Is the fact that my conveyancer in Chadderton is not on my lender's conveyancing panel that there is a problem with the quality of his conveyancing?
It would be unwise to jump to that conclusion. There are all sorts of perfectly plausible explanations. A recent report by the solicitors regulator revealed that over three quarters of law firms surveyed had been removed from at least one lender panel. The most common reasons for removal are: (1) lack of transactions (2) the solicitor 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 Chadderton conveyancing firm and enquire why they are no longer on the approved list for your lender.
We were just about to exchange contracts for a property in Chadderton. We encountered a snag. The mortgage offer with Lloyds TSB Bank expires on 2/7/2024 but the sellers are putting forward a completion date of 4/7/2024. Can one extend the mortgage offer?
The best person to address this question is your solicitors who will hopefully determine if they better off negotiating with the mortgage company, vendor’s representatives, selling agents or possibly all three given the circumstances your conveyancing to date.
Are all Chadderton Conveyancing Quality Solicitors on the Leeds Building Society conveyancing list of approved practices?
A selection of banks and building societies now use the accreditation scheme as the starting 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 conveyancing solicitors.
We had selected solicitors locally in Chadderton on the Clydesdale solicitor panel. They have just billed me an additional fee for the legal aspects of the Clydesdale mortgage. Is this an additional conveyancing fee set by Clydesdale?
Unfortunately, so long as it is in their Terms and Conditions or estimate then yes your solicitor can levy a fee for this. This charge is not set by Clydesdale but by your Chadderton conveyancer. Plenty of firms on the Clydesdale panel will quote an ‘acting for lender’ fee and others do not.
The formalities of my purchase has taken place for my property in Chadderton. Conveyancing was of an acceptable standard but I would like to complain about the lender. Who do I contact should I wish to lodge a complaint?
Most lenders have complaints procedures. Your first port of call should be one of the lender’s branches or the Customer Care Team at head office. We understand that complaints to a lender are sorted out effectively and efficiently. If you feel the matter is not resolved you can write to Financial Ombudsman Service, South Quay Plaza, 183 Marsh Wall, London E14 9SR with full details of your complaint.
Due to the advice of my in-laws I had a survey completed on a house in Chadderton in advance of retaining solicitors. I have been advised that there is a flying freehold aspect to the house. The surveyor has said that some lenders will refuse to give a mortgage on this type of property.
It depends who your proposed lender is. Lloyds has different instructions for example to Halifax. If you call us we can check via the relevant mortgage company. If you lender is happy to lend one our lawyers can help as they are used to dealing with flying freeholds in Chadderton. Conveyancing can be more complicated and therefore you should check with your conveyancing solicitor in Chadderton to see if the conveyancing will be more expensive.
Last November I purchased a leasehold house in Chadderton. Am I liable to pay service charges relating to a period prior to completion of my purchase?
In a situation where the service charge has already been demanded from the previous lessee and they have not paid you would not usually be personally liable for the arrears. However, your landlord may still be able to take action to forfeit the lease. It is an essential part of leasehold conveyancing for your conveyancer to ensure to have an up to date clear service charge receipt before completion of your purchase. If you have a mortgage this is likely to be a requirement of your lender.
If you purchase part way through an accounting year you may be liable for charges not yet demanded even if they relate to a period prior to your purchase. In such circumstances your conveyancer would normally arrange for the seller to set aside some money to cover their part of the period (usually called a service charge retention).
I invested in buying a 1st floor flat in Chadderton, conveyancing formalities finalised in 2010. Can you let me have an estimated range of the fair premium for a lease extension? Equivalent properties in Chadderton with a long lease are worth £165,000. The ground rent is £50 invoiced every year. The lease runs out on 21st October 2101
With only 77 years left to run we estimate the premium for your lease extension to be between £7,600 and £8,800 plus legals.
The figure above a general guide to costs for extending a lease, but we are not able to provide a more accurate figure without more comprehensive investigations. You should not use the figures in tribunal or court proceedings. There may be other 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 based on this information without first seeking the advice of a professional.