Is it correct that all Basingstoke CQS (Conveyancing Quality Scheme) solicitors are on the Leeds Building Society conveyancing panel?
Some major banks and building societies now make use of the accreditation scheme as the kick off point for Panel membership such as HSBC and Santander. The Law Society’s CQS accreditation however is no guarantee to lender panel acceptance. That being said,the Council of Mortgage Lenders have indicated that it is likely to become a pre-requisite for solicitor practices wishing to remain on their approved list of firms.
We were going to get a DIP from Skipton 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 Skipton recommend any Basingstoke solicitors on the Skipton conveyancing panel, or is it better to find our own lawyer?
You will need to appoint Basingstoke solicitors independently although you'll need to choose one on the Skipton conveyancing panel. The solicitor represents both you and Skipton through the process.
I was told three weeks ago that my mortgage has been agreed to by Santander. Is it usual for Santander to only issue the offer once my solicitor in Basingstoke is approved on their conveyancing panel? Santander have asked my solicitor to see a copy of their PI Insurance.
Mortgage companies tend not to not issue a mortgage until they have details of a lawyer on their panel. It can take a few weeks for Santander to deal with your lawyer's application to be on the Santander conveyancing panel. There's no guarantee that your solicitor will be accepted.
I'm buying a new build house in Basingstoke with the aid of help to buy. The sellers would not move on the amount so I negotiated £7000 of extras instead. The house builders rep suggested that I not to tell my solicitor about the extras as it would impact my loan with Bank of Ireland. 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.
I've recently found out that there is a flying freehold element on a property I have offered on a fortnight ago in what was supposed to be a straight forward, chain free conveyancing. Basingstoke is the location of the property. Is there any advice you can impart?
Flying freeholds in Basingstoke are not the norm but are more likely to exist in relation to terraced houses. Even though you don't necessarily need a conveyancing solicitor in Basingstoke you must be sure that your lawyer goes through the deeds very carefully. Your bank may require your conveyancing solicitor to take out an indemnity policy. Some of the more diligent conveyancing solicitors in Basingstoke may decide that this is not enough and that the deeds be re-written to give you the most up to date legal protection. If so, the next door neighbour also had to sign up to the revised deeds.It is possible that your lender will not accept the situation so the sooner you find out the better. You should also check with your insurance broker as to whether they will insure a flying freehold premises.
Should I be concerned that estate agents that I am dealing with are recommending an online conveyancing firm rather than a High Street Basingstoke conveyancing practice?
As with lots of professional services, often input from relatives can be worth their weight in gold. Yet there are many parties with a vested interest in a conveyancing transaction; estate agents, financial adviser and banks might all suggest lawyers to instruct. Sometimes the lawyers might be known to one of the organisations as being good in their field, but sometimes there might be a financial incentive behind the endorsement. You have the right to choose your own conveyancer. Don't forget that many banks specify a panel list of conveyancers you must use for the lender related work in your house move.
My uncle has suggested that I instruct his conveyancing solicitors in Basingstoke. Do I follow his advice?
There are no two ways about it it’s preferable to select a conveyancing solicitor is to have recommendations from friends or relatives who have previously instructed the firm you're contemplating using.
What are your top tips when it comes to choosing a Basingstoke conveyancing practice to deal with our lease extension?
When appointing a conveyancer for your lease extension (regardless if they are a Basingstoke conveyancing firm) it is most important that they be familiar with the legislation and specialises in this area of conveyancing. We advise that you speak with several firms including non Basingstoke conveyancing practices prior to instructing a firm. Where the conveyancing practice is ALEP accredited then that’s a bonus. The following questions might be useful:
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How familiar is the practice with lease extension legislation?
I am the registered owner of a garden flat in Basingstoke, conveyancing formalities finalised 8 years ago. How much will my lease extension cost? Corresponding properties in Basingstoke with over 90 years remaining are worth £197,000. The ground rent is £55 yearly. The lease runs out on 21st October 2080
With 55 years remaining on your lease the likely cost is going to span between £31,400 and £36,200 as well as legals.
The suggested premium range above a general guide to costs for extending a lease, but we are not able to supply the actual costs without more comprehensive due diligence. You should not use this information in tribunal or court proceedings. There are no doubt additional concerns that need to be taken into account and you obviously should be as accurate as possible in your negotiations. You should not take any other action based on this information without first seeking the advice of a professional.