In the event thatI was to acquire a simple residential housein Romsey mortgage fee and dispense with a survey and no local authority searches how much could I expect to have to pay for conveyancing in Romsey?
Any savings you would make would be limited to the costs for searches. Your solicitor is required to do the vast majority of work - money laundering, liaising with your sellers conveyancing practitioner, SDLT submission, register the ownership etc. A slight saving might be made by not needing to register a charge however it won't be significant.
We are purchasing a apartment in Romsey. It might be a silly question but how we can trust a solicitor? At some point we will need to send money into their account. What protection do we have from them run away with our monies?
Be assured that all money in a Solicitors client account is 100% safe, and even if your Solicitor ran off with it, the Law Society would reimburse you fully.
Having digested plenty of mortgage guides, I note that it is considered advisable to get your house surveyed prior to buying it. When I asked my local Romsey solicitor - who is on the Lloyds conveyancing panel - on this she said they don't do this and I need to contract an independent surveyor. is that correct?
Lloyds will need an independent valuation of the property. Your lawyer will not arrange this. Usually Lloyds 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 solicitor 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 Romsey postcode. As you are getting a mortgage with Lloyds, you could contact them to see if they have a list of approved surveyors in Romsey.
Bank of Ireland have agreed my mortgage in principle, my offer on a house in Romsey has been accepted, what happens next?
The estate agent will wish to know who your solicitors are (ensure that the solicitors are on the lender’s panel). Contact Bank of Ireland or the financial adviser and finish off any relevant paperwork. Bank of Ireland will sellect a valuer who will get in touch with the estate agent or seller to book an appointment. Once carried out (assuming no problems) it takes approximately a week to get a mortgage offer. Bank of Ireland will send the offer to you and your solicitors. The legal work will then take it’s course according the nature and complexity of the conveyancing in Romsey.
What will a local search reveal concerning the property I am buying in Romsey?
Romsey conveyancing often commences with the submitting local authority searches directly from your local Authority or through a personal search organisations such as Searchflow The local search is essential in every Romsey conveyancing purchase; that is if you wish to avoid any unpleasant once you have moved into your property. The search should provide information on, amongst other things, details on planning applications applicable to the property (whether granted or refused), building control history, any enforcement action, restrictions on permitted development, nearby road schemes, contaminated land and radon gas; in all a total of thirteen topic sections.
How do I identify a Romsey solicitor on the Barnsley Building Society conveyancing panel? I am a keen cyclist and am prepared to travel upto 25kilometers to meet the lawyer.
Feel free to make use of the tool on this website. Please choose the mortgage company and your location and you will see a number of Romsey conveyancing lawyers based on proximity. We have listed some Romsey conveyancing firms towards the end of this page and you can ring them to see if they are on the Barnsley Building Society panel
Back In 2003, I bought a leasehold flat in Romsey. Conveyancing and Lloyds TSB Bank mortgage are in place. I have received a letter from someone saying they have taken over the freehold. It included a ground rent demand for rent dating back to 1991. The conveyancing practitioner in Romsey who previously acted has long since retired. What should I do?
The first thing you should do is contact the Land Registry to be sure that the individual purporting to own the freehold is indeed the registered owner of the freehold reversion. It is not necessary to incur the fees of a Romsey conveyancing lawyer to do this as it can be done on-line for less than a fiver. You should note that in any event, even if this is the rightful landlord, under the Limitation Act 1980 the limitation period for recovery of ground rent is six years.
Romsey Conveyancing for Leasehold Flats - Examples of Questions you should ask before buying
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Please note if it is no more than 80 years it will affect the value of the flat. It is worth checking with your mortgage company that they are content with remaining years on the lease. Leases with less than 80 years remaining means that you will most likely need a lease extension sooner rather than later and you need to have some idea of what this would cost. Remember, in most cases you will be required to have been the owner of the premises for two years before you are entitled to exercise a lease extension. Be sure to discover if there are any onerous prohibitions in the lease. For example plenty of leases prohibit pets being permitted in certain buildings in Romsey. If you love the flatin Romsey however your cat is not allowed to move with you then you have a very difficult compromise. On the whole the cost for major works tend not to be wrapped into the maintenance charges, although a few managing agents in Romsey obliged tenants to contribute towards a reserve fund and this is used to offset against larger works.
My 20yr old son is just in the process of moving house, the home loan was agreed last week in principle. After the seller agreed the offer on the apartment we called the bank to move forward with his. I was very surprised to discover that mortgage lenders do not accept all conveyancer, they have to be on a list, is this right?
Lenders tend to imposes restrictions either the type or the number of conveyancing practices on their approved list of lawyers. Typical examples of such restriction(s) being that a firm must have two or more partners. In addition to restricting the type of firm, some have decided to limit the number of firms they use to represent them. You should note that lenders have no responsibility for the quality of advice provided by any Romsey conveyancing practitioner on their panel. Mortgage fraud was a key driver in the rationalisation of conveyancing panels a few years ago and whilst there are differing views about the extent of solicitor involvement in some of that fraud. Statistics from the Land Registry reveal that thousands of law firms only carry out one or two conveyances a year. Those supporting conveyancing panel cuts ask why law firms should have the right to be on a Lender panel when clearly, conveyancing is not their speciality. To put it another way; would you want a conveyancing solicitor to represent you if you were charged with a crime? Presumably not.