Me and my partner are acquiring a flat in Gorton. My lawyer has never been on on the lender approved list. Is it possible for me to use my Gorton conveyancing solicitor even though they are not on the lender approved list?
Various options include
- Complete the purchase with your preferred Gorton conveyancing practitioner but your mortgage company will no doubt instruct a conveyancer from their conveyancing panel. The net result is additional fees together with potential frustration.
- Choose a fresh property lawyer to conduct the conveyancing, obviously checking they are on the bank conveyancing panel.
- Convince your conveyancing practitioner to do everything possible to get accepted on the lender’s conveyancing panel
When it comes to lenders such as Kent Reliance, do Gorton solicitors incur a yearly amount to be on the conveyancing panel?
We are not aware of any lender fees to register on their list of approved firms, although some do levy an administration charge to deal with the processing of the conveyancing panel application.
I am selling my flat. I had a double glazing fitted in June 2010, but did not receive a FENSA certificate or Building Regulation Certificate. My buyer's lender, RBS are being problematic. The Gorton solicitor who is on the RBS conveyancing panel is recommending indemnity insurance as a solution but RBS are insisting on a building regulation certificate. Why do RBS have a conveyancing panel if they don't accept advice from them?
It is probably the case that RBS have referred the matter to their valuer. The reason why RBS 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've read lots of house buying guides, I note that it is considered advisable to get your house surveyed prior to buying it. When I asked my local Gorton solicitor - who is on the Nationwide conveyancing panel - on this she said they don't do this and I need to contract an independent surveyor. Is that normal?
Nationwide will need an independent valuation of the property. Your lawyer will not arrange this. Usually Nationwide will appoint their own surveyor to do this, and you will have to pay for it. Remember that this is a valuation for mortgage purposes and not a survey. You may wish to consider appointing your own Gorton surveyor to carry out a survey or prepare a home buyers report on the property. It is up to you to satisfy yourself that the property is structurally sound before you buy it. If the survey or report reveals that building work is needed, you should tell your solicitor. You may wish to renegotiate with the seller.
I am purchasing a new build house in Gorton benefiting from help to buy. The sellers would not budge the price so I negotiated five thousand pounds worth of additionals instead. The property agent advised me not reveal to my solicitor about this extras as it will adversely affect my loan with the bank. Do I keep my lawyer in the dark?.
All lenders require a Disclosure of Incentives Form from the builder 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've recently found out that there is a flying freehold element on a property I put an offer in two weeks back in what was supposed to be a simple, chain free conveyancing. Gorton is where the house is located. Can you offer any advice?
Flying freeholds in Gorton are rare but are more likely to exist in relation to terraced houses. Even where you use a solicitor outside Gorton you would need to get your solicitor to go through the deeds thoroughly. Your mortgage company may require your conveyancing solicitor to take out an indemnity policy. Some of the more diligent conveyancing solicitors in Gorton may ascertain that this is not enough and that the deeds be re-written to give you the most up to date legal protection. If so, the next door neighbour also had to sign up to the revised deeds.It is possible that your lender will not accept the situation so the sooner you find out the better. You should also check with your insurance broker as to whether they will insure a flying freehold premises.
I am in need of some leasehold conveyancing in Gorton. Before I get started I would like to find out the unexpired term of the lease.
Assuming the lease is recorded at the land registry - and most are in Gorton - then the leasehold title will always include the short particulars 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.
I acquired a 1st floor flat in Gorton, conveyancing formalities finalised half a dozen years ago. Can you let me have an estimate of the premium that my landlord can legally expect in return for granting a renewal of my lease? Similar flats in Gorton with over 90 years remaining are worth £197,000. The ground rent is £55 yearly. The lease expires on 21st October 2080
With only 55 years remaining on your lease we estimate the price of your lease extension to be between £31,400 and £36,200 plus plus your own and the landlord's "reasonable" professional fees.
The figure above a general guide to costs for renewing a lease, but we cannot give you the actual costs in the absence of comprehensive investigations. Do not use the figures 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. Neither should you move forward placing reliance on this information without first getting professional advice.
Is it true that a Gorton conveyancing company taken to court by a client for failing to conduct the right conveyancing investigations?
We are not aware of such a Gorton conveyancing claim but it has been reported that, a couple purchasing a property in Cumbria successfully sued their conveyancer as a consequence of development plans to construct a wind farm not being identified in conveyancing searches.
Where you are purchasing in Gorton It is important that your property lawyer carry out all Gorton conveyancing searches needed to ensure you have accurate and current information ahead of purchasing a property.