Is it the case that all Whittlesey CQS (Conveyancing Quality Scheme) solicitors are on the Yorkshire BS conveyancing list of approved practices?
Some major lenders now make use of CQS as the starting point for Panel approval such as HSBC and Santander. The Law Society’s CQS membership however gives no guarantee to lender panel acceptance. That being said,the Council of Mortgage Lenders have indicated that it is likely to become a pre-requisite for solicitor practices wishing to remain on their approved list of conveyancing solicitors.
We are getting the release of further funds on our home loan from Kent Reliance as we wish to carry out alterations to our property in Whittlesey. Do we need to select a bricks and mortar Whittlesey solicitor on the Kent Reliance conveyancing panel to handle the legals?
Kent Reliance do not ordinarily appoint firms on their conveyancing panel to deal with the formalities. If they do require any legal work then you would need to ensure that such a lawyer was on the Kent Reliance list.
The formalities of my remortgage has taken place for my property in Whittlesey. Conveyancing was a necessary evil but I feel I should register my dissatisfaction about the lender. How do I make a complaint?
All banks and building societies have complaints procedures. Your first port of call should be one of the lender’s branches or the Customer Care Department at head office. In most cases complaints to a lender are sorted out effectively and efficiently. However if you are not satisfied that the matter is not resolved you can write to Financial Ombudsman Service, South Quay Plaza, 183 Marsh Wall, London E14 9SR who will take matters further.
I'm buying my first flat in Whittlesey with the aid of help to buy. The sellers refused to reduce the price so I negotiated 6k of extras instead. The house builders rep suggested that I not disclose to my lawyer about the side-deal as it could adversely affect my loan with Nationwide Building Society. Is this normal?.
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 been on the look out for a flat up to £195,000 and identified one near me in Whittlesey I like with a park and railway links in the vicinity, the downside is that it's only got 51 years on the lease. There is not much else in Whittlesey in this price bracket, so just wondered if I would be making a mistake purchasing a short lease?
Should you need a home loan the shortness of the lease may be an issue. Reduce the price by the anticipated lease extension will cost if not already taken into account. If the current owner has owned the property for a minimum of twenty four months you may request that they start the process of the extension and pass it to you. You can add 90 years to the existing lease with a zero ground rent applied. You should consult your conveyancing lawyer concerning this matter.
My husband and I are 17 days into a leasehold purchase having been directed to a firm by the high street agent to carry out the conveyancing in Whittlesey. I am am starting to be dissatisfied with the quality of service. Can you help me find new solicitors?
They would have to be really poor to suggest diss instructing them. Has your mortgage been generated? In the event that it has you need to inform them of the new lawyer and get the mortgage documents are issued to the new lawyers. The solicitor ideally should be on the lenders approved list to avoid escalating expenses and complications. That should be your first question of the new lawyers. Our search tool will assist you in finding a lender approved solicitor for your home move in Whittlesey
Planning to sign contracts shortly on a leasehold property in Whittlesey. Conveyancing solicitors inform me that they are sending me a report next week. What should I be looking out for?
Your report on title for your leasehold conveyancing in Whittlesey should include some of the following:
You need to be told what constitutes a Nuisance as far as the lease is concerned Advice as to the provision in the lease to pay service charges - in respect of the block, and the wider rights a leaseholder has You should have a good understanding of the insurance provisions You should be sent a copy of the lease What options are open to you if an adjoining owner is in violation of a provision in their lease?
I acquired a leasehold flat in Whittlesey, conveyancing having been completed half a dozen years ago. Can you please calculate a probable premium for a statutory lease extension? Comparable properties in Whittlesey with a long lease are worth £175,000. The ground rent is £65 invoiced annually. The lease runs out on 21st October 2077
With just 58 years remaining on your lease we estimate the price of your lease extension to be between £23,800 and £27,400 as well as professional fees.
The suggested premium range above a general guide to costs for renewing a lease, but we are not able to advice on the actual costs without more comprehensive investigations. Do not use the figures in tribunal or court proceedings. There are no doubt additional issues that need to be taken into account and you obviously should be as accurate as possible in your negotiations. Neither should you take any other action based on this information before getting professional advice.