I plan on buying residence in Redland. My Solicitor has never been on on the lender solicitor panel. Is it possible for me to appoint my Redland conveyancing solicitor even though they are not on the bank panel of approved conveyancing solicitors?
You have a couple of alternatives available to you here
- Complete the deal with your chosen Redland solicitor but your mortgage company will undoubtedly retain a conveyancer from their conveyancing panel. The net result is additional cost together with potential interruption.
- Choose a new property lawyer to conduct the conveyancing, ensuring that they are on the lender conveyancing panel.
- Convince your conveyancer to do everything possible to get listed on the mortgage company panel of solicitors
Due to complete my purchase in Redland next Friday. I have now been asked to send a copy of my building insurance schedule by my solicitor as he says that he has to check this in his capacity as lawyer for the lender. What does the insurance need to cover?
Any lawyer on acting for banks would need to check that the following risks are covered fire; lightning; aircraft; explosion; earthquake; storm; flood; escape of water or oil; riot; malicious damage; theft or attempted theft; falling trees and branches and aerials; subsidence; heave;landslip;collision;accidental damage to underground services;professional fees, demolition and site clearance costs; and public liability to anyone else. There are some other issues such as the level of excess that are set out in a lender’s Part 2 conditions. These requirements are not specific to conveyancing in Redland.
We see that you have a search directory identifying firms on the HSBC conveyancing panel. Do companies pay you a referral fee if I retain them for our own conveyancing in Redland?
We are a listing service only for law firms wishing to communicate if they are on the HSBC conveyancing panel or other lender panels. We do not charge referral fees to any conveyancer that you subsequently appoint for your conveyancing in Redland.
I used Arc property Solicitors a few years past for my conveyancing in Redland. Now, I need the files however the law firm is no longer operating. What do I do?
You should contact the Solicitors Regulatory Authority (SRA) to assist in tracing 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 Redland of the conveyancing firm of solicitors you previously hired, the name of conveyancing solicitor with whom you had dealings, and the date on which you last had dealings with the firm.
Do I need to be wary that brokers that I am dealing with are suggesting a web based conveyancing firm rather than a High Street Redland conveyancing company?
As with many service providers, often recommendations from connections can be extremely useful or valuable. Nevertheless there are lots of players in a conveyancing transaction; estate agents, financial adviser and mortgage companies might all suggest lawyers to appoint. On occasion these lawyers might be known to one of the organisations as experts in their field, but sometimes there may be a financial incentive behind the endorsement. You have the right to select your preferred lawyer. Don't forget that most banks specify a panel list of lawyers you have to use for the lender related work in your conveyancing.
I have just appointed agents to market my 2 bed flat in Redland. Conveyancing lawyers have not yet been instructed, however I have recently received a half-yearly maintenance charge demand – Do I pay up?
It best that you pay the maintenance contribution as normal as all rents and service invoices should be apportioned on completion, so you should recover the relevant percentage by the purchaser for the period running from after the completion date to the next payment date. Most managing agents will not acknowledge the buyer unless the service charges have been paid and are up to date, so it is important for both buyer and seller for the seller to show that they are up to date. Having a clear account will assist your cause and will leave you no worse off financially.
I purchased a 1 bedroom flat in Redland, conveyancing formalities finalised December 2003. Can you let me have an estimated range of the fair premium for a lease extension? Equivalent flats in Redland with a long lease are worth £190,000. The average or mid-range amount of ground rent is £45 invoiced annually. The lease comes to an end on 21st October 2087
With only 62 years remaining on your lease we estimate the premium for your lease extension to range between £17,100 and £19,800 as well as costs.
The suggested premium range above a general guide to costs for renewing a lease, but we cannot give you a more accurate figure in the absence of detailed due diligence. Do not use the figures in a Notice of Claim or as an informal offer. There are no doubt additional issues that need to be considered and clearly you should be as accurate as possible in your negotiations. You should not move forward based on this information without first seeking the advice of a professional.