I'm in the process of changing my current homeowner loan to a BTL Aldermore mortgage. The bank has said that I must appoint a solicitor as part of the process. I had a chat my previous Ashington conveyancing firm who dealt with the legals when I first acquired the premises. The pricing estimate e-mailed to me of just over five hundred pounds has surprised me as its a remortgage than a sale or purchase.
The estimate does seem a tad on the high side. Where you are content to invest time scrutinising charges you may be able to decrease the fees slightly by as much as £100 plus VAT. On the other hand, if you were pleased with the service the firm offered you mightlive to rue opting for an a cheaper conveyancer. If is important to enquire the firm can represent Aldermore. Do employ our search tool to select a Ashington conveyancing firm on the Aldermore conveyancing panel, which can often include conveyancing solicitors in Ashington.
We see that you have a post code search directory identifying solicitors on the Kent Reliance conveyancing panel. Do firms pay you a referral fee if I retain them for our conveyancing in Ashington?
We are a listing service only for law firms wishing to communicate if they are on the Kent Reliance conveyancing panel or other lender panels. We do not charge referral fees to any conveyancer that you subsequently appoint for your conveyancing in Ashington.
My husband and I are buying a newly converted flat in Ashington with a residential mortgage from Accord Mortgages Ltd.We like our Ashington conveyancing practitioner but Accord Mortgages Ltd says he's not listed on their "panel". It seems we are left with no choice but to instruct a Accord Mortgages Ltd panel firm or keep our preferred solicitor and pay for one of their panel ones to act for them. We feel as though this is unjust; Can we not simply insist that Accord Mortgages Ltd use our lawyer?
No, not really. The loan issued to you is subject to its various provisions, one of which will be that solicitors needs to be on the Accord Mortgages Ltd approved list. in the past, most mortgage companies had large numbers of solicitors 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 Accord Mortgages Ltd
We are getting the release of further funds on our home loan from UBS as we wish to conduct renovations to our property in Ashington. Are we obliged to appoint a local Ashington solicitor on the UBS conveyancing panel to deal with the legals?
UBS don't usually require a member of their approved list of lawyers to deal with such a matter. If they do require any legal work then you would need to ensure that such a lawyer was on the UBS panel.
I am purchasing a property in Ashington. One unusual aspect is that the roof has a solar panel. Nationwide have issued a mortgage offer so presumably this is not a concern to them. Why is my solicitor raising questions about the panel?
As your lender is Nationwide your lawyer must follow the formal instructions contained in Part 2 of UK Finance Lenders’ Handbook for Nationwide. The Council of Mortgage Lenders’ Handbook includes minimum requirements for solar panel roof-space leases, and solicitors are required to report to Nationwide where a lease does not comply with these specifications. The conditions relate to the installation of panels on properties in England and Wales and is not isolated to Ashington.
I am expecting a DIP from HSBC this week so we know how much we could potentially offer as otherwise we only have online calculators to go by (which aren't taking into account credit checks etc). Do HSBC recommend any Ashington solicitors on the HSBC conveyancing panel, or is it better to find our own lawyer?
You will need to appoint Ashington solicitors independently although you'll need to choose one on the HSBC conveyancing panel. The solicitor represents both you and HSBC through the process.
My partner and I are close to exchanging contracts on the sale of our house in Ashington and the buyers lawyers are claiming that there is a risk of it being built on contaminated land. A high street Ashington lawyer would know this is not the case. For the life of me I don't know why the buyers used a nationwide conveyancing firm rather than a conveyancing solicitor in Ashington. We have lived in Ashington for three years we know of no issue. Is it a good idea to get in touch with our local Authority to seek clarification that there is no issue.
It sounds as though you may have a conveyancing lawyer already. What do they say? You should 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)
Looking forward to exchange soon on a garden flat in Ashington. Conveyancing lawyers inform me that they will have a report out to me within the next couple of days. Are there areas in the report that I should be focusing on?
The report on title for your leasehold conveyancing in Ashington should include some of the following:
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What options are open to you if an adjoining owner is in violation of a provision in their lease? Does the lease require carpeting throughout thus preventing wood flooring? Responsibility to repair and maintain the building. It is important for you to know who is duty bound to repair and maintenance of every part of the building Rent payments - what is payable and what the invoice dates are, and be on notice if this will change in the future
I purchased a 1st floor flat in Ashington, conveyancing having been completed 5 years ago. Can you let me have an estimate of the premium that my landlord can legally expect in return for granting a renewal of my lease? Comparable properties in Ashington with over 90 years remaining are worth £191,000. The ground rent is £55 levied per year. The lease ceases on 21st October 2078
With 53 years unexpired the likely cost is going to span between £27,600 and £31,800 as well as professional fees.
The figure that we have given is a general guide to costs for extending a lease, but we are not able to provide the actual costs without more detailed due diligence. Do not use the figures in tribunal or court proceedings. There are no doubt other issues that need to be considered and clearly you should be as accurate as possible in your negotiations. You should not take any other action placing reliance on this information without first seeking the advice of a professional.