Me and my fiance are purchasing a 3 bedroom apartment in Marston Moretaine with a mortgage. We like our Marston Moretaine lawyer, however the bank advise she’s not on their "panel". It appears that we have little option but to instruct one of the mortgage company panel conveyancing practices or continue with our Marston Moretaine property lawyer as well as pay for one of their panel lawyers to represent them. We regard this is inequitable; are we not able to demand that the mortgage company use our Marston Moretaine property 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. Another option that might be available is for your Marston Moretaine conveyancing lawyer to apply to be on the conveyancing panel.
When scouring moneysavingexpert.com for a recommended lawyer in Marston Moretaine, most advise that I should instruct a CQS accredited solicitor. What is CQS?
The Conveyancing Quality Scheme (CQS) provides a kitemark for residential conveyancing practices issued by the Law Society. Membership achievement establishes a level of credibility for member firms with stakeholders (regulators, lenders, insurers and consumers) based upon: * the integrity of the senior responsible officer and other key conveyancing staff * the firm's adherence to good practice management standards * adherence to prudent and efficient conveyancing processes via the scheme protocol Membership covers many organisations who conduct conveyancing in Marston Moretaine.
I note that there are debates on Chancel Insurance on online forums. Do I require this when purchasing a residence in Marston Moretaine? or I am told that there is an ancient law that means some homeowners residing in a parish church boundary may be liable to contribute towards repairs to the chancel in proximity to the church. Is this appropriate for conveyancing in Marston Moretaine?
Unless a previous purchase of the premises completed after 12 October 2013 you may take it that lawyers carrying out conveyancing in Marston Moretaine to remain encouraging a chancel search and or insurance against a claim.
I'm buying my first flat in Marston Moretaine with a loan from Norwich and Peterborough Building Society. The sellers would not reduce the price so I negotiated five thousand pounds worth of fixtures and fittings instead. The sale representative told me not reveal to my conveyancer about this side-deal as it could affect my mortgage with the lender. Do I keep my lawyer in the dark?.
All lenders require a Disclosure of Incentives Form from the builder 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'm converting the mortgage on my current house to a buy to let loan with Alliance & Leicester and intend to use the remaining equity as a deposit on a second property. The area we are looking at is Marston Moretaine. Will your lawyers be able to act for both sets of mortgage companies and tie in the two deals?
Do use our search tool on this site to be sure that the solicitors are approved by both lenders. On the basis that they are the lawyer should be able to tie up the two transactions but you should talk with you conveyancer and specify your expectations and needs.
I am employed by a long established estate agent office in Marston Moretaine where we have witnessed a few flat sales jeopardised due to leases having less than 80 years remaining. I have been given conflicting advice from local Marston Moretaine conveyancing solicitors. Please can you shed some light as to whether the vendor of a flat can instigate the lease extension process for the buyer?
As long as the seller has owned the lease for at least 2 years it is possible, to serve a Section 42 notice to start the lease extension process and assign the benefit of the notice to the purchaser. This means that the proposed purchaser need not have to sit tight for 2 years to extend their lease. Both sets of lawyers will agree to form of assignment. The assignment has to be done prior to, or at the same time as completion of the disposal of the property.
An alternative approach is to agree the lease extension with the freeholder either before or after the sale. If you are informally negotiating there are no rules and so you cannot insist on the landlord agreeing to grant an extension or transferring the benefit of an agreement to the buyer.
I am the registered owner of a leasehold flat in Marston Moretaine, conveyancing having been completed half a dozen years ago. How much will my lease extension cost? Corresponding properties in Marston Moretaine with over 90 years remaining are worth £201,000. The ground rent is £45 invoiced annually. The lease runs out on 21st October 2090
With just 65 years remaining on your lease we estimate the premium for your lease extension to range between £13,300 and £15,400 as well as legals.
The suggested premium range that we have given is a general guide to costs for renewing a lease, but we cannot give you the actual costs without more detailed due diligence. You should not use the figures in a Notice of Claim or as an informal offer. There may be additional issues that need to be taken into account and clearly you should be as accurate as possible in your negotiations. Please do not take any other action based on this information before getting professional advice.