I was notified yesterday by my mortgage adviser that my Thorpe St Andrew the law firm I have appointed is not on the bank Solicitor panel. What can I do to be sure if this is correct?
The sensible course of action for you to take is to contact your Thorpe St Andrew lawyer directly. It is reasonable to expect your lawyer to advise you of the situation. Where they are not on the panel they could put your in touch with solicitors on the conveyancing panel for your mortgage company.
We wanted to use a conveyancing solicitor in Thorpe St Andrew for our house move. Our broker has since advised us that our mortgage lenders Birmingham Midshires won't deal with them. Surely this is unduly restrictive?
Lenders in the main imposes restrictions either the category or the number of conveyancing firms on their member panel. A common example of such restriction(s) being that a law practice must not be a sole practitioner. As well as restricting the profile of firm, a few banks have reduced the amount of solicitor practices they permit to act for them. You should note that Birmingham Midshires have no responsibility for the quality of advice provided by any member of Birmingham Midshires Conveyancer Panel. Mortgage fraud was a key driver in the rationalisation of solicitor panels since 2008 even though there remains mixed opinions regarding the extent of solicitor engagement in some of that fraud. Figures from the Land Registry reveal that plenty of law firms, including some in or near Thorpe St Andrew only carry out very few conveyances a year.
I can see plenty of information on this site regarding conveyancing in Thorpe St Andrew but what is your top tip for choosing the right conveyancer in Thorpe St Andrew
It would be unwise to be swayed by the lowest Thorpe St Andrew conveyancing costs illustration. You really do get what you’re paying for when it comes to conveyancing solicitors. A cheap quote may mean that the conveyancing solicitor is handling a lot of jobs at one time and you won’t get the quality of service and the attention that you need. It is, however, wise to use a conveyancer who has a fixed fee on a no sale, no fee basis. This way, you know exactly what you’ll have to pay in ahead of the deal.
I just bought a house at auction in Thorpe St Andrew. Conveyancing is required. What is next?
Having exchanged you now have to instruct a conveyancing solicitor as a matter of urgency as you will have a tight deadline in which to complete the transaction. An auction property will have a bespoke legal pack. This will include most,if not all of the documents that your conveyancer will need. Where you are dealing with leasehold premises the legal papers should include a copy of the lease, management information and a sellers leasehold information form and associated conveyancing documentation pertinent to leasehold premises. You must give this to your appointed conveyancing solicitor as soon as possible. Do make sure that your finances are in place to complete on the on the contractual date .
We are getting a further advance on our mortgage from UBS as we intend to carry out improvements to our house in Thorpe St Andrew. Are we obliged to appoint a bricks and mortar Thorpe St Andrew solicitor on the UBS conveyancing panel to deal with the paperwork?
UBS would not normally require firms on their conveyancing panel to handle the formalities. If they do require any legal work then you would need to ensure that such a lawyer was on the UBS conveyancing panel.
I have been on the look out for a leasehold apartment up to £245,000 and found one close by in Thorpe St Andrew I like with a park and station in the vicinity, the downside is that it only has 61 years unexpired on the lease. There is not much else in Thorpe St Andrew in this price bracket, so just wondered if I would be making a mistake buying a short lease?
Should you need a home loan the shortness of the lease will likely be an issue. Discount the offer by the expected lease extension will cost if not already taken into account. If the current proprietor has owned the premises for a minimum of twenty four months you may ask them to commence the lease extension formalities and then assign it to you. An additional ninety years can be extended on to the current lease term and have £0 ground rent by law. You should consult your conveyancing solicitor concerning this.
I'm converting the mortgage on my primary home to a BTL loan with Skipton Building Society and I will use the ballance of the raised equity as a deposit on further property. The location we are looking at is Thorpe St Andrew. Will your solicitors be able to act for the two mortgage companies and link together the conveyances?
Do use our comparison tool on this site to ensure that the lawyers are on the relevant lender panels. Assuming that they are your solicitor will be able to simultaneously deal with the two transactions but you should have a chat with you conveyancer and make clear your desired outcome and needs.
Do you have any advice for leasehold conveyancing in Thorpe St Andrew with the intention of saving time on the sale process?
- Much of the delay in leasehold conveyancing in Thorpe St Andrew can be reduced where you appoint lawyers as soon as your agents start marketing the property and ask them to put together the leasehold documentation which will be required by the purchasers’ lawyers. A minority of Thorpe St Andrew leases require Landlord’s consent to the sale and approval of the buyers. If this applies to your lease, it would be prudent to notify your estate agents to make sure that the purchasers put in hand bank and professional references. The bank reference will need to confirm that the buyers are financially capable of paying the yearly service charge and the actual amount of the service charge should be quoted in the bank’s letter. You will therefore need to provide your estate agents with the service charge figures so that they can pass this information on to the buyers or their lawyers. Many landlords or managing agents in Thorpe St Andrew charge for supplying management packs for a leasehold property. You or your lawyers should find out the fee that they propose to charge. The management information can be applied for on or before finding a buyer, thus reducing delays. The average time it takes to receive management information is three weeks. It is the most frequent reason for delay in leasehold conveyancing in Thorpe St Andrew. You may think that you are aware of the number of years remaining on your lease but you should verify this via your conveyancers. A purchaser's conveyancer will be unlikely to recommend their client to where the lease term is below 75 years. In the circumstances it is important at an as soon as possible that you identify whether the lease term for your property needs extending. If it does, contact your solicitors before you put your property on the market for sale.
I bought a studio flat in Thorpe St Andrew, conveyancing was carried out August 1999. Can you please calculate a probable premium for a statutory lease extension? Similar flats in Thorpe St Andrew with a long lease are worth £180,000. The average or mid-range amount of ground rent is £65 yearly. The lease ceases on 21st October 2083
With 59 years remaining on your lease we estimate the price of your lease extension to range between £20,900 and £24,200 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 supply a more accurate figure without more detailed investigations. Do not use the figures in tribunal or court proceedings. There are no doubt additional concerns that need to be considered and you obviously should be as accurate as possible in your negotiations. You should not move forward based on this information without first getting professional advice.