Am I correct in assuming that the fact that my solicitor in Aldersgate is not listed on my mortgage company's conveyancing panel that there is a problem with the quality of the firm’s conveyancing?
It would be unwise to jump to that conclusion. There are plenty of plausible explanations. Just recently a report by the solicitors regulator revealed 76% of law firms surveyed had been removed from at least one lender panel. The most common reasons for removal are: (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. Where you are concerned you should contact the Aldersgate conveyancing firm and ask them why they are no longer on the approved list for your mortgage company.
My partner and I are refinancing our penthouse in Aldersgate with Clydesdale. We have a son approaching twenty who lives with us. Our solicitor requested us to identify anyone over the age of 17 other than ourselves who lives in the flat. The solicitor has now sent a form for our son to sign, waiving any legal rights in the event that the flat is forfeited by the lender. I have two questions (1) Is this form unique to the Clydesdale conveyancing panel as he did not need to sign this form when we remortgaged 5 years ago (2) Does our son by signing this compromise his rights to inherit the property?
On the face of it your lawyer has done nothing wrong as it is established procedure for any occupier who is aged 17 or over to sign the necessary Consent Form, which is purely to state that any rights he has in the property are postponed and secondary to Clydesdale. This is solely used to protect Clydesdale if the property were re-possessed so that in such circumstances, your son would be legally obliged to leave. It does not impact your son’s right to inherit the apartment. Please note that if your son were to inherit and the mortgage in favour of Clydesdale had not been discharged, he would be liable to take over the loan or pay it off, but other than that, there is nothing stopping him from keeping the property in accordance with your will or the rules of intestacy.
I am the sole recipient of my late grandmother’s will and I have everything in my name alone, including the house in Aldersgate. Conveyancing formalities meant that the Land Registry date was in July. I plan to dispose of the house. I understand that there is a CML 6 month 'rule', meaning my proprietorship will be considered the same way as if I'd bought the property in July. Will no one buy the property for half a year?
The Council of Mortgage Lenders’ handbook obliges conveyancers to: "report to us immediately if the owner or registered proprietor has been registered for less than six months." Technically you might be affected by that. many banks would take a pragmatic view as this provision is principally there to pick up on subsales or the flipping of properties.
We had chosen solicitors based in Aldersgate on the Principality solicitor panel. They are now charging me a further charge for dealing with the Principality mortgage. Is this a supplemental conveyancing fee specified by Principality?
Unfortunately, as long as it is in their Terms and Conditions or estimate then yes your conveyancer can charge a fee for this. The charge is not dictated by Principality but by your Aldersgate solicitor. Some firms on the Principality panel will quote an ‘acting for lender’ fee but plenty of firms incorporate it on their overall fee.
We were going to get a AIP from Principality this week so we know how much we could potentially offer as otherwise we are dependent on web based calculators (which aren't taking into account credit checks etc). Do Principality recommend any Aldersgate solicitors on the Principality conveyancing panel, or is it better to find our own lawyer?
You will need to appoint Aldersgate solicitors independently although you'll need to choose one on the Principality conveyancing panel. The solicitor represents both you and Principality through the process.
I am close to exchanging contracts on the sale of our property in Aldersgate and the buyers lawyers are claiming that there is a risk of it being constructed on contaminated land. Any local conveyancer would know this is not the case. For the life of me I don't know why the buyers are using a national conveyancing practice as opposed to a conveyancing solicitor in Aldersgate. Having lived in Aldersgate for many years we know that this is a non issue. Is it a good idea to contact our local Authority to obtain confirmation need.
It would appear that you have a conveyancing firm already. Are they able to advise? You must enquire of your lawyer before you do anything. It is very possible that once the local authority has been informed of a potential issue it cannot be insured against (a bit like being diagnosed with a serious illness and then taking out health insurance to cover that same sickness)
I'm purchasing my first flat in Aldersgate with the aid of help to buy. The sellers refused to move on the amount so I negotiated 6k of extras instead. The sale representative told me not to tell my conveyancer about the side-deal as it would affect my mortgage with Coventry Building Society. Should I keep quiet?.
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.
My wife and I purchased a leasehold house in Aldersgate. Conveyancing and Birmingham Midshires mortgage organised. A letter has just been received from someone saying they have taken over the freehold. It included a ground rent demand for rent dating back to 1994. The conveyancing practitioner in Aldersgate who acted for me is not around. Do I pay?
First make enquiries of the Land Registry to be sure that this person is in fact the registered owner of the freehold reversion. There is no need to instruct a Aldersgate conveyancing solicitor to do this as you can do this on the Land Registry website for a few pound. Rest assured that in any event, even if this is the legitimate landlord, under the Limitation Act 1980 the limitation period for recovery of ground rent is six years.
I have given up seeking a lease extension in Aldersgate. Can this matter be resolved via the Leasehold Valuation Tribunal?
Most definitely. We can put you in touch with a Aldersgate conveyancing firm who can help.
An example of a Lease Extension case for a Aldersgate residence is 137 & 139 Haberdasher Street in December 2013. The Tribunal determines in accordance with section 48 and Schedule 13 of the Leasehold Reform, Housing and Urban Development Act 1993 that the premium for the extended lease for each Property should be £12,350.00. This case related to 2 flats. The unexpired residue of the current lease was 72.39 years.