I was informed yesterday by my mortgage adviser that my Ettington the law firm I have appointed is not on the lender Solicitor panel. How can I be certain whether this is indeed the case?
Your first step should be to call your Ettington lawyer directly. You lawyer should advise you of the situation. If they are not on the panel they may recommend you to a Ettington conveyancing firm that is on the conveyancing panel for your mortgage company.
Would the conveyancing solicitors identified through your search tool conduct auction conveyancing in Ettington?
We know of a number of niche solicitors we can put you in touch with those conducting auction conveyancing. Ettington is just one of hundreds of locations where our lawyers have a presence.
We see that you have a search directory identifying law firms on the Kent Reliance conveyancing panel. Do firms pay you a referral fee if I instruct them for our own conveyancing in Ettington?
We are a listing service only for law firms wishing to communicate if they are on the Kent Reliance conveyancing panel or other lender panels. We do not charge referral fees to any conveyancer that you subsequently appoint for your conveyancing in Ettington.
I am assisting my step-mother sell her house in Ettington. Does the conveyancer order an EPC or should I organise this?
After the demise of Home Information Packs, energy performance certificates was kept a mandatory part of selling a property. An EPC must be commissioned in advance of the property being advertised. It is not something that lawyers normally arrange. Where you are instructing a Ettington conveyancing lawyer they might be willing to arrange EPC’s due to their contacts with reputable local providers
My bid for a property was accepted at auction in Ettington. Conveyancing is needed. What are my next steps?
Given that you have now exchanged you will need to instruct a conveyancing solicitor soon as you will have a tight deadline in which to complete the purchase. All auction property will have an associated auction set of papers. This will include most,if not all of the paperwork that your solicitor will need. Where you are dealing with leasehold premises the conveyancing pack may contain a copy of the lease, management information and a sellers leasehold information form and associated conveyancing documentation pertinent to leasehold premises. You must give this to your appointed conveyancing solicitor as soon as possible. Do make sure that your finances are in place to complete the transaction on the set completion date.
It is unclear whether my mortgage offer obliges me to make sure the lease term for the flat is extended prior to the completion date. I have telephoned my Ettington building society branch on various occasions and was told they are content with the situation and they would lend. My Ettington conveyancing solicitor - who is on the mortgage company conveyancing panel- called to say that they refuse to lend based on their UK Finance Lenders’ Handbook minimum lease term requirements. I simply don't know who is right.
Provided that the lawyer is on the mortgage company panel, she or he must follow the CML Handbook provisions for the bank. Unless your lawyer obtains specific confirmation in writing that the mortgage company will go ahead, your lawyer has no choice but to refrain from exchanging contract and committing you to the purchase. We would suggest that you ask the mortgage company to contact your lawyer in writing confirming that they will accept the number of years left on the lease.
I was advised by a number of selling agents in Ettington to select a property lawyer on your site. Is there a financial inducement for Estate Agents to promote your site rather than a competitor’s?
We refuse to give any referral fee for directing people to this site. We found it would be just too difficult a fee as a client could think, ‘Why is the agent getting a kickback? Why aren’t I receiving any benefit too?’ We would prefer to grow our business on genuine recommendations.
I am looking at a couple of apartments in Ettington which have about 50 years unexpired on the leases. Do I need to be concerned?
There are plenty of short leases in Ettington. The lease is a right to use the premises for a prescribed time frame. As the lease shortens the marketability of the lease decreases and it becomes more expensive to acquire a lease extension. This is why it is often a good idea to increase the term of the lease. It is often difficulties arise selling premises with a short lease as mortgage companies less inclined to grant a loan on properties of this type. Lease enfranchisement can be a protracted process. We recommend you seek professional help from a solicitor and surveyor with experience in this field.
I invested in buying a 1 bedroom flat in Ettington, conveyancing formalities finalised in 2008. Can you let me have an estimated range of the fair premium for a lease extension? Equivalent flats in Ettington with an extended lease are worth £222,000. The average or mid-range amount of ground rent is £50 invoiced every year. The lease expires on 21st October 2094
You have 70 years unexpired we estimate the price of your lease extension to span between £9,500 and £11,000 as well as plus your own and the landlord's "reasonable" professional fees.
The suggested premium range above a general guide to costs for renewing a lease, but we cannot give you a more accurate figure in the absence of comprehensive due diligence. Do not use this information in a Notice of Claim or as an informal offer. There are no doubt other concerns that need to be considered and you obviously want to be as accurate as possible in your negotiations. You should not move forward placing reliance on this information before getting professional advice.