Am I correct in assuming that the fact that my conveyancer in Hemsworth is not identified on my bank's conveyancing panel that there is a problem with the quality of his work?
It would not be wise to jump to that conclusion. There are plenty of reasonable explanations. Just recently a report by the solicitors regulator revealed that over three quarters of law firms surveyed had been removed from at least one lender panel. The top 5 reasons are as follows: (1) lack of transactions (2) the solicitor is a sole practitioner (3) as part of the HSBC panel reduction (4) regulatory contact by SRA (5) accidental removal. Should you be concerned you should simply call the Hemsworth conveyancing practice and ask them why they are no longer on the approved list for your mortgage company.
I have an AIP. The lender mentioned the home loan came with free conveyancing. Is the implication that I have to appoint their panel lawyer as I would prefer to use a specialised conveyancing solicitor in Hemsworth?
You should check but the the probability is that appoint one of their panel solicitors where you want the "fee-free" deal. Speak to the lender to check if they offer you a monetary alternative. In the past a few mortgage companies offered a £250 cashback as an alternative in which case you could put that amount towards the cost for your conveyancing solicitor in Hemsworth.
I just bought a property at auction in Hemsworth. Conveyancing is required. What happens now?
Having for all intents and purposes signed on the dotted line you will need to find a conveyancing lawyer quickly as you are facing a tight deadline in which to complete the deal. An auction property should have an associated legal pack. This should include most,if not all of the paperwork that your conveyancer will need. If you have purchased leasehold premises the legal pack should contain a copy of the lease, management information and a sellers leasehold information form and other conveyancing paperwork specific to leasehold premises. You should give this to the conveyancer instructed by you ASAP. Do make sure that that you have the requisite funding in order to complete the transaction on the set completion date.
I am purchasing a property in Hemsworth. A rare aspect is that the roof has a solar panel. Solicitors conducting should look into this right? Will my lender Principality be concerned?
As your lender is Principality your lawyer must follow the formal requirements set out in Part 2 of UK Finance Lenders’ Handbook for Principality. The Council of Mortgage Lenders’ Handbook includes minimum requirements for solar panel roof-space leases, and conveyancing practitioners are required to report to Principality where a lease fails to comply with these conditions. The conditions relate to the installation of panels on properties in England and Wales and is not isolated to Hemsworth.
Intending to buy a house in Hemsworth. I have received an online quote from a licenced conveyancer, which states: "There will be no charge for dealing with the Lender if you are obtaining a mortgage". I take this to mean that there will be no additional fee if the solicitor is on the RBS 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 Hemsworth conveyancer is on the RBS conveyancing panel.
I am purchasing my first flat in Hemsworth benefiting from help to buy. The sellers refused to move on the price so I negotiated £7000 of fixtures and fittings instead. The house builders rep suggested that I not disclose to my lawyer about the extras as it could put at risk my mortgage with the lender. Is this normal?.
All lenders require a Disclosure of Incentives Form from the builder 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.
Our conveyancer has advised that he intends to complete and exchange simultaneously on the sale of our £200,000 maisonette in Hemsworth in just under a week. The landlords agents has quoted £372 for Landlord’s certificate, building insurance schedule and previous years service charge statements. Is it legal for a freeholder to charge exorbitant fees for a leasehold conveyance in Hemsworth?
Hemsworth conveyancing on leasehold flats usually results in fees being levied by management companies :
Completing pre-exchange enquiries
Where consent is required before sale in Hemsworth
Copies of the building insurance and schedule
Deeds of covenant upon sale
Registering of the assignment of the change of lessee after a sale
I inherited a ground floor flat in Hemsworth, conveyancing having been completed in 1996. Can you shed any light on how much the price could be for a 90 year extension to my lease? Comparable flats in Hemsworth with an extended lease are worth £222,000. The ground rent is £50 yearly. The lease ceases on 21st October 2088
With just 70 years remaining on your lease the likely cost is going to span between £9,500 and £11,000 plus plus your own and the landlord's "reasonable" professional fees.
The suggested premium range that we have given is a general guide to costs for renewing a lease, but we are not able to provide the actual costs without more comprehensive due diligence. You should not use this information in a Notice of Claim or as an informal offer. There are no doubt other issues that need to be taken into account and you obviously should be as accurate as possible in your negotiations. Please do not move forward based on this information without first seeking the advice of a professional.