We are selling our home in Axmouth and Branscombe. Will my lawyer need to be required to be on the Nationwide conveyancing panel in order to deal with the discharge of my mortgage?
Ordinarily, even if your lawyer is not on the Nationwide conveyancing panel they can still act for you on your sale. It might be that the lender will not release the original deeds (if applicable and increasingly irrelevant) until after the mortgage is paid off. You should speak to your lawyer directly before you start the process though to ensure that there is no problem as lenders are changing their conditions fairly frequently at the moment.
I am buying my first flat in Axmouth and Branscombe with a loan from Nottingham Building Society. The developers would not budge the price so I negotiated five thousand pounds worth of fixtures and fittings instead. The property agent told me not inform my solicitor about this extras as it may affect my mortgage with the bank. Do I keep my lawyer in the dark?.
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.
Is it possible to transfer to a new firm as I have to find one who is on the The Mortgage Works conveyancing list. I hired a family conveyancing solicitor in Axmouth and Branscombe round the corner but he is not accepted by The Mortgage Works
It would be our pleasure to assist you find a conveyancing solicitor in Axmouth and Branscombe on the The Mortgage Works panel. Please note that the solicitors that we work with do not pay us a referral fee if you instruct them and are regulated by the Solicitors Regulation Authority who oversee all conveyancing solicitors in Axmouth and Branscombe. In utilising search facility on this website, you can compare and instruct different solicitors and conveyancers both nationally and in Axmouth and Branscombe.
My husband and I are a couple of weeks into a leasehold purchase having been directed to solicitors by the selling agent to perform conveyancing in Axmouth and Branscombe. I am am very disappointed with the quality of service. Can you help me find new lawyers?
A conveyancer would have to be really poor in order to consider changing them. Has the mortgage offer been issued? If so you must advise them of the replacement lawyer and ensure the loan are re-sent. Your new solicitor ideally needs to be on the mortgage company approved list to avoid supplemental costs and complications. That should be your starting point. The search tool will help you find a bank approved solicitor for your home move in Axmouth and Branscombe
Do you have any top tips for leasehold conveyancing in Axmouth and Branscombe with the aim of speeding up the sale process?
- Much of the delay in leasehold conveyancing in Axmouth and Branscombe can be avoided where you instruct lawyers the minute your agents start advertising the property and ask them to collate the leasehold documentation which will be required by the purchasers’ conveyancers. Some Axmouth and Branscombe leases require Licence to Assign from the landlord. If this is the case, you should notify your estate agents to make sure that the purchasers obtain bank and professional references. The bank reference will need to confirm that the buyers are able to meet the yearly service charge and the actual amount of the service charge should be quoted in the bank’s letter. You will therefore need to provide your estate agents with the service charge figures so that they can pass this information on to the buyers or their lawyers. If there is a history of conflict with your landlord or managing agents it is very important that these are resolved before the property is put on the market. The buyers and their solicitors will be warry about purchasing a flat where a dispute is unsettled. You may need to swallow your pride and discharge any arrears of service charge or settle the dispute prior to the buyers completing the purchase. It is therefore preferable to have any dispute settled ahead of the contract papers being issued to the buyers’ solicitors. You are still duty bound to disclose particulars of the dispute to the purchasers, but it is clearly preferable to reveal the dispute as over rather than unsettled. You may think that you are aware of the number of years remaining on your lease but it would be advisable verify this by asking your lawyers. A buyer’s lawyer will not be happy to advise their client to to exchange contracts if the lease term is under 80 years. In the circumstances it is essential at an as soon as possible that you identify whether the lease term requires a lease extension. If it does, contact your solicitors before you put your premises on the market for sale.
Axmouth and Branscombe Conveyancing for Leasehold Flats - Sample of Questions you should consider Prior to buying
Best to be warned whether window replacement or some other significant cost is due shortly that will be shared by the leaseholders and could well materially impact the level of the maintenance fees or require a specific payment. Can you inform me if there are any major works on the horizon that could increase the service charges? How many of the leaseholders are in arrears for their service charge payments?