I plan on buying property in Blythe Bridge. My Conveyancer has never been on on the lender approved panel. Am I still permitted to continue with my Blythe Bridge conveyancing solicitor even though they are not on the mortgage company approved list?
Various options include
- Carry on with your existing Blythe Bridge solicitor but your lender will no doubt instruct a lawyer on their approved list. This will result in additional charges together with probable frustration.
- Get a fresh solicitor to act in the purchase, ensuring that they are on the lender conveyancing panel.
- Appeal to your solicitor to apply to join the mortgage company panel
Can you help? My Blythe Bridge lawyer is assuring me that she is duty bound toconduct Blythe Bridge conveyancing searches stemming from the fact thatthe firm are on the Lloydsapproved lawyer panel. Is this really necessary?
You have limited options available to you. As you are obtaining a home loan with a bank your conveyancing practitioner has to comply with their conditions as set out in their version of the CML Conveyancing Handbook. Your property lawyer would have previously signed the Terms and Conditions of your bank’s conveyancing panel appointment which obliges them to comply with the Council of Mortgage Lenders’ Handbook requirements . Even if you were a cash buyer you would be ill advised not to carry out Blythe Bridge conveyancing searches.
The Blythe Bridge conveyancing firm that just started acting on my purchase in Blythe Bridge have without warning closed. I only went with them because I needed a firm on the Barclays conveyancing panel and my family Blythe Bridge lawyer was not. I gave my credit card details for them to take one hundred and fifty pounds for searches. What should be my next steps?
If you have an estate agent involved then let them know straight away so that they can let the sellers know that there may be a slight delay due to the problems encountered. Hopefully they will be sympathetic and urge their lawyer to send a new set of papers to your new solicitors. You should appoint new lawyers that are on the Barclays conveyancing panel and notify the lender. If you have paid over any money, it will hopefully be held by the SRA as money in an intervened firm's bank accounts is transferred to the SRA. Then, the SRA or the intervention agent looks at the intervened firm's accounts to work out who the money belongs to. To claim your money you will need to contact the SRA. If the SRA cannot return money you are owed from the firm's bank accounts, or if they can only return part of the money, you can apply to the Compensation Fund for a grant. Your new lawyers may be able to assist.
Various online forums that I have visited warn that are the number one reason for obstruction in Blythe Bridge conveyancing transactions. Is there any truth in this?
The Council of Property Search Organisations (CoPSO) published conclusions of a review by MoveWithUs that conveyancing searches do not figure within the top 10 causes of delays during the legal transfer of property. Searches are unlikely to be the root cause of delay in conveyancing in Blythe Bridge.
I'm buying a new build house in Blythe Bridge with a loan from Clydesdale. The builders would not reduce the price so I negotiated £7000 of extras instead. The property agent suggested that I not disclose to my lawyer about this extras as it may adversely affect my mortgage with the bank. Is this normal?.
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.
There are only Seventy years remaining on my flat in Blythe Bridge. I am keen to get lease extension but my freeholder is missing. What are my options?
If you meet the appropriate requirements, under the Leasehold Reform, Housing and Urban Development Act 1993 you can apply to the County Court for an order to dispense with the service of the initial notice. This will mean that your lease can be lengthened by the magistrate. However, you will be required to demonstrate that you have done all that could be expected to locate the lessor. For most situations a specialist may be useful to conduct investigations and to produce an expert document to be used as proof that the freeholder is indeed missing. It is wise to seek advice from a property lawyer in relation to investigating the landlord’s disappearance and the application to the County Court covering Blythe Bridge.
I am the registered owner of a 1 bedroom flat in Blythe Bridge, conveyancing formalities finalised half a dozen years ago. Can you let me have an estimated range of the fair premium for a lease extension? Comparable flats in Blythe Bridge with over 90 years remaining are worth £211,000. The ground rent is £45 charged once a year. The lease ceases on 21st October 2093
With 68 years unexpired we estimate the price of your lease extension to range between £9,500 and £11,000 plus professional fees.
The figure above a general guide to costs for renewing a lease, but we cannot give you the actual costs without more detailed due diligence. You should not use this information in a Notice of Claim or as an informal offer. There may be additional concerns that need to be taken into account and you obviously want to be as accurate as possible in your negotiations. Neither should you move forward based on this information without first seeking the advice of a professional.