Me and my partner are buying a 3 bedroom flat in Hartlebury with a mortgage. We like our Hartlebury conveyancer, but the lender advise he's not on their "panel". We have to appoint one of the bank panel firms or keep our Hartlebury solicitor as well as pay for one of their panel ones to represent them. This feels very unfair; is there anything we can do?
No, not really. Your mortgage offer 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 Hartlebury conveyancing solicitor to apply to be on the conveyancing panel.
My grandfather passed away six months ago and as sole heir and executor I was left the house in Hartlebury. The house had a relatively small loan left on it of around £8000. I want to have the title changed 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.
I am buying a new build house in Hartlebury with the aid of help to buy. The sellers would not budge the amount so I negotiated £7000 of fixtures and fittings instead. The sale representative told me not inform my solicitor about this side-deal as it may jeopardize my mortgage 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.
How easy is it to swap conveyancer as I have to instruct one who is on the Bank of Ireland conveyancing panel. I was using a family conveyancing solicitor in Hartlebury five minutes from me but he is not approved by Bank of Ireland
We will our best to assist in finding you a conveyancing solicitor in Hartlebury on the Bank of Ireland panel. Please note that the law firms that we list do not pay us fee if you instruct them and are registered with the SRA who regulate all conveyancing solicitors in Hartlebury. Using the find a conveyancing solicitor tool on this site, you can compare and instruct different solicitors and conveyancers both nationally and in Hartlebury.
What are the frequently found deficiencies that you come across in leases for Hartlebury properties?
Leasehold conveyancing in Hartlebury is not unique. All leases are individual and legal mistakes in the legal wording can sometimes mean that certain sections are not included. The following missing provisions could result in a defective lease:
A defective lease can cause problems when trying to sell a property as they can affect a potential buyer’s ability to obtain a mortgage. Birmingham Midshires, The Mortgage Works, and Platform Home Loans Ltd all have very detailed requirements when it comes to what is expected in a lease. If a mortgage lender believes that the lease is problematic they may refuse to provide security, forcing the buyer to pull out.
I inherited a studio flat in Hartlebury, conveyancing formalities finalised in 1996. Can you please calculate a probable premium for a statutory lease extension? Similar flats in Hartlebury with over 90 years remaining are worth £176,000. The ground rent is £50 levied per year. The lease terminates on 21st October 2099
With 80 years left to run the likely cost is going to range between £8,600 and £9,800 plus legals.
The figure above a general guide to costs for renewing a lease, but we are not able to supply the actual costs in the absence of detailed due diligence. Do not use the figures in tribunal or court proceedings. There may be other concerns 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 based on this information before getting professional advice.