Some advice if I may. My Longthorpe lawyer is advising me that she is duty bound toconduct Longthorpe conveyancing searches due to the fact thatthe firm are on the Santanderconveyancing panel. Is this really necessary?
Unfortunately both you and your lawyer have little choice here. As you are taking a mortgage with a lender your conveyancer has to comply with their conditions as set out in their version of the CML Conveyancing Handbook. Your solicitor would have previously signed the Terms and Conditions of your bank’s conveyancing panel appointment which obliges them to follow the CML Handbook conditions . Even if you were a cash buyer you would be ill advised not to carry out Longthorpe conveyancing searches.
This question may be naive but I am new to the house moving as FTB of a ground floor flat in Longthorpe. Do I collect the keys to the house on completion from my conveyancer? If so, I will appoint a High Street conveyancing solicitor in Longthorpe?
On the day of completion you do not need to attend the conveyancers office in Longthorpe. Conveyancing lawyers for you will electronically transfer the completion advance to the seller's lawyers, and shortly after the monies have arrived, you should be able to collect the keys from the property Agents and start moving into the property. This tends to happen between 1 and 3pm.
I have paid off my mortgage with Barclays. I assume I don't need a Longthorpe lawyer on the Barclays panel to remove the mortgage at the Land Registry. Am I right?
If you have finished paying off your Barclays mortgage, they may send you evidence showing that you have paid it off. Alternatively they may notify the Land Registry directly. The Land Registry need to see this evidence before they will remove the Barclays mortgage from the register. Barclays, and any evidence they send you, will determine the action you need to take. In cases where no conveyancer is acting for you and you have paid off your mortgage:
- but are not moving to another property
- where Barclays has sent the Land Registry the discharge electronically, and
- Barclays has instructed the Land Registry to do so
I was told three weeks ago that my mortgage has been agreed to by UBS. Is it usual for UBS to only issue the offer once my solicitor in Longthorpe is approved on their conveyancing panel? UBS have asked my solicitor to see a copy of their Professional Indemnity Insurance Schedule.
A lender would not issue an offer until they have details of a lawyer on their panel. It can take a few weeks for UBS to deal with your lawyer's application to be on the UBS conveyancing panel. There's no guarantee that your solicitor will be accepted.
I am purchasing a new build house in Longthorpe with a loan from Nottingham Building Society. The sellers would not budge the price so I negotiated 6k of additionals instead. The house builders rep suggested that I not disclose to my solicitor about the deal as it will affect my mortgage with the bank. Should I keep quiet?.
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.
Due to the advice of my in-laws I had a survey completed on a house in Longthorpe prior to appointing conveyancers. I have been informed that there is a flying freehold aspect to the property. Our surveyor advised that some banks may not give a loan on this type of premises.
It depends who your proposed lender is. Santander has different requirements from Birmingham Midshires. If you e-mail us we can investigate further via the relevant mortgage company. If you lender is happy to lend one our lawyers can assist as they are used to dealing with flying freeholds in Longthorpe. Conveyancing will be smoother if you use a solicitor in Longthorpe especially if they regularly deal with such properties in Longthorpe.
My step-father has suggested that I appoint his conveyancing solicitors in Longthorpe. Should I use them?
Much as we are happy to recommend a Longthorpe conveyancing lawyer it’s preferable to select a conveyancing practitioner is to seek referrals from friends or relatives who have used the conveyancer that you are considering.
I’m about to sell my 2 bed flat in Longthorpe. Conveyancing lawyers have not yet been instructed, however I have just received a half-yearly maintenance charge demand – should I leave it to the buyer to sort out?
Your conveyancing lawyer is likely to suggest that you should discharge the invoice as normal because all rents and service payments should be allotted on completion, so you should recover the relevant percentage by the purchaser for the period running from after the completion date to the subsequent invoice date. Most managing agents will not acknowledge the buyer unless the service charges have been paid and are up to date, so it is important for both buyer and seller for the seller to show that they are up to date. This will smooth the conveyancing process.
I bought a leasehold flat in Longthorpe, conveyancing formalities finalised October 2010. Can you let me have an estimated range of the fair premium for a lease extension? Equivalent flats in Longthorpe with over 90 years remaining are worth £192,000. The average or mid-range amount of ground rent is £55 invoiced annually. The lease terminates on 21st October 2080
With 54 years left to run we estimate the premium for your lease extension to range between £32,300 and £37,400 as well as plus your own and the landlord's "reasonable" professional fees.
The suggested premium range above a general guide to costs for extending a lease, but we cannot give you a more accurate figure without more detailed investigations. You should not use the figures in a Notice of Claim or as an informal offer. There are no doubt other concerns that need to be taken into account and clearly you should be as accurate as possible in your negotiations. Neither should you move forward placing reliance on this information before getting professional advice.