My husband and I are looking to acquire a house in Ringwood and have appointed a Ringwood conveyancing firm. Within the past 48 hours our lawyer has sent a preliminary report and documents to look through with the expectation that exchange is imminent. HSBC Bank have this afternoon contacted us to inform me that there is now an issue as our Ringwood solicitor is not on their approved list of lawyers. Is this a problem?
Where you are buying a property requiring a mortgage it is usual for the purchasers' lawyers to also act for the mortgage company. 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 Quality Scheme. Your property lawyer should contact your mortgage company and see if they can apply for membership of their conveyancing panel, but if that is not viable they will instruct their own lawyers to represent them. You don't have to instruct a firm on the bank's conveyancing panel as you are at liberty to use your preferred Ringwood lawyers, in which case it will likely add costs, and it may delay matters as you have another set of people involved.
Our mortgage company has suggested solicitors on their panel based in Ringwood but I would rather choose a conveyancing lawyer in Ringwood local to me. Can you help?
Not all Ringwood conveyancing firms are approved and listed on all banks conveyancing panel. Use our find an approved solicitor tool to find a Ringwood conveyancing firm on the on the lender panel.
Do I need to pay for insurance to cover chancel repairs when acquiring a residence in Ringwood?
Unless a previous purchase of the property completed post 12 October 2013 you may expect conveyancing practitioners conducting conveyancing in Ringwood to continue to suggest a chancel search and or insurance against a claim.
My cousin has recommend that I use his conveyancers in Ringwood. Should I use them?
Much as we are happy to recommend a Ringwood conveyancing lawyer the best way to select a conveyancing solicitor is to seek recommendations from friends or family who have experience in using the solicitor that you are contemplating using.
I have just started marketing my garden flat in Ringwood. Conveyancing is yet to be initiated, but I have recently had a quarterly maintenance charge invoice – what should I do?
The sensible thing to do is clear the invoice as normal as all ground rent and service charges should be apportioned on completion, so you should recover the relevant percentage by the buyer 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. This will smooth the conveyancing process.
I own a studio flat in Ringwood, conveyancing was carried out September 2001. Can you give me give me an indication of the likely cost of a lease extension? Comparable flats in Ringwood with a long lease are worth £197,000. The ground rent is £55 yearly. The lease expires on 21st October 2080
With just 55 years unexpired we estimate the premium for your lease extension to span between £31,400 and £36,200 plus plus your own and the landlord's "reasonable" professional fees.
The suggested premium range that we have given is a general guide to costs for extending a lease, but we are not able to provide a more accurate figure in the absence of comprehensive investigations. Do not use this information in a Notice of Claim or as an informal offer. There are no doubt other issues that need to be taken into account and clearly you should 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.
Do I have to attend the offices of the mortgage company conveyancing panel solicitor to execute the mortgage deed? If so, I will choose one who does conveyancing in Ringwood so that I can pop in to their offices when needed.
Most conveyancing panel lawyers for the bank undertake conveyancing via the post, internet or over the phone. This means that they can undertake your Conveyancing Transaction no matter where you live in England or Wales. YOu dont have to use a conveyancing solicitor in Ringwood. However you should check if you can still book an appointment to go into appointed conveyancing lawyer if you prefer.