I plan on buying a ground floor flat in Carmel. My Solicitor is not on the mortgage company solicitor panel. Am I still permitted to continue with my Carmel conveyancing solicitor even though they are excluded from the mortgage company approved list?
You have a couple of alternatives open to you here
- Carry on with your existing Carmel conveyancer but your mortgage company will no doubt retain a solicitor from their approved panel. The net result is additional fees and likely delay.
- Appoint a fresh conveyancer to act in the purchase, ensuring that they are on the mortgage company conveyancing panel.
- Convince your solicitor to pull out all the stops to get listed on the bank’s conveyancing panel
The Carmel conveyancing firm handling our Carmel conveyancing has uncovered an inconsistency when comparing the assumptions in the valuation survey and what is revealed within the title deeds. My lawyer informs me that he needs to check that the bank is OK with this discrepancy and is content to go ahead. Is my conveyancer’s approach right?
Your property lawyer must comply with the UK Finance Lenders’ Handbook requirements which do require that your lawyer disclose any incorrect assumptions in the lender’s valuation report and the legal papers. Should you refuse to allow your lawyer to make the appropriate notification then your lawyer will have no choice but to discontinue acting for both parties.
We're in Carmel, First time buyers buying with a mortgage (lender is Aldermore , and our solicitor is on the Aldermore conveyancing panel). How long should the conveyancing process take?
The fact that your lawyer is on the Aldermore conveyancing panel is a help. It would almost certainly delay matters if they were not. However, no solicitor should guarantee a timeframe for your conveyancing, due to third parties outside of your control such as delays caused by lenders,conveyancing search providers or by the other side’s solicitors. The time taken is often determined by the number of parties in a chain.
I have been told by my conveyancer that flying freehold insurance is necessary on my purchase. What is the level of cover for Carmel conveyancing?
The right level of flying freehold indemnity insurance depends on your lender. It would differ for example between Lloyds TSB Bank and The Mortgage Works. Conveyancing practitioners as opposed to members of the public take out such policies.
We had instructed conveyancing lawyers with offices in Carmel on the Clydesdale solicitor approved list. They are now charging me an additional fee for the legal aspects of the Clydesdale mortgage. Is this a supplemental conveyancing fee specified by Clydesdale?
Unfortunately, as long as it is in their Terms and Conditions or estimate then yes your solicitor is entitled to charge a fee for this. This fee is not dictated by Clydesdale but by your Carmel conveyancer. Numerous firms on the Clydesdale panel will levy an ‘acting for lender’ fee and others do not.
We expect to receive a OIP from UBS this week so we know how much we could potentially offer as otherwise we are dependent on web based calculators (which aren't taking into account credit checks etc). Do UBS recommend any Carmel solicitors on the UBS conveyancing panel, or is it better to find our own lawyer?
You will need to appoint Carmel solicitors independently although you'll need to choose one on the UBS conveyancing panel. The solicitor represents both you and UBS through the process.
I need to instruct a conveyancing solicitor for leasehold conveyancing in Carmel. I happened to stumble across a site which looks to be the perfect offering If it is possible to get all formalities done via web that would be ideal. Do I need to be wary? What are the potential pitfalls?
As usual with these online conveyancers you need to read ALL the small print - did you notice the extra charge for dealing with the mortgage?
We expect to complete the sale of our £375,000 maisonette in Carmel next week. The managing agents has quoted £396 for Landlord’s certificate, building insurance schedule and previous years statements of service charge. Is the landlord entitled to charge exorbitant fees for a flat conveyance in Carmel?
Carmel conveyancing on leasehold maisonettes usually involves the buyer’s conveyancer submitting questions for the landlord to address. Although the landlord is under no legal obligation to respond to such questions the majority will be content to assist. They are at liberty to levy a reasonable administration fee for responding to enquiries or supplying documentation. There is no upper cap for such fees. The average fee for the paperwork that you are referring to is £350, in some cases it is above £800. The administration charge demanded by the landlord must be sent together with a synopsis of entitlements and obligations in respect of administration charges, without which the invoice is technically not due. Reality however dictates that you have little option but to pay whatever is demanded if you want to sell the property.
I inherited a garden flat in Carmel, conveyancing formalities finalised in 2000. Can you let me have an estimate of the premium that my landlord can legally expect in return for granting a renewal of my lease? Equivalent flats in Carmel with an extended lease are worth £255,000. The ground rent is £45 yearly. The lease comes to an end on 21st October 2098
You have 73 years left to run we estimate the premium for your lease extension to span between £8,600 and £9,800 plus costs.
The suggested premium range above a general guide to costs for renewing a lease, but we are not able to supply the actual costs in the absence of comprehensive due diligence. Do not use the figures in a Notice of Claim or as an informal offer. There are no doubt additional concerns that need to be taken into account and clearly you want to be as accurate as possible in your negotiations. Please do not move forward placing reliance on this information before getting professional advice.