Me and my husband are acquiring a maisonette in Elmstead. My Solicitor has never been on on the mortgage company solicitor list. Is it possible for me to use my Elmstead conveyancing solicitor even though they are excluded from the lender panel of approved conveyancing solicitors?
You have numerous options open to you here
- Complete the deal with your chosen Elmstead conveyancing practitioner but your lender will no doubt appoint a solicitor on their approved panel. This will result in additional cost and potential frustration.
- Get a fresh solicitor to conduct the conveyancing, making sure they are on the bank conveyancing panel.
- Convince your conveyancer to seek to join the mortgage company panel
I am buying my first flat in Elmstead with a loan from Yorkshire Building Society. The developers refused to budge the amount so I negotiated five thousand pounds worth of additionals instead. The sale representative suggested that I not reveal to my conveyancer about this deal as it could affect my mortgage with the lender. Is this normal?.
All lenders require a Disclosure of Incentives Form from the developer 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.
I am looking for a flat up to £245,000 and found one round the corner in Elmstead I like with open areas and station in the vicinity, however it only has 61 years on the lease. I can't really find anything else in Elmstead in this price bracket, so just wondered if I would be making a mistake buying a short lease?
If you require a home loan that many years will be a potential deal breaker. Discount the offer by the amount the lease extension will cost if not already taken into account. If the existing proprietor has owned the premises for a minimum of 2 years you can request that they start the process of the extension and then assign it to you. You can add 90 years to the current lease and have £0 ground rent by law. You should speak to your conveyancing solicitor about this matter.
I have been pointed in your direction by a number of selling agents in Elmstead to locate a solicitor using your seach tool. Is there a financial upside for Estate Agents to promote your site rather than alternative conveyancing organisations?
We don’t give any commission for sending work in our direction. We thought it would be too underhand a fee because a client could think, ‘Why is the agent getting a kickback? Why aren’t I getting any benefit too?’ So we decided to step away from that.
My husband and I are a couple of weeks into a residential purchase having been recommend to conveyancers by the selling agent to carry out the conveyancing in Elmstead. I am am starting to be disappointed with the quality of service. Could you you assist me in finding new solicitors?
A conveyancer would need to be very bad to suggest replacing them. Has the mortgage offer been sent? If so you must advise them of the new contact details and have the loan are issued to the new lawyers. The solicitor ideally needs to be on the banks panel to avoid supplemental charges and delays. That should be your first question of the new lawyers. The find a solicitor tool will assist you in finding a lender approved lawyer for your conveyancing in Elmstead
Having had my offer accepted I require leasehold conveyancing in Elmstead. Before I set the wheels in motion I want to be sure as to the unexpired term of the lease.
If the lease is registered - and 99.9% are in Elmstead - then the leasehold title will always include the basic details of the lease, namely the date; the term; and the original parties. From a conveyancing perspective such details then enable any prospective buyer and lender to confirm that any lease they are looking at is the one relevant to that title. For any other purpose, such as confirming how long the term was granted for and calculating what is left, then the register should be sufficient on it's own.
Having spent months of dialogue we are unable to agree with our landlord on how much the lease extension should cost for our flat in Elmstead. Can we issue an application to the Residential Property Tribunal Service?
Most certainly. We can put you in touch with a Elmstead conveyancing firm who can help.
An example of a Lease Extension case for a Elmstead property is 70 Andace Park Gardens 133-149 Widmore Road in November 2013. Tribunal determined that the premium payable for the lease extension was £10,052 This case affected 1 flat. The unexpired residue of the current lease was 72 years.