Am I correct in assuming that the fact that my solicitor in Keswick is not identified on my mortgage company's solicitor panel that there is a problem with the quality of his work?
That is most likely an incorrect assumption to make. There are plenty of plausible explanations. A recent 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) low volume 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. Should you be concerned you should simply call the Keswick conveyancing practice and ask them why they are no longer on the approved list for your lender.
I am purchasing my first flat in Keswick with a mortgage from Bank of Scotland. The sellers refused to reduce the price so I negotiated £7000 of additionals instead. The house builders rep suggested that I not to tell my solicitor about the side-deal as it will impact my mortgage with Bank of Scotland. 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.
What makes your site different to other online quote calculators for conveyancing in Keswick?
At this site receive an accurate quote from a Solicitor or Licensed Conveyancer that appreciates the nuances for your conveyancing in Keswick. Unlike many estate agents and many comparison sites we do not have commission deals with solicitors. Many agents and online brokers 'recommend' the firm that pays the highest per referral, rather than the best value conveyancing in Keswick
I am thinking of appointing a conveyancing practitioner in Keswick for my house move. Can I see a solicitor's complaints history with the profession’s regulator?
One can see documented Solicitor Regulator Association (SRA) determinations stemming from investigations commenced on or after Jan 2008. Go to Check a solicitor's record. To find records about the period before 1 January 2008, or to check a firm's history, ring 0870 606 2555, 08.00 - 18.00 any week day save for Tuesday when lines open at 9.30am. For callers outside the UK, dial +44 (0)121 329 6800. The regulator could monitor call for training purposes.
I am tempted by the attractive purchase price for a couple of flats in Keswick which have about 50 years unexpired on the leases. should I be concerned?
There are no two ways about it. A leasehold flat in Keswick is a wasting asset as a result of the shortening lease. The nearer the lease gets to zero years unexpired, the more it reduces the salability of the premises. The majority of purchasers and banks, leases with less than 75 years become less and less attractive. On a more positive note, leaseholders can extend their leases by serving a Section 42 Notice. One stipulation is that they must have owned the premises for two years (unlike a Section 13 notice for purchasing the freehold, when leaseholders can participate from day one of ownership). When successful, they will have the right to an extension of 90 years to the current term and ground rent is effectively reduced to zero. Before moving forward with a purchase of a property with a short lease term remaining you should talk to a solicitor specialising in lease extensions and leasehold enfranchisement. We are are happy to put you in touch with Keswick conveyancing experts who will explain the options available to you during an initial telephone conversation free of charge. More often than not it is possible to negotiate informally with the freeholder to extend the lease. They may agree to a smaller lump sum and an increase in the ground rent, but to shorter extension terms in return. You need to ensure that any new terms represent good long-term value compared with the standard benefits of the Section 42 Notice and that onerous clauses are not inserted into any redrafting of the lease.
I invested in buying a basement flat in Keswick, conveyancing having been completed November 2010. Can you give me give me an indication of the likely cost of a lease extension? Corresponding flats in Keswick with over 90 years remaining are worth £179,000. The ground rent is £65 charged once a year. The lease terminates on 21st October 2082
With only 57 years remaining on your lease we estimate the price of your lease extension to range between £26,600 and £30,800 plus plus your own and the landlord's "reasonable" professional fees.
The figure that we have given is a general guide to costs for extending a lease, but we are not able to supply a more accurate figure in the absence of detailed investigations. Do not use this information in a Notice of Claim or as an informal offer. There are no doubt additional concerns that need to be taken into account and clearly you should be as accurate as possible in your negotiations. Neither should you take any other action based on this information before getting professional advice.
Are there any distinct benefits to selecting a high street conveyancer in Keswick
Many buyers and sellers in Keswick decide on using a nearby high street solicitor so that they can visit just in case they have problems, and to execute documents rather than depending on the post.
There is a marginal advantage in selecting a conveyancer local to a premises you are hoping to purchase, due to the knowledge of the region and potential local concerns - yet this is moot. Most conveyancers are now online and could be based anywhere.