I am nearing exchange of contracts for my ground floor flat in Shirehampton and the estate agent has just e-mailed to say that the buyers are swapping property lawyer. The excuse is that the lender will only engage with property lawyers on their conveyancing panel. Why would a leading mortgage company only work with certain law firms rather the firm that they want to choose to handle their conveyancing in Shirehampton ?
Lenders have always had an approved set of law firms they are content to work with, but in the last few years big names such as Nationwide, have considered and reduced their conveyancing panel– in some cases removing conveyancing firms who have acted for them for more than 25 years.
Mortgage companies point to the increase in fraud by way of justification for the pruning – criteria have been tightened as a smaller panel is easier to keep an eye on. Banks tend not to reveal how many solicitors have been dropped, claiming the information is commercially sensitive, but the Law Society says it is hearing daily from firms that have been removed from panels. Plenty of firms are unaware that they have been dropped until contacted by a borrower who has instructed them as might be the situation in your buyers' case. The purchasers are not going to have any impact on this.
We hope to to buy with Earl Shilton BS. We have called around locally but am struggling to find a Shirehampton conveyancing firm on the Earl Shilton BS approved list. Can you assist?
Feel free to make use of the find a conveyancing panel solicitor tool on this page. Please choose the mortgage company and type Shirehampton or your location and you will see numerous conveyancers offices in Shirehampton or nearest you.
I am helping my step-mother sell her property in Shirehampton. Will the conveyancing solicitor commission an EPC or it is for the seller to see to?
Following the abolition of HIPs, energy performance certificates became a required element of selling a house. An EPC must be commissioned prior to the property being placed on the market. It is not as aspect of the sale process that law firms ordinarily arrange. If you are instructing a Shirehampton conveyancing solicitor they may be able to arrange energy performance certificates given their contacts with reputable local energy assessors
The formalities of my remortgage has taken place for my property in Shirehampton. Conveyancing was of an acceptable standard but I would like to complain about the lender. How does one go about formally complaining?
Almost all lenders have complaints procedures. Your first point of contact should be one of the lender’s branches or the Customer Services Team at head office. In most cases complaints to a lender are sorted out effectively and efficiently. If you feel the matter is not resolved you can write to Financial Ombudsman Service who will take matters further.
I am selling my apartment. I had a double glazing fitted in February 2007, but did not receive a FENSA certificate or Building Regulation Certificate. My buyer's lender, HSBC are being problematic. The Shirehampton solicitor who is on the HSBC conveyancing panel is recommending indemnity insurance as a solution but HSBC are requiring a building regulation certificate. Why do HSBC have a conveyancing panel if they don't accept advice from them?
It is probably the case that HSBC have referred the matter to their valuer. The reason why HSBC may not want to accept indemnity insurance is because it does not give them any reassurance that the double glazing was correctly and safely installed. The indemnity insurance merely protects against enforcement action which is very unlikely anyway.
I decided to have a survey completed on a property in Shirehampton before retaining lawyers. I have been informed that there is a flying freehold element to the house. Our surveyor advised that some lenders may refuse to give a loan on this type of property.
It depends who your proposed lender is. Lloyds has different requirements from Halifax. If you e-mail us we can check via the relevant mortgage company. If you lender is happy to lend one our lawyers can help as they are accustomed to dealing with flying freeholds in Shirehampton. Conveyancing may be slightly more expensive based on your lender's requirements.
I am a sole trader intending to lease a unit on a shopping parade. Can you recommend conveyancers offering no-sale-no charges for commercial conveyancing in Shirehampton for under 2k?
We can recommend firms who host a wealth of experience of commercial conveyancing in Shirehampton, including the sale and purchase of businesses as well as simply premises. If you are hoping to acquire or dispose of a shop, pub, restaurant, office, retail premises or a complete business we can find you the right lawyer. Regarding the costs this will depend on the structure and complexity of the proposed transaction. Please provide us with your details or telephone so as to enable us to supply you with a detailed commercial conveyancing quote.
Looking forward to sign contracts shortly on a ground floor flat in Shirehampton. Conveyancing lawyers inform me that they are sending me a report next week. What should I be looking out for?
The report on title for your leasehold conveyancing in Shirehampton should include some of the following:
Specifying your rights in relation to common areas in the building.By way of example, does the lease include a right of way over an accessway or staircase? Alterations to the premises Are you allowed to have a pet in the flat? if lease caters for for a reserve fund? The length of the lease term. You should be advised as what happens when the lease ends, and informed of the importance of the 80 year mark
I purchased a 1 bedroom flat in Shirehampton, conveyancing formalities finalised 5 years ago. Can you work out an approximate cost of a lease extension? Comparable flats in Shirehampton with over 90 years remaining are worth £180,000. The ground rent is £65 invoiced every year. The lease runs out on 21st October 2080
You have 59 years left to run we estimate the price of your lease extension to be between £20,900 and £24,200 as well as legals.
The figure that we have given is a general guide to costs for renewing a lease, but we are not able to advice on the actual costs in the absence of comprehensive due diligence. You should not use this information in tribunal or court proceedings. There are no doubt additional concerns that need to be taken into account and you obviously should be as accurate as possible in your negotiations. Neither should you move forward based on this information without first getting professional advice.