My husband and I are buying a 3 bedroom apartment in Walton on the Naze with a mortgage. We like our Walton on the Naze solicitor, however the bank advise he's not on their "panel". We have to appoint one of the bank panel firms or keep our Walton on the Naze solicitor as well as pay for one of their panel ones to represent them. We consider that this is inequitable; are we not able to insist that the bank use our Walton on the Naze lawyer ?
Unfortunately,no. The mortgage offered to you is subject to its terms and conditions, one of which will be that lawyers will on the bank’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. A further alternative is for your Walton on the Naze conveyancing lawyer to apply to be on the conveyancing panel.
Completed the sale of my flat in Walton on the Naze last October but the buyer keeps calling daily complaining that their solicitor needs to hear from mylawyer. What are the post completion sale legalities now that I have sold?
Following your house sale your solicitor should send the transfer documentation and all of the paperwork to the purchaser's conveyancer. Where relevant, your solicitor should also evidence that the home loan has been paid off to the purchasers lawyers. There is unlikely to be post completion tasks specific conveyancing in Walton on the Naze.
Despite weeks of looking the Title Certificate and documents to our house are lost. The solicitors who conducted the conveyancing in Walton on the Naze 5 years ago have long since closed. Will I be able to sell the house?
In today’s world there are duplicates made of almost everything, and your conveyancer should know precisely where to locate all the relevant documentation so you can buy or dispose of your property without a hitch. Where copies can’t be found, your solicitor may be able to put in place insurance or indemnities against future claims on the property.
I am purchasing a new build house in Walton on the Naze with the aid of help to buy. The builders would not reduce the amount so I negotiated 6k of fixtures and fittings instead. The sale representative suggested that I not inform my lawyer about this extras as it may put at risk my mortgage with HSBC Bank. Do I keep my lawyer in the dark?.
All lenders require a Disclosure of Incentives Form from the developer 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.
Can you provide any top tips for leasehold conveyancing in Walton on the Naze with the aim of expediting the sale process?
- Much of the delay in leasehold conveyancing in Walton on the Naze can be reduced if you appoint lawyers as soon as you market your property and ask them to put together the leasehold documentation needed by the purchasers’ representatives. If you have carried out any alterations to the premises would they have required Landlord’s consent? In particular have you installed wooden flooring? Most leases in Walton on the Naze state that internal structural alterations or laying down wooden flooring calls for a licence from the Landlord acquiescing to such alterations. Where you dont have the paperwork in place you should not contact the landlord without checking with your lawyer in the first instance. The majority of freeholders or Management Companies in Walton on the Naze levy fees for providing management packs for a leasehold home. You or your lawyers should enquire as to the actual amount of the charges. The management pack sought on or before finding a buyer, thus reducing delays. The average time it takes to receive management information is three weeks. It is the most common reason for frustration in leasehold conveyancing in Walton on the Naze. If you have had any disputes with your freeholder or managing agents it is essential that these are settled before the property is marketed. The purchasers and their solicitors will be concerned about purchasing a property where there is an ongoing dispute. You may have to bite the bullet and discharge any arrears of service charge or settle the dispute prior to the buyers completing the purchase. It is therefore preferable to have any dispute settled prior to the contract papers being issued to the buyers’ solicitors. You will still have to reveal details of the dispute to the buyers, but it is clearly preferable to reveal the dispute as historic rather than ongoing.
I inherited a leasehold flat in Walton on the Naze, conveyancing formalities finalised October 2004. How much will my lease extension cost? Similar properties in Walton on the Naze with an extended lease are worth £191,000. The average or mid-range amount of ground rent is £55 per annum. The lease finishes on 21st October 2073
With 54 years remaining on your lease we estimate the price of your lease extension to be between £32,300 and £37,400 plus legals.
The suggested premium range that we have given is a general guide to costs for extending a lease, but we cannot give you a more accurate figure in the absence of detailed investigations. You should not use this information in a Notice of Claim or as an informal offer. There may be additional concerns that need to be considered and clearly you want to be as accurate as possible in your negotiations. Please do not move forward placing reliance on this information before seeking the advice of a professional.