Me and my partner are hoping to acquire a 2 bedroom apartment in Castle Donington with a mortgage. We would like to retain our Castle Donington solicitor, but the lender advise he's not on their "panel". It seems we have little option but to appoint one of the bank panel firms or keep our Castle Donington conveyancing practitioner as well as pay for one of their panel firms to act for them. We consider that this is inequitable; are we not able to demand that the bank use our Castle Donington solicitor ?
Unfortunately,no. Your mortgage offer is subject to its terms and conditions, one of which will be that lawyers will on the lender’s conveyancing panel. Until recently, most lenders had large numbers of law firms on their panels: a borrower could choose one for themselves, as long as it was on the lender's panel. The lender would then simply instruct the borrower's lawyers to act for the lender, too. You can use your lender's panel lawyers or you could borrow from another lender which does not restrict your choice. A further alternative is for your Castle Donington conveyancing solicitor to apply to be on the conveyancing panel.
3 months have gone by since my purchase conveyancing in Castle Donington completed. I have checked the Land Registry site which shows that I paid £175,000 when infact I paid £160,000. Why the discrepancy?
The price paid figure is taken from the application to register the purchase. It is the figure included in the Transfer (the legal deed which transfers the residence from one person to the other) and referred to as the 'consideration' or purchase price. You can report an error in the price paid figure using the LR online form. In most cases errors result from typos so at first glance the figure. Do report it so they can double check and advise.
I'm buying a new build house in Castle Donington with a loan from Chelsea Building Society. The developers refused to budge the amount so I negotiated £7000 of fixtures and fittings instead. The sale representative suggested that I not disclose to my solicitor about the side-deal as it could jeopardize my loan with Chelsea 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 decided to have a survey done on a house in Castle Donington prior to appointing solicitors. I have been told that there is a flying freehold overhang to the house. My surveyor has said that some mortgage companies may not give a mortgage on a flying freehold property.
It varies from the lender to lender. HSBC has different requirements from Birmingham Midshires. If you e-mail us we can investigate further with the relevant mortgage company. If you lender is happy to lend one our lawyers can assist as they are used to dealing with flying freeholds in Castle Donington. Conveyancing may be slightly more expensive based on your lender's requirements.
My husband and I are 3 weeks into a leasehold purchase having been referred to a firm by the high street agent to execute conveyancing in Castle Donington. We are not happy. Could you help me find new conveyancers?
They would need to be very poor in order to consider changing them. Has the mortgage offer been generated? If so you must make them aware of the replacement conveyancer and have the mortgage documents are issued to the new lawyers. Your conveyancer needs to be on the lenders panel to avoid added fees and delays. So that should be your first question of the new conveyancers. The search tool should assist you in finding a bank approved solicitor for your home move in Castle Donington
Frank (my husband) and I may need to let out our Castle Donington basement flat for a while due to taking a sabbatical. We used a Castle Donington conveyancing firm in 2003 but they have closed and we did not have the foresight to get any guidance as to whether the lease allows us to sublet. How do we find out?
Even though your last Castle Donington conveyancing lawyer is not around you can review your lease to check if you are permitted to let out the property. The accepted inference is that if the deeds are silent, subletting is allowed. Quite often there is a prerequisite that you need to seek consent via your landlord or some other party in advance of subletting. This means that you cannot sublet without first obtaining permission. The consent is not allowed to be unreasonably turned down. If the lease does not allow you to sublet you will need to ask your landlord for their consent.
Castle Donington Conveyancing for Leasehold Flats - A selection of Questions you should ask before buying
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Are any of leasehold owners in dispute over their service charge liability? Who takes charge for maintaining and repairing the block? Does the lease include onerous restrictions?