I am not well enough to travel far from Otford. What is the rationale as to why all Otford solicitors aren't automatically on all lender panels?
Lenders highlight the fact that solicitor-led fraud is considered to be responsible for millions of pounds of fraud every year.The removal of law firms off of lender panels started with the rise in mortgage fraud, which prompted a thematic review by the FSA in 2011. Its conclusions included recommendations for lending institutions to review their conveyancing panels, which triggered a major policy change in the sector. It resulted in mortgage companies pruning a number of firms from their panel of approved conveyancers .
My wife and I are about to exchange on the purchase of a house in Otford but as a result of wreckage from the recent storms I have was able negotiate recompense from the vendor in the sum of six thousand pounds by way of a deduction in the price. I had intended this to be dealt with as part of the conveyancing process but Santander are not allowing this. Why were they notified?
Your conveyancing practitioner that is on a Santander approved list is duty bound to advise Santander of any amendments to the purchase price. If you prohibit your conveyancer to notify the price change to Santander then they would have to discontinue acting for you. In addition, Santander and you would have to appoint a new conveyancer for your conveyancing in Otford.
We expect to receive a OIP from Bank of Ireland this week so we know how much we could potentially offer as otherwise we are dependent on web based calculators (which aren't taking into account credit checks etc). Do Bank of Ireland recommend any Otford solicitors on the Bank of Ireland conveyancing panel, or is it better to find our own lawyer?
You will need to appoint Otford solicitors independently although you'll need to choose one on the Bank of Ireland conveyancing panel. The solicitor represents both you and Bank of Ireland through the process.
Completion of my remortgage has taken place for my property in Otford. Conveyancing was a necessary evil but I feel I should register my dissatisfaction about the lender. How do I make a complaint?
Most banks and building societies have complaints procedures. Your first point of contact should be one of the lender’s branches or the Customer Services Team at head office. Ordinarily complaints to a lender are sorted out effectively and efficiently. However if you are not satisfied that the matter is not resolved you can write to Financial Ombudsman Service, South Quay Plaza, 183 Marsh Wall, London E14 9SR with full details of your complaint.
After weeks of negotiation I have agreed a price on a house in Otford. My mortgage broker recommended their conveyancers. I paid an upfront payment of £175. Shortly after, the conveyancing practitioner contacted me sheepishly admitting that they were not on the Skipton conveyancing panel. Am I right in thinking that I should be due a refund?
You should be able to recover this from the law firm if they were not on the Skipton panel. They should have asked at the outset which lender you were obtaining a mortgage with. An important lesson to readers of this site is to check that the lawyers are on the appropriate lender panel.
I'm purchasing my first flat in Otford with the aid of help to buy. The sellers refused to budge the amount so I negotiated five thousand pounds worth of fixtures and fittings instead. The house builders rep advised me not disclose to my conveyancer about this side-deal as it would put at risk my mortgage with the bank. Should I keep quiet?.
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.
What tools are available to search for a Otford law firm on the Birmingham Midshires conveyancing panel? I drive a motor bike and am willing to travel upto 10miles to meet the solicitor.
You can use the search on this website. Please choose the lender and your location and you will see a number of Otford conveyancing lawyers locally. We have listed some Otford conveyancing firms at the bottom of this page and you can ring them to check if they are on the Birmingham Midshires panel
My fiance and I may need to rent out our Otford garden flat for a while due to taking a sabbatical. We instructed a Otford conveyancing firm in 2002 but they have since shut and we did not think at the time seek any guidance as to whether the lease permits subletting. How do we find out?
Notwithstanding that your last Otford conveyancing lawyer is not available you can review your lease to check if you are permitted to let out the premises. The accepted inference is that if the lease is silent, subletting is permitted. Quite often there is a prerequisite that you must seek consent from your landlord or some other party in advance of subletting. This means you not allowed to sublet without first obtaining permission. Such consent should not be unreasonably refused ore delayed. If the lease does not allow you to sublet you will need to ask your landlord if they are willing to waive this restriction.
I inherited a 2 bed flat in Otford, conveyancing formalities finalised 5 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? Similar flats in Otford with a long lease are worth £201,000. The ground rent is £45 invoiced annually. The lease expires on 21st October 2089
With 64 years left to run we estimate the premium for your lease extension to range between £14,300 and £16,400 as well as legals.
The figure above a general guide to costs for renewing a lease, but we are not able to advice on a more accurate figure without more detailed investigations. You should not use this information in a Notice of Claim or as an informal offer. There are no doubt other concerns that need to be considered and clearly you want to be as accurate as possible in your negotiations. You should not move forward based on this information before getting professional advice.