I had intended to instruct a conveyancing solicitor in Lynton for our house purchase. Our financial adviser has since notified us that our mortgage lenders Chelsea Building Society won't deal with them. Surely this is unfair competition?
Pre- 2008 most mortgage companies had an appetite for risk which was higher than today. Almost all Lynton conveyancing firms would have been on most mortgage company panels. The Financial Services Authority in 2010 conducted a thematic review into mortgage fraud which come to the conclusion: mortgage lenders should know the conveyancing solicitors dealt with. Consequently, lenders have regularly sought more information from law firms about their operations and the individuals who work for them as well as establishing certain criteria such a completing on a minimum volume of transactions. Many Lynton conveyancing firms that have been excluded from lender panels have a 100% healthy track record, no complaints and no claims and didn't just 'dabble' in conveyancing. Lynton is amongst the hundreds of locations where the solicitors we recommend are on the panel for Chelsea Building Society.
My relative advised me that if I am buying in Lynton I should ask my conveyancer to carry out a Neighbourhood, Planning and Local Amenity Search. What does it cover?
This is a search is occasionally included in the estimate for your Lynton conveyancing searches. It is not a small report of about 40 pages, listing and setting out significant information about Lynton around the property and the people living there. It includes an Aerial Photograph, Planning Applications, Land Use, Mobile Phone Masts, Rights of Way, the Lynton Housing Market, Council Tax Banding, the type of People living in the area, the dominant type of Housing, the Average House Prices, Crime details, Lynton Education with plans and statistics, Local Amenities and other useful information concerning Lynton.
My cousin has encouraged me to use his conveyancers in Lynton. Do I follow his advice?
No doubt the best way to select a conveyancing solicitor is to seek guidance from friends or family who have used the conveyancer that you are considering.
If all goes to plan we aim to complete our sale of a £300,000 apartment in Lynton next Tuesday. The freeholder has quoted £324 for Certificate of Compliance, insurance certificate and 3 years statements of service charge. Is it legal for a freeholder to charge an administration fee for a flat conveyance in Lynton?
For most leasehold sales in Lynton conveyancing will involve, queries regarding the management of a building inevitably needing to be answered directly by the freeholder or its agent, this includes :
Completing pre-contract enquiries
Where consent is required before sale in Lynton
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 am the registered owner of a garden flat in Lynton, conveyancing having been completed 8 years ago. How much will my lease extension cost? Comparable flats in Lynton with an extended lease are worth £202,000. The average or mid-range amount of ground rent is £60 yearly. The lease ceases on 21st October 2080
With only 57 years left to run we estimate the premium for your lease extension to range between £28,500 and £33,000 as well as costs.
The figure that we have given is a general guide to costs for renewing a lease, but we are not able to supply the actual costs in the absence of detailed investigations. Do not use this information in tribunal or court proceedings. There may be additional issues that need to be considered and you obviously want to be as accurate as possible in your negotiations. Neither should you take any other action placing reliance on this information before getting professional advice.
What happens where there is a problem with one of the searches for my conveyancing in Lynton?
Ordinarily, the majority of adverse entries disclosed in Lynton conveyancing search responses can be handled prior to completion or title insurance can be obtained. You should note that even though you are purchasing the property and might be willing to live with the search results, your lender may not, and ultimately the decision rests with them.