Am I correct in assuming that the fact that my conveyancer in Romsey is not on my lender's conveyancing panel that there is a problem with the quality of her conveyancing?
That would more than likely be an incorrect assumption to make. There are all sorts of perfectly plausible explanations. Just recently a report by the solicitors regulator revealed 76% of law firms surveyed had been removed from at least one lender panel. The most common reasons for removal are: (1) lack of transactions (2) the lawyer is a sole practitioner (3) as part of the HSBC panel reduction (4) regulatory contact by SRA (5) accidental removal. Should you be concerned you should simply call the Romsey conveyancing firm and ask them why they are no longer on the approved list for your mortgage company.
We are buying a house and require a conveyancing solicitor in Romsey who is on the UBS solicitor panel. Can you recommend a local 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 UBS . We don't recommend any particular firms conducting conveyancing in Romsey.
My uncle passed away six months ago and as sole heir and executor I was left the property in Romsey. The house had a relatively small loan left on it of around £8000. I want to have the title changed into my name whilst I re-mortgage to Virgin Money, pay off the mortgage. Is this allowed?
Given you plan to refinance then Virgin Money will insist on your using a conveyancer on the Virgin Money conveyancing panel. Here is link to the Land Registry online guidance around what to do when a property owner dies. This will help you to understand the registration process behind changing the details re the registered title. in your case it would appear that you are effectively purchasing the property from the estate. Your Virgin Money conveyancing panel solicitor pays the new mortgage money into the estate, the estate pays off the old mortgage, the charge is released and you become the owner and the Virgin Money mortgage is registered as a charge at the Land Registry.
My company is planning to lease a unit on a shopping parade. Can you recommend solicitors offering fixed fees for commercial conveyancing in Romsey for below £2000?
We are happy to recommend firms who host a wealth of experience of commercial conveyancing in Romsey, including the sale and purchase of businesses as well as simply property. Whether you are intending to acquire or dispose of a shop, pub, restaurant, office, retail premises or a whole business we will find you the right firm. Regarding the fees this will depend on the structure and nuances of the deal. Let us have your contact information or email us so that we can supply you with a detailed commercial conveyancing calculation.
I am tempted by the attractive purchase price for a two maisonettes in Romsey which have in the region of forty five years left on the lease term. Do I need to be concerned?
There are no two ways about it. A leasehold apartment in Romsey is a deteriorating asset as a result of the shortening lease. The nearer the lease gets to zero years unexpired, the more it adversely affects the marketability of the property. For most buyers and lenders, leases with less than 75 years become less and less marketable. On a more upbeat note, leaseholders can extend their leases by serving a Section 42 Notice. One stipulation is that they must have owned the premises for two years (unlike a Section 13 notice for purchasing the freehold, when leaseholders can participate from day one of ownership). When successful, they will have the right to an extension of 90 years to the current term and ground rent is effectively reduced to zero. Before moving forward with a purchase of a property with a short lease term remaining you should talk to a solicitor specialising in lease extensions and leasehold enfranchisement. We are are happy to put you in touch with Romsey conveyancing experts who will explain the options available to you during an initial telephone conversation free of charge. More often than not it is possible to negotiate informally with the freeholder to extend the lease. You may find he or she is happy to negotiate informally and willing to consider your offer straight off, without having to involve anyone else. This will save you time and money and it could help you reach a lower price on the lease. You need to ensure that the agreed terms represent good long-term value compared with the standard benefits of the Section 42 Notice and that onerous clauses are not inserted into any redrafting of the lease.
I acquired a split level flat in Romsey, conveyancing was carried out in 1998. Can you shed any light on how much the price could be for a 90 year extension to my lease? Corresponding properties in Romsey with a long lease are worth £195,000. The ground rent is £45 invoiced every year. The lease comes to an end on 21st October 2086
You have 63 years left to run the likely cost is going to range between £16,200 and £18,600 plus plus your own and the landlord's "reasonable" professional fees.
The figure above a general guide to costs for extending a lease, but we cannot give you the actual costs in the absence of detailed investigations. Do not use this information in tribunal or court proceedings. There are no doubt other issues that need to be considered and clearly you 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.
Do I need to attend the offices of the lender conveyancing panel solicitor to sign the legal charge? If so, I will appoint a lawyer who conducts conveyancing in Romsey so that I can pop in to their offices when needed.
Whereas this was necessary 15 years ago, most lenders no longer require their conveyancing panel solicitor to witness the borrowers signature. You will still be obliged to provide ID Documents and there are still distinct advantages to using a local solicitor, in your case a conveyancing solicitor in Romsey.