I am purchasing property in Acocks Green. My Solicitor is not on the mortgage company approved panel. Is it possible for me to appoint my Acocks Green conveyancing solicitor even though they are not on the bank panel?
One will need to have a property lawyer to deal with the legal work required if you require a mortgage to buy your home. They will conduct all the essential legal checks on the property, make sure that you’re properly registered as the owner and ensure that all the required mortgage paperwork is dealt with. You could appoint a Acocks Green lawyer of your choice. Nevertheless, if the solicitor appointed is not on the mortgage company solicitor panel additional fees will arise as separate legal representation will be need by the lender. Conveyancing panel applications may be submitted, so if your lawyer has not historically sought membership they should take the chance to apply.
Me and my partner are about to exchange buying a property in Acocks Green but as a result of damage from the recent storms I have managed to agree reparation from the current proprietors in the sum of £3k in the form of a reduction in the price. This was going to be addressed as part of the conveyancing process but UBS will not agree to this. Should they have been involved?
Any conveyancing practitioner being on a UBS conveyancing panel is required to disclose to UBS of any changes to the purchase price. If you prohibit your lawyer to report the price change to UBS then they would have to discontinue acting for you. In addition, UBS and you would have to appoint a new conveyancing practitioner for your conveyancing in Acocks Green.
The Acocks Green conveyancing firm that I appointed last week on my house acquisition in Acocks Green have without warning shut down. I only went with them because I had to have a firm on the Co-operative conveyancing panel and my family Acocks Green lawyer was not. I gave my credit card details for them to take £195 for searches. What are my options?
Assuming that you have an Estate Agent in the equation then inform them immediately so that they can let the sellers know that there may be a slight delay due to reasons beyond your control. Most sellers would be sympathetic and urge their lawyer to send a new set of papers to your new solicitors. You should appoint new lawyers that are on the Co-operative conveyancing panel and notify the lender. If you have paid over any money, it will hopefully be held by the SRA as money in an intervened firm's bank accounts is transferred to the SRA. Then, the SRA or the intervention agent looks at the intervened firm's accounts to work out who the money belongs to. To claim your money you will need to contact the SRA. If the SRA cannot return money you are owed from the firm's bank accounts, or if they can only return part of the money, you can apply to the Compensation Fund for a grant. Your new lawyers may be able to assist.
My husband and I have organised a further advance on our mortgage from Lloyds as we want to conduct a loft conversion to our house in Acocks Green. Do we need to appoint a local Acocks Green solicitor on the Lloyds conveyancing panel to deal with the paperwork?
Lloyds don't usually appoint firms on their approved list of lawyers to handle such a matter. If they do require any legal work then you would need to ensure that such a lawyer was on the Lloyds list.
I have decided to exercise my right to buy my property in Acocks Green off the council. I have a mortgage agreed with Yorkshire BS. Conveyancing is new to me. Can I proceed without a solicitor easily? I think we can but we keep being told I should use one. Any advice?
It is not advisable to proceed with a house purchase without a solicitor. The council's solicitor are not acting for you. You need a solicitor for a number reasons. One of which is to verify what plans the Council have for repairs and refurbishment for the next five years. Many leaseholders have been stung for contributions of thousands of pounds. In any event, if you are getting a mortgage with Yorkshire BS, you will need to appoint a solicitor on the Yorkshire BS conveyancing panel.
I have a mortgage with Santander for my property in Acocks Green. Conveyancing was finalised a year ago. In the event that I decide to rent out the flat and do not currently have a buy-to-let mortgage do I need to remortgage to a BTL mortgage or inform Santander?
You must advise Santander prior to renting your property as this is likely to be a breach of Santander’s mortgage conditions. In many cases banks or building societies will permit you to let 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 Santander directly. You need not do this via a Santander conveyancing panel lawyer.
Are there restrictive covenants that are commonly identified during conveyancing in Acocks Green?
Covenants that are restrictive in nature can be picked up when reviewing land registry title as part of the legal transfer of property in Acocks Green. An 1874 stipulation that was seen was ‘The houses to be erected on the estate are each to be of a uniform elevation in accordance with the drawings to be prepared or approved by the vendor’s surveyor…’
I am a negotiator for a busy estate agent office in Acocks Green where we have witnessed a few flat sales derailed as a result of leases having less than 80 years remaining. I have been given conflicting advice from local Acocks Green conveyancing firms. Please can you clarify whether the vendor of a flat can commence the lease extension process for the buyer?
Provided that the seller has owned the lease for at least 2 years it is possible, to serve a Section 42 notice to commence the lease extension process and assign the benefit of the notice to the purchaser. The benefit of this is that the proposed purchaser need not have to sit tight for 2 years to extend their lease. Both sets of lawyers will agree to form of assignment. The assignment has to be done before, or at the same time as completion of the sale.
Alternatively, it may be possible to extend the lease informally by agreement with the landlord either before or after the sale. If you are informally negotiating there are no rules and so you cannot insist on the landlord agreeing to grant an extension or transferring the benefit of an agreement to the buyer.
I own a leasehold flat in Acocks Green, conveyancing was carried out January 2001. Can you let me have an estimated range of the fair premium for a lease extension? Similar flats in Acocks Green with a long lease are worth £211,000. The ground rent is £45 levied per year. The lease ends on 21st October 2092
With just 67 years remaining on your lease we estimate the premium for your lease extension to span between £10,500 and £12,000 as well as professional fees.
The suggested premium range that we have given is a general guide to costs for extending a lease, but we cannot give you the actual costs without more detailed investigations. You should not use the figures in a Notice of Claim or as an informal offer. There may be additional concerns that need to be considered 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 seeking the advice of a professional.