My wife and I are purchasing a 1 bedroom apartment in Brough with a mortgage. We have a Brough solicitor, but the mortgage company says he's not on their "panel". We have to appoint one of the mortgage company panel firms or keep our Brough lawyer and pay for one of their panel ones to act for them. We feel that this is inequitable; are we not able to demand that the bank use our Brough conveyancer ?
Unfortunately,no. The mortgage offered to you is subject to its terms and conditions, one of which will be that lawyers will on the lender’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. A further alternative is for your Brough conveyancing lawyer to apply to be on the conveyancing panel.
We are purchasing a house in Brough. It might be a silly question but how we can trust a lawyer? At some point we will need to put funds into their account. What is the protection we have from them run away with our money?
Be assured that all money in a Solicitors client account is 100% safe, and even if your Solicitor ran off with it, the Law Society would reimburse you fully.
We have agreed to purchase a house in Brough. A rare aspect is that the roof has a solar panel. Principality have issued a mortgage offer so presumably this is not a concern to them. Why is my solicitor raising questions about the panel?
As you are obtaining a mortgage with Principality your lawyer must comply with the conveyancing requirements contained in Section 2 of UK Finance Lenders’ Handbook for Principality. The CML Handbook sets out minimum conditions for solar panel roof-space leases, and property lawyers are required to report to Principality where a lease fails to satisfy these requirements. The conditions relate to the installation of panels on properties in England and Wales and is not isolated to Brough.
I have paid off my mortgage with Bank of Ireland. I assume I don't need a Brough conveyancing practitioner on the Bank of Ireland panel to discharge the mortgage at the Land Registry. Am I right?
If you have finished paying off your Bank of Ireland mortgage, they may send you evidence showing that you have paid it off. Alternatively they may notify the Land Registry directly. The Land Registry need to see this evidence before they will remove the Bank of Ireland mortgage from the register. Bank of Ireland, and any evidence they send you, will determine the action you need to take. In cases where no conveyancer is acting for you and you have paid off your mortgage:
- but are not moving to another property
- where Bank of Ireland has sent the Land Registry the discharge electronically, and
- Bank of Ireland has instructed the Land Registry to do so
I have justbeen informed that Wolstenholmes have been shut down. They carried out my conveyancing in Brough for a purchase of a leasehold apartment 12 months ago. How can I check that the property is registered correctly in the name of the previous owner?
The easiest way to see if the property is in your name, you can make a search of the land registry (£3.00). You can either do this yourself or ask a law firm to do this for you. If you are not registered you can seek help from one of a number of Brough conveyancing specialists.
I'm purchasing my first flat in Brough with the aid of help to buy. The sellers would not move on the price so I negotiated £7000 of additionals instead. The house builders rep advised me not disclose to my conveyancer about this deal as it may put at risk my mortgage with National Westminster Bank. Is this normal?.
All lenders require a Disclosure of Incentives Form from the developer 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.
Estate agents have just been given the go-ahead to market my garden flat in Brough. Conveyancing lawyers have not yet been instructed, but I have just had a yearly maintenance charge demand – should I leave it to the buyer to sort out?
The sensible thing to do is clear the invoice as usual given that all rents and service invoices will be apportioned as part of the financial calculations for completion monies, so you should recover the relevant percentage by the purchaser for the period running from after the completion date to the subsequent invoice date. Most managing agents will not acknowledge the buyer until the service charges have been paid and are up to date, so it is important for both buyer and seller for the seller to show that they are up to date. Having a clear account will assist your cause and will leave you no worse off financially.
I am the registered owner of a leasehold flat in Brough, conveyancing formalities finalised in 2011. Can you give me give me an indication of the likely cost of a lease extension? Corresponding properties in Brough with a long lease are worth £216,000. The average or mid-range amount of ground rent is £50 levied per year. The lease finishes on 21st October 2087
With 69 years left to run we estimate the price of your lease extension to be between £9,500 and £11,000 as well as costs.
The figure that we have given is a general guide to costs for renewing a lease, but we are not able to advice on the actual costs in the absence of comprehensive investigations. Do not use the figures in tribunal or court proceedings. There may be additional issues that need to be taken into account and you obviously should be as accurate as possible in your negotiations. Please do not take any other action placing reliance on this information without first seeking the advice of a professional.