Is the fact that my solicitor in Paddock Wood is not on my bank's solicitor panel that there is a problem with the standard of his conveyancing?
That is most likely an incorrect assumption to make. There are all sorts of perfectly plausible explanations. Just recently a report by the solicitors regulator revealed 76% of law firms surveyed had been removed from at least one lender panel. The most common reasons for removal are: (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 simply call the Paddock Wood conveyancing firm and enquire why they are no longer on the approved list for your bank.
Is it the case that all Paddock Wood CQS (Conveyancing Quality Scheme) solicitors are on the Virgin Money conveyancing list of approved practices?
Some major lenders now make use of CQS as the kick off point for Panel approval such as HSBC and Santander. CQS membership however is no guarantee to lender panel acceptance. Nevertheless,the Council of Mortgage Lenders have indicated that it is likely to become a pre-requisite for firms wishing to join their approved list of firms.
I currently have a mortgage with UBS for my property in Paddock Wood. Conveyancing has been completed months ago. If I am intending to rent out my property and do not currently have a buy-to-let mortgage do I need to remortgage to a buy-to-let mortgage or inform UBS?
Your original mortgage agreement with UBS will provide that you need their approval prior to letting out your property as this is likely to be a breach of UBS’s mortgage conditions. It may be that UBS will allow you to rent out your former home without needing to switch to a buy-to-let mortgage but some lenders will add a surcharge to your mortgage rate to reflect the higher risk. You should contact UBS directly. It should not be necessary to do this via a UBS conveyancing panel solicitor.
About to purchase apartment in Paddock Wood. I have received an online quote from a licenced conveyancer, which states: "There will be no charge for dealing with the Building Society if you are obtaining a mortgage". I take this to mean that there will be no additional fee if the solicitor is on the Nationwide conveyancing panel. I wanted to make sure it means there will be no additional fees for dealing with the mortgage.
They are simply saying that the cost for acting for the lender is included in the fee being quoted. It is worth you checking that the Paddock Wood lawyer is on the Nationwide conveyancing panel.
What can a local search inform me concerning the house we're purchasing in Paddock Wood?
Paddock Wood conveyancing often commences with the ordering local authority searches directly from your local Authority or through a personal search organisations such as Xpress Legal The local search is essential in every Paddock Wood conveyancing purchase; as long as you wish to avoid any unpleasant surprises after you move into your new home. The search should reveal information on, amongst other things, details on planning applications relevant to the property (whether granted or refused), building control history, any enforcement action, restrictions on permitted development, nearby road schemes, contaminated land and radon gas; in all a total of 13 subject areas.
I need to instruct a conveyancing solicitor for residential conveyancing in Paddock Wood. I happened to discover a web site which seems to have the perfect solution If it is possible to get all the legals done via web that would be ideal. Do I need to be wary? What are the potential pitfalls?
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?
Back In 2000, I bought a leasehold flat in Paddock Wood. Conveyancing and The Royal Bank of Scotland mortgage are in place. A letter has just been received from someone claiming to own the freehold. Attached was a demand for arrears of ground rent dating back to 1993. The conveyancing solicitor in Paddock Wood who acted for me is not around. What should I do?
First make enquiries of HMLR to be sure that the individual claiming to own the freehold is in fact the registered owner of the freehold reversion. There is no need to instruct a Paddock Wood conveyancing solicitor to do this as it can be done on-line for less than a fiver. You should note that in any event, even if this is the legitimate freeholder, under the Limitation Act 1980 the limitation period for recovery of ground rent is six years.
I inherited a studio flat in Paddock Wood, conveyancing was carried out 9 years ago. Can you please calculate a probable premium for a statutory lease extension? Comparable properties in Paddock Wood with over 90 years remaining are worth £255,000. The average or mid-range amount of ground rent is £45 invoiced every year. The lease ends on 21st October 2099
You have 73 years left to run we estimate the price of your lease extension to be between £8,600 and £9,800 plus costs.
The figure that we have given is a general guide to costs for extending a lease, but we cannot give you the actual costs in the absence of detailed investigations. Do not use the figures in a Notice of Claim or as an informal offer. There may be additional concerns that need to be taken into account and you obviously want to be as accurate as possible in your negotiations. Neither should you move forward based on this information before getting professional advice.