My wife and I are due to exchange buying a house in Ashbourne but as a result of damage from the recent storms I have was able negotiate recompense from the vendor of £2k in the form of a adjustment in the price. I had intended this to be addressed as part of a side agreement however Santander are not allowing this. Why were they approached?
Your solicitor that is on the Santander conveyancing panel is duty bound to disclose to Santander of any variations to the purchase price. If you prohibit your conveyancing practitioner to disclose the reduction to Santander then they would have to discontinue acting for you. In addition, Santander and you would have to appoint a new solicitor for your conveyancing in Ashbourne.
Do all mortgage companies provide you with an approved list of Ashbourne conveyancing solicitors? How do you know who is on the Nationwide conveyancing panel?
Ashbourne conveyancing firms themselves provide us confirmation that they are on the Nationwide conveyancing panel as opposed to being supplied with a list from Nationwide directly.
I am considering applying for a Nottingham mortgage for purchase of a newly converted (under development) in Ashbourne with 60% loan to value. Is it compulsory to choose a solicitor on the conveyancing panel for Nottingham ?
In theory, you could use a solicitor that is not on the Nottingham conveyancing panel, but Nottingham would require one of their panel solicitors to be instructed to act in their interests, and you'd have to pay for this - so most people instruct a panel solicitor. It's also easier, as otherwise you'd have to deal with two solicitors for the same transaction.
I am buying my first flat in Ashbourne with a loan from Santander. The developers refused to reduce the amount so I negotiated £7000 of fixtures and fittings instead. The sale representative told me not to tell my lawyer about the side-deal as it would adversely affect my mortgage with the bank. Is this normal?.
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.
I am intending to sublet my leasehold apartment in Ashbourne. Conveyancing solicitor who did the purchase is retired - so can't ask her. Do I need to ask my freeholder for permission?
Even though your previous Ashbourne conveyancing solicitor is not available you can review your lease to check if it allows you to sublet the apartment. The rule is that if the lease is silent, subletting is allowed. Quite often there is a prerequisite that you need to obtain permission via your landlord or other appropriate person in advance of subletting. This means that you cannot sublet without prior consent. Such consent must not not be unreasonably turned down. If your lease prohibits you from letting out the property you should ask your landlord for their consent.
I bought a leasehold flat in Ashbourne, conveyancing having been completed in 1995. Can you give me give me an indication of the likely cost of a lease extension? Similar properties in Ashbourne with a long lease are worth £260,000. The average or mid-range amount of ground rent is £45 charged once a year. The lease finishes on 21st October 2100
You have 74 years unexpired we estimate the price of your lease extension to span between £8,600 and £9,800 plus plus your own and the landlord's "reasonable" professional fees.
The figure that we have given is a general guide to costs for renewing a lease, but we are not able to supply a more accurate figure without more comprehensive investigations. Do not use this information in tribunal or court proceedings. There may be additional issues that need to be considered and you obviously 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.
I note that you have a post code search directory listing solicitors on the bank conveyancing panel. Do Ashbourne conveyancing companies pay you a referral fee if I retain them for my own conveyancing?
We are a listing service only for law firms wishing to communicate if they are on the lender conveyancing panel or other lender panels. We do not charge referral fees to the any conveyancer that you subsequently appoint for your conveyancing in Ashbourne.