My wife and I are planning to acquire a flat in Halstead and are in fact using a Halstead conveyancing firm. Within the past 48 hours our solicitor has sent a preliminary report and documents to look through with a view to exchanging next week. Bank of Ireland have this morning contacted us to advise us that there is now an issue as our Halstead solicitor is not on their approved list of lawyers. Is this a problem?
When purchasing a property with the benefit of a mortgage it is standard for the purchasers' lawyers to also act for the purchaser's lender. In order to act for a bank or building society a law firm has to be on that lender's conveyancing panel. An application has to be made by the law firm to the lender to become a member of the lender's panel and there are increasingly strict criteria which the firm has to satisfy and indeed some lenders now require their panel members to be part of the Law Society’s Conveyancing Quality Scheme. Your solicitor should contact your lender and see if they can apply for membership of their conveyancing panel, but if that is not viable they will instruct their own solicitors to act. You are not legally obliged to appoint a law firm on the lender’s conveyancing panel as you are at liberty to use your preferred Halstead lawyers, in which case it will likely add costs, and it will likely delay the transaction as you have another set of people involved.
Completed the sale of my flat in Halstead last November yet the purchaser is texting me complaining that his solicitor is waiting to hear from mylawyer. What are the post completion sale formalities now that I have sold?
Following your sale your lawyer is obliged to forward the transfer deeds and all supplemental paperwork to the purchaser's lawyers. Depending on the transaction, your conveyancer must also confirm that the home loan has been paid off to the buyers lawyers. There are no post completion requirements peculiar conveyancing in Halstead.
I'm buying a new build house in Halstead with a mortgage from Leeds Building Society. The sellers refused to reduce the price so I negotiated £7000 of fixtures and fittings instead. The estate agent told me not reveal to my lawyer about the extras as it may impact my loan with Leeds Building Society. 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 a fortnight ago in what was supposed to be a simple, chain free conveyancing. Halstead is the location of the property. What do you suggest?
Flying freeholds in Halstead are unusual but are more likely to exist in relation to terraced houses. Even though you don't necessarily need a conveyancing solicitor in Halstead you would need to get your solicitor to go through the deeds diligently. Your bank may require your conveyancing solicitor to take out an indemnity policy. Some of the more diligent conveyancing solicitors in Halstead may decide 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 property.
In my capacity as executor for the estate of my uncle I am disposing of a house in Neath but live in Halstead. My lawyer (approximately 200 miles awayhas requested that I execute a statutory declaration before the transaction finalising. Could you suggest a conveyancing solicitor in Halstead who can witness this legal document for me?
Technically speaking you are not likely to need to have the documents attested by a conveyancing solicitor. Ordinarily any notary public or solicitor will be fine regardless of whether they are based in Halstead
My partner and I may need to rent out our Halstead garden flat temporarily due to a new job. We used a Halstead conveyancing firm in 2003 but they have since shut and we did not think at the time seek any advice as to whether the lease prohibits the subletting of the flat. How do we find out?
Even though your last Halstead conveyancing solicitor is no longer around you can review your lease to see if you are permitted to let out the apartment. The rule is that if the lease is non-specific, subletting is permitted. There may be a precondition that you need to obtain permission from your landlord or other appropriate person before subletting. This means that you cannot sublet in the absence of prior consent. Such consent must not not be unreasonably refused ore delayed. If the lease prohibits you from subletting the property you should ask your landlord for their consent.
I bought a garden flat in Halstead, conveyancing was carried out in 2007. 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? Equivalent flats in Halstead with an extended lease are worth £216,000. The ground rent is £50 yearly. The lease ends on 21st October 2093
With 68 years unexpired the likely cost is going to range between £9,500 and £11,000 as well as legals.
The figure that we have given is a general guide to costs for extending a lease, but we cannot give you a more accurate figure without more comprehensive investigations. You should not use this information in a Notice of Claim or as an informal offer. There may be other concerns that need to be taken into account and you obviously want to be as accurate as possible in your negotiations. Neither should you move forward based on this information before seeking the advice of a professional.