We just had an offer accepted to purchase with Loughborough BS. I went into a few high street solicitors yet am unable to find a Somerstown conveyancing firm on the Loughborough BS approved list. Can you assist?
Feel free to make use of the search tool on this page. Pick the mortgage company and type Somerstown or your location and you will see a number of lawyer based in Somerstown or by proximity to you.
My bid for a property was accepted at auction in Somerstown. Conveyancing is needed. What happens now?
Having legally bound yourself to purchase you will need to retain a conveyancing practitioner soon as you are facing a fast approaching a fixed date to complete the conveyancing. Every auction property will ordinarily have a corresponding legal pack. This will likely include the copy title deeds, local authority and drainage searches. In the case of leasehold property the auction papers may contain a copy of the lease, management information and a sellers leasehold information form and other conveyancing paperwork relating to a leasehold property. You must give this to your appointed conveyancing solicitor at the earliest opportunity. You also need to ensure that you have funds in place to complete on the date specified in the contract.
When it comes to mortgage companies such as HSBC, do Somerstown property lawyers have to pay a fee to be on the conveyancing panel?
We are not aware of any mortgage company fees to register on their panel, although some do charge an administration charge to deal with the processing of the conveyancing panel submission.
We are getting a further advance on our mortgage from Kent Reliance as we want to carry out alterations to our home in Somerstown. Do we need to appoint a local Somerstown solicitor on the Kent Reliance conveyancing panel to handle the legals?
Kent Reliance do not ordinarily appoint firms on their approved list of lawyers to deal with such a matter. If they do require any legal work then you would need to ensure that such a lawyer was on the Kent Reliance conveyancing panel.
I am looking into buying my first house which is in Somerstown and I am already nervous. I couldn't find anything specific about Somerstown. Conveyancing will be needed in due course but do you know about the Somerstown area? or perhaps some other tips you can share?
Rather than looking online forget looking online you should go and have a look at Somerstown. In the meantime here are some basic statistics that we found
We're first time buyers - agreed a price, but the property agent told us that the seller will only move forward if we instruct their chosen lawyers as they are insisting on a ‘quick sale’. Our preferred option is to instruct a local solicitor who is familiar with conveyancing in Somerstown
It is improbable the owners are behind this. If they require ‘a quick sale', taking such a hostile approach to a serious buyer is going to damage their objectives. Bypass the agents and go straight to the owners and make the point that (a)you are motivated purchasers (b)you are ready to go, with mortgage lined up © you are unencumbered (d) you wish to move quickly (e)but you intend to use your own,trusted Somerstown conveyancing lawyers - as opposed tothose that will give their estate agent a commission or hit his conveyancing figures pre-set by senior management.
Can you provide any advice for leasehold conveyancing in Somerstown with the purpose of speeding up the sale process?
- A significant proportion of the frustration in leasehold conveyancing in Somerstown can be bypassed if you instruct lawyers the minute your agents start advertising the property and ask them to collate the leasehold information which will be required by the buyers’ solicitors. If you have carried out any alterations to the residence would they have required Landlord’s approval? Have you, for example laid down wooden flooring? Most leases in Somerstown state that internal structural changes or addition of wooden flooring require a licence from the Landlord approving such alterations. Should you fail to have the paperwork in place you should not contact the landlord without checking with your solicitor in the first instance. The majority of freeholders or Management Companies in Somerstown levy fees for providing management packs for a leasehold home. You or your lawyers should discover the fee that they propose to charge. The management information can be applied for as soon as you have a buyer, thus accelerating the process. The typical amount of time it takes to obtain the necessary information is three weeks. It is the most common reason for frustration in leasehold conveyancing in Somerstown. If you have had any disputes with your landlord or managing agents it is very important that these are settled before the property is put on the market. The purchasers and their solicitors will be warry about purchasing a flat where there is an ongoing dispute. You will have to accept that you will have to discharge any arrears of service charge or resolve the dispute prior to the buyers completing the purchase. It is therefore preferable to have any dispute settled ahead of the contract papers being issued to the buyers’ solicitors. You are still duty bound to disclose particulars of the dispute to the buyers, but it is better to present the dispute as historic as opposed to unresolved. If you have the benefit of shareholding in the freehold, you should make sure that you are holding the original share certificate. Organising a replacement share certificate can be a lengthy formality and frustrates many a Somerstown conveyancing deal. Where a reissued share certificate is necessary, do contact the company director and secretary or managing agents (where applicable) for this as soon as possible.
I have had difficulty in trying to purchase the freehold in Somerstown. Can this matter be resolved via the Leasehold Valuation Tribunal?
Most certainly. We can put you in touch with a Somerstown conveyancing firm who can help.
An example of a Lease Extension matter before the tribunal for a Somerstown residence is Flat 120, Clare Court Judd Street in August 2013. the Tribunal held that the premium to be paid for the extension of the lease should be £64,650 This case affected 1 flat. The unexpired lease term was 62.79 years.
My wife and I are acquiring a first floor flat in Somerstown. When we first instructed conveyancing practitioner, they told us that they were on all mainstream mortgage company panels. The mortgage broker called yesterday to advise that they are not on the Santander approved list. If it turns out to be true, what should we do? Do we simply pick a new property lawyer that is on their approved list or do we pay for dual representation, with Santander selecting their own preferred conveyancing practitioner.
When buying a property with mortgage finance it is conventional for the purchaser’s solicitors to also act for the mortgage company. In order to act for a bank or building society a conveyancer has to be on that lender's conveyancing panel. An application has to be made by the lawyer to the lender to become a member of the lender's panel and there are increasingly strict criteria which the conveyancer has to meet. Some banks now require their panel members to be part of the Law Society’s Conveyancing Quality Scheme. Your property lawyer should contact Santander to find out if they can apply for membership of their conveyancing panel, but if that is not viable they will instruct their own solicitors to act. You are not legally obliged to appoint a law firm on Santander's conveyancing panel as you are at liberty to use your preferred Somerstown lawyers, in which case your legal fees may increase, and it will likely delay the transaction as you are adding another solicitor into the equation.