What happens if my lawyer’s firm is suspended from the Yorkshire BS Solicitor panel ahead of completing my conveyancing in Thame?
The first thing to point out is that, this is a very rare occurrence. In most cases even where a law firm is removed off of a panel the lender would allow the completion to go ahead as the lender would appreciate the difficulties that they would place you in if you have to instruct a new solicitor days before completion. In a worst case scenario where the lender insists that you instruct a new firm then it is possible for a very good lawyer to expedite the conveyancing albeit that you may pay a significant premium for this. The analogous situation is where a buyer instructs a lawyer, exchanges contracts and the law firm is shut down by a regulator such as the SRA. Again, in this situation you can find lawyers who can troubleshoot their way to bring the conveyancing to a satisfactory conclusion - albeit for a fee.
My stepmother advised me that in buying a property in Thame there could be various restrictions prohibiting external changes to a property. Is this right?
There are a number of properties in Thame which have some sort of restriction or requirement of consent to execute external variations. Part of the conveyancing in Thame should determine what restrictions are applicable and advising you as part of a ROT that should be sent to you.
is it true that all Thame solicitor firms on the Yorkshire BS conveyancing panel are overseen by the Solicitors Regulatory Authority?
As solicitors, in order to be on the Yorkshire BS conveyancing panel they would need to be regulated by the SRA. Some mortgage companies do allow licenced conveyancers on their panel in which case such organisation would be regulated by the CLC.
I have paid off my mortgage with HSBC. I assume I don't need a Thame conveyancer on the HSBC panel to remove the mortgage at the Land Registry. Please confirm.
If you have finished paying off your HSBC mortgage, they may send you evidence showing that you have paid it off. Alternatively they may notify the Land Registry directly. The Land Registry need to see this evidence before they will remove the HSBC mortgage from the register. HSBC, and any evidence they send you, will determine the action you need to take. In cases where no conveyancer is acting for you and you have paid off your mortgage:
- but are not moving to another property
- where HSBC has sent the Land Registry the discharge electronically, and
- HSBC has instructed the Land Registry to do so
A colleague recommended that where I am purchasing in Thame I should carry out a Neighbourhood, Planning and Local Amenity Search. What does it cover?
This is a search is occasionally quoted for as part of the standard Thame conveyancing searches. It is not a small document of about 40 pages, listing and detailing significant information about Thame around the property and the people living there. It incorporates an Aerial Photograph, Planning Applications, Land Use, Mobile Phone Masts, Rights of Way, the Thame Housing Market, Council Tax Banding, the demographics of People living in the area, the dominant type of Housing, the Average House Prices, Crime statistics, Thame Education with plans and statistics, Local Amenities and other useful information concerning Thame.
I used Wolstenholmes several years past for my conveyancing in Thame. I now require my file but the law firm has closed. What do I do?
You should contact the Solicitors Regulatory Authority (SRA) to help locate your conveyancing files. They can be contacted on please contact on 0870 606 2555. Alternatively, you should use their online form to make an enquiry. You will need to provide the SRA with as much information as possible to assist their search, including the name and address in Thame of the conveyancing firm of solicitors you previously hired, the name of conveyancing solicitor with whom you had dealings, and the date on which you last had dealings with the firm.
Yesterday I discovered that there is a flying freehold issue on a property I have offered on a fortnight ago in what should have been a simple, chain free conveyancing. Thame is the location of the property. Is there any guidance you can give?
Flying freeholds in Thame are rare but are more likely to exist in relation to terraced houses. Even though you don't necessarily need a conveyancing solicitor in Thame you would need to get your solicitor to go through the deeds diligently. Your mortgage company may require your conveyancing solicitor to take out an indemnity policy. Some of the more diligent conveyancing solicitors in Thame may decide that this is not enough and that the deeds be re-written to give you the most up to date legal protection. If so, the next door neighbour also had to sign up to the revised deeds.It is possible that your lender will not accept the situation so the sooner you find out the better. You should also check with your insurance broker as to whether they will insure a flying freehold residence.
I am hoping to exchange soon on a basement flat in Thame. Conveyancing solicitors assured me that they will have a report out to me tomorrow. What should I be looking out for?
The report on title for your leasehold conveyancing in Thame should include some of the following:
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The landlord’s rights to access the premises. You should be made aware that your landlord has rights of access as well as be informed how much notice must be provided. You should know if the lease permits you to alter or upgrade aspects of the flat- you should be made aware as to whether it applies to all alterations or limited to structural alteration, and whether consent is mandated necessary Whether the lease restricts you from letting out the flat, or having a home office for business What the implications are if you are in breach of your lease terms?
I acquired a leasehold flat in Thame, conveyancing was carried out 5 years ago. Can you let me have an estimated range of the fair premium for a lease extension? Corresponding flats in Thame with an extended lease are worth £176,000. The ground rent is £50 per annum. The lease expires on 21st October 2104
You have 80 years left to run we estimate the price of your lease extension to range between £7,600 and £8,800 as well as plus your own and the landlord's "reasonable" professional fees.
The suggested premium range above a general guide to costs for extending a lease, but we are not able to advice on a more accurate figure in the absence of comprehensive investigations. You should not use this information in a Notice of Claim or as an informal offer. There are no doubt other concerns that need to be taken into account and clearly you should be as accurate as possible in your negotiations. You should not move forward based on this information before getting professional advice.