Am I correct in assuming that the fact that my conveyancer in Stoke Poges is not on my mortgage company's conveyancing panel that there is a problem with the quality of her conveyancing?
That is more than likely an incorrect assumption to make. There are all sorts of perfectly reasonable explanations. A recent report by the solicitors regulator revealed that over three quarters of law firms surveyed had been removed from at least one lender panel. The most common reasons for removal are: (1) low volume of transactions (2) the solicitor is a sole practitioner (3) as part of the HSBC panel reduction (4) regulatory contact by SRA (5) accidental removal. Should you be concerned you should contact the Stoke Poges conveyancing firm and ask them why they are no longer on the approved list for your bank.
My bid for a property was accepted at auction in Stoke Poges. Conveyancing is necessary. What happens now?
Given that you are now exchanged you should appoint a conveyancing lawyer quickly as you will have a tight deadline in which to complete the conveyancing. An auction property will ordinarily have an associated auction set of papers. This will likely include the copy title deeds, local authority and drainage searches. If you have purchased leasehold premises the conveyancing papers may contain a copy of the lease, management information and a sellers leasehold information form and other conveyancing documentation relating to leasehold premises. You must pass this on to your appointed conveyancing solicitor at the earliest opportunity. Do make sure that you have funds in place to complete the transaction on the set completion date.
I'm the sole recipient of my late father’s will and I have everything in my name now, including the house in Stoke Poges. Conveyancing formalities meant that the Land Registry date was in September. I now wish to sell up. I understand that there is a Mortgage Lenders six month 'rule', meaning my property ownership will be regarded the same way as if I'd bought the house in September. Is the property unsalable for six months?
The Council of Mortgage Lenders’ handbook obliges solicitors to: "report to us immediately if the owner or registered proprietor has been registered for less than six months." By the strict wording you could be caught by that. How practical a view lenders take of it, depend on the mortgage company as this clause is principally there to capture subsales or the flipping of property.
I am expecting a DIP from UBS this week so we can work out what to offer on a property we like as otherwise we only have online calculators to go by (which aren't taking into account credit checks etc). Do UBS recommend any Stoke Poges solicitors on the UBS conveyancing panel, or is it better to find our own lawyer?
You will need to appoint Stoke Poges solicitors independently although you'll need to choose one on the UBS conveyancing panel. The solicitor represents both you and UBS through the process.
I'm buying a new build house in Stoke Poges with a loan from TSB. The sellers would not move on the amount so I negotiated £7000 of additionals instead. The property agent advised me not reveal to my lawyer about the deal as it may impact my mortgage with the bank. 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.
I only have Fifty years left on my lease in Stoke Poges. I now want to get lease extension but my landlord is missing. 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 an order 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 demonstrate that you have made all reasonable attempts to find the freeholder. In some cases an enquiry agent should be useful to carry out a search and to produce a report which can be accepted by the court as evidence that the landlord can not be located. It is wise to seek advice from a conveyancer in relation to investigating the landlord’s disappearance and the application to the County Court overseeing Stoke Poges.
I invested in buying a leasehold flat in Stoke Poges, conveyancing formalities finalised January 1997. Can you let me have an estimated range of the fair premium for a lease extension? Equivalent flats in Stoke Poges with over 90 years remaining are worth £181,000. The average or mid-range amount of ground rent is £55 invoiced annually. The lease expires on 21st October 2071
With 50 years remaining on your lease we estimate the premium for your lease extension to be between £31,400 and £36,200 as well as costs.
The figure that we have given is a general guide to costs for renewing a lease, but we cannot give you the actual costs without more comprehensive investigations. Do not use this information in a Notice of Claim or as an informal offer. There may be additional issues 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 based on this information without first seeking the advice of a professional.
I have appointed a Stoke Poges conveyancing solicitor for our house purchase (novice purchasers) and have noticed in the engagement letter that they are not overseen by the Financial Conduct Authority. Need I be concerned or is that the norm with solicitor?
We can't see why they should be. Most conveyancing practitioner don't lend money. You should check that they are regulated by the SRA, who have stringent laws in place on funds deposited by them.