My wife and I are purchasing a 1 bedroom apartment in Noak Hill with a mortgage. We like our Noak Hill conveyancer, but the bank advise she’s not on their "panel". We have to appoint one of the mortgage company panel firms or keep our Noak Hill conveyancing practitioner as well as pay for one of their panel ones to represent them. We regard this is unjust; is there anything we can do?
No, not really. Your mortgage offer is subject to its terms and conditions, one of which will be that lawyers will on the bank’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 Noak Hill conveyancing lawyer to apply to be on the conveyancing panel.
We are looking to buy a flat and need a conveyancing solicitor in Noak Hill who is on the Aldermore conveyancing panel. Could you point me in the right direction as regards a solicitor?
Our service is limited to being a directory service for firms who wish to be listed as being on the approved conveyancing panel for Aldermore . We don't recommend any particular firms conducting conveyancing in Noak Hill.
I am purchasing a new build house in Noak Hill with a loan from Birmingham Midshires. The sellers refused to move on the price so I negotiated five thousand pounds worth of extras instead. The property agent suggested that I not to tell my solicitor about this side-deal as it would jeopardize my mortgage with the bank. 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 have been advised by a few estate agents in Noak Hill to select a solicitor on your site. What’s the financial inducement for Estate Agents to offer your services over and above another?
We refuse to give any referral fee for sending work our way. We found it would be just too difficult to pay a commission because members of the public would think, ‘How come the agent getting a kickback? Why aren’t I getting any benefit too?’ We would prefer to grow our business on genuine recommendations.
Our conveyancer has advised that he intends to complete and exchange simultaneously on the sale of our £200,000 flat in Noak Hill next week. The managing agents has quoted £360 for Landlord’s certificate, building insurance schedule and 3 years statements of service charge. Is it legal for a freeholder to charge an administration fee for a flat conveyance in Noak Hill?
Noak Hill conveyancing on leasehold apartments normally necessitates the buyer’s solicitor submitting enquiries for the landlord to address. Although the landlord is not legally bound to answer such questions most will be willing to do so. They are entitled to levy a reasonable administration fee for responding to questions or supplying documentation. There is no upper cap for such fees. The average costs for the paperwork that you are referring to is £350, in some transactions it is in excess of £800. The management information fee required by the landlord must be accompanied by a summary of entitlements and obligations in respect of administration fees, otherwise the invoice is not strictly payable. In reality you have little choice but to pay whatever is requested of you if you want to complete the sale of your home.
I have tried to negotiate informally with with my landlord to extend my lease without any joy. Can one apply to the Leasehold Valuation Tribunal? Can you recommend a Noak Hill conveyancing firm to help?
You certainly can. We can put you in touch with a Noak Hill conveyancing firm who can help.
An example of a Lease Extension case for a Noak Hill flat is 37 Lodge Court High Street in November 2013. the decision of the LVT was that the premium to be paid for the new lease was £25,559 This case affected 1 flat. The number of years remaining on the existing lease(s) was 57.5 years.
How easy is it to change a solicitor as I need to find a Noak Hill based firm who is on the mortgage company conveyancing panel. Is it advisable to appoint a new law firm?
If you haven't yet appointed a solicitor to do anything for you and at this stage simply received quotes, you're perfectly free to choose a different solicitor to carry out your work for you. The best way is to get recommendations from friends or family who have actually used the solicitor or conveyancer in Noak Hill that you're thinking of instructing.