Is the fact that my solicitor in Yarm On Tees is not on my bank's conveyancing panel that there is a problem with the quality of the firm’s conveyancing?
That would most likely be a wrong assumption to make. There are all sorts of perfectly plausible explanations. Just recently a report by the solicitors regulator indicated 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 lawyer 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 Yarm On Tees conveyancing firm and enquire why they are no longer on the approved list for your lender.
I am purchasing a 4 bedroom semi-detached house in Yarm On Tees. Our aim is to carry out an extension to the side at the house.Will legal due diligence on the property involve enquiries to see if these works are prohibited?
Your property lawyer should review the registered title as conveyancing in Yarm On Tees can occasionally reveal restrictions in the title deeds which restrict categories of works or need the permission of another owner. Many additions call for local authority planning consent and approval in accordance building regulations. Certain areas are designated conservation areas and special planning restrictions apply which frequently prevent or affect extensions. You should check these issues with a surveyor ahead of any purchase.
My wife and I have arranged the release of further monies on our home loan from Leeds Building Society as we wish to carry out alterations to our property in Yarm On Tees. Do we need to appoint a high street Yarm On Tees solicitor on the Leeds Building Society conveyancing panel to deal with the paperwork?
Leeds Building Society don't usually require a member of their conveyancing panel to handle the formalities. If they do require any legal work then you would need to ensure that such a lawyer was on the Leeds Building Society list.
I have paid off my mortgage with Principality. I assume I don't need a Yarm On Tees property lawyer on the Principality panel to remove the mortgage at the Land Registry. Am I right?
If you have finished paying off your Principality mortgage, they may send you evidence showing that you have paid it off. Alternatively they may notify the Land Registry directly. The Land Registry need to see this evidence before they will remove the Principality mortgage from the register. Principality, and any evidence they send you, will determine the action you need to take. In cases where no conveyancer is acting for you and you have paid off your mortgage:
- but are not moving to another property
- where Principality has sent the Land Registry the discharge electronically, and
- Principality has instructed the Land Registry to do so
I'm purchasing a new build house in Yarm On Tees with a mortgage from Virgin Money. The builders refused to budge the price so I negotiated 6k of fixtures and fittings instead. The house builders rep suggested that I not reveal to my solicitor about the extras as it could put at risk my mortgage with the lender. Is this normal?.
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.
I am looking for a flat up to £245,000 and identified one round the corner in Yarm On Tees I like with a park and transport links nearby, however it only has 51 remaining years left on the lease. I can't really find anything else in Yarm On Tees suitable, so just wondered if I would be making a mistake acquiring a lease with such few years left?
Should you need a mortgage that many years will likely be problematic. Discount the price by the anticipated lease extension will cost if not already taken into account. If the current proprietor has owned the property for a minimum of 2 years you could ask them to start the process of the extension and then assign it to you. You can add 90 years to the existing lease term and have £0 ground rent by law. You should speak to your conveyancing lawyer regarding this.
Been searching for a lawyer for freehold sale conveyancing in Yarm On Tees. We are selling, uncomplicated no mortgage to pay off, no hurry, currently vacant. Got an estimate from a conveyancing practitioner for nine hundred pounds plus VAT which is a tad expensive given that its so straightforward. Can I pay less for conveyancing in Yarm On Tees?
Given that it’s a sale only, £500 + VAT would be about the cheapest for sale conveyancing in Yarm On Tees.