My financial adviser has requested my Danbury solicitor’s panel member for the Nat West conveyancing panel. How do I find this out. I have tried my local Danbury office but they have not responded to me.
Have you tried contacting your Danbury lawyer about this?. They should have a central record lender panel numbers.
I am purchasing a new build duplex in Danbury and my conveyancer is telling me that she has to the bank to reveal incentives from the builder. I am on a tight deadline to exchange and my preference is not to delay deal. Is my lawyer right?
You should not exchange unless you have been advised to do so by your lawyer. A precondition to being on a lender panel is to comply with the UK Finance Lenders’ Handbook provisions. The CML Conveyancing Handbook requires that your lawyer have the appropriate Disclosure of Incentive form completed by the developer and accepted by your lender.
We note that you have a search directory listing law firms on the HSBC conveyancing panel. Do companies pay you a referral fee if I appoint them for our own conveyancing in Danbury?
We are a listing service only for law firms wishing to communicate if they are on the HSBC conveyancing panel or other lender panels. We do not charge referral fees to any conveyancer that you subsequently appoint for your conveyancing in Danbury.
My lawyer in Danbury has never been on on the Godiva Mortgages Ltd Approved Panel. Can I still use my prefered solicitor notwithstanding that they are excluded from the Godiva Mortgages Ltd panel of approved conveyancing solicitors?
Your options are as follows:
- Carry on with your preferred Danbury lawyers but Godiva Mortgages Ltd will need to instruct a lawyer on their list of acceptable firms. This will result in additional overall legal fees as well as result in frustration.
- Choose a new lawyer to to deal with the purchase, not forgetting to check they are Godiva Mortgages Ltd approved.
- Try to convince your Godiva Mortgages Ltd based solicitor to attempt to join the Godiva Mortgages Ltd panel
I am a negotiator for a reputable estate agency in Danbury where we have witnessed a number of leasehold sales jeopardised as a result of leases having less than 80 years remaining. I have received inconsistent advice from local Danbury conveyancing firms. Please can you clarify whether the owner of a flat can instigate the lease extension formalities for the purchaser on completion of the sale?
Provided that the seller has been the owner for at least 2 years it is possible, to serve a Section 42 notice to commence the lease extension process and assign the benefit of the notice to the purchaser. The benefit of this is that the proposed purchaser can avoid having to sit tight for 2 years to extend their lease. Both sets of lawyers will agree to form of assignment. The assignment has to be done prior to, or simultaneously with completion of the disposal of the property.
Alternatively, it may be possible to agree the lease extension with the freeholder either before or after the sale. If you are informally negotiating there are no rules and so you cannot insist on the landlord agreeing to grant an extension or transferring the benefit of an agreement to the buyer.
I invested in buying a basement flat in Danbury, conveyancing was carried out half a dozen years ago. Can you let me have an estimated range of the fair premium for a lease extension? Comparable flats in Danbury with over 90 years remaining are worth £190,000. The ground rent is £65 yearly. The lease terminates on 21st October 2086
With just 61 years left to run we estimate the premium for your lease extension to span between £19,000 and £22,000 plus legals.
The figure that we have given is a general guide to costs for renewing a lease, but we cannot give you the actual costs without more detailed due diligence. You should not use this information in tribunal or court proceedings. There are no doubt additional concerns that need to be considered and you obviously should be as accurate as possible in your negotiations. Please do not move forward based on this information before seeking the advice of a professional.
What is the reason for my conveyancing practitioner requiring various items of ID before they can commence with my conveyancing in Danbury?
Danbury conveyancing practitioners are duty bound by the Law Society, SRA, HM Land Registry and current AML Regulations to certify that the have checked the identity of their clients. It is also sometimes a requirement of your mortgage offer. Furthermore they have to complete various forms, particularly those relating to SDLT and need to have information such as your full names, NI number and DOB.