I am not in a position to travel far from Bognor Regis. Can you please clarify why all Bognor Regis solicitors aren't automatically on all mortgage company panels?
Lenders point to the fact that solicitor-led fraud is considered to be responsible for millions of pounds of fraud every year.The elimination of law firms off of lender panels started with the rise in mortgage fraud, which prompted a thematic review by the FSA in 2011. Its outcome included recommendations for mortgage companies to review their conveyancing panels, which kicked off a major policy change in the sector. This resulted in banks and building societies purging less reputable firms off their panel of approved conveyancers .
We are about to exchange contracts for a ground floor flat in Bognor Regis. We have hit a stumbling block. The mortgage offer with Skipton Building Society expires on 4/8/2025 but the owners are insisting on a completion date of 6/8/2025. Is it possible to extend the mortgage expiry date?
The best person to address this question is your conveyancer who is in a position to assess if he or she is should be discussing with the mortgage company, vendor’s solicitors, selling agents or possibly all three based on the history of your house move to date.
What is the difference between a licensed conveyancer and conveyancing solicitor in Bognor Regis
Two types of professional can conduct conveyancing in Bognor Regis namely CLC regulated conveyancers or solicitors. Both professionals provide conveyancing services that required to complete the disposal or acquisition of property. Both are required to carry out Bognor Regis conveyancing to the same quality and guidelines so you may be sure that your conveyancing will be properly carried out and that the necessary procedures will be accurately attended to.
When it comes to lenders such as Aldermore, do Bognor Regis lawyers incur an annual charge to be on the list of approved solicitors?
We are not aware of any mortgage company fees to register on their list of approved firms, although some do charge an administration fee to deal with the processing of the conveyancing panel submission.
Can I be sure that the Bognor Regis conveyancing solicitor on the Kent Reliance panel is any good?
When it comes to conveyancing in Bognor Regis obtaining recommendations is a sensible start. Before you go ahead, check if they offer a no sale no fee offer. Also, you often get what you pay for - a firm which quotes more, will often provide a better service than one advertising the lowest fees. We would always advocate that you speak with the lawyer handling your conveyancing.
Will my conveyancer be raising enquiries concerning flooding as part of the conveyancing in Bognor Regis.
Flooding is a growing risk for conveyancers conducting conveyancing in Bognor Regis. There are those who acquire a property in Bognor Regis, completely aware that at some time, it may suffer from flooding. However, aside from the physical damage, if a property is at risk of flooding, it may be difficult to obtain a mortgage, suitable building insurance, or dispose of the property. There are steps that can be taken during the course of a house purchase to forewarn the purchaser.
Conveyancers are not best placed to offer advice on flood risk, however there are a numerous checks that can be undertaken by the purchaser or on a buyer’s behalf which will give them a better understanding of the risks in Bognor Regis. The standard property information forms given to a purchaser’s conveyancer (where the solicitors are adopting what is known as the Conveyancing Protocol) contains a standard question of the owner to determine whether the premises has historically flooded. If the premises has been flooded in past which is not revealed by the vendor, then a purchaser could issue a compensation claim as a result of such an inaccurate response. The buyer’s solicitors should also carry out an environmental search. This should disclose whether there is a recorded flood risk. If so, more detailed inquiries will need to be conducted.
I am buying my first flat in Bognor Regis benefiting from help to buy. The developers refused to reduce the amount so I negotiated 6k of additionals instead. The sale representative suggested that I not to tell my solicitor about this extras as it will impact my mortgage with Coventry Building Society. 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.
Do you have any advice for leasehold conveyancing in Bognor Regis with the purpose of saving time on the sale process?
- A significant proportion of the frustration in leasehold conveyancing in Bognor Regis can be reduced where you get in touch lawyers as soon as your agents start advertising the property and ask them to collate the leasehold information which will be required by the purchasers’ representatives. If you have carried out any alterations to the premises would they have required Landlord’s approval? Have you, for example laid down wooden flooring? Most leases in Bognor Regis state that internal structural alterations or installing wooden flooring necessitate a licence from the Landlord acquiescing to such alterations. Where you fail to have the paperwork in place do not communicate with the landlord without contacting your lawyer first. A minority of Bognor Regis leases require Landlord’s consent to the sale and approval of the buyers. If this is the case, it would be prudent to place the estate agents on notice to make sure that the purchasers put in hand bank and professional references. Any bank reference will need to confirm that the buyers are financially capable of paying the annual service charge and the actual amount of the service charge should be quoted in the bank’s letter. You will therefore need to provide your estate agents with the actual amount of the service charge so that they can pass this information on to the buyers or their solicitors. If you have the benefit of shareholding in the freehold, you should make sure that you are holding the original share document. Arranging a new share certificate can be a time consuming process and delays many a Bognor Regis conveyancing transaction. If a reissued share is needed, do contact the company officers or managing agents (if applicable) for this at the earliest opportunity. If there is a history of conflict with your landlord or managing agents it is essential that these are settled prior to the flat being put on the market. The buyers and their solicitors will be nervous about purchasing a property where there is an ongoing dispute. You may have to bite the bullet and discharge any arrears of service charge or settle the dispute prior to completion of the sale. It is therefore preferable to have any dispute settled prior to the contract papers being issued to the buyers’ solicitors. You are still duty bound to disclose particulars of the dispute to the buyers, but it is clearly preferable to present the dispute as over as opposed to ongoing.
I acquired a basement flat in Bognor Regis, conveyancing was carried out in 1995. Can you let me have an estimated range of the fair premium for a lease extension? Equivalent properties in Bognor Regis with over 90 years remaining are worth £176,000. The ground rent is £50 charged once a year. The lease ceases on 21st October 2105
With 80 years remaining on your lease the likely cost is going to be between £8,600 and £9,800 as well as plus your own and the landlord's "reasonable" professional fees.
The suggested premium range that we have given is a general guide to costs for renewing a lease, but we are not able to provide a more accurate figure in the absence of comprehensive due diligence. You should not use the figures in a Notice of Claim or as an informal offer. There are no doubt other concerns that need to be taken into account and you obviously should be as accurate as possible in your negotiations. Please do not move forward placing reliance on this information before getting professional advice.