I am told that my conveyancing solicitors will need to check that the building insurance when buying a house in Wolsingham. My lender is Nationwide Building Society
Nationwide Building Society have specific requirements as set out in the UK Finance Lenders’ Handbook. As of 8/5/2022, the requirements read as follows :
We previously instructed conveyancing lawyers located in Wolsingham on the Nottingham solicitor approved list. They have just invoiced me an additional amount for handling the Nottingham mortgage. Is this a supplemental conveyancing fee set by Nottingham?
As unfair as it may seem, as long as it’s in their Terms of Engagement or Quote then yes your lawyer is entitled to levy a fee for this. The fee is not set by Nottingham but by your Wolsingham solicitor. Some firms on the Nottingham panel will charge ’dealing with mortgage’ fee but plenty of practices include it on their overall fee.
I currently have a mortgage with Principality for my property in Wolsingham. Conveyancing was finalised a year ago. Should I wish to rent out my property and do not currently have a buy-to-let mortgage do I need to remortgage to a BTL mortgage or inform Principality?
Your original mortgage agreement with Principality will provide that you need their approval prior to letting out your property as this is likely to be a breach of Principality’s mortgage conditions. It may be that Principality will allow you to rent out your former home without needing to switch to a buy-to-let mortgage but some lenders will add a surcharge to your mortgage rate to reflect the higher risk. You should contact Principality directly. You need not do this via a Principality conveyancing panel firm.
After much negotiation I have agreed a price on a house in Wolsingham. My mortgage broker pressured me to appoint their conveyancer. I paid an on account payment of £150. Shortly after, the solicitor called me sheepishly admitting that they were not on the RBS conveyancing panel. Am I right in thinking that I should be due a refund?
You should be able to recover this from the law firm if they were not on the RBS panel. They should have asked at the outset which lender you were obtaining a mortgage with. An important lesson to readers of this site is to check that the lawyers are on the appropriate lender panel.
My wife and I have a renovated Edwardian property in Wolsingham. Conveyancing practitioner represented me and Santander. I did a free Land Registry search last week and there are a couple of entries: the first freehold, the second leasehold with the exact same address. I'd like to know for sure, how can I find out??
You need to 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 proprietor of the leasehold and freehold title as well is to check (£3). It is not completely unheard of in Wolsingham and other locations in 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 lenders. You can also question the position with your conveyancing practitioner who conducted the conveyancing.
We are one month into a residential purchase having been recommend to a firm by the estate agent to carry out the conveyancing in Wolsingham. We are not happy. Can you help me find new lawyers?
A conveyancer would need to be really poor to suggest changing them. Has the mortgage offer been sent? In the event that it has you need to inform them of the new contact details and have the loan are re-sent. Your conveyancer needs to be on the lenders panel to avoid added costs and frustration. That should be your first question of the new lawyers. The search tool will help you find a bank approved solicitor for your home move in Wolsingham
In relation to leasehold conveyancing in Wolsingham what are the most frequent lease problems?
Leasehold conveyancing in Wolsingham is not unique. Most leases are unique and drafting errors can result in certain provisions are missing. For example, if your lease is missing any of the following, it could be defective:
A provision for the recovery of money spent for the benefit of another party. A duty to insure the building
You may have difficulties when selling your property if you have a defective lease as they can affect a potential buyer’s ability to obtain a mortgage. Accord Mortgages Ltd, Skipton Building Society, and Platform Home Loans Ltd all have express conveyancing instructions when it comes to what is expected in a lease. Where a lender has been advised by their lawyers that the lease is defective they may refuse to grant the mortgage, obliging the buyer to pull out.
I acquired a split level flat in Wolsingham, conveyancing was carried out in 2010. Can you please calculate a probable premium for a statutory lease extension? Comparable properties in Wolsingham with an extended lease are worth £191,000. The ground rent is £55 yearly. The lease runs out on 21st October 2075
You have 53 years unexpired we estimate the price of your lease extension to be between £27,600 and £31,800 as well as costs.
The suggested premium range above a general guide to costs for extending a lease, but we are not able to provide a more accurate figure without more comprehensive investigations. Do not use the figures 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 should be as accurate as possible in your negotiations. Please do not take any other action placing reliance on this information before getting professional advice.