Do the Building Society Association intend to launch a search tool with a view to to identify law firms on the Darlington Building Society conveyancing panel for instance in Lynmouth?
We are not aware of any intention on the part of the BSA to develop such a register.
We had instructed solicitors locally in Lynmouth on the RBS solicitor panel. They are now charging me a separate amount for the legal aspects of the RBS mortgage. Is this an additional conveyancing fee specified by RBS?
As unfair as it may appear, as long as it’s in their Terms and Conditions or Quote then yes your solicitor may charge a fee for this. This fee is not dictated by RBS but by your Lynmouth property lawyer. Numerous firms on the RBS panel will levy an ‘acting for lender’ fee and others do not.
My wife and I are in the throws of viewing houses in Lynmouth and I am about to put in an offer. Is it sensible to have my conveyancing practitioner on ‘stand by’? I am planning to take a mortgage with Barclays.
It would be wise to start your search sooner rather than later. Once you decide who you want to use and once your offer is accepted you can instruct them to work for you and pass their details on to the estate agent. Given that you are obtaining a mortgage with Barclays, ask your prospective lawyers if they are on the Barclays conveyancing panel otherwise they can't do the mortgage legal work.
The formalities of my remortgage has taken place for my property in Lynmouth. Conveyancing was satisfactory but I feel I should register my dissatisfaction about the lender. How do I make a complaint?
Most lenders have complaints procedures. Your first point of contact should be one of the lender’s branches or the Customer Care Department at head office. We understand that complaints to a lender are resolved effectively and efficiently. If you feel the matter is not resolved you can write to Financial Ombudsman Service, South Quay Plaza, 183 Marsh Wall, London E14 9SR who will take matters further.
My colleague suggested that where I am buying in Lynmouth I should ask my conveyancer to execute a Neighbourhood, Planning and Local Amenity Search. What does it cover?
A search of this type is usually quoted for as part of the standard Lynmouth conveyancing searches. It is not a small report of about 40 pages, listing and setting out significant information about Lynmouth around the property and the people living there. It includes an Aerial Photograph, Planning Applications, Land Use, Mobile Phone Masts, Rights of Way, the Lynmouth Housing Market, Council Tax Banding, the demographics of People living in the area, the dominant type of Housing, the Average House Prices, Crime statistics, Lynmouth Education with maps and statistics, Local Amenities and other useful data concerning Lynmouth.
Over the last few months I have been searching for a ground for flat up to £305k and identified one round the corner in Lynmouth I like with a park and station nearby, however it's only got 49 years on the lease. I can't really find anything else in Lynmouth in this price bracket, so just wondered if I would be making a mistake acquiring a lease with such few years left?
If you need a mortgage the shortness of the lease will likely be an issue. Reduce the price by the expected lease extension will cost if not already taken into account. If the current proprietor has owned the property for a minimum of 2 years you could ask them to commence the lease extension formalities and pass it to you. You can add 90 years to the existing lease with a zero ground rent applied. You should speak to your conveyancing lawyer concerning this.
Am I right to be suspicious by brokers that I am dealing with are recommending a nationwide conveyancing firm rather than a local Lynmouth conveyancing practice?
As with lots of service providers, often referrals from connections can be very helpful. Nevertheless there are many people with a keen interest in a conveyancing matter; estate agents, mortgage brokers and lenders might all recommend conveyancers to use. Sometimes the solicitors might be known to one of the organisations as one of the best in their field, but sometimes there exists a financial incentive behind the endorsement. You have the right to appoint your preferred conveyancer. You need to be aware that most banks operate an approved list of law firms you must use for the lender aspect of your home move.
I have just appointed agents to market my garden flat in Lynmouth. Conveyancing solicitors are to be appointed soon, but I have recently had a half-yearly maintenance charge demand – Do I pay up?
It best that you clear the invoice as normal given that all ground rent and service charges will be allotted as part of the financial calculations for completion monies, so you will be reimbursed by the purchaser for the period running from after the completion date to the next payment 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. Having a clear account will assist your cause and will leave you no worse off financially.
I acquired a studio flat in Lynmouth, conveyancing formalities finalised 3 years ago. Can you let me have an estimate of the premium that my landlord can legally expect in return for granting a renewal of my lease? Comparable properties in Lynmouth with over 90 years remaining are worth £185,000. The average or mid-range amount of ground rent is £65 invoiced annually. The lease runs out on 21st October 2086
With just 61 years unexpired the likely cost is going to span between £18,100 and £20,800 plus legals.
The figure above a general guide to costs for renewing a lease, but we are not able to advice on the actual costs in the absence of comprehensive due diligence. You should not use this information in a Notice of Claim or as an informal offer. There may be other concerns that need to be taken into account and you obviously want to be as accurate as possible in your negotiations. Neither should you move forward based on this information without first getting professional advice.