Our solicitor has discovered a a problem with the lease for the apartment we are buying in Diss. The seller’s lawyers have put forward title insurance as a workaround. We are content with insurance and will cover the costs. Our solicitor says that he must be satisfied that the lender is happy with this solution. Are we the client or is the bank?
Even though you have a mortgage offer from the mortgage company does not mean to say that the property will meet their requirements for the purposes of a mortgage. Your lawyer has to ensure that the lease has to comply with the UK Finance Lenders’ Handbook requirements. You and the mortgage company are the client. These conveyancing instructions must be adhered to.
My grandmother passed away 10 months ago and as sole heir and executor I was left the property in Diss. The house had a small mortgage left on it of around £8000. I want to transfer the title deeds into my name whilst I re-mortgage to Aldermore, pay off the mortgage. Is this possible?
Where you plan to re-mortgage then Aldermore will require that you use a conveyancer on the Aldermore conveyancing panel. Here is link to the Land Registry online guidance around what to do when a property owner dies. This will help you to understand the registration process behind changing the details re the registered title. in your case it would appear that you are effectively purchasing the property from the estate. Your Aldermore conveyancing panel solicitor pays the new mortgage money into the estate, the estate pays off the old mortgage, the charge is released and you become the owner and the Aldermore mortgage is registered as a charge at the Land Registry.
Are all Diss Conveyancing Quality Solicitors on the TSB conveyancing panel?
Some major lenders now make use of CQS as the kick off point for Panel approval such as HSBC and Santander. CQS membership however gives no guarantee to lender panel acceptance. Nevertheless,the CML have indicated that it is likely to become a pre-requisite for solicitors wishing to remain on their approved list of firms.
How can we tell if a Diss conveyancing solicitor on the Nottingham panel is any good?
When it comes to conveyancing in Diss seeking recommendations is a sensible starting point. Before you go ahead, check if they offer a no sale no fee offer. Also, you often get what you pay for - a firm which quotes more, will often provide a better service than one which is cheap as chips. We would always suggest that you speak with the solicitor carrying out your transaction.
I have decided to exercise my right to buy my property in Diss off the council. I have a mortgage agreed with Lloyds. Conveyancing is new to me. Can I proceed without a solicitor easily? I think we can but we keep being told I should use one. Any advice?
It is not advisable to proceed with a house purchase without a solicitor. The council's solicitor are not acting for you. You need a solicitor for a number reasons. One of which is to verify what plans the Council have for repairs and refurbishment for the next five years. Many leaseholders have been stung for contributions of thousands of pounds. In any event, if you are getting a mortgage with Lloyds, you will need to appoint a solicitor on the Lloyds conveyancing panel.
I'm buying my first flat in Diss with a loan from Birmingham Midshires. The sellers refused to budge the amount so I negotiated £7000 of fixtures and fittings instead. The property agent advised me not to tell my solicitor about this extras as it would put at risk my loan with the lender. 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.
My company is wishing to take over a lease of a shop on a shopping parade. Can you recommend lawyers offering fixed charges for commercial conveyancing in Diss for below £1,200?
We can recommend firms who have an in-depth of experience of commercial conveyancing in Diss, including the sale and purchase of businesses as well as simply premises. If you are intending to acquire or lease a shop, pub, restaurant, office, retail premises or a complete business we can find you the right lawyer. As for the costs this will depend on the structure and complexity of the proposed transaction. Let us have your contact information or telephone so as to enable us to furnish you with a fixed commercial conveyancing quote.