Me and my partner are soon to exchange on the purchase of a house in Minera but as a consequence of wreckage from a small fire at the property I have managed to agree recompense from the vendor of £3k in the form of a deduction in the price. I had intended this to be addressed as part of the conveyancing process yet Kent Reliance will not agree to this. Should they have been involved?
Your conveyancing practitioner being on a Kent Reliance conveyancing panel is required to inform Kent Reliance of any amendments to the purchase price. If you were to refuse your property lawyer to disclose the reduction to Kent Reliance then they would have to discontinue acting for you. In addition, Kent Reliance and you would have to appoint a new lawyer for your conveyancing in Minera.
We're in Minera, First time buyers purchasing with a mortgage (lender is Bank of Ireland , and our lawyer is on the Bank of Ireland conveyancing panel). How long should the conveyancing process take?
The fact that your lawyer is on the Bank of Ireland conveyancing panel is a help. It would almost certainly delay matters if they were not. However, no solicitor should guarantee a timeframe for your conveyancing, due to third parties outside of your control such as delays caused by lenders,conveyancing search providers or by the other side’s solicitors. The time taken is often determined by the number of parties in a chain.
Are all Minera Conveyancing Quality Solicitors on the Nationwide conveyancing list of approved practices?
Some major banks and building societies now make use of CQS as the kick off point for Panel membership such as HSBC and Santander. CQS membership however is no guarantee to lender panel acceptance. Nevertheless,the Council of Mortgage Lenders have indicated that it is likely to become a pre-requisite for solicitors wishing to remain on their panels.
I am buying a property in Minera. An unusual aspect is that the roof has a solar panel. Solicitors conducting should look into this right? Will my lender Skipton be concerned?
Given that your lender is Skipton your lawyer must follow the conveyancing requirements outlined in Part 2 of UK Finance Lenders’ Handbook for Skipton. The Council of Mortgage Lenders’ Handbook includes minimum conditions for solar panel roof-space leases, and conveyancers are required to report to Skipton where a lease does not satisfy these specifications. The provisions relate to the installation of panels on properties nationwide and is not isolated to Minera.
I have finally had an offer on an apartment in Minera accepted, the vendors do however have a dependent purchase. The owners have put an offer on on an apartment, but it’s not yet tied up, and are looking at other properties in the pipeline. I have instructed a bricks and mortar conveyancing solicitor in Minera. What should be my next step? When do I get the mortgage application with Bank of Ireland going?
It is understandable to have concerns where there is a chain as you are unlikely to want to incur costs prematurely (mortgage application is approx £1k, then valuation, Minera conveyancing search charges, etc). The first thing to do is ensure that your conveyancing practitioner is on the Bank of Ireland approved list. Regarding the subsequent phase this very much depends on the circumstances of your case, attraction to this property and on the state of the market. During a rising market the majority of buyers will apply for a home loan with Bank of Ireland and pay for the valuation and only if it was satisfactory would they pay their conveyancer to proceed with the conveyancing in Minera.
Last September I purchased a leasehold property in Minera. Am I liable to pay service charges for periods before my ownership?
Where the service charge has already been demanded from the previous owner and they have not paid you would not usually be personally liable for the arrears. Strange as it may seem, your landlord may still be able to take action to forfeit the lease. It is an essential part of leasehold conveyancing for your conveyancer to ensure to have an up to date clear service charge receipt before completion of your purchase. If you have a mortgage this is likely to be a requirement of your lender.
If you purchase part way through an accounting year you may be liable for charges not yet demanded even if they relate to a period prior to your purchase. In such circumstances your conveyancer would normally arrange for the seller to set aside some money to cover their part of the period (usually called a service charge retention).
I am the registered owner of a garden flat in Minera, conveyancing having been completed 6 years ago. Can you give me give me an indication of the likely cost of a lease extension? Comparable flats in Minera with over 90 years remaining are worth £227,000. The ground rent is £50 levied per year. The lease ends on 21st October 2092
With only 72 years remaining on your lease we estimate the price of your lease extension to range between £9,500 and £11,000 as well as plus your own and the landlord's "reasonable" professional fees.
The suggested premium range above a general guide to costs for renewing a lease, but we cannot give you the actual costs without more detailed investigations. Do not use the figures in tribunal or court proceedings. There may be other issues that need to be taken into account and clearly you want to be as accurate as possible in your negotiations. Neither should you move forward based on this information before getting professional advice.
Do banks and building societies provide you with an approved list of Minera solicitors? How do you know who is on the mortgage company conveyancing panel?
Minera law firm practices and firms conducting conveyancing in Minera themselves provide us confirmation that they are on the mortgage company conveyancing panel as opposed to being supplied with a list from the mortgage company directly.