Me and my partner are buying a 2 bedroom flat in Axmouth and Branscombe with a mortgage. We like our Axmouth and Branscombe lawyer, but the mortgage company advise he's not on their "panel". We have to appoint one of the lender panel firms or retain our Axmouth and Branscombe property lawyer and pay for one of their panel ones to act for them. This seems very unfair; can we not insist that the mortgage company use our Axmouth and Branscombe conveyancer ?
No, not really. The mortgage offered to you is subject to its terms and conditions, one of which will be that lawyers will on the bank’s conveyancing panel. Until recently, most lenders had large numbers of law firms on their panels: a borrower could choose one for themselves, as long as it was on the lender's panel. The lender would then simply instruct the borrower's lawyers to act for the lender, too. You can use your lender's panel lawyers or you could borrow from another lender which does not restrict your choice. Another option that might be available is for your Axmouth and Branscombe conveyancing solicitor to apply to be on the conveyancing panel.
I am buying a house without a mortgage in Axmouth and Branscombe. I have resided for the previous 20 years in Axmouth and Branscombe. Conveyancing searches are expensive. Given that I have knowledge of the area and road very well should I not bother getting the solicitor to do all the conveyancing searches?
If you not getting a mortgage, then almost all of the Axmouth and Branscombe conveyancing searches are at your discretion. Your solicitor will ’encourage you, perhaps strongly, that you should have searches completed, but he has a professional duty to do this. Do consider; if you are intend to sell the house in the future, it will likely be be of importance to your future purchaser what the searches contain. On occasion houses with no practical issues can still show up detrimental search results. A good conveyancing solicitor in Axmouth and Branscombe should be able to give you some practical advice here.
What is your number one tip for choosing a conveyancing solicitor in Axmouth and Branscombe
It would be unwise to be swayed by the lowest Axmouth and Branscombe conveyancing costs illustration. You really do get what you pay for when it comes to conveyancing solicitors. A cheap quote may mean that the conveyancing solicitor is handling a lot of jobs at one time and you won’t get the quality of service and the attention that you need. It is, however, wise to use a conveyancer who has a fixed fee on a no sale, no fee basis. This way, you go into the conveyancing with your eyes wide open.
We are planning to move property in November. Will my conveyancing solicitor liaise with the removal company on the day of completion. Incidentally, can you recommend a removal company in Axmouth and Branscombe. Conveyancing solicitor was chosen prior to coming across this site.
On the afternoon of completion you will need to collect the house keys from the property agent however this can only happen when the previous owners lawyers confirm to the agent that the monies to complete are in and the keys can be handed over. Subsequently you should advise the removal men that you are ready to move in. We are not in a position to suggest a specific removal organisation but can help you find a residential property solicitor in Axmouth and Branscombe or a firm with expertise in conveyancing in Axmouth and Branscombe.
After shopping around on the internet I have found a Axmouth and Branscombe solicitor having checked that they are on the Nationwide conveyancing panel. Does my lawyer arrange the survey of the property?
Nationwide will need an independent valuation of the property. Your lawyer will not arrange this. Usually Nationwide will appoint their own surveyor to do this, and you will have to pay for it. Remember that this is a valuation for mortgage purposes and not a survey. You may wish to consider appointing your own Axmouth and Branscombe surveyor to carry out a survey or prepare a home buyers report on the property. It is up to you to satisfy yourself that the property is structurally sound before you buy it. If the survey or report reveals that building work is needed, you should tell your solicitor. You may wish to renegotiate with the seller.
I'm purchasing my first flat in Axmouth and Branscombe with a mortgage from Britannia. The sellers would not reduce the amount so I negotiated £7000 of extras instead. The sale representative told me not disclose to my lawyer about this extras as it may adversely affect my loan with the bank. Is this normal?.
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 employed by a long established estate agency in Axmouth and Branscombe where we have witnessed a number of leasehold sales jeopardised due to short leases. I have received inconsistent advice from local Axmouth and Branscombe conveyancing solicitors. Can you confirm whether the seller of a flat can initiate the lease extension process for the buyer?
Provided that the seller has owned the lease for at least 2 years it is possible, to serve a Section 42 notice to kick-start the lease extension process and assign the benefit of the notice to the purchaser. The benefit of this is that the buyer need not have to sit tight for 2 years to extend their lease. Both sets of lawyers will agree to form of assignment. The assignment has to be done prior to, or simultaneously with completion of the sale.
Alternatively, it may be possible to agree the lease extension with the freeholder either before or after the sale. If you are informally negotiating there are no rules and so you cannot insist on the landlord agreeing to grant an extension or transferring the benefit of an agreement to the buyer.
I bought a split level flat in Axmouth and Branscombe, conveyancing formalities finalised half a dozen years ago. How much will my lease extension cost? Comparable properties in Axmouth and Branscombe 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 ceases on 21st October 2096
With 73 years unexpired we estimate the price of your lease extension to be between £8,600 and £9,800 as well as legals.
The suggested premium range above a general guide to costs for extending a lease, but we cannot give you a more accurate figure in the absence of detailed investigations. Do not use this information in a Notice of Claim or as an informal offer. There may be additional issues that need to be considered and clearly you want to be as accurate as possible in your negotiations. Neither should you take any other action placing reliance on this information before getting professional advice.