I am in the process of selling my ground floor flat in Tadley and the estate agent has just e-mailed to say that the buyers are swapping law firm. The excuse is that the lender will only deal with property lawyers on their approved list. Why would a major mortgage company only engage with specific solicitors rather the firm that they want to appoint to handle their conveyancing in Tadley ?
Banks 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 HSBC, have considered and reduced their conveyancing panel– in some cases removing conveyancing firms who have represented them for many years.
Banks point to the increase in fraud by way of justification for the pruning – criteria have been stiffened as a smaller panel is easier to oversee. Banks tend not to reveal how many solicitors have been dropped, claiming the information is commercially sensitive, but the Law Society claims that it is hearing daily from firms that have been removed from panels. Some do not even realise they have been dropped until contacted by a borrower who has instructed them as might be the situation in your buyers' case. Your purchasers are unlikely to have any sway in the decision.
AssumingI were to acquire a simple residential homein Tadley for cash and dispense with a survey and no local authority searches how much should I expect to to save on my conveyancing in Tadley?
The sole saving you would make on is the costs for searches. A lawyer is required to do the vast majority of work - money laundering, liaising with your sellers property lawyer, SDLT submission, register the ownership etc. You might save a bit for them not having to register a charge but it will not be a lot.
Completed the sale of my flat in Tadley last November yet the purchaser is calling me to say her lawyer is waiting to hear from mysolicitor. What should my lawyer have done following completion?
Following your disposal your conveyancer should forward the transfer documentation and all supplemental paperwork to the purchaser's solicitors. Depending on the transaction, your conveyancer must also send confirmation that the home loan has been discharged to the purchasers solicitors. There are no post completion formalities specific conveyancing in Tadley.
It has been 2 months following my purchase conveyancing in Tadley concluded. I have checked the Land Registry website which shows that I paid £150,000 when infact I paid £215,000. Why the discrepancy?
The price paid figure is taken from the application to register the purchase. It is the figure included in the Transfer (the legal deed which transfers the property from one person to the other) and referred to as the 'consideration' or purchase price. You can report an error in the price paid figure using the LR online form. In most cases errors result from typos so at first glance the figure. Do report it so they can double check and advise.
I am looking for a ground for flat up to £195,000 and identified one close by in Tadley I like with open areas and station in the vicinity, however it's only got 51 remaining years left on the lease. There is not much else in Tadley in this price bracket, so just wondered if I would be making a mistake buying a short lease?
If you require a home loan that many years will likely be an issue. Discount the price by the amount the lease extension will cost if not already taken into account. If the existing owner has owned the property for a minimum of 2 years you can request that they start the process of the extension and pass it to you. An additional ninety years can be extended on to the current lease with a zero ground rent applied. You should consult your conveyancing lawyer regarding this matter.
My business partner and I are hoping to take an assignment of a lease of an office on a shopping parade. Can you recommend lawyers offering competitive charges for commercial conveyancing in Tadley for less than 1500k?
We can recommend firms who have well rounded knowledge of commercial conveyancing in Tadley, including the disposal and acquisition of businesses as well as simply premises. If you are hoping to buy or lease a shop, pub, restaurant, office, retail premises or a complete business we will put you in touch with the right solicitor. As for the charges this will depend on the structure and nuances of the proposed transaction. Please provide us with your contact information or call so as to enable us to furnish you with a detailed commercial conveyancing quote.