with over 90 years remaining are worth £201,000. The ground rent is £45 invoiced annually. The lease ceases on 21st October 2090
With only 65 years remaining on your lease we estimate the premium for your lease extension to be between £13,300 and £15,400 plus plus your own and the landlord's "reasonable" professional fees.
The figure above a general guide to costs for renewing a lease, but we cannot give you a more accurate figure without more detailed investigations. You should not use the figures in a Notice of Claim or as an informal offer. There are no doubt other issues that need to be taken into account and you obviously 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.
We are thinking of instructing an online lawyer ahead of a Redland conveyancing practice. Should I ‘stay local’?
Advantages do exist in being able to visit a local Redland conveyancing solicitor such as
- signing papers same day
- sometimes being able to see someone face-to-face can make a huge difference, particularly for more complex conveyancing
- the ability to complain if matters are not going as expected
When checking fees, look carefully for hidden extras. The majority decent Redland high street solicitors give an all-inclusive price. Many online agents seem to offer low cost fees, yet have burried 'extras' in the fine print.