My partner and I are purchasing a new build flat in Delabole and my solicitor is informing me that she is duty bound to the bank to disclose incentives from the developer. The Estate Agents are hassling me to exchange contracts and I would rather not prolong matters. is my lawyer playing by the book?
You should not exchange unless you have been advised to do so by your solicitor. A precondition to being on a bank panel is to comply with the UK Finance Lenders’ Handbook specifications. The CML Conveyancing Handbook requires that your lawyer have the appropriate Disclosure of Incentive form completed by the developer and accepted by your lender.
My mortgage company has suggested a law firm on their panel based in Delabole but I would rather use a conveyancing lawyer in Delabole round the corner to me. Are you able to assist?
It is by no means the case that all Delabole conveyancing practitioners are approved and listed on all banks conveyancing panel. Use our find an approved solicitor tool to identify a Delabole conveyancing firm on the on the lender panel.
Me and my partner are purchasing a flat in Delabole. It might be a silly question but how we can trust a conveyancer? On the day of competition we have to send funds into their account. What protection do 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 had selected conveyancers with offices in Delabole on the Santander solicitor approved list. They are now charging me a separate amount for handling the Santander mortgage. Is this an additional conveyancing fee set by Santander?
Unfortunately, so long as it is in their Terms and Conditions or estimate then yes your solicitor may charge a fee for this. The charge is not dictated by Santander but by your Delabole conveyancing practitioner. Plenty of firms on the Santander panel will quote an ‘acting for lender’ fee and others do not.
About to purchase flat in Delabole. I have received an online quote from a licenced conveyancer, which states: "There will be no charge for dealing with the Building Society if you are obtaining a mortgage". I take this to mean that there will be no additional fee if the solicitor is on the Kent Reliance conveyancing panel. I wanted to make sure it means there will be no additional fees for dealing with the mortgage.
They are simply saying that the cost for acting for the lender is included in the fee being quoted. It is worth you checking that the Delabole conveyancer is on the Kent Reliance conveyancing panel.
I have a renovated Georgian house in Delabole. Conveyancing solicitor acted for me and The Royal Bank of Scotland. I happened to do a free search for it on the Land Registry database and I saw two entries: one for freehold, the second leasehold with the exact same property. I thought I was buying a freehold how can I check?
You need to review the Freehold register you have again and check the Charges Register for mention of a lease. The best way to be sure that you are also the registered owner of the leasehold and freehold title as well is to check (£3). It is not completely unheard of in Delabole and other locations in the country and poses no real issues for owners other than when they mortgage they have to account for both freehold and leasehold interests when dealing with buyers. You can also enquire as to the situation with your conveyancing solicitor who carried out the work.
Estate agents have just been given the go-ahead to market my garden apartment in Delabole. Conveyancing solicitors are to be appointed soon, however I have recently had a quarterly service charge demand – should I leave it to the buyer to sort out?
The sensible thing to do is discharge the maintenance contribution as usual because all ground rent and service payments should be allotted 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 management companies will not acknowledge the buyer unless 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 acquired a split level flat in Delabole, conveyancing formalities finalised 9 years ago. Can you work out an approximate cost of a lease extension? Corresponding properties in Delabole with an extended lease are worth £222,000. The ground rent is £50 levied per year. The lease finishes on 21st October 2097
With 71 years left to run we estimate the premium for your lease extension to range between £9,500 and £11,000 plus legals.
The figure above a general guide to costs for extending a lease, but we are not able to provide a more accurate figure in the absence of comprehensive investigations. You should not use the figures in tribunal or court proceedings. There are no doubt additional issues that need to be taken into account and you obviously should be as accurate as possible in your negotiations. Neither should you take any other action based on this information before seeking the advice of a professional.