My husband and I are planning to purchase a 1 bedroom apartment in Maida Hill with a mortgage. We wish to retain our Maida Hill conveyancer, however the bank advise he's not on their "panel". We have to appoint one of the mortgage company panel solicitors or retain our Maida Hill solicitor as well as pay for one of their panel lawyers to represent them. We consider that this is unjust; are we not able to demand that the lender use our Maida Hill lawyer ?
No, not really. Your mortgage offer is subject to its terms and conditions, one of which will be that lawyers will on the lender’s conveyancing panel. Until recently, most lenders 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. A further alternative is for your Maida Hill conveyancing solicitor to apply to be on the conveyancing panel.
My fiancee and I are purchasing our first house. Our conveyancing practitioner has calledto see if we would like to take out additional conveyancing searches. As novices we in the dark as to what's appropriate for conveyancing in Maida Hill
The number and type of Maida Hill conveyancing searches should be triggered based primarily on the property, the location, the likelihood of any of these risks, your knowledge of the locality and risks, your general approach to risk. What matters is that you adequately appreciate what information the searches could give you. Then you can decide if you consider that you need that search. Should you be unsure, ask your lawyer to guide you.
I am selling my apartment in Maida Hill. Does the property lawyer need to be on the UBS conveyancing panel in order to deal with redeeming my mortgage?
Ordinarily, even if your lawyer is not on the UBS conveyancing panel they can still act for you on your sale. It might be that the lender will not release the original deeds (if applicable and increasingly irrelevant) until after the mortgage is paid off. You should speak to your lawyer directly before you start the process though to ensure that there is no problem as lenders are changing their requirements fairly frequently at the moment.
I am due to exchange contracts on my apartment. I had a double glazing fitted in June 2010, but did not receive a FENSA certificate or Building Regulation Certificate. My purchaser’s lender, Clydesdale are being a right pain. The Maida Hill solicitor who is on the Clydesdale conveyancing panel is happy to accept ‘lack of building regulation’ insurance but Clydesdale are requiring a building regulation certificate. Why do Clydesdale have a conveyancing panel if they don't accept advice from them?
It is probably the case that Clydesdale have referred the matter to their valuer. The reason why Clydesdale 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.
Planning on purchasing a apartment in Maida Hill. 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 Lloyds 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 Maida Hill conveyancing practitioner is on the Lloyds conveyancing panel.
I've read lots of mortgage guides, I note that they all recommend that you should get your house surveyed prior to buying it. When I asked my local Maida Hill solicitor - who is on the Skipton conveyancing panel - on this she said they don't do this and I need to contract an independent surveyor. is that correct?
Skipton will need an independent valuation of the property. Your lawyer will not arrange this. Usually Skipton 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 property lawyer 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 Maida Hill postcode. As you are getting a mortgage with Skipton, you could contact them to see if they have a list of approved surveyors in Maida Hill.
Just had an offer accepted on a new build flat in Maida Hill. Conveyancing is daunting at the best of times but I have never purchased a new build flat before. Can you give me some examples of some of the questions asked in new build legal work.
Set out below is a sample of a few leasehold new build questions that you may expect your new-build leasehold conveyancing in Maida Hill
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Investor purchasers must be able to freely grant unsecured tenancies at market rents without requiring any consents. Please supply a car parking plan. The Lease must contain a provision on behalf of the Vendor to pay the service charges in respect of unoccupied units in order to ensure that all services can be provided. Has the Lease plan been approved by the Land Registry and if not when will they be lodged for this purpose? Will the freehold then be transferred for a nominal consideration (not exceeding £100) to the Management Company?
Over the last few months I have been searching for a leasehold apartment up to £235,500 and found one near me in Maida Hill I like with a park and transport links nearby, however it only has 49 remaining years left on the lease. There is not much else in Maida Hill for this price, so just wondered if I would be making a mistake purchasing a lease with such few years left?
If you require a home loan the shortness of the lease will likely be problematic. Reduce the price by the anticipated lease extension will cost if not already taken into account. If the current owner has owned the property for at least 2 years you may ask them to start the process of the extension and then assign it to you. An additional ninety years can be extended on to the existing lease with a zero ground rent applied. You should speak to your conveyancing lawyer regarding this.