I am nearing exchange of contracts for my house in Bestwood and the estate agent has just e-mailed to say that the buyers are appointing a new law firm. I am told that this is due to the fact that the bank will only engage with solicitors on their approved list. On what basis would a major mortgage company only engage with specific law firms rather the firm that they want to select for their conveyancing in Bestwood ?
Lenders have always had an approved set of law firms they are content to work with, but in the past few years big names such as HSBC, have reviewed and reduced their conveyancing panel– in some cases removing conveyancing firms who have acted for them for more than 25 years.
Mortgage companies point to the increase in fraud by way of justification for the cull – criteria have been stiffened as a smaller panel is easier to keep an eye on. Banks tend not to reveal how many solicitors have been dropped, claiming the information is commercially sensitive, but the Law Society says it is hearing daily from firms that have been removed from panels. Plenty of firms are unaware that they have been dropped until contacted by a borrower who has instructed them as might be the situation in your buyers' case. Your buyers are not going to have any impact on this.
Do the conveyancing practitioners indexed on your site perform right to buy conveyancing in Bestwood?
We work with plenty of conveyancing practitioners carrying out right to buy conveyancing matters You should get in touch with us to obtain a costs illustration.
I'm buying a new build house in Bestwood benefiting from help to buy. The developers refused to budge the amount so I negotiated 6k of extras instead. The estate agent suggested that I not reveal to my conveyancer about this extras as it may jeopardize my loan with the bank. Do I keep my lawyer in the dark?.
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 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.
Due to the input of my in-laws I had a survey completed on a property in Bestwood ahead of appointing solicitors. I have been told that there is a flying freehold overhang to the property. Our surveyor has said that some mortgage companies tend not grant a loan on this type of property.
It varies from the lender to lender. Bank of Scotland has different instructions from Halifax. Should you wish to call us we can check with the appropriate mortgage company. If you lender is happy to lend one our lawyers can help as they are used to dealing with flying freeholds in Bestwood. Conveyancing will be smoother if you use a solicitor in Bestwood especially if they regularly deal with such properties in Bestwood.
Is there anything unique about your site and alternative online quote calculators for conveyancing in Bestwood?
At this site receive an accurate quote via a Solicitor or Licensed Conveyancer that has a full understanding of the issues of your conveyancing in Bestwood. Unlike many estate agents and many comparison sites we are not in the business of charging firms a commission if you instruct them for your home move in Bestwood
There are only Seventy years left on my flat in Bestwood. I now wish to get lease extension but my landlord is missing. What should I do?
On the basis that you qualify, under the Leasehold Reform, Housing and Urban Development Act 1993 you can apply to the County Court for for permission to dispense with the service of the initial notice. This will enable the lease to be extended by the magistrate. You will be obliged to prove that you have used your best endeavours to track down the landlord. For most situations an enquiry agent should be useful to try and locate and prepare a report which can be accepted by the court as evidence that the freeholder is indeed missing. It is wise to seek advice from a solicitor in relation to investigating the landlord’s disappearance and the vesting order request to the County Court overseeing Bestwood.
I am the registered owner of a 2 bed flat in Bestwood, conveyancing formalities finalised half a dozen years ago. Can you please calculate a probable premium for a statutory lease extension? Corresponding properties in Bestwood with over 90 years remaining are worth £180,000. The average or mid-range amount of ground rent is £65 per annum. The lease finishes on 21st October 2084
You have 59 years left to run the likely cost is going to be between £20,900 and £24,200 plus plus your own and the landlord's "reasonable" professional fees.
The figure above a general guide to costs for renewing a lease, but we are not able to provide a more accurate figure without more detailed due diligence. You should not use the figures in a Notice of Claim or as an informal offer. There may be other concerns that need to be taken into account and clearly you want to be as accurate as possible in your negotiations. Neither should you move forward based on this information before getting professional advice.