My lawyer has identified a a problem with the lease for the flat we are purchasing in Fetcham. The seller’s lawyers have put forward title insurance as a solution. We are content with insurance and will cover the costs. Our conveyancer has advised that he must check that the lender is willing to move forward with this solution. Are we the client or is the bank?
The short answer to your last question is that, notwithstanding the risk of a conflict of interest, you and the lender are the client. Your lawyer must comply with the UK Finance Lenders’ Handbook requirements. The UK Finance Lenders’ Handbook conditions require your lawyer to disclose issues such as defects with the lease so that the lender can be afforded the opportunity to check with their valuer as to the extent that the value of the property is affected. Should you refuse to allow your lawyer to make the appropriate notification then your lawyer will have no choice but to discontinue acting for you.
Are all Fetcham Conveyancing Quality Solicitors on the Clydesdale conveyancing panel?
It is true that some lenders now use the accreditation scheme as the kick off point for Panel approval such as HSBC and Santander. CQS accreditation however is no guarantee to lender panel acceptance. Nevertheless,the Council of Mortgage Lenders have indicated that it is likely to become a pre-requisite for firms wishing to join their panels.
The mortgage over my property is with HSBC for my property in Fetcham. Conveyancing has been completed months ago. Should I wish to rent out the flat and do not currently have a buy-to-let mortgage do I need to remortgage to a BTL mortgage or inform HSBC?
Your original mortgage agreement with HSBC will provide that you need their approval in advance of renting your property as this is likely to be a breach of HSBC’s mortgage conditions. It may be that HSBC will allow you to rent out your former home without needing to switch to a buy-to-let mortgage but some lenders will add a surcharge to your mortgage rate to reflect the higher risk. You should contact HSBC directly. You need not do this via a HSBC conveyancing panel lawyer.
The formalities of my purchase has taken place for my property in Fetcham. Conveyancing was a necessary evil but I would like to complain about the lender. How do I make a complaint?
Almost all banks and building societies have complaints procedures. Your first point of contact should be one of the lender’s branches or the Customer Services Department at head office. Ordinarily complaints to a lender are resolved very quickly. If you feel the matter is not resolved you can write to Financial Ombudsman Service, South Quay Plaza, 183 Marsh Wall, London E14 9SR who will take matters further.
Should commercial conveyancing searches reveal impending roadworks that may impact a commercial premises in Fetcham?
Many commercial conveyancing solicitors in Fetcham will conduct a SiteSolutions Highways report as it reduces the time that conveyancers spend in investigating accurate data on highways that impact buildings and development assets in Fetcham. The search result sets out definitive data on the adoption status of roads, footpaths and verges, as well as the implication of traffic schemes and the rights of way surrounding a commercial development sites in Fetcham.
For every commercial conveyancing transaction in Fetcham it is crucial to investigate the adoption status of roads surrounding a site. Failure to identify developments where adoption procedures have not been addressed adequately could cause delays to Fetcham commercial conveyancing transactions as well as present a risk to future plans for the site. These searches are not ordered for residential conveyancing in Fetcham.
The estate agent has sent us the confirmation of our purchase of a new build flat in Fetcham. Conveyancing is a frightening process at the best of times but I have never purchased a new build flat before. Can you give me some examples of some of the questions asked in new build legal work.
Here is a sample of a selection of leasehold new build enquiries that you may expect your new-build leasehold conveyancing in Fetcham
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Will the freehold then be transferred for a nominal consideration (not exceeding £100) to the Management Company? Please supply a car parking plan. There must be mutual enforceability of lessee’s covenants. The Landlord must covenant to assume the management if the Management Company goes into liquidation or otherwise defaults in running the management scheme. Please confirm the Lease plans are surveyor prepared.
I have recently realised that I have 72 years unexpired on my lease in Fetcham. I now wish to extend my lease but my freeholder is absent. What options are available to me?
If you qualify, under the Leasehold Reform, Housing and Urban Development Act 1993 you can apply to the County Court for an order to dispense with the service of the initial notice. This will mean that your lease can be extended by the Court. However, you will be required to prove that you have used your best endeavours to find the freeholder. For most situations a specialist should be helpful to conduct investigations and prepare an expert document to be used as proof that the freeholder can not be located. It is wise to seek advice from a conveyancer both on devolving into the landlord’s disappearance and the application to the County Court covering Fetcham.
I own a 1st floor flat in Fetcham, conveyancing formalities finalised June 2008. Can you give me give me an indication of the likely cost of a lease extension? Equivalent properties in Fetcham with an extended lease are worth £211,000. The ground rent is £50 levied per year. The lease ceases on 21st October 2094
With 68 years remaining on your lease we estimate the price of your lease extension to span between £9,500 and £11,000 plus costs.
The suggested premium range above a general guide to costs for renewing a lease, but we are not able to advice on the actual costs without more comprehensive investigations. You should not use this information in tribunal or court proceedings. There may be other concerns that need to be considered and clearly you want to be as accurate as possible in your negotiations. Please do not take any other action placing reliance on this information without first getting professional advice.
We are thinking of choosing a web based lawyer rather than a Fetcham conveyancing firm. Should I ‘stay local’?
Advantages do exist in having the option pop in to a local Fetcham conveyancing solicitor for instance
- signing documents and and when necessary
- getting one on one explanations of things that need explaining
- the ability to complain if matters are not going as expected
When comparing fees, look out for hidden extras. Most decent Fetcham high street solicitors give an all-inclusive price. Often online agents appear to offer cheap fees, yet have hidden 'extras' in the fine print.