We previously selected conveyancers based in Caddington on the Co-operative solicitor approved list. They have just billed me a supplemental charge for dealing with the Co-operative mortgage. Is this a supplemental conveyancing fee set by Co-operative?
Unfortunately, so long as it is in their Terms of Engagement or Quote then yes your conveyancing practitioner is entitled to levy a fee for this. The charge is not set by Co-operative but by your Caddington lawyer. Some firms on the Co-operative panel will quote ’dealing with mortgage’ fee but many firms incorporate it on their overall fee.
We were going to get a AIP from Coventry BS this week so we know how much we could potentially offer as otherwise we only have online calculators to go by (which aren't taking into account credit checks etc). Do Coventry BS recommend any Caddington solicitors on the Coventry BS conveyancing panel, or is it better to find our own lawyer?
You will need to appoint Caddington solicitors independently although you'll need to choose one on the Coventry BS conveyancing panel. The solicitor represents both you and Coventry BS through the process.
I am due to exchange contracts on my apartment. I had a double glazing fitted in June 2006, but did not receive a FENSA certificate or Building Regulation Certificate. My purchaser’s lender, Nottingham are being problematic. The Caddington solicitor who is on the Nottingham conveyancing panel is saying indemnity insurance will be fine but Nottingham are requiring a building regulation certificate. Why do Nottingham have a conveyancing panel if they don't accept advice from them?
It is probably the case that Nottingham have referred the matter to their valuer. The reason why Nottingham may not want to accept indemnity insurance is because it does not give them any reassurance that the double glazing was correctly and safely installed. The indemnity insurance merely protects against enforcement action which is very unlikely anyway.
My partner and I are downsizing from our home in Caddington and the buyers lawyers are claiming that there is a possibility that the property was constructed on contaminated land. A local lawyer would know that there is no such problem. For the life of me I don't know why the buyers are using a national conveyancing outfit as opposed to a conveyancing solicitor in Caddington. We have lived in Caddington for many years we know that this is a non issue. Do we contact our local Authority to obtain clarification that the buyers are looking for.
It would appear that you have a conveyancing firm already. Are they able to advise? You should enquire of your lawyer before you do anything. It is very possible that once the local authority has been informed of a potential issue it cannot be insured against (a bit like being diagnosed with a serious illness and then taking out health insurance to cover that same illness)
I'm buying a new build house in Caddington with a loan from Chelsea Building Society. The developers refused to move on the price so I negotiated five thousand pounds worth of extras instead. The house builders rep told me not inform my conveyancer about this side-deal as it would put at risk my loan with the lender. Should I keep quiet?.
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.
Due to the input of my in-laws I had a survey completed on a property in Caddington ahead of retaining solicitors. I have been informed that there is a flying freehold overhang to the property. My surveyor advised that some mortgage companies will refuse to grant a loan on such a home.
It depends who your proposed lender is. Lloyds has different instructions for example to Birmingham Midshires. Should you wish to call us we can investigate further via the relevant lender. If you lender is happy to lend one our lawyers can help as they are used to dealing with flying freeholds in Caddington. Conveyancing will be smoother if you use a solicitor in Caddington especially if they regularly deal with such properties in Caddington.
I've recently bought a leasehold flat in Caddington. 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 owner 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 be sure 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 studio flat in Caddington, conveyancing having been completed in 2008. Can you shed any light on how much the price could be for a 90 year extension to my lease? Corresponding flats in Caddington with over 90 years remaining are worth £195,000. The ground rent is £45 invoiced every year. The lease ceases on 21st October 2082
With just 63 years unexpired we estimate the premium for your lease extension to range between £16,200 and £18,600 as well as plus your own and the landlord's "reasonable" professional fees.
The figure above a general guide to costs for renewing a lease, but we cannot give you a more accurate figure in the absence of comprehensive investigations. Do not use the figures in tribunal or court proceedings. There are no doubt other concerns that need to be taken into account and you obviously want to be as accurate as possible in your negotiations. You should not take any other action based on this information without first getting professional advice.