My wife and I are looking to acquire a home in Urmston and have appointed a Urmston conveyancing firm. Within the last couple of days our lawyer has forwarded the sale agreement to be signed with a detailed report with the expectation that exchange is imminent. Coventry Building Society have this morning contacted us to advise us that they have now hit a problem as our Urmston solicitor is not on their approved list of lawyers. Is this a problem?
Where you are buying a property requiring a mortgage it is standard for the purchasers' solicitors to also act for the mortgage company. In order to act for a bank or building society a law firm has to be on that lender's conveyancing panel. An application has to be made by the law firm to the lender to become a member of the lender's panel and there are increasingly strict criteria which the firm has to satisfy and indeed some lenders now require their panel members to be part of the Law Society’s Conveyancing Quality Scheme. Your property lawyer should contact your mortgage company and see if they can apply for membership of their conveyancing panel, but if that is not viable they will instruct their own solicitors to act. You don't have to instruct a firm on the bank's conveyancing panel as you are at liberty to use your preferred Urmston lawyers, in which case it will likely add costs, and it may delay matters as you are adding another lawyer into the mix.
Some advice if I may. My Urmston conveyancer is informing me me that he is legally obliged toorder Urmston conveyancing searches asthe firm are on the HSBCsolicitor panel. Is this really necessary?
You have limited options available to you. As you are obtaining a mortgage with a bank your solicitor has to comply with their conditions as set out in their version of the CML Conveyancing Handbook. Your solicitor would have previously signed the Terms and Conditions of your lender’s conveyancing panel appointment which obliges them to follow the CML Handbook specifications . Even if you were a cash buyer you would be ill advised not to carry out Urmston conveyancing searches.
We are buying a property and require a conveyancing solicitor in Urmston who is on the Nationwide solicitor panel. Could you point me in the right direction as regards a conveyancing firm?
Our service is limited to being a directory service for firms who wish to be listed as being on the approved conveyancing panel for Nationwide . We don't recommend any particular firms conducting conveyancing in Urmston.
The Urmston conveyancing solicitors that just started acting on my house acquisition in Urmston have without warning shut down. I chose them because I needed a lawyer on the Bank of Ireland conveyancing panel and my family Urmston lawyer was not. I paid them 275 plus VAT on account. What are my options?
Assuming that you have an Estate Agent in the equation then let them know immediately so that they advise the vendors that there may be a slight delay due to the problems encountered. Hopefully they will be sympathetic and urge their lawyer to send a new set of papers to your new solicitors. You should appoint new lawyers that are on the Bank of Ireland conveyancing panel and notify the lender. If you have paid over any money, it will hopefully be held by the SRA as money in an intervened firm's bank accounts is transferred to the SRA. Then, the SRA or the intervention agent looks at the intervened firm's accounts to work out who the money belongs to. To claim your money you will need to contact the SRA. If the SRA cannot return money you are owed from the firm's bank accounts, or if they can only return part of the money, you can apply to the Compensation Fund for a grant. Your new lawyers may be able to assist.
I need to appoint a conveyancing solicitor for some conveyancing in Urmston. I have discover a site which looks to be the perfect offering If it is possible to get all the legals done via phone that would be ideal. Do I need to be wary? What should out be looking out for?
As usual with these online conveyancers you need to read ALL the small print - did you notice the extra charge for dealing with the mortgage?
I wish to let out my leasehold apartment in Urmston. Conveyancing solicitor who did the purchase is retired - so can't ask her. Do I need to ask my freeholder for their consent?
Notwithstanding that your last Urmston conveyancing solicitor is no longer available you can review your lease to check if it allows you to sublet the apartment. The rule is that if the lease is silent, subletting is permitted. There may be a precondition that you must seek permission from your landlord or other appropriate person before subletting. This means that you cannot sublet without first obtaining consent. Such consent must not not be unreasonably refused ore delayed. If the lease does not allow you to sublet you should ask your landlord if they are willing to waive this restriction.
I purchased a split level flat in Urmston, conveyancing formalities finalised 3 years ago. Can you give me give me an indication of the likely cost of a lease extension? Comparable properties in Urmston with over 90 years remaining are worth £265,000. The ground rent is £50 invoiced annually. The lease runs out on 21st October 2097
You have 76 years left to run the likely cost is going to range between £8,600 and £9,800 plus professional fees.
The figure above a general guide to costs for extending a lease, but we cannot give you the actual costs in the absence of detailed due diligence. You should not use the figures in a Notice of Claim or as an informal offer. There are no doubt additional concerns that need to be taken into account and clearly you should be as accurate as possible in your negotiations. Please do not move forward placing reliance on this information before getting professional advice.