Is the fact that my solicitor in Harrold is not listed on my mortgage company's solicitor panel that there is a problem with the standard of the firm’s work?
That would most likely be a wrong assumption to make. There are plenty of plausible explanations. Just recently a report by the solicitors regulator revealed 76% of law firms surveyed had been removed from at least one lender panel. The most common reasons for removal are: (1) lack of transactions (2) the lawyer is a sole practitioner (3) as part of the HSBC panel reduction (4) regulatory contact by SRA (5) accidental removal. Where you are concerned you should contact the Harrold conveyancing practice and enquire why they are no longer on the approved list for your bank.
Do the conveyancing solicitors via your comparison service execute conveyancing in Harrold by way of an attended exchange?
We do have a number of conveyancing specialists who can conduct one day exchanges. Please e-mail us to receive a costs illustration and details as to dates.
I am buying a new build house in Harrold with a loan from The Royal Bank of Scotland. The builders would not budge the amount so I negotiated five thousand pounds worth of extras instead. The property agent advised me not disclose to my conveyancer about the extras as it would put at risk my mortgage with The Royal Bank of Scotland. 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.
I am looking for a ground for flat up to £235,500 and identified one close by in Harrold I like with open areas and transport links nearby, the downside is that it only has 61 remaining years left on the lease. I can't really find anything else in Harrold suitable, so just wondered if I would be making a grave error purchasing a short lease?
Should you need a mortgage that many years may be a potential deal breaker. Discount the offer by the anticipated lease extension will cost if it has not already been discounted. If the existing owner has owned the property for at least twenty four months you can request that they commence the lease extension formalities and then assign it to you. You can add 90 years to the current lease and have £0 ground rent by law. You should consult your conveyancing lawyer regarding this.
My father-in-law has recommend that I appoint his lawyers for conveyancing in Harrold. Should I use them?
There are no two ways about it the ideal way to select a conveyancing practitioner is to have referrals from friends or relatives who have used the conveyancer you're are thinking of instructing.
Completion is due on our sale of a £425,000 maisonette in Harrold in nine days. The landlords agents has quoted £408 for Certificate of Compliance, insurance certificate and 3 years statements of service charge. Is the landlord entitled to charge exorbitant fees for a leasehold conveyance in Harrold?
Harrold conveyancing on leasehold flats often requires the purchaser’s conveyancer sending questions for the landlord to answer. Although the landlord is not legally bound to address such questions the majority will be content to do so. They are entitled to invoice a reasonable administration fee for responding to questions or supplying documentation. There is no upper cap for such fees. The average fee for the information that you are referring to is £350, in some transactions it exceeds £800. The administration charge demanded by the landlord must be accompanied by a summary of entitlements and obligations in relation to administration fees, otherwise the invoice is technically not due. Reality however dictates that one has little choice but to pay whatever is requested of you should you wish to complete the sale of your home.
I purchased a split level flat in Harrold, conveyancing was carried out in 2002. Can you give me give me an indication of the likely cost of a lease extension? Corresponding properties in Harrold with a long lease are worth £180,000. The ground rent is £65 invoiced annually. The lease ceases on 21st October 2084
With just 59 years remaining on your lease we estimate the premium for your lease extension to span between £20,900 and £24,200 plus professional fees.
The figure above a general guide to costs for extending a lease, but we are not able to advice on the actual costs without more comprehensive due diligence. Do not use this information in tribunal or court proceedings. There are no doubt additional issues that need to be considered and clearly you should be as accurate as possible in your negotiations. You should not move forward based on this information without first getting professional advice.