My fiance and I wish to acquire a newly converted apartment in Wellingborough with a homeloan from HSBC Bank.We like our Wellingborough conveyancing solicitor but HSBC Bank informed us she’s not listed on their approved list of member firms. It seems we have no choice but to instruct a HSBC Bank panel lawyer or retain our high street solicitor and fork out for a HSBC Bank panel lawyer to act for them. We feel as though this is unjust; is there anything we can do?
No, not really. The mortgage offered to you contains various provisions, a common one being that conveyancers must be on the HSBC Bank approved list. in the past, most banks had large numbers of law firms on their panels: a borrower could find 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 solicitors to apply to be on the conveyancing panel for HSBC Bank
We previously instructed conveyancing lawyers locally in Wellingborough on the UBS solicitor approved list. They are now charging me an additional sum for handling the UBS mortgage. Is this a supplemental conveyancing fee set by UBS?
Provided it is contained in their Terms and Conditions or Quote then yes your conveyancing practitioner is entitled to levy a fee for this. This fee is not dictated by UBS but by your Wellingborough property lawyer. Some firms on the UBS panel will quote ’dealing with mortgage’ fee but some firms include it on their overall fee.
I am selling my apartment. I had a double glazing fitted in August 2007, but did not receive a FENSA certificate or Building Regulation Certificate. My buyer's mortgage company, Nationwide are being a right pain. The Wellingborough solicitor who is on the Nationwide conveyancing panel is recommending indemnity insurance as a solution but Nationwide are requiring a building regulation certificate. Why do Nationwide have a conveyancing panel if they don't accept advice from them?
It is probably the case that Nationwide have referred the matter to their valuer. The reason why Nationwide 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.
About to purchase maisonette in Wellingborough. I have received an online quote from a licenced conveyancer, which states: "There will be no charge for dealing with the Building Society if you are obtaining a mortgage". I take this to mean that there will be no additional fee if the solicitor is on the Yorkshire BS conveyancing panel. I wanted to make sure it means there will be no additional fees for dealing with the mortgage.
They are simply saying that the cost for acting for the lender is included in the fee being quoted. It is worth you checking that the Wellingborough solicitor is on the Yorkshire BS conveyancing panel.
Will commercial conveyancing searches reveal impending roadworks that may impact a commercial estate in Wellingborough?
Many commercial conveyancing solicitors in Wellingborough will perform a SiteSolutions Highways report as it reduces the time that conveyancers spend in looking into accurate data on highways that impact buildings and development assets in Wellingborough. The search result provides definitive data on the adoption status of roads, footpaths and verges, as well as the implication of traffic schemes and the rights of way surrounding a commercial development sites in Wellingborough.
For every commercial conveyancing transaction in Wellingborough it is crucial to investigate the adoption status of roads surrounding a site. The absence of identifying developments where adoption procedures have not been addressed adequately can result in delays to Wellingborough commercial conveyancing deals as well as present a risk to future intentions for the site. These searches are not conducted for domestic conveyancing in Wellingborough.
I own a renovated Georgian property in Wellingborough. Conveyancing solicitor represented me and Santander. I did a free Land Registry search last week and I saw a couple of entries: one for freehold, another for leasehold with the exact same address. Is it worth asking Santander to clarify?
You should assess the Freehold register you have again and check the Charges Register for mention of a lease. The best way to be sure that you are also the registered owner of the leasehold and freehold title as well is to check (£3). It is not completely unheard of in Wellingborough and other areas of the country and poses no real issues for owners other than when they remortgage they have to account for both freehold and leasehold interests when dealing with purchasers. You can also check the situation with the conveyancing lawyer who conducted the conveyancing.
I today plan to offer on a house that appears to tick a lot of boxes, at a great price which is making it all the more appealing. I have since discovered that it's a leasehold rather than freehold. I am assuming that there are particular concerns purchasing a leasehold house in Wellingborough. Conveyancing lawyers have are soon to be instructed. Will they explain the issues?
The majority of houses in Wellingborough are freehold rather than leasehold. This is one of the situations where having a local conveyancer used to dealing with such properties who can assist with the conveyancing process. We note that you are purchasing in Wellingborough in which case you should be shopping around for a Wellingborough conveyancing solicitor and be sure that they are used to advising on leasehold houses. As a matter of priority you will need to check the number of years remaining. As a lessee you will not be at liberty to do whatever you want to the property. The lease will likely included provisions for example requiring the landlord’sconsent to carry out alterations. You may also be required to pay a maintenance charge towards the maintenance of the communal areas where the house is located on an estate. Your conveyancer should report to you on the legal implications.
I am the registered owner of a 1st floor flat in Wellingborough, conveyancing formalities finalised half a dozen years ago. Can you work out an approximate cost of a lease extension? Corresponding properties in Wellingborough with a long lease are worth £216,000. The average or mid-range amount of ground rent is £50 per annum. The lease expires on 21st October 2088
You have 69 years remaining on your lease we estimate the price of your lease extension to span between £9,500 and £11,000 as well as legals.
The figure that we have given is a general guide to costs for renewing a lease, but we are not able to advice on the actual costs without more comprehensive due diligence. Do not use this information in a Notice of Claim or as an informal offer. There may be other issues that need to be taken into account and you obviously should be as accurate as possible in your negotiations. Please do not take any other action based on this information before getting professional advice.