Unfortunately I am unable to travel far from Groby and Ratby. I would like to know the logic why all Groby and Ratby solicitors are not on all lender panels?
Even though it may seem unfair for banks to limit who can act for them, from the public’s or lawyer’s standpoint, the other side of the coin is that mortgage companies are increasingly anxious and feel it imperative to defend themselves from mortgage fraud. As a consequence of this concern mortgage companies have restricted their conveyancing panel to a manageable size.
I purchased a freehold residence in Groby and Ratby but nevertheless charged rent, why is this and what is this?
It’s unusual for properties in Groby and Ratby and has limited impact for conveyancing in Groby and Ratby but some freehold properties in England (particularly common in North West England) pay an annual sum known as a Chief Rent or a Rentcharge to a third party who has no other legal interest in the land.
Rentcharge payments are usually between £2.00 and £5.00 per year. Rentcharges have existed for hundreds of years, but the Rent Charge Act 1977 barred the generation of new rentcharges post 1977.
Old rentcharges can now be extinguished by making a lump sum payment under the Act. Any rentcharges that are still in existence after 2037 will be dispensed with completely.
is it true that all Groby and Ratby solicitor practices on the Aldermore conveyancing panel are governed by the SRA?
As a firm of solicitors, in order to be on the Aldermore approved list of solicitors they would need to be regulated by the SRA. The majority of mortgage companies do permit licenced conveyancers on their panel in which case such practice would be overseen by the CLC.
We previously appointed conveyancing lawyers located in Groby and Ratby on the Virgin Money solicitor panel. They have just invoiced me an additional fee for handling the Virgin Money mortgage. Is this a supplemental conveyancing fee specified by Virgin Money?
Provided it is contained in their Terms and Conditions or Quote then yes your conveyancing practitioner may levy a fee for this. The charge is not dictated by Virgin Money but by your Groby and Ratby solicitor. Numerous firms on the Virgin Money panel will charge an ‘acting for lender’ fee and others do not.
Two weeks ago we had a mortgage agreed in principle with Yorkshire BS. Groby and Ratby conveyancing lawyers were instructed. What is the average time that one could expect to receive a mortgage offer from Yorkshire BS?
Some lenders take longer than others. Have Yorkshire BS conducted the survey? Have you advised Yorkshire BS as to your lawyers' details and checked that your lawyers are on the Yorkshire BS conveyancing panel? Sometimes it can take as long as six weeks for a mortgage offer to be issued.
I am looking for a leasehold apartment up to £245,000 and identified one close by in Groby and Ratby I like with open areas and station in the vicinity, the downside is that it only has 51 remaining years left on the lease. I can't really find anything else in Groby and Ratby for this price, so just wondered if I would be making a mistake acquiring a lease with such few years left?
Should you require a mortgage the remaining unexpired lease term may be a potential deal breaker. Discount the offer by the amount the lease extension will cost if it has not already been discounted. If the existing proprietor has owned the property for at least 2 years you could request that they commence the lease extension formalities and then assign it to you. An additional ninety years can be extended on to the current lease term and have £0 ground rent by law. You should speak to your conveyancing solicitor concerning this.
In what way does the Landlord & Tenant Act 1954 impact my commercial property in Groby and Ratby and how can you help?
The particular law that you refer to provides protection to business lessees, giving them the legal entitlement to make a request to court for a renewal lease and remain in occupation when the lease comes to an end. There are certain specified grounds that a landlord can refrain from granting a lease renewal and the rules are involved. Fees are different for commercial conveyancing. Groby and Ratby is one of our many areas of the UK in which our lawyers are based
I need to instruct a conveyancing solicitor for leasehold conveyancing in Groby and Ratby. I have discover a web site which seems to have the ideal solution If there is a chance to get all the legals done via email that would be ideal. Should I be concerned? What are the potential pitfalls?
As usual with these online conveyancers you need to read ALL the small print - did you notice the extra charge for dealing with the mortgage?