We decided to go with a Lees based solicitor for our conveyancing in Lees yesterday. Going through the Terms it is apparent thatI am on the hook for costs even if the dealdoes not happen. Would I be best advised to appoint a web based conveyancing brokerage advertising no completion no charge conveyancing in Lees?
It is usually ‘give and take’ in that if "No Sale No Fee" is offered then the fee levels will generally be more expensive to counteract the conveyances that fail to complete. Also remember that these schemes tend not to protect you from expenses for example Lees conveyancing search costs.
Our solicitor has identified a a problem with the lease for the flat we are buying in Lees. The other side have suggested defective title insurance as a workaround. We are happy with insurance and will cover the costs. Our lawyer has advised that he must be satisfied that the lender is willing to move forward with this solution. Are we the client or is the lender?
The short answer to your last question is that, notwithstanding the potential for a conflict of interest, you and the lender are the client. Your solicitor must comply with the UK Finance Lenders’ Handbook provisions. The UK Finance Lenders’ Handbook conditions require your lawyer to disclose issues such as defects with the lease so that the lender can be afforded the opportunity to check with their valuer as to the extent that the value of the property is affected. Should you refuse to allow your lawyer to make the appropriate notification then your conveyancer will have no choice but to discontinue acting for you.
we are a couple who are buying a 2 bedroom flat in Lees with a residential mortgage from Britannia.We use our Lees conveyancing lawyer but Britannia informed us she’s not listed on their "panel". We have to appoint a Britannia panel lawyer or retain our local solicitor and fork out for one of their panel ones to represent them. We feel as though this is unjust; Can we not simply insist that Britannia use our lawyer?
Unfortunately,no. The mortgage issued to you is subject to its terms and conditions, one of which will be that solicitors must be on the Britannia conveyancing panel. in the past, most banks had large numbers of law firms on their panels: a borrower could choose one for themselves, as long as it was on the lender's panel. The lender would then simply instruct the borrower's lawyers to act for the lender, too. You can use your lender's panel lawyers or you could borrow from another lender which does not restrict your choice. Another option that might be available is for your solicitors to apply to be on the conveyancing panel for Britannia
Will my solicitor be raising enquiries regarding flooding as part of the conveyancing in Lees.
Flooding is a growing risk for lawyers carrying out conveyancing in Lees. Plenty of people will acquire a property in Lees, completely aware that at some time, it may suffer from flooding. However, leaving to one side the physical damage, where a property is at risk of flooding, it may be difficult to obtain a mortgage, satisfactory insurance cover, or dispose of the property. Steps can be carried out as part of the conveyancing process to forewarn the purchaser.
Lawyers are not best placed to give advice on flood risk, but there are a number of searches that can be carried out by the purchaser or on a buyer’s behalf which should figure out the risks in Lees. The standard information supplied to a purchaser’s lawyer (where the solicitors are adopting what is known as the Conveyancing Protocol) incorporates a usual question of the owner to find out whether the premises has historically flooded. If the property has been flooded in past which is not revealed by the seller, then a buyer could commence a compensation claim as a result of such an misleading reply. A buyer’s solicitors may also order an environmental search. This should higlight if there is any known flood risk. If so, more detailed inquiries will need to be carried out.
I am buying a new build house in Lees with the aid of help to buy. The sellers would not move on the amount so I negotiated 6k of fixtures and fittings instead. The estate agent advised me not inform my solicitor about the deal as it will put at risk my loan with Godiva Mortgages Ltd. 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 have recently realised that I have 62 years remaining on my lease in Lees. I am keen to extend my lease but my landlord is absent. What options are available to me?
If you qualify, under the Leasehold Reform, Housing and Urban Development Act 1993 you can apply to the County Court for an order to dispense with the service of the initial notice. This will enable the lease to be granted an extra 90 years by the magistrate. You will be obliged to prove that you or your lawyers have done all that could be expected to track down the lessor. In some cases a specialist should be useful to conduct investigations and to produce a report which can be accepted by the court as proof that the freeholder is indeed missing. It is wise to seek advice from a conveyancer in relation to investigating the landlord’s disappearance and the vesting order request to the County Court covering Lees.
I own a split level flat in Lees, conveyancing having been completed in 2007. Can you let me have an estimated range of the fair premium for a lease extension? Comparable flats in Lees with an extended lease are worth £191,000. The ground rent is £55 yearly. The lease runs out on 21st October 2079
You have 54 years left to run the likely cost is going to span between £32,300 and £37,400 plus legals.
The suggested premium range above a general guide to costs for renewing a lease, but we are not able to supply the actual costs without more detailed due diligence. Do not use the figures in tribunal or court proceedings. There are no doubt additional issues that need to be considered and you obviously should be as accurate as possible in your negotiations. You should not take any other action placing reliance on this information without first getting professional advice.