Is the fact that my solicitor in Southampton is not on my lender's conveyancing panel that there is a problem with the quality of the firm’s conveyancing?
That would most likely be a wrong assumption to make. There are plenty of plausible explanations. A recent report by the solicitors regulator indicated that over three quarters of law firms surveyed had been removed from at least one lender panel. The top 5 reasons are as follows: (1) low volume 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. Where you are concerned you should contact the Southampton conveyancing practice and enquire why they are no longer on the approved list for your mortgage company.
AssumingI was to acquire a straightforward propertyin Southampton mortgage fee and have no survey and no local authority searches how much should I expect to have to pay for conveyancing in Southampton?
Any savings you would gain would be limited to the disbursement for searches. A property lawyer is required to do the vast majority of work - money laundering, liaising with the vendors conveyancer, SDLT return, register the title etc. A slight saving might be made by not having to register a mortgage however it will not be significant.
As a first time buyer what is the most important piece of guidance you can give me regarding purchase conveyancing in Southampton?
You may not hear this from too many lawyers but conveyancing in Southampton and elsewhere in England and Wales is an adversarial experience. Put another way, when it comes to conveyancing there exists an abundance of room for confrontation between you and other parties involved in the transaction. For example, the vendor, estate agent and sometimes the lender. Selecting a lawyer for your conveyancing in Southampton should not be taken lightly as your conveyancer is your adviser, and is the SOLE party in the transaction whose interest is to act in your best interests and to protect you.
Every so often a potential adversary may attempt to convince you that it is in your interests to do things their way. For instance, the estate agent may claim to be assisting by suggesting your lawyer is slow. Or your financial adviser may advise you to do something that is contrary to your conveyancers advice. You should always trust your lawyer above all other parties in the home moving process.
My property lawyer in Southampton has never been on on the Yorkshire Building Society Conveyancing Panel. Can I still retain my prefered solicitor notwithstanding that they are excluded from the Yorkshire Building Society approved list?
Your options are as follows:
- Carry on with your existing Southampton solicitors but Yorkshire Building Society will need to use a lawyer on their panel. This will result in additional overall legal charges as well as result in frustration.
- Choose an alternative practitioner to act in the conveyancing, remembering to check they are Persuade your lawyer to use their best endeavours to join the Yorkshire Building Society conveyancing panel
I purchased a semi-detached Edwardian house in Southampton. Conveyancing practitioner represented me and Lloyds TSB Bank. I did a free Land Registry search last week and there are two entries: the first freehold, another for leasehold under the matching address. Is it worth asking Lloyds TSB Bank to clarify?
You need to assess the Freehold register you have again and check the Charges Register as there may be mention of a lease. The best way to be sure that you are also the registered owner of the leasehold and freehold title as well is to check (£3). It is not completely unheard of in Southampton and other areas of the country and poses no real issues for owners other than when they buy they have to account for both freehold and leasehold interests when dealing with mortgage companies. You can also enquire as to the position with your conveyancing solicitor who conducted the purchase.
I have recently realised that I have 62 years left on my flat in Southampton. I am keen to get lease extension but my landlord is missing. What options are available to me?
On the basis that you meet the appropriate requirements, under the Leasehold Reform, Housing and Urban Development Act 1993 you can submit an application to the County Court for for permission to dispense with the service of the initial notice. This will mean that your lease can be lengthened by the magistrate. However, you will be required to prove that you or your lawyers have done all that could be expected to find the landlord. On the whole an enquiry agent would be useful to carry out a search and prepare an expert document to be used as evidence that the landlord can not be located. It is advisable to get professional help from a solicitor in relation to devolving into the landlord’s disappearance and the vesting order request to the County Court covering Southampton.
I bought a leasehold flat in Southampton, conveyancing having been completed 3 years ago. Can you work out an approximate cost of a lease extension? Similar properties in Southampton with over 90 years remaining are worth £211,000. The ground rent is £45 yearly. The lease expires on 21st October 2092
With only 67 years left to run we estimate the premium for your lease extension to range between £10,500 and £12,000 plus legals.
The suggested premium range above a general guide to costs for renewing a lease, but we cannot give you the actual costs in the absence of comprehensive investigations. Do not use this information in a Notice of Claim or as an informal offer. There may be additional issues that need to be considered and clearly you want to be as accurate as possible in your negotiations. Neither should you move forward based on this information before seeking the advice of a professional.