We are hoping to purchase a 3 bedroom flat in Dunchurch with a mortgage. We like our Dunchurch solicitor, but the bank says she’s not on their "panel". It seems we have no option but to instruct one of the mortgage company panel firms or retain our Dunchurch solicitor as well as pay for one of their panel lawyers to act for them. This seems very unfair; is there anything we can do?
No, not really. Your mortgage offer is subject to its terms and conditions, one of which will be that lawyers will on the bank’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 Dunchurch conveyancing solicitor to apply to be on the conveyancing panel.
I am acquiring a property for cash in Dunchurch. I have lived for the previous Seventeen years in Dunchurch. Conveyancing searches are a lot of money. As I have knowledge of the road and vicinity very well should I not bother getting the solicitor to do all the conveyancing searches?
If you not getting a mortgage, then all but one or two of the Dunchurch conveyancing searches are at your discretion. Your lawyer will ’encourage you, no-doubt strongly, that you should have searches completed, but she is duty bound to take that path of guidance. One thing to bear in mind; if you are likely to dispose of the house in the future, it could be of importance to your prospective buyer what the searches determine. There are plenty of instances where houses with day to day issues can still show up unpredicted search results. A good conveyancing solicitor in Dunchurch should provide you some sensible guidance in this regard.
I am the only recipient of my late grandmother’s will with all property in now in my sole name, including the my former home in Dunchurch. Conveyancing formalities meant that the Land Registry date was in March. I now wish to sell up. I understand that there is a CML 6 month 'rule', which means that my proprietorship will be treated the same way as if I'd bought the house in March. Do I have to wait 6 months to sell?
The CML handbook requires solicitors to: "report to us immediately if the owner or registered proprietor has been registered for less than six months." By the strict wording you might be caught by that. Some banks would take a pragmatic view as this obligation primarily exists to identify the purchase and immediately sell or the wholesaling and assigning of property.
Are all Dunchurch Conveyancing Quality Solicitors on the TSB conveyancing list of approved solicitors?
Some major banks and building societies now use CQS as the starting point for Panel approval such as HSBC and Santander. The Law Society’s CQS accreditation however gives no guarantee to lender panel acceptance. That being said,the Council of Mortgage Lenders have indicated that it is likely to become a pre-requisite for solicitor practices wishing to remain on their approved list of conveyancing solicitors.
Planning on purchasing a flat in Dunchurch. I have received an online quote from a licenced conveyancer, which states: "There will be no charge for dealing with the Lender if you are obtaining a mortgage". I take this to mean that there will be no additional fee if the solicitor is on the Coventry BS conveyancing panel. I wanted to make sure it means there will be no additional fees for dealing with the mortgage.
They are simply saying that the cost for acting for the lender is included in the fee being quoted. It is worth you checking that the Dunchurch property lawyer is on the Coventry BS conveyancing panel.
I have recentlybecome aware that Action Conveyancing have closed. They carried out my conveyancing in Dunchurch for a purchase of a leasehold apartment 10 months ago. How can I establish that the property is in my name in the name of the former proprietor?
The quickest way to check if the property is registered to you, you can carry out a search of the land registry (£3.00). You can either do this yourself or ask a law firm to do this for you. If you are not registered you can seek help from one of a number of Dunchurch conveyancing specialists.
I decided to have a survey carried out on a house in Dunchurch prior to retaining conveyancers. I have been told that there is a flying freehold overhang to the property. My surveyor advised that some banks will refuse to give a mortgage on this type of premises.
It varies from the lender to lender. HSBC has different requirements from Halifax. If you e-mail us we can investigate further with the relevant bank. If you lender is happy to lend one our lawyers can help as they are accustomed to dealing with flying freeholds in Dunchurch. Conveyancing may be slightly more expensive based on your lender's requirements.
Can you offer any advice when it comes to choosing a Dunchurch conveyancing firm to carry out our lease extension conveyancing?
If you are instructing a conveyancer for your lease extension (regardless if they are a Dunchurch conveyancing firm) it is imperative that they be familiar with the legislation and specialises in this area of conveyancing. We advise that you talk with several firms including non Dunchurch conveyancing practices before you instructing a firm. If the firm is ALEP accredited then so much the better. The following questions could be helpful:
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How familiar is the firm with lease extension legislation? Can they put you in touch with clients in Dunchurch who can give a testimonial?
I acquired a 1st floor flat in Dunchurch, conveyancing formalities finalised half a dozen years ago. Can you shed any light on how much the price could be for a 90 year extension to my lease? Comparable properties in Dunchurch with a long lease are worth £176,000. The ground rent is £50 levied per year. The lease finishes on 21st October 2105
You have 80 years remaining on your lease we estimate the price of your lease extension to range between £8,600 and £9,800 plus plus your own and the landlord's "reasonable" professional fees.
The figure that we have given is a general guide to costs for extending a lease, but we are not able to advice on the actual costs in the absence of comprehensive due diligence. Do not use the figures in tribunal or court proceedings. There are no doubt additional issues that need to be considered and you obviously want to be as accurate as possible in your negotiations. Neither should you move forward placing reliance on this information before seeking the advice of a professional.