Please explain the implications if my solicitor is expelled from the Nationwide Solicitor panel ahead of completing my conveyancing in Watchet?
First, this is very unlikely to happen. 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.
We had selected conveyancers located in Watchet on the UBS solicitor approved list. They have just invoiced me a supplemental fee for the legal aspects of the UBS mortgage. Is this an additional conveyancing fee set by UBS?
Unfortunately, as long as it is in their Terms and Conditions or Quote then yes your conveyancing practitioner is entitled to charge a fee for this. The fee is not dictated by UBS but by your Watchet conveyancer. Some firms on the UBS panel will charge ’dealing with mortgage’ fee but some practices incorporate it on their overall fee.
I am purchasing a property in Watchet. An unusual aspect is that the roof has a solar panel. Solicitors conducting should look into this right? Will my lender Kent Reliance be concerned?
As your lender is Kent Reliance your lawyer must follow the formal requirements outlined in Section two of UK Finance Lenders’ Handbook for Kent Reliance. The Council of Mortgage Lenders’ Handbook sets out minimum provisions for solar panel roof-space leases, and conveyancing practitioners are required to report to Kent Reliance where a lease fails to comply with these provisions. The specifications relate to the installation of panels on properties countrywide and is not isolated to Watchet.
About to purchase maisonette in Watchet. 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 Lloyds 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 Watchet conveyancer is on the Lloyds conveyancing panel.
I opted to have a survey completed on a property in Watchet prior to instructing lawyers. I have been told that there is a flying freehold aspect to the house. My surveyor advised that some banks will refuse to give a mortgage on this type of house.
It varies from the lender to lender. HSBC has different instructions from Birmingham Midshires. If you contact us we can investigate further with the appropriate lender. If you lender is happy to lend one our lawyers can assist as they are used to dealing with flying freeholds in Watchet. Conveyancing can be more complicated and therefore you should check with your conveyancing solicitor in Watchet to see if the conveyancing costs will increase in light of this.
Having had my offer accepted I require leasehold conveyancing in Watchet. Before I set the wheels in motion I would like to find out the remaining lease term.
If the lease is registered - and 99.9% are in Watchet - then the leasehold title will always include the basic details of the lease, namely the date; the term; and the original parties. From a conveyancing perspective such details then enable any prospective buyer and lender to confirm that any lease they are looking at is the one relevant to that title. For any other purpose, such as confirming how long the term was granted for and calculating what is left, then the register should be sufficient on it's own.
I own a split level flat in Watchet, conveyancing formalities finalised half a dozen years ago. Can you shed any light on how much the price could be for a 90 year extension to my lease? Equivalent properties in Watchet with a long lease are worth £179,000. The ground rent is £65 yearly. The lease runs out on 21st October 2082
You have 57 years remaining on your lease we estimate the price of your lease extension to range between £26,600 and £30,800 as well as plus your own and the landlord's "reasonable" professional fees.
The figure that we have given is a general guide to costs for renewing a lease, but we are not able to advice on a more accurate figure 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 other concerns that need to be considered and you obviously want to be as accurate as possible in your negotiations. Please do not move forward placing reliance on this information without first seeking the advice of a professional.
Online reading suggests that Watchet solicitors are more expensive than licensed conveyancers in Watchet to use when purchasing a property. So is it better if I use a conveyancer or a solicitor if I am buying a property in Watchet.
When it comes to conveyancing in Watchet the costs are unlikely to vary dramatically depending on whether the legal expert is a licenced conveyancer or solicitor.