Am I correct in assuming that the fact that my solicitor in Thurrock is not identified on my mortgage company's solicitor panel that there is a problem with the quality of the firm’s conveyancing?
That is more than likely a wrong assumption to make. There are plenty of plausible explanations. A recent report by the solicitors regulator indicated 76% 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. Should you be concerned you should contact the Thurrock conveyancing practice and ask them why they are no longer on the approved list for your bank.
I have a decision in principle. The bank mentioned the loan came with free conveyancing. Is the implication that I have to use their panel conveyancer as I would prefer to appoint a Thurrock based conveyancing firm?
You should check but the chances are that appoint one of their panel solicitors should you accept the "fee-free" deal. Call the mortgage company and determine if they make available a cash alternative. It is not unheard for a lender to give a £250 cashback as an alternative in which case that money can go towards your preferred conveyancing solicitor in Thurrock.
Will commercial conveyancing searches reveal proposed roadworks that may impact a commercial land in Thurrock?
Its becoming the norm that commercial conveyancing solicitors in Thurrock will carry out a SiteSolutions Highways report as it dramatically cuts the time that conveyancers invest in researching accurate data on highways that impact buildings and development assets in Thurrock. The report provides definitive data on the adoption status of roads, footpaths and verges, as well as the implication of traffic schemes and the rights of way surrounding a commercial development sites in Thurrock.
For every commercial conveyancing transaction in Thurrock it is critical to investigate the adoption status of roads surrounding a site. The absence of identifying developments where adoption procedures have not been dealt with adequately could result in delays to Thurrock commercial conveyancing deals as well as present a risk to future plans for the site. These searches are not carried out for residential conveyancing in Thurrock.
I own a renovated Edwardian property in Thurrock. Conveyancing solicitor acted for me and TSB. I happened to do a free search for it on the Land Registry database and there are a couple of entries: the first freehold, another for leasehold under the exact same property. If a house is not a freehold shouldn't I have been informed?
You need to read 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 proprietor of the leasehold and freehold title as well is to check (£3). It is not completely unheard of in Thurrock and other locations in the country and poses no real issues for owners other than when they remortgage they have to account for both freehold and leasehold interests when dealing with buyers. You can also enquire as to the position with the conveyancing practitioner who completed the work.
I am purchasing a new build house in Thurrock benefiting from help to buy. The builders would not reduce the price so I negotiated 6k of extras instead. The property agent advised me not disclose to my conveyancer about the extras as it may adversely affect my mortgage with the bank. Do I keep my lawyer in the dark?.
All lenders require a Disclosure of Incentives Form from the builder of any new build, converted or renovated property, It is available online from the Lenders’ Handbook page on the CML website. CML form is completed and handed to the lender's surveyor when the inspection is done.
Lenders have different policies on incentives. Some accept none at all, cash or physical, while others will accept cash incentives up to 5%.
Hard to understand why the representative of a builder would be suggesting you withold information from a solicitor when all this will be clearly visible on forms the builder has to supply to its solicitor, the buyer's solicitor and the surveyor.
I am intending to sublet my leasehold flat in Thurrock. Conveyancing solicitor who did the purchase is retired - so can't ask her. Is permission from the freeholder required?
Some leases for properties in Thurrock do contain a provision to say that subletting is only permitted with prior consent from the landlord. The landlord is not entitled to unreasonably withhold but, in such cases, they would need to see references. Experience dictates that problems are usually caused by unsatisfactory tenants rather than owner-occupiers and for that reason you can expect the freeholder to take up the references and consider them carefully before granting permission.
I purchased a leasehold flat in Thurrock, conveyancing was carried out December 2008. How much will my lease extension cost? Similar flats in Thurrock with an extended lease are worth £170,000. The average or mid-range amount of ground rent is £50 invoiced every year. The lease runs out on 21st October 2104
You have 78 years left to run we estimate the premium for your lease extension to range between £7,600 and £8,800 plus 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 the actual costs in the absence of detailed due diligence. You should not use this information in a Notice of Claim or as an informal offer. There are no doubt other issues that need to be considered and you obviously want to be as accurate as possible in your negotiations. Please do not take any other action based on this information without first seeking the advice of a professional.