Our Castleton and Blacktown lawyer has spotted an inconsistency between the information in the valuation report and what is in the title deeds. My solicitor informs me that he is duty bound to check that the lender is happy with this discrepancy and is content to go ahead. Is my solicitor’s stance appropriate?
Your solicitor must comply with the UK Finance Lenders’ Handbook conditions 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 you.
When scouring consumer advice sites for an affordable solicitor in Castleton and Blacktown, many advise that I should instruct a CQS kitemarked lawyer. Can you explain what CQS is?
The Law Society's Conveyancing Quality Scheme is the recognised kitemark for legal experts in home moving process, trusted by some of the UK's leading mortgage companies. Four years ago the Conveyancing Quality Scheme was officially recognised by the Association of British Insurers (ABI). The scheme does not cover licenced conveyancers. Castleton and Blacktown is one of the numerous areas in England and Wales where there are CQS lawyers.
I am purchasing a new build house in Castleton and Blacktown benefiting from help to buy. The builders refused to reduce the amount so I negotiated 6k of additionals instead. The house builders rep told me not to tell my solicitor about this side-deal as it could put at risk my mortgage with the bank. 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 guidance of my in-laws I had a survey completed on a property in Castleton and Blacktown prior to instructing solicitors. I have been informed that there is a flying freehold aspect to the house. My surveyor has said that some banks will refuse to issue a loan on this type of property.
It depends who your proposed lender is. Bank of Scotland has different requirements from Nationwide. If you e-mail us we can check with the appropriate mortgage company. If you lender is happy to lend one our lawyers can help as they are accustomed to dealing with flying freeholds in Castleton and Blacktown. Conveyancing can be more complicated and therefore you should check with your conveyancing solicitor in Castleton and Blacktown to see if the conveyancing will be more expensive.
We're novice buyers - agreed a price, yet the estate agent has warned us that the vendor will only issue a contract if we instruct their chosen lawyers as they want a ‘quick sale’. We would rather use a high street solicitor used to conveyancing in Castleton and Blacktown
We suspect that the seller is unaware of this request. If they desire ‘a quick sale', taking such a hostile approach to a genuine buyer is likely to cause more damage than good. Try to communicate with the sellers directly and explain that (a)you are serious buyers (b)you are ready to go, with mortgage lined up © you are unencumbered (d) you intend to proceed fast (e)but you will continue to appoint your preferred Castleton and Blacktown conveyancing lawyers - as opposed tothe ones that will earn their estate agent a commission or hit his conveyancing thresholds demanded by corporate headquarters.
Last May I purchased a leasehold property in Castleton and Blacktown. Do I have any liability for service charges relating to a period prior to my ownership?
In a situation where the service charge has already been demanded from the previous owner and they have not paid you would not usually be personally liable for the arrears. Strange as it may seem, your landlord may still be able to take action to forfeit the lease. A critical element of leasehold conveyancing for your conveyancer to be sure to have an up to date clear service charge receipt before completion of your purchase. If you have a mortgage this is likely to be a requirement of your lender.
If you purchase part way through an accounting year you may be liable for charges not yet demanded even if they relate to a period prior to your purchase. In such circumstances your conveyancer would normally arrange for the seller to set aside some money to cover their part of the period (usually called a service charge retention).
I acquired a leasehold flat in Castleton and Blacktown, conveyancing having been completed 3 years ago. Can you let me have an estimated range of the fair premium for a lease extension? Corresponding flats in Castleton and Blacktown with an extended lease are worth £191,000. The average or mid-range amount of ground rent is £55 invoiced annually. The lease comes to an end on 21st October 2078
You have 53 years unexpired the likely cost is going to span between £27,600 and £31,800 plus professional fees.
The figure above a general guide to costs for extending a lease, but we cannot give you the actual costs without more detailed investigations. You should not use the figures in tribunal or court proceedings. There may be additional issues that need to be considered 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.