Me and my partner are planning to acquire a 3 bedroom flat in Crook with a mortgage. We have a Crook solicitor, however the mortgage company advise he's not on their "panel". It appears that we have little option but to appoint one of the bank panel solicitors or keep our Crook conveyancer as well as pay for one of their panel lawyers to act for them. We feel that this is unjust; is there anything we can do?
Unfortunately,no. 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. A further alternative is for your Crook conveyancing lawyer to apply to be on the conveyancing panel.
I am buying a terraced house in Crook. How practical is it for me to do the conveyancing?
Leaving aside the complexities and merits of DIY conveyancing in Crook you will have to appoint a solicitor on your lender's conveyancing panel to look after their interests. Most people therefore find it easier to let the solicitor act for them and the lender. Furthermore there is minimal cost savings to be made in you doing conveyancing for yourself and another lawyer conducting the conveyancing for the lender. Please feel free to use the search tool to find a lawyer on your lender panel in Crook.
I'm purchasing my first flat in Crook with the aid of help to buy. The builders would not move on the amount so I negotiated five thousand pounds worth of extras instead. The estate agent advised me not reveal to my conveyancer about this extras as it will adversely affect my mortgage with Godiva Mortgages Ltd. 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.
I'm refinancing my current property to a BTL mortgage with Halifax and intend to use the remaining equity as a down payment on further house. The location we are looking at is Crook. Will your solicitors be able to act for the two banks and tie in the transactions?
Do use our search tool on this page to ensure that the conveyancers are on the relevant lender panels. Assuming that they are your conveyancer should be able to simultaneously deal with the two transactions but you should have a chat with you lawyer and communicate your expectations and needs.
Having had my offer accepted I require leasehold conveyancing in Crook. Before I get started I require certainty as to the number of years remaining on the lease.
Assuming the lease is registered - and 99.9% are in Crook - then the leasehold title will always include the basic details of the lease, namely the date; the term; and the original parties. From a conveyancing perspective such details then enable any prospective buyer and lender to confirm that any lease they are looking at is the one relevant to that title. For any other purpose, such as confirming how long the term was granted for and calculating what is left, then the register should be sufficient on it's own.
I own a garden flat in Crook, conveyancing having been completed 6 years ago. Can you give me give me an indication of the likely cost of a lease extension? Similar flats in Crook with over 90 years remaining are worth £191,000. The ground rent is £55 levied per year. The lease ends on 21st October 2073
You have 53 years left to run we estimate the premium for your lease extension to span between £27,600 and £31,800 plus costs.
The figure that we have given is a general guide to costs for renewing a lease, but we are not able to supply the actual costs without more detailed investigations. Do not use this information in tribunal or court proceedings. There may be additional concerns that need to be considered and you obviously should be as accurate as possible in your negotiations. Please do not take any other action placing reliance on this information before getting professional advice.