I am nearing exchange of contracts for my home in Castelnau and the estate agent has just e-mailed to warn that the buyers are switching property lawyer. I am told that this is due to the fact that the bank will only deal with solicitors on their conveyancing panel. On what basis would a big named lender only deal with certain law firms rather the firm that they want to choose to handle their conveyancing in Castelnau ?
Banks have always had panels of law firms they are content to work with, but in the last few years big names such as Lloyds Banking Group, have reviewed and reduced their conveyancing panel– in some cases removing conveyancing firms who have worked with them for decades.
Lenders point to the increase in fraud by way of justification for the reduction – criteria have been stiffened as a smaller panel is easier to oversee. Banks tend not to reveal how many solicitors have been dropped, claiming the information is commercially sensitive, but the Law Society claims that it is hearing daily from firms that have been removed from panels. Some are unaware that they have been dropped until contacted by a borrower who has instructed them as might be the situation in your buyers' case. Your purchasers are not going to have any sway in the decision.
IfI was to purchase a straightforward propertyin Castelnau mortgage fee and dispense with a survey and no conveyancing searches how much should I expect to have to pay for conveyancing in Castelnau?
Any savings you would make will be isolated to the Castelnau conveyancing searches. The conveyancer still got to do everything else - money laundering, liaising with the sellers lawyer, stamp duty submission, register the ownership etc. A marginal saving might be made by not needing to register a charge however it won't be meaningful.
I'm purchasing my first flat in Castelnau with a loan from Coventry Building Society. The developers refused to budge the price so I negotiated £7000 of additionals instead. The house builders rep advised me not inform my lawyer about the deal as it would jeopardize my mortgage with Coventry Building Society. Should I keep quiet?.
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.
I was advised by numerous selling agents in Castelnau to find a property lawyer on your site. What’s the financial inducement for Estate Agents to offer your lawyers rather than a competitor’s?
We refuse to offer any referral fee for directing people in our direction. We thought it would be too underhand a fee because members of the public would think, ‘How come the agent getting a kickback? Why aren’t I receiving any benefit too?’ So we decided to step away from that.
I need to retain a conveyancing solicitor for purchase conveyancing in Castelnau. I've discover a site which seems to have the perfect answer If there is a chance to get all this stuff completed via email that would be preferable. Should I be concerned? 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?
I am hoping to put an offer on a small detached house that appears to meet my requirements, at a great price which is making it more attractive. I have subsequently found out that it's a leasehold as opposed to freehold. I would have thought that there are particular concerns purchasing a house with a leasehold title in Castelnau. Conveyancing lawyers have not yet been appointed. Will my lawyers set out the implications of buying a leasehold house in Castelnau ?
The majority of houses in Castelnau are freehold and not leasehold. This is one of the situations where having a local conveyancer used to dealing with such properties who can assist with the conveyancing process. it is apparent that you are purchasing in Castelnau in which case you should be shopping around for a Castelnau conveyancing solicitor and check that they have experience in dealing with leasehold houses. As a matter of priority you will need to check the unexpired lease term. Being a lessee you will not be entirely free to do whatever you want with the house. The lease will likely included provisions such as obtaining the landlord’spermission to conduct alterations. You may also be required to pay a maintenance charge towards the maintenance of the communal areas where the property is located on an estate. Your solicitor should appraise you on the various issues.
I have attempted and failed to negotiate with my landlord for a lease extension without success. Can I make an application to the Leasehold Valuation Tribunal? Can you recommend a Castelnau conveyancing firm to act on my behalf?
in cases where there is a absentee freeholder or if there is disagreement about the premium for a lease extension, under the relevant legislation it is possible to make an application to the LVT to calculate the amount due.
An example of a Freehold Enfranchisement matter before the tribunal for a Castelnau residence is 19 Crisp Road in June 2009. Following a vesting order (Under section 26 of the Leasehold Reform,Housing and Urban Development Act 1993) The tribunal determined that the premium payable for the acquisition of the freehold was £33,756,apportioned as to£12,285 for the lower at and £21,471for the upper fat. This case related to 2 flats. The unexpired residue of the current lease was 68.32 years.