We are due to exchange on the purchase of a house in Llanbradach but as a result of damage from the recent storms I have was able negotiate compensation from the vendor in the sum of £2k in the form of a deduction in the price. I had intended this to be dealt with as part of the conveyancing process however Lloyds are not allowing this. Should they have been approached?
The conveyancing practitioner that is on a Lloyds conveyancing panel is duty bound to disclose to Lloyds of any variations to the sale price. If you were to refuse your lawyer to report the price change to Lloyds then they would have to discontinue acting for you. In addition, Lloyds and you would have to appoint a new conveyancing practitioner for your conveyancing in Llanbradach.
We note that you have a post code search directory listing law firms on the Nottingham conveyancing panel. Do companies pay you a commission if I appoint them for our conveyancing in Llanbradach?
We are a listing service only for law firms wishing to communicate if they are on the Nottingham conveyancing panel or other lender panels. We do not charge referral fees to any conveyancer that you subsequently appoint for your conveyancing in Llanbradach.
My brother-in-law has suggested I instruct a conveyancing solicitor in Llanbradach. I I would like to check if they are on the Clydesdale approved list of lawyers. Could you help?
The first thing you should do is phone your solicitor and ask them whether they can act for the bank. Otherwise you can call Clydesdale who may be able to assist.
I am purchasing my first flat in Llanbradach with a loan from Nationwide Building Society. The developers would not move on the amount so I negotiated £7000 of additionals instead. The estate agent advised me not disclose to my lawyer about the extras as it may jeopardize my loan with Nationwide Building Society. 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.
Can you offer any advice when it comes to finding a Llanbradach conveyancing practice to deal with our lease extension?
When appointing a property lawyer for lease extension works (regardless if they are a Llanbradach conveyancing practice) it is imperative that he or she should be familiar with the legislation and specialises in this area of work. We advise that you speak with several firms including non Llanbradach conveyancing practices prior to instructing a firm. Where the conveyancing practice is ALEP accredited then so much the better. The following questions might be useful:
What are the charges for lease extension work? How familiar is the practice with lease extension legislation?
I own a split level flat in Llanbradach, conveyancing having been completed 9 years ago. Can you work out an approximate cost of a lease extension? Comparable flats in Llanbradach with an extended lease are worth £260,000. The ground rent is £45 yearly. The lease expires on 21st October 2097
With 74 years remaining on your lease the likely cost is going to span between £8,600 and £9,800 plus legals.
The suggested premium range above a general guide to costs for extending a lease, but we cannot give you the actual costs in the absence of comprehensive due diligence. Do not use the figures in a Notice of Claim or as an informal offer. 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 move forward based on this information without first getting professional advice.