I have just been advised by my financial adviser that my Langport property lawyer is not on the bank Solicitor panel. How can I be sure whether this is correct?
The first thing you need to do is to contact your Langport conveyancer. It is reasonable to expect your lawyer to advise you what has happened. Where they are not on the panel they could put your in touch with solicitors on the conveyancing panel for your mortgage company.
I am told that my conveyancing solicitors will need to check that the building insurance when buying a house in Langport. My lender is The Mortgage Works
The Mortgage Works have specific requirements as set out in the UK Finance Lenders’ Handbook. As of 21/12/2024, the requirements read as follows :
I am purchasing a new build house in Langport benefiting from help to buy. 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 this side-deal as it could impact my mortgage with the lender. 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 was recommended by two or three local selling agents in Langport to select a solicitor on your site. Is there a financial incentive for Estate Agents to recommend your services over another?
We don’t give any financial incentive for sending work to this site. We found it would be just too difficult to pay a commission because members of the public would think, ‘How come the agent getting a kickback? Why am I not receiving any benefit too?’ We would prefer to grow our business on genuine recommendations.
I am in need of some leasehold conveyancing in Langport. Before I get started I would like to find out the number of years remaining on the lease.
Assuming the lease is recorded at the land registry - and most are in Langport - then the leasehold title will always include the basic details of the lease, namely the date; the term; and the original parties. From a conveyancing perspective such details then enable any prospective buyer and lender to confirm that any lease they are looking at is the one relevant to that title. For any other purpose, such as confirming how long the term was granted for and calculating what is left, then the register should be sufficient on it's own.
Langport Conveyancing for Leasehold Flats - Sample of Questions you should ask before Purchasing
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Does the lease have onerous restrictions? The best form of lease arrangement is if the freehold reversion is in the ownership of the leaseholders. In this situation the leaseholders enjoy being in charge if their destiny and although a managing agent is frequently employed where the building is bigger than a house conversion, the managing agent acts for the leaseholders themselves. Most Langport leasehold apartments will incur a service charge for maintenance of the block set by the freeholder. Where you acquire the flat you will have to pay this contribution, usually in instalments during the year. This can vary from a couple of hundred pounds to thousands of pounds for buildings with lifts and large common areas. There will also be a rentcharge to be met yearly, this is usually not a exorbitant sum, say about £50-£100 but you should to check it because sometimes it can be many hundreds of pounds.
My brother is buying a studio flat in Langport. He has received an estimate by the conveyancing practitioner recommended by the estate agents totaling £1275 . It was eight years ago I sold and bought a home and it cost was £450. Have charges really gone up that much?
What does the conveyancing estimate include? Is it just for the legal fees, or what you will be paying in total (for example Langport searches, land registry fees, etc)