I can't travel far from Lytchett Matravers. I would like to know the logic why all Lytchett Matravers solicitors are not on all bank panels?
Pre- 2008 most mortgage companies exhibited an approach to risk which differs from the current day. The financial regulator in 2010 carried out a thematic review into fraud which in summary warned lenders: know the conveyancers on your panel. Consequently, banks have since looked to extract more data from law firms about their operations and the staff who work for them and set certain criteria such as completing a minimum number of transactions. Many firms have been removed from lender panels even though they had an exemplary track record, no complaints and zero claims and didn't just 'dabble' in conveyancing. Many firms found it impossible satisfy the criteria of volume of transactions the mortgage companies insisted on.
I purchased a freehold residence in Lytchett Matravers but still pay rent, why is this and what is this?
It is rare for properties in Lytchett Matravers and has limited impact for conveyancing in Lytchett Matravers but some freehold properties in England (particularly common in North West England) pay an annual sum known as a Chief Rent or a Rentcharge to a third party who has no other legal interest in the land.
Rentcharge payments are usually between £2.00 and £5.00 per year. Rentcharges date back many centuries, but the Rent Charge Act 1977 barred the creation of fresh rentcharges post 1977.
Previous rentcharges can now be redeemed by making a lump sum payment under the Act. Any rentcharges that are still in existence in 2037 will be extinguished.
I am considering applying for a Principality mortgage for purchase of a new build (under development) in Lytchett Matravers with 65 per cent loan to value. Is it compulsory to choose a solicitor on the conveyancing panel for Principality ?
There is nothing to stop you using your solicitor, but Principality will insist on their interests being represented by a firm on their conveyancing panel. There is much more potential for delays and confusion with two solicitors involved, and it will undoubtedly be more expensive too.
I am due to exchange contracts on my apartment. I had a double glazing fitted in September 2007, but did not receive a FENSA certificate or Building Regulation Certificate. My buyer's lender, Leeds Building Society are being a right pain. The Lytchett Matravers solicitor who is on the Leeds Building Society conveyancing panel is recommending indemnity insurance as a solution but Leeds Building Society are requiring a building regulation certificate. Why do Leeds Building Society have a conveyancing panel if they don't accept advice from them?
It is probably the case that Leeds Building Society have referred the matter to their valuer. The reason why Leeds Building Society may not want to accept indemnity insurance is because it does not give them any reassurance that the double glazing was correctly and safely installed. The indemnity insurance merely protects against enforcement action which is very unlikely anyway.
About to purchase house in Lytchett Matravers. I have received an online quote from a licenced conveyancer, which states: "There will be no charge for dealing with the Building Society if you are obtaining a mortgage". I take this to mean that there will be no additional fee if the solicitor is on the Nottingham conveyancing panel. I wanted to make sure it means there will be no additional fees for dealing with the mortgage.
They are simply saying that the cost for acting for the lender is included in the fee being quoted. It is worth you checking that the Lytchett Matravers lawyer is on the Nottingham conveyancing panel.
I have instructed a Lytchett Matravers lawyer having checked that they are on the Co-operative conveyancing panel. Does my lawyer arrange the survey of the property?
Co-operative will need an independent valuation of the property. Your lawyer will not arrange this. Usually Co-operative will appoint their own surveyor to do this, and you will have to pay for it. Remember that this is a valuation for mortgage purposes and not a survey. Your conveyancing practitioner will not organise the survey but they may be able to put you in touch with a local one that they recommend. RICS offers a find a surveyor service (just google it) where you can search for a qualified surveyor by your Lytchett Matravers postcode. As you are getting a mortgage with Co-operative, you could contact them to see if they have a list of approved surveyors in Lytchett Matravers.
I am looking for a ground for flat up to £245,000 and found one close by in Lytchett Matravers I like with amenity areas and railway links in the vicinity, however it only has 61 years unexpired on the lease. I can't really find anything else in Lytchett Matravers for this price, so just wondered if I would be making a mistake purchasing a lease with such few years left?
If you need a home loan the remaining unexpired lease term will likely be a potential deal breaker. Discount the offer by the anticipated lease extension will cost if not already taken into account. If the existing proprietor has owned the premises for at least twenty four months you could request that they start the process of the extension and then assign it to you. You can add 90 years to the existing lease term with a zero ground rent applied. You should consult your conveyancing lawyer concerning this.
I need to retain a conveyancing solicitor for residential conveyancing in Lytchett Matravers. I've chance upon a site which appears to be the perfect solution If it is possible to get all this stuff done via web that would be preferable. Do I need to be concerned? What should out be looking out for?
As usual with these online conveyancers you need to read ALL the small print - did you notice the extra charge for dealing with the mortgage?