Am I correct in assuming that the fact that my conveyancer in Werrington is not listed on my bank's conveyancing panel that there is a problem with the standard of his work?
That is most likely an incorrect assumption to make. There are all sorts of perfectly plausible 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 top 5 reasons are as follows: (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 Werrington conveyancing practice and enquire why they are no longer on the approved list for your lender.
My Solicitor in Werrington is not on the Britannia Conveyancing Panel. Can I still use my family solicitor notwithstanding that they are not on the Britannia panel of approved conveyancing solicitors?
Your options are as follows:
- Carry on with your preferred Werrington solicitors but Britannia will need to use a lawyer on their list of acceptable firms. This will inevitably rack up the overall legal charges and cause frustration.
- Get a new practitioner to to deal with the conveyancing, remembering to check they are on the Britannia panel
My bid for a property was accepted at auction in Werrington. Conveyancing is needed. What are my next steps?
Given that you are now legally committed yourself to purchase you should find a conveyancing lawyer soon as you are faced with a tight a fixed date to complete the property. An auction property will have a corresponding legal pack. This will include evidence of title and search results. Where you are dealing with leasehold property the auction pack should contain a copy of the lease, management information and a sellers leasehold information form and other conveyancing paperwork specific to a leasehold property. You should give this to the lawyer instructed by you as soon as possible. Do make sure that you have funds organised to complete the transaction on the set completion date.
We expect to receive a AIP from Coventry BS this week so we know how much we could potentially offer as otherwise we only have online calculators to go by (which aren't taking into account credit checks etc). Do Coventry BS recommend any Werrington solicitors on the Coventry BS conveyancing panel, or is it better to find our own lawyer?
You will need to appoint Werrington solicitors independently although you'll need to choose one on the Coventry BS conveyancing panel. The solicitor represents both you and Coventry BS through the process.
Planning on purchasing a apartment in Werrington. I have received an online quote from a licenced conveyancer, which states: "There will be no charge for dealing with the Lender 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 Werrington property lawyer is on the Yorkshire BS conveyancing panel.
I am purchasing a new build house in Werrington with a mortgage from Halifax. The sellers refused to budge the price so I negotiated 6k of additionals instead. The estate agent told me not inform my conveyancer about this extras as it could adversely affect my mortgage with the lender. 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.
I have just started marketing my basement flat in Werrington. Conveyancing lawyers have not yet been instructed, however I have recently received a half-yearly service charge invoice – should I leave it to the buyer to sort out?
It best that you pay the maintenance contribution as you normally would as all rents and maintenance charges should be allotted as part of the financial calculations for completion monies, so you should recover the relevant percentage by the buyer for the period running from after the completion date to the subsequent invoice date. Most managing agents will not acknowledge the buyer until the service charges have been paid and are up to date, so it is important for both buyer and seller for the seller to show that they are up to date. This will smooth the conveyancing process.
I am the registered owner of a basement flat in Werrington, conveyancing having been completed in 2010. Can you please calculate a probable premium for a statutory lease extension? Corresponding flats in Werrington with over 90 years remaining are worth £165,000. The ground rent is £50 yearly. The lease expires on 21st October 2095
With 77 years unexpired we estimate the price of your lease extension to range between £7,600 and £8,800 as well as costs.
The figure that we have given is a general guide to costs for extending a lease, but we cannot give you a more accurate figure without more comprehensive investigations. Do not use the figures in a Notice of Claim or as an informal offer. There are no doubt additional issues that need to be taken into account and clearly you want to be as accurate as possible in your negotiations. Neither should you move forward placing reliance on this information without first getting professional advice.