Me and my fiance are buying a 1 bedroom apartment in St Werburghs with a mortgage. We have a St Werburghs lawyer, but the bank advise she’s not on their "panel". We have to appoint one of the lender panel solicitors or continue with our St Werburghs solicitor as well as pay for one of their panel firms to act for them. We feel that this is inequitable; can we not require that the mortgage company use our St Werburghs property lawyer ?
Unfortunately,no. Your mortgage offer is subject to its terms and conditions, one of which will be that lawyers will on the lender’s conveyancing panel. Until recently, most lenders had large numbers of law firms on their panels: a borrower could choose one for themselves, as long as it was on the lender's panel. The lender would then simply instruct the borrower's lawyers to act for the lender, too. You can use your lender's panel lawyers or you could borrow from another lender which does not restrict your choice. Another option that might be available is for your St Werburghs conveyancing lawyer to apply to be on the conveyancing panel.
We had instructed conveyancers locally in St Werburghs on the Aldermore solicitor approved list. They have just invoiced me a further fee for handling the Aldermore mortgage. Is this a supplemental conveyancing fee specified by Aldermore?
Unfortunately, so long as it is in their Terms and Conditions or Quote then yes your solicitor may charge a fee for this. The charge is not dictated by Aldermore but by your St Werburghs conveyancer. Numerous firms on the Aldermore panel will quote an ‘acting for lender’ fee and others do not.
I am selling my apartment. I had a double glazing fitted in March 2006, but did not receive a FENSA certificate or Building Regulation Certificate. My purchaser’s mortgage company, HSBC are being pedantic. The St Werburghs solicitor who is on the HSBC conveyancing panel is happy to accept ‘lack of building regulation’ insurance but HSBC are insisting on a building regulation certificate. Why do HSBC have a conveyancing panel if they don't accept advice from them?
It is probably the case that HSBC have referred the matter to their valuer. The reason why HSBC may not want to accept indemnity insurance is because it does not give them any reassurance that the double glazing was correctly and safely installed. The indemnity insurance merely protects against enforcement action which is very unlikely anyway.
After shopping around on the internet I have found a St Werburghs solicitor having checked that they are on the Lloyds conveyancing panel. Does my lawyer arrange the survey of the property?
Lloyds will need an independent valuation of the property. Your lawyer will not arrange this. Usually Lloyds will appoint their own surveyor to do this, and you will have to pay for it. Remember that this is a valuation for mortgage purposes and not a survey. You may wish to consider appointing your own St Werburghs surveyor to carry out a survey or prepare a home buyers report on the property. It is up to you to satisfy yourself that the property is structurally sound before you buy it. If the survey or report reveals that building work is needed, you should tell your solicitor. You may wish to renegotiate with the seller.
I'm buying a new build house in St Werburghs with a loan from Nottingham Building Society. The developers refused to move on the price so I negotiated 6k of extras instead. The sale representative told me not disclose to my solicitor about this side-deal as it would put at risk my loan with Nottingham Building Society. Should I keep quiet?.
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.
Is there anything unique about your site and alternative online quote calculators for conveyancing in St Werburghs?
At this site receive an accurate quote from a Solicitor or Licensed Conveyancer that understands the nuances of your conveyancing in St Werburghs. Unlike many estate agents and brokerage sites we are not in the business of charging firms a commission if you appoint them for your conveyancing in St Werburghs
I only have 68 years remaining on my lease in St Werburghs. I am keen to extend my lease but my freeholder is absent. What are my options?
On the basis that you qualify, under the Leasehold Reform, Housing and Urban Development Act 1993 you can submit an application to the County Court for an order to dispense with the service of the initial notice. This will mean that your lease can be extended by the magistrate. However, you will be required to prove that you have done all that could be expected to find the lessor. For most situations a specialist should be helpful to carry out a search and to produce a report to be accepted by the court as evidence that the freeholder is indeed missing. It is wise to seek advice from a solicitor both on investigating the landlord’s absence and the vesting order request to the County Court covering St Werburghs.
I own a garden flat in St Werburghs, conveyancing having been completed half a dozen years ago. Can you let me have an estimated range of the fair premium for a lease extension? Similar flats in St Werburghs with an extended lease are worth £201,000. The average or mid-range amount of ground rent is £45 yearly. The lease finishes on 21st October 2084
You have 65 years unexpired we estimate the premium for your lease extension to span between £13,300 and £15,400 as well as legals.
The suggested premium range that we have given is a general guide to costs for extending a lease, but we are not able to advice on the actual costs without more detailed investigations. You should not use this information in tribunal or court proceedings. There are no doubt other concerns that need to be taken into account and clearly you want to be as accurate as possible in your negotiations. You should not take any other action placing reliance on this information before seeking the advice of a professional.