Please help. My Bungay solicitor is advising me that he is legally obliged toorder Bungay conveyancing searches asthe firm are on the Lloydsconveyancing panel. Is my lawyer right?
Unfortunately both you and your lawyer have little choice here. Given that you are taking out a loan with a lender your conveyancing practitioner has to comply with their conditions as set out in their version of the CML Conveyancing Handbook. Your solicitor would have previously signed the Terms and Conditions of your bank’s conveyancing panel appointment which obliges them to follow the Council of Mortgage Lenders’ Handbook requirements . Even if you were a cash buyer you would be ill advised not to carry out Bungay conveyancing searches.
Forgive me if this question is silly but I am wet behind the ears as FTB of a ground floor flat in Bungay. Do I pick up the keys to the house on the completion date from my lawyer? If so, I will instruct a High Street conveyancing solicitor in Bungay?
On the day of completion you do not need to go to the conveyancers office in Bungay. Your solicitors will arrange to send the completion advance to the seller's conveyancers, and shortly after the monies have arrived, you should be called to pick up the keys from the property Agents and move into your new home. Usually this occurs early afternoon.
I am currently in the process of buying my council flat in Bungay. I have a mortgage agreed with Bank of Ireland. Conveyancing is new to me. Can I proceed without a solicitor easily? I think we can but we keep being told I should use one. Any advice?
It is not advisable to proceed with a house purchase without a solicitor. The council's solicitor are not acting for you. You need a solicitor for a number reasons. One of which is to verify what plans the Council have for repairs and refurbishment for the next five years. Many leaseholders have been stung for contributions of thousands of pounds. In any event, if you are getting a mortgage with Bank of Ireland, you will need to appoint a solicitor on the Bank of Ireland conveyancing panel.
Completion of my remortgage has taken place for my property in Bungay. Conveyancing was of an acceptable standard but I feel I should register my dissatisfaction about the lender. Who do I contact should I wish to lodge a complaint?
All lenders have complaints procedures. Your first port of call should be one of the lender’s branches or the Customer Services Team at head office. Ordinarily complaints to a lender are resolved very quickly. However if you are not satisfied that the matter is not resolved you can write to Financial Ombudsman Service who will take matters further.
My wife and I own a 4 bedroom Edwardian house in Bungay. Conveyancing solicitor acted for me and Virgin Money. I did a free Land Registry search last week and there are a couple of entries: one for freehold, another for leasehold under the matching property. I'd like to know for sure, how can I find out??
You need to review the Freehold register you have again and check the Charges Register for mention of a lease. The best way to be sure that you are also the registered proprietor of the leasehold and freehold title as well is to check (£3). It is not completely unheard of in Bungay and other locations in the country and poses no real issues for owners other than when they sell they have to account for both freehold and leasehold interests when dealing with purchasers. You can also check the position with your conveyancing solicitor who conducted the conveyancing.
I am purchasing my first flat in Bungay with the aid of help to buy. The sellers refused to budge the amount so I negotiated 6k of extras instead. The house builders rep advised me not reveal to my lawyer about this deal as it may adversely affect my loan with Barnsley Building Society. Do I keep my lawyer in the dark?.
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.
Due to the advice of my in-laws I had a survey completed on a house in Bungay before instructing lawyers. I have been advised that there is a flying freehold aspect to the property. Our surveyor advised that some banks may refuse to issue a loan on such a home.
It depends who your proposed lender is. Lloyds has different requirements for example to Birmingham Midshires. If you e-mail us we can investigate further with the appropriate bank. If you lender is happy to lend one our lawyers can help as they are accustomed to dealing with flying freeholds in Bungay. Conveyancing can be more complicated and therefore you should check with your conveyancing solicitor in Bungay to see if the conveyancing costs will increase in light of this.
I only have 72 years unexpired on my lease in Bungay. I now want to extend my lease but my landlord is can not be found. What options are available to me?
If you meet the appropriate requirements, under the Leasehold Reform, Housing and Urban Development Act 1993 you can submit an application to the County Court for an order to dispense with the service of the initial notice. This will mean that your lease can be extended by the magistrate. You will be obliged to demonstrate that you have used your best endeavours to locate the lessor. For most situations a specialist should be useful to conduct investigations and to produce an expert document to be accepted by the court as evidence that the freeholder can not be located. It is advisable to get professional help from a property lawyer in relation to investigating the landlord’s absence and the application to the County Court overseeing Bungay.
I purchased a 1 bedroom flat in Bungay, conveyancing having been completed 7 years ago. Can you please calculate a probable premium for a statutory lease extension? Similar flats in Bungay with a long lease are worth £191,000. The ground rent is £55 invoiced every year. The lease finishes on 21st October 2080
You have 54 years unexpired we estimate the price of your lease extension to span between £32,300 and £37,400 as well as costs.
The figure above a general guide to costs for extending a lease, but we cannot give you the actual costs without more detailed investigations. Do not use the figures in tribunal or court proceedings. There are no doubt other issues that need to be considered and clearly you want to be as accurate as possible in your negotiations. Please do not move forward based on this information without first getting professional advice.