Am I correct in assuming that the fact that my solicitor in Ryde is not on my bank's solicitor panel that there is a problem with the quality of his work?
That is more than likely an incorrect assumption to make. There are all sorts of perfectly plausible explanations. Just recently a report by the solicitors regulator revealed that over three quarters of law firms surveyed had been removed from at least one lender panel. The most common reasons for removal are: (1) low volume of transactions (2) the solicitor 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 Ryde conveyancing practice and enquire why they are no longer on the approved list for your bank.
My fiance and I are buying a purpose built flat in Ryde with a residential mortgage from Accord Mortgages Ltd.We would like to retain our Ryde conveyancing solicitor but Accord Mortgages Ltd informed us he's not listed on their approved list of member firms. we are left little option but to use a Accord Mortgages Ltd panel lawyer or keep our local solicitor and fork out for one of their panel ones to represent them. We feel as though this is unjust; is there anything we can do?
No, not really. The loan offered to you contains terms and conditions, a common one being that solicitors must be on the Accord Mortgages Ltd solicitor panel. Until recently, most lenders had large numbers of solicitors on their panels: a borrower could choose one for themselves, as long as it was on the lender's panel. The lender would then simply instruct the borrower's lawyers to act for the lender, too. You can use your lender's panel lawyers or you could borrow from another lender which does not restrict your choice. Another option that might be available is for your lawyer to apply to be on the conveyancing panel for Accord Mortgages Ltd
Despite weeks of looking the Title Certificate and documents to our property can not be found. The lawyers who conducted the conveyancing in Ryde 4 years ago no longer exist. What are my next steps?
You no longer need to hold title official documentation to prove you are the registered proprietor of land or premises, given that the Land Registry have everything they need in a digital format.
I am buying a new build apartment in Ryde. Conveyancing is a frightening process at the best of times but I have never purchased a new build flat before. What sort of enquires would be asked in new build legal work.
Here are examples of a selection of leasehold new build questions that you may expect your new-build leasehold conveyancing in Ryde
Will control of the Management Company (if any) be handed over to purchasers on completion of the last sale or earlier? Where service of notices and proceedings can be at the property demised please confirm that this can be amended to include simultaneous services at the Lessees’ solicitors’ offices where the Lessee from time to time is not resident in the UK - such solicitors may be varied by notice in writing to the Landlord from time to time but otherwise will be as previously specified. The Landlord must covenant to assume the management if the Management Company goes into liquidation or otherwise defaults in running the management scheme. There must be mutual enforceability of lessee’s covenants. Please supply a car parking plan.
I have been on the look out for a ground for flat up to £245,000 and identified one round the corner in Ryde I like with a park and transport links nearby, however it's only got 51 remaining years left on the lease. There is not much else in Ryde for this price, so just wondered if I would be making a grave error purchasing a short lease?
If you need a mortgage the remaining unexpired lease term will be problematic. Discount the offer by the anticipated lease extension will cost if not already taken into account. If the current proprietor has owned the property for a minimum of twenty four months you can request that they start the process of the extension and pass it to you. You can add 90 years to the existing lease with a zero ground rent applied. You should consult your conveyancing solicitor regarding this matter.
I have just appointed agents to market my ground floor flat in Ryde. Conveyancing is yet to be initiated, however I have recently received a yearly service charge invoice – should I leave it to the buyer to sort out?
It best that you clear the service charge as you normally would given that all ground rent and service payments will be apportioned as part of the financial calculations for completion monies, so you should recover the relevant percentage by the buyer for the period running from after the completion date to the subsequent invoice date. Most managing agents will not acknowledge the buyer until 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.
Leasehold Conveyancing in Ryde - A selection of Questions you should ask before Purchasing
Are there any major works in the near future that will add a premium to the maintenance costs? This question is useful as a) areas may result in problems in the building as the common areas may begin to deteriorate if services are not paid for b) if the leasehold owners have a dispute with the managing agents you will need to know about it What prohibitions exist in the Ryde Lease?