I have just been advised by my estate agent that my New Forest the law firm I have appointed is not on the bank Solicitor panel. What can I do to check?
You need to contact your New Forest conveyancer. It is reasonable to expect your lawyer to notify you of the situation. If they are not on the panel they could put your in touch with solicitors on the conveyancing panel for your bank.
We note that you have a post code search directory listing solicitors on the RBS conveyancing panel. Do companies pay you a referral fee if I instruct them for our own conveyancing in New Forest?
We are a listing service only for law firms wishing to communicate if they are on the RBS conveyancing panel or other lender panels. We do not charge referral fees to any conveyancer that you subsequently appoint for your conveyancing in New Forest.
We are planning to move property in February. Does my conveyancing solicitor update the removal company on the day of completion. As an aside, can you put forward a removal company in New Forest. Conveyancing lawyer was found before I stumbled across your page.
On the day of completion you can collect the keys from your property agent however this should only occur once the previous owners solicitors inform the agent that the monies to complete are in and the keys can be collected. After that you can inform the removal men that you are ready to move in. As a matter of policy we do not recommend a specific removal company but can help you choose a conveyancing in New Forest or a firm with expertise in conveyancing in New Forest.
is it true that all New Forest conveyancing solicitors on the Clydesdale conveyancing panel are overseen by the Solicitors Regulatory Authority?
As solicitors, in order to be on the Clydesdale approved list of solicitors they would need to be regulated by the Solicitors Regulatory Authority. Many lenders do list licenced conveyancers on their panel and in such a situation the firms would be governed by the CLC.
Planning on purchasing a maisonette in New Forest. 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 Aldermore 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 New Forest property lawyer is on the Aldermore conveyancing panel.
It has been three months following my purchase conveyancing in New Forest completed. I have checked the Land Registry site which shows that I paid £150,000 when infact I paid £215,000. Why the discrepancy?
The price paid figure is taken from the application to register the purchase. It is the figure included in the Transfer (the legal deed which transfers the premises from one person to the other) and referred to as the 'consideration' or purchase price. You can report an error in the price paid figure using the LR online form. In most cases errors result from typos so at first glance the figure. Do report it so they can double check and advise.
I am purchasing my first flat in New Forest benefiting from help to buy. The developers refused to budge the price so I negotiated 6k of additionals instead. The sale representative suggested that I not to tell my solicitor about this extras as it will jeopardize my loan with Nationwide Building Society. Is this normal?.
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.
I am looking at a two flats in New Forest both have about forty five years unexpired on the lease term. should I be concerned?
There is no doubt about it. A leasehold flat in New Forest is a wasting asset as a result of the reducing lease term. The closer the lease gets to zero years unexpired, the more it reduces the salability of the property. The majority of buyers and banks, leases with under 75 years become less and less attractive. On a more positive note, leaseholders can extend their leases by serving a Section 42 Notice. One stipulation is that they must have owned the property for two years (unlike a Section 13 notice for purchasing the freehold, when leaseholders can participate from day one of ownership). When successful, they will have the right to an extension of 90 years to the current term and ground rent is effectively reduced to zero. Before moving forward with a purchase of a property with a short lease term remaining you should talk to a solicitor specialising in lease extensions and leasehold enfranchisement. We are are happy to put you in touch with New Forest conveyancing experts who will explain the options available to you during an initial telephone conversation free of charge. More often than not it is possible to negotiate informally with the freeholder to extend the lease. You may find he or she is happy to negotiate informally and willing to consider your offer straight off, without having to involve anyone else. This will save you time and money and it could help you reach a lower price on the lease. You need to ensure that any new terms represent good long-term value compared with the standard benefits of the Section 42 Notice and that onerous clauses are not inserted into any redrafting of the lease.
I am the registered owner of a 1st floor flat in New Forest, conveyancing having been completed half a dozen 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 flats in New Forest with over 90 years remaining are worth £201,000. The ground rent is £45 invoiced every year. The lease ceases on 21st October 2089
With just 65 years left to run we estimate the price of your lease extension to be between £13,300 and £15,400 as well as professional fees.
The suggested premium range that we have given is a general guide to costs for extending a lease, but we are not able to provide a more accurate figure without more comprehensive investigations. You should not use this information in a Notice of Claim or as an informal offer. There may be additional concerns that need to be considered and clearly you should be as accurate as possible in your negotiations. Please do not take any other action based on this information without first seeking the advice of a professional.