We are looking to buy a property and need a conveyancing solicitor in Oldbury who is on the UBS conveyancing panel. Can you recommend a local firm?
Our service is limited to being a directory service for firms who wish to be listed as being on the approved conveyancing panel for UBS . We don't recommend any particular firms conducting conveyancing in Oldbury.
I'm buying my first flat in Oldbury with a loan from National Westminster Bank. The builders would not reduce the price so I negotiated 6k of extras instead. The estate agent advised me not to tell my lawyer about this extras as it will put at risk my loan with the bank. Do I keep my lawyer in the dark?.
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.
Do I need to be concerned by brokers that I am dealing with are encouraging me to use an online conveyancing firm rather than a local Oldbury conveyancing practice?
As is the case with lots of professional services, often referrals from relatives can be worth their weight in gold. But there are numerous parties with a keen interest in a conveyancing transaction; estate agents, mortgage brokers and mortgage companies might all recommend solicitors to appoint. Sometimes the conveyancers might be known to one of the organisations as being good in their field, but sometimes there behind the scenes commercial relationship behind the recommendation. You are free to choose your own lawyer. Don't forget that most lenders have an approved list of conveyancers you are obliged to use for the mortgage aspect of your house move.
I have recently realised that I have Fifty years unexpired on my flat in Oldbury. I now want to get lease extension but my freeholder is can not be found. What should I do?
If you qualify, under the Leasehold Reform, Housing and Urban Development Act 1993 you can submit an application to the County Court for for permission to dispense with the service of the initial notice. This will mean that your lease can be granted an extra 90 years by the magistrate. You will be obliged to prove that you or your lawyers have made all reasonable attempts to track down the freeholder. On the whole an enquiry agent should be useful to conduct investigations and to produce a report which can be accepted by the court as evidence that the freeholder can not be located. It is advisable to get professional help from a property lawyer both on devolving into the landlord’s absence and the application to the County Court overseeing Oldbury.
I inherited a studio flat in Oldbury, conveyancing was carried out 6 years ago. How much will my lease extension cost? Corresponding flats in Oldbury with over 90 years remaining are worth £202,000. The average or mid-range amount of ground rent is £60 invoiced every year. The lease finishes on 21st October 2077
With just 57 years left to run the likely cost is going to range between £28,500 and £33,000 plus costs.
The figure above a general guide to costs for extending a lease, but we cannot give you a more accurate figure in the absence of detailed due diligence. Do not use this information in a Notice of Claim or as an informal offer. There are no doubt additional issues that need to be considered and clearly you want to be as accurate as possible in your negotiations. You should not move forward placing reliance on this information without first seeking the advice of a professional.
My step-son is embarking on her first house purchase, the home loan was agreed last week in principle. After the seller agreed the offer on the apartment we called the mortgage institution to move forward with his. We were very surprised to hear that mortgage companies do not accept all lawyer, they have to be on a list, is this legal?
Mortgage Companies normally restrict either the type or the number of conveyancing firms on their panel. A common example of such restriction(s) being that a firm must have two or more partners. In addition to restricting the type of firm, some have decided to limit the number of firms they use to represent them. You should note that banks have no responsibility for the quality of advice provided by any Oldbury conveyancer on their panel. Mortgage fraud was a key driver in the rationalisation of conveyancing panels a few years ago and whilst there are differing views about the extent of solicitor involvement in some of that fraud. Statistics from the Land Registry reveal that thousands of law firms only carry out one or two conveyances a year. Those supporting conveyancing panel cuts ask why law firms should have the right to be on a Lender panel when clearly, conveyancing is not their speciality. To put it another way; would you want a conveyancing solicitor to represent you if you were charged with a crime? Unlikely.