I plan on purchasing a ground floor flat in Hilsea. My property lawyer is not on the mortgage company approved list. Am I still permitted to continue with my Hilsea conveyancing solicitor even though they are excluded from the mortgage company panel of approved conveyancing solicitors?
Various options include
- Proceed with your existing Hilsea solicitor but your lender will no doubt use a property lawyer from their conveyancing panel. This will result in additional fees together with potential frustration.
- Appoint a new solicitor to conduct the conveyancing, obviously checking they are on the bank conveyancing panel.
- Convince your conveyancing practitioner to do everything possible to get listed on the mortgage company conveyancing panel
Can I use your services to locate a Conveyancing solicitor in Hilsea even where I’m not purchasing or selling a house, for instance where I want to acquire an office in Hilsea with a loan from The Mortgage Works?
Our search tool is predominantly utilised to locate domestic conveyancing solicitors in Hilsea but we have recorded at the bottom of this page a few Hilsea commercial conveyancing firms. You will need to make contact with the firm directly to check if they can also act for The Mortgage Works
We wanted to use a conveyancing solicitor in Hilsea for our home move. Our financial adviser informed us that our mortgage lenders Lloyds TSB Bank won't deal with them. Surely this is unfair competition?
Mortgage Companies ordinarily imposes restrictions either the type or the amount of conveyancing firms on their member panel. A common example of such criteria being that a firm must have two or more partners. In addition to restricting the profile of firm, a few banks have limited the number of solicitor practices they use to act for them. Be aware that Lloyds TSB Bank have no responsibility for the quality of advice provided by any member of Lloyds TSB Bank Conveyancer Panel. Mortgage fraud was a key driver in the rationalisation of conveyancing panels a few years ago even though there remains mixed opinions concerning the extent of solicitor engagement in some of that fraud. Figures from the Land Registry indicate that plenty of law firms, including some in or near Hilsea only conduct one or two conveyances a year.
I'm purchasing a new build house in Hilsea with a loan from Coventry Building Society. The developers refused to move on the amount so I negotiated five thousand pounds worth of additionals instead. The property agent told me not inform my solicitor about the extras as it could impact my mortgage with the bank. Do I keep my lawyer in the dark?.
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.
As co-executor for the estate of my uncle I am disposing of a property in Monmouth but I am based in Hilsea. My lawyer (based 200 kilometers from meneeds me to sign a stat dec prior to completion. Could you suggest a conveyancing solicitor in Hilsea to witness and place their company stamp on the document?
strictly speaking you should not be required to have the documents attested by a conveyancing solicitor. Ordinarily or notary public or solicitor will do regardless of whether they are based in Hilsea
I am a negotiator for a reputable estate agent office in Hilsea where we have witnessed a number of leasehold sales put at risk as a result of leases having less than 80 years remaining. I have received inconsistent advice from local Hilsea conveyancing solicitors. Can you clarify whether the owner of a flat can instigate the lease extension process for the purchaser on completion of the sale?
Provided that the seller has been the owner for at least 2 years it is possible, to serve a Section 42 notice to kick-start the lease extension process and assign the benefit of the notice to the purchaser. This means that the proposed purchaser need not have to wait 2 years to extend their lease. Both sets of lawyers will agree to form of assignment. The assignment needs to be completed before, or simultaneously with completion of the sale.
Alternatively, it may be possible to agree the lease extension with the freeholder either before or after the sale. If you are informally negotiating there are no rules and so you cannot insist on the landlord agreeing to grant an extension or transferring the benefit of an agreement to the buyer.
I am the registered owner of a split level flat in Hilsea, conveyancing formalities finalised 3 years ago. How much will my lease extension cost? Similar flats in Hilsea with a long lease are worth £165,000. The ground rent is £50 charged once a year. The lease terminates on 21st October 2103
With 78 years remaining on your lease we estimate the premium for your lease extension to span between £7,600 and £8,800 as well as professional fees.
The figure above a general guide to costs for renewing a lease, but we are not able to provide the actual costs without more detailed investigations. Do not use this information in a Notice of Claim or as an informal offer. There may be additional issues that need to be considered and you obviously 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.