I am hoping to receive a mortgage with Santander. I intend to enlist the help of a Licensed Conveyancer in Blakeney. Does the Santander Solicitor panel exclude Licensed Conveyancers?
The Santander conveyancing panel is, like many other lenders, represented by the Council or Mortgage Lenders or BSA, open to Licensed Conveyancers regulated by the CLC.
I had intended to instruct a conveyancing solicitor in Blakeney for our house purchase. Our broker informed us that our bank Norwich and Peterborough Building Society won't deal with them. Surely this is unduly restrictive?
Before the recession most lenders had a different appetite for risk. Almost all Blakeney conveyancing firms would have been on most mortgage company panels. The Financial Services Authority in 2010 conducted a thematic investigation into mortgage fraud which come to the conclusion: know the conveyancing solicitors dealt with. Consequently, mortgage companies are increasingly seeing more data from law firms regarding their operations and the individuals who work for them and set certain criteria such a completing on a minimum number of transactions. Many Blakeney conveyancing firms that have been excluded from lender panels have Unblemished track record, no complaints and no claims and didn't just 'dabble' in conveyancing. Blakeney is one of the hundreds of locations where the solicitors we recommend are are approved Norwich and Peterborough Building Society.
I need some expedited conveyancing in Blakeney as I have pressure to complete within one month. A home loan is not required. Is it possible to decline from having conveyancing searches to save fees and time?
If.Given you are are a cash purchaser you are at free not to do searches although no conveyancer would suggest that you don't. With plenty of history conveyancing in Blakeney the following are examples of what can be revealed and therefore impact market value: Refused Planning Applications, Overdue Fees, Overdue Grants, Road Schemes,...
Me and my brother purchased a semi-detached Victorian property in Blakeney. Conveyancing lawyer represented me and Lloyds TSB Bank. I happened to do a free search for it on the Land Registry database and I saw two entries: one for freehold, the second leasehold under the exact same address. Is it worth asking Lloyds TSB Bank to clarify?
You should assess the Freehold register you have again and check the Charges Register as there may be mention of a lease. The best way to be sure that you are also the registered owner of the leasehold and freehold title as well is to check (£3). It is not completely unheard of in Blakeney and other locations in the country and poses no real issues for owners other than when they mortgage they have to account for both freehold and leasehold interests when dealing with lenders. You can also check the situation with the conveyancing lawyer who conducted the purchase.
Yesterday I discovered that there is a flying freehold issue on a property I put an offer in last month in what should have been a simple, chain free conveyancing. Blakeney is where the house is located. Can you shed any light on this issue?
Flying freeholds in Blakeney are unusual but are more likely to exist in relation to terraced houses. Even where you use a solicitor outside Blakeney 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 Blakeney 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 residence.
I today plan to offer on a house that seems to be perfect, at a great price which is making it all the more appealing. I have just been informed that it's a leasehold as opposed to freehold. I would have thought that there are particular concerns buying a leasehold house in Blakeney. Conveyancing lawyers have are soon to be instructed. Will they explain the issues?
Most houses in Blakeney are freehold rather than leasehold. This is one of the situations where having a local solicitor who is familiar with the area who can help the conveyancing process. it is apparent that you are buying in Blakeney in which case you should be looking for a Blakeney conveyancing practitioner and check that they have experience in advising on leasehold houses. First you will need to check the number of years remaining. As a leaseholder you will not be entirely free to do whatever you want with the house. The lease will likely included provisions such as requiring the freeholder’sconsent to conduct alterations. It may be necessary to pay a contribution towards the upkeep of the communal areas where the property is located on an estate. Your lawyer will report to you on the legal implications.
I invested in buying a 1st floor flat in Blakeney, conveyancing having been completed 7 years ago. Can you please calculate a probable premium for a statutory lease extension? Corresponding flats in Blakeney with a long lease are worth £216,000. The ground rent is £50 invoiced every year. The lease comes to an end on 21st October 2095
With just 69 years left to run we estimate the premium for your lease extension to range between £9,500 and £11,000 plus 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 the actual costs 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 take any other action based on this information before getting professional advice.