I was informed recently by my estate agent that my Duxford the law firm I have appointed is not on the mortgage company Solicitor panel. How can I be sure if this is correct?
You need to contact your Duxford conveyancer. You lawyer should inform you of the situation. If they are not on the panel they may recommend you to a Duxford conveyancing practice that is on the conveyancing panel for your lender.
All was ready to complete my purchase in Duxford next Friday. I have now been asked to send a copy of my building insurance schedule by my solicitor as as she informs me that she is duty bound to validate that it is in order for the mortgage company. What risks does the mortgage company expect the insurance to cover?
Any lawyer on acting for banks would need to check that the following risks are covered fire; lightning; aircraft; explosion; earthquake; storm; flood; escape of water or oil; riot; malicious damage; theft or attempted theft; falling trees and branches and aerials; subsidence; heave;landslip;collision;accidental damage to underground services;professional fees, demolition and site clearance costs; and public liability to anyone else. There are some other issues such as the level of excess that are set out in a lender’s UK Finance Lenders’ Handbook instructions. These obligations are not limited to conveyancing in Duxford.
We see that you have a post code search directory listing solicitors on the Lloyds conveyancing panel. Do companies pay you a referral fee if I instruct them for our conveyancing in Duxford?
We are a listing service only for law firms wishing to communicate if they are on the Lloyds conveyancing panel or other lender panels. We do not charge referral fees to any conveyancer that you subsequently appoint for your conveyancing in Duxford.
Is it correct that all Duxford CQS (Conveyancing Quality Scheme) solicitors are on the Leeds Building Society conveyancing list of approved practices?
It is true that some lenders now utilise 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 CML have indicated that it is likely to become a pre-requisite for solicitors wishing to remain on their approved list of firms.
We were going to get a DIP from UBS this week so we know how much we could potentially offer as otherwise we are dependent on web based calculators (which aren't taking into account credit checks etc). Do UBS recommend any Duxford solicitors on the UBS conveyancing panel, or is it better to find our own lawyer?
You will need to appoint Duxford solicitors independently although you'll need to choose one on the UBS conveyancing panel. The solicitor represents both you and UBS through the process.
I am currently in the process of buying my council flat in Duxford. I have a mortgage offer with RBS. Conveyancing is not something I have any knowledge of. Can I proceed without a solicitor easily? I think we can but we keep being told I should use one. Any advice?
It is not advisable to proceed with a house purchase without a solicitor. The council's solicitor are not acting for you. You need a solicitor for a number reasons. One of which is to verify what plans the Council have for repairs and refurbishment for the next five years. Many leaseholders have been stung for contributions of thousands of pounds. In any event, if you are getting a mortgage with RBS, you will need to appoint a solicitor on the RBS conveyancing panel.
We are intent on selling our house in Duxford and the buyers lawyers are claiming that there is a possibility that the property was constructed land that was not decontaminated. Any high street Duxford lawyer would know this is not the case. It does beg the question why the buyers instructed a national conveyancing outfit as opposed to a conveyancing solicitor in Duxford. We have lived in Duxford for three years we know of no issue. Do we get in touch with our local Authority to obtain clarification that the buyers are looking for.
It would appear that you have a conveyancing firm already. What do they say? You must enquire of your lawyer before you do anything. It is very possible that once the local authority has been informed of a potential issue it cannot be insured against (a bit like being diagnosed with a serious illness and then taking out health insurance to cover that same illness)
I am a negotiator for a long established estate agency in Duxford where we have witnessed a few leasehold sales put at risk due to leases having less than 80 years remaining. I have received contradictory information from local Duxford conveyancing firms. Could you confirm whether the owner of a flat can start the lease extension formalities for the buyer?
Provided that the seller has owned the lease 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 buyer can avoid having to wait 2 years to extend their lease. Both sets of lawyers will agree to form of assignment. The assignment has to be done before, or simultaneously with completion of the sale.
An alternative approach is 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 am the registered owner of a basement flat in Duxford, conveyancing was carried out 4 years ago. Can you work out an approximate cost of a lease extension? Equivalent properties in Duxford with over 90 years remaining are worth £206,000. The average or mid-range amount of ground rent is £45 charged once a year. The lease comes to an end on 21st October 2091
With just 65 years remaining on your lease we estimate the price of your lease extension to span between £13,300 and £15,400 plus costs.
The suggested premium range that we have given is a general guide to costs for extending a lease, but we cannot give you the actual costs in the absence of detailed investigations. Do not use the figures in a Notice of Claim or as an informal offer. There may be additional issues that need to be considered and clearly you should be as accurate as possible in your negotiations. You should not move forward placing reliance on this information without first getting professional advice.