Completed the sale of my flat in Arundel last February but our buyer keeps texting daily complaining that her lawyer needs to hear from myconveyancer. What are the post completion sale formalities now that I have sold?
Following your house sale your conveyancer should send the transfer deeds and all supplemental paperwork to the purchaser's solicitors. If applicable, your lawyer should also evidence that the mortgage has been discharged to the buyers conveyancers. There are no post completion requirements specific conveyancing in Arundel.
We are purchasing a 2 bedroom apartment in Arundel with a residential mortgage from Barnsley Building Society.We like our Arundel conveyancing solicitor but Barnsley Building Society informed us he's not listed on their approved list of member firms. we are left little option but to use a Barnsley Building Society panel firm or keep our local solicitor and pay for one of their panel ones to act for them. This seems very unfair; Can we not simply insist that Barnsley Building Society use our lawyer?
No, not really. The loan offered to you is subject to its terms and conditions, one of which will be that solicitors must be on the Barnsley Building Society approved list. Until recently, most mortgage companies had large numbers of law firms on their panels: a borrower could find one for themselves, as long as it was on the lender's panel. The lender would then simply instruct the borrower's lawyers to act for the lender, too. You can use your lender's panel lawyers or you could borrow from another lender which does not restrict your choice. Another option that might be available is for your lawyer to apply to be on the conveyancing panel for Barnsley Building Society
I'm purchasing a new build house in Arundel with a loan from Bank of Ireland. The sellers would not budge the price so I negotiated £7000 of extras instead. The sale representative advised me not disclose to my lawyer about the extras as it could affect my loan with the lender. Should I keep quiet?.
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 UK Finance website. UK Finance 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.
How difficult is it to switch firm as I need to retain one who is on the Lloyds TSB Bank conveyancing panel. I had appointed a family conveyancing solicitor in Arundel round the corner but the firm is not approved by Lloyds TSB Bank
We will our best to assist in finding you a conveyancing solicitor in Arundel on the Lloyds TSB Bank panel. Please note that the solicitors that we on the directory do not pay us a referral fee if you instruct them and are under regulation of the SRA who oversee all conveyancing solicitors in Arundel. In utilising search facility on this website, you can scrutinise fees for conveyancing solicitors in Arundel and beyond.
Can you provide any top tips for leasehold conveyancing in Arundel with the purpose of speeding up the sale process?
- A significant proportion of the frustration in leasehold conveyancing in Arundel can be bypassed if you instruct lawyers as soon as your agents start marketing the property and request that they start to collate the leasehold information needed by the buyers’ lawyers. If you have had conflict with your freeholder or managing agents it is very important that these are settled before the property is put on the market. The buyers and their solicitors will be reluctant to purchase a flat where there is an ongoing dispute. You may need to swallow your pride and discharge any arrears of service charge or settle the dispute prior to completion of the sale. It is therefore preferable to have any dispute settled prior to the contract papers being issued to the buyers’ solicitors. You are still duty bound to disclose details of the dispute to the buyers, but it is clearly preferable to present the dispute as historic rather than unsettled. You may think that you are aware of the number of years remaining on your lease but it would be advisable verify this via your solicitors. A purchaser's conveyancer will not be happy to advise their client to to exchange contracts if the lease term is less than 75 years. It is therefore important at an as soon as possible that you identify whether the lease requires a lease extension. If it does, contact your solicitors before you put your premises on the market for sale. If you hold a share in a the freehold, you should make sure that you are holding the original share certificate. Arranging a duplicate share certificate is often a time consuming process and slows down many a Arundel conveyancing transaction. Where a duplicate share certificate is required, do contact the company officers or managing agents (where applicable) for this sooner rather than later.
I acquired a 1 bedroom flat in Arundel, conveyancing formalities finalised December 2003. Can you please calculate a probable premium for a statutory lease extension? Similar properties in Arundel with over 90 years remaining are worth £201,000. The average or mid-range amount of ground rent is £45 charged once a year. The lease finishes on 21st October 2091
With just 65 years left to run we estimate the premium for your lease extension to be between £13,300 and £15,400 plus costs.
The figure above a general guide to costs for renewing a lease, but we cannot give you a more accurate figure without more comprehensive investigations. You should not use the figures in a Notice of Claim or as an informal offer. There are no doubt additional concerns that need to be taken into account and you obviously want to be as accurate as possible in your negotiations. Please do not take any other action based on this information before getting professional advice.
Should local authority permission be necessary to change a single dwelling into a couple of flats in Arundel? This has been carried out to a house next door to a relative in Arundel and was ignorant of it happening until it was done.
Planning Consent yes. Building Reg Approval yes.