We are getting the release of further funds on our mortgage from Clydesdale as we wish to carry out improvements to our home in Collier Row. Are we obliged to choose a high street Collier Row solicitor on the Clydesdale conveyancing panel to handle the paperwork?
Clydesdale don't usually require a member of their approved list of lawyers to handle the formalities. If they do require any legal work then you would need to ensure that such a lawyer was on the Clydesdale panel.
I had a mortgage agreed in principle with Clydesdale. Collier Row conveyancing solicitors have been selected. What is the average time that one could expect to receive a mortgage offer from Clydesdale?
There is no definitive answer here. Have Clydesdale done the valuation? Have you informed Clydesdale as to your lawyers' details and checked that your lawyers are on the Clydesdale conveyancing panel? Sometimes it can take as long as six weeks for a mortgage offer to be issued.
I am expecting a AIP from Co-operative this week so we can work out what to offer on a property we like as otherwise we only have online calculators to go by (which aren't taking into account credit checks etc). Do Co-operative recommend any Collier Row solicitors on the Co-operative conveyancing panel, or is it better to go independently?
You will need to appoint Collier Row solicitors independently although you'll need to choose one on the Co-operative conveyancing panel. The solicitor represents both you and Co-operative through the process.
Should our conveyancer be raising questions concerning flooding as part of the conveyancing in Collier Row.
The risk of flooding is if increasing concern for lawyers dealing with homes in Collier Row. Some people will buy a property in Collier Row, fully expectant that at some time, it may suffer from flooding. However, leaving to one side the physical destruction, if a property is at risk of flooding, it may be difficult to get a mortgage, adequate insurance cover, or dispose of the property. There are steps that can be taken as part of the conveyancing process to forewarn the purchaser.
Conveyancers are not qualified to offer advice on flood risk, however there are a number of searches that may be carried out by the buyer or on a buyer’s behalf which can give them a better understanding of the risks in Collier Row. The conventional set of information sent to a buyer’s solicitor (where the Conveyancing Protocol is adopted) incorporates a usual inquiry of the owner to determine whether the premises has suffered from flooding. If the residence has been flooded in past and is not disclosed by the vendor, then a purchaser may issue a compensation claim stemming from an inaccurate response. The purchaser’s lawyers will also conduct an environmental report. This will higlight if there is any known flood risk. If so, more detailed inquiries will need to be carried out.
I'm buying my first flat in Collier Row with the aid of help to buy. The builders would not budge the price so I negotiated 6k of extras instead. The property agent suggested that I not inform my lawyer about this extras as it will jeopardize my mortgage with Nottingham Building Society. Is this normal?.
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 house in Collier Row before appointing conveyancers. I have been told that there is a flying freehold overhang to the property. My surveyor has said that some banks may refuse to grant a loan on a flying freehold home.
It depends who your proposed lender is. Lloyds has different requirements from Birmingham Midshires. Should you wish to telephone us we can look into this further via the appropriate mortgage company. If you lender is happy to lend one our lawyers can help as they are used to dealing with flying freeholds in Collier Row. Conveyancing can be more complicated and therefore you should check with your conveyancing solicitor in Collier Row to see if the conveyancing will be more expensive.
I am 17 days into a residential purchase having been directed to solicitors by the estate agent to handle our conveyancing in Collier Row. I am am starting to be disappointed with the quality of service. Could you you assist me in finding new lawyers?
They would need to be really bad to suggest replacing them. Has your loan offer been issued? In the event that it has you need to make them aware of the new contact details and get the mortgage documents are re-issued. The conveyancer needs to be on the lenders approved list to avoid supplemental expenses and frustration. So that should be your starting point. Our find a solicitor tool can assist you in finding a lender approved lawyer for your conveyancing in Collier Row
I've recently bought a leasehold flat in Collier Row. Am I liable to pay service charges relating to a period prior to completion of my purchase?
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. However, 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).
Despite our best efforts, we have been unsuccessful in trying to purchase the freehold in Collier Row. Can this matter be resolved via the Leasehold Valuation Tribunal?
Absolutely. We are happy to put you in touch with a Collier Row conveyancing firm who can help.
An example of a Lease Extension decision for a Collier Row residence is 37 Lodge Court High Street in November 2013. the decision of the LVT was that the premium to be paid for the new lease was £25,559 This case related to 1 flat. The unexpired residue of the current lease was 57.5 years.