I am purchasing property in Fareham. My Solicitor is not listed on the mortgage company solicitor panel. Am I still permitted to use my Fareham conveyancing solicitor notwithstanding that they are excluded from the mortgage company approved list?
You have a couple of alternatives open to you here
- Proceed with your chosen Fareham solicitor but your lender will need to retain a conveyancer on their conveyancing panel. This will result in additional charges together with likely interruption.
- Choose a new conveyancing practitioner to conduct the conveyancing, making sure they are on the bank conveyancing panel.
- Convince your conveyancer to seek to join the lender panel
Having sold my house in Fareham last September but the buyer keeps texting me complaining that their conveyancer needs to hear from mylawyer. What are the post completion sale legalities following completion?
Following your house sale your conveyancer is committed to send the transfer deeds and all of the paperwork to the purchaser's solicitors. If applicable, your conveyancer must also evidence that the legal charge in favour of the lender has been discharged to the purchasers lawyers. There are no post completion steps specific conveyancing in Fareham.
I am selling my house. I had a double glazing fitted in July 2007, but did not receive a FENSA certificate or Building Regulation Certificate. My buyer's lender, Skipton are being problematic. The Fareham solicitor who is on the Skipton conveyancing panel is happy to accept ‘lack of building regulation’ insurance but Skipton are requiring a building regulation certificate. Why do Skipton have a conveyancing panel if they don't accept advice from them?
It is probably the case that Skipton have referred the matter to their valuer. The reason why Skipton may not want to accept indemnity insurance is because it does not give them any reassurance that the double glazing was correctly and safely installed. The indemnity insurance merely protects against enforcement action which is very unlikely anyway.
I was told two weeks ago that my mortgage has been agreed to by Leeds Building Society. Is it usual for Leeds Building Society to only issue the offer once my solicitor in Fareham is approved on their conveyancing panel? Leeds Building Society have asked my solicitor to see a copy of their PI Insurance.
A lender would not issue an offer until they have details of a lawyer on their panel. It can take a few weeks for Leeds Building Society to deal with your lawyer's application to be on the Leeds Building Society conveyancing panel. There's no guarantee that your solicitor will be accepted.
I have finally had an offer on a flat in Fareham accepted, but there is a chain. The vendors have offered on a flat, but it’s not been accepted yet, and are looking at other apartments booked. I have chosen a high street conveyancing solicitor in Fareham. What should be my next step? When do I get the mortgage application with Bank of Ireland going?
It is normal to have anxieties where there is a chain as you are unlikely to want to incur expenses too early (home loan application is in the region of one thousand pounds, then survey, Fareham conveyancing search charges, etc). First, you should check that your lawyer is on the Bank of Ireland approved list. Concerning the subsequent phase this very much dictated by the uniqueness of your case, motivation for this property and on the state of the market. During a hot market some buyers would apply for a home loan with Bank of Ireland and arrange for the valuation and only if it comes back ok would they pay their solicitor to proceed with searches.
I'm buying a new build house in Fareham benefiting from help to buy. The sellers refused to reduce the price so I negotiated five thousand pounds worth of extras instead. The estate agent told me not reveal to my conveyancer about this deal as it could put at risk my loan 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.
My father has suggested that I instruct his conveyancing solicitors in Fareham. Do I follow his advice?
There are no two ways about it it’s preferable to choose a conveyancing lawyer is to have recommendations from friends or relatives who have actually experience in using the solicitor that you are considering.
Estate agents have just been given the go-ahead to market my basement flat in Fareham. Conveyancing has not commenced, however I have recently received a half-yearly maintenance charge demand – should I leave it to the buyer to sort out?
Your conveyancing lawyer is likely to suggest that you should discharge the service charge as normal as all rents and maintenance invoices should be apportioned as part of the financial calculations for completion monies, so you should recover the relevant percentage by the buyer for the period running from after the completion date to the subsequent invoice date. Most managing agents will not acknowledge the buyer unless the service charges have been paid and are up to date, so it is important for both buyer and seller for the seller to show that they are up to date. Having a clear account will assist your cause and will leave you no worse off financially.
I own a basement flat in Fareham, conveyancing having been completed 5 years ago. Can you give me give me an indication of the likely cost of a lease extension? Similar flats in Fareham with a long lease are worth £260,000. The average or mid-range amount of ground rent is £45 charged once a year. The lease comes to an end on 21st October 2100
With just 74 years unexpired we estimate the premium for your lease extension to range between £8,600 and £9,800 as well as plus your own and the landlord's "reasonable" professional fees.
The figure above a general guide to costs for extending a lease, but we are not able to provide a more accurate figure without more comprehensive investigations. 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 want to be as accurate as possible in your negotiations. Please do not move forward placing reliance on this information before seeking the advice of a professional.