I can't travel far from Ovingham. I would like to know the reason why all Ovingham solicitors aren't automatically on all mortgage company panels?
Before the recession most mortgage companies exhibited an attitude to risk which differs from the current day. The Financial Services Authority in 2010 carried out a thematic review into fraud which in summary warned lenders: know the lawyers on your panel. As a result, banks have since looked to extract more information from law firms regarding their processes and the staff who work for them and set certain criteria such as completing a minimum volume of transactions. Hundreds of firms have been excluded from lender panels even though they had 100% healthy disciplinary record, no complaints and zero claims and didn't just 'dabble' in conveyancing. Many firms were never going to satisfy the minimum amount of transactions the lenders insisted on.
We see that you have a search directory identifying solicitors on the Co-operative conveyancing panel. Do firms pay you a commission if I appoint them for our conveyancing in Ovingham?
We are a listing service only for law firms wishing to communicate if they are on the Co-operative conveyancing panel or other lender panels. We do not charge referral fees to any conveyancer that you subsequently appoint for your conveyancing in Ovingham.
We wanted to use a conveyancing solicitor in Ovingham for our home move. Our broker has since notified us that our mortgage company Clydesdale won't deal with them. Why is this not regarded as unfair competition?
A mortgage company will direct that a panel solicitor act for it. You would be expected to bear the cost of this. Try using our database to choose a solicitor to carry conveyancing in Ovingham on the Clydesdale approved list of solicitors.
When it comes to mortgage companies such as Santander, do Ovingham conveyancing practitioners have to pay a fee to be on the conveyancing panel?
We are not aware of any mortgage company fees to register on their panel, although some do charge an administration charge to deal with the processing of the conveyancing panel submission.
Is there a list of Lloyds panel conveyancers in Ovingham on the Building Society Association’s Website?
Unfortunately not yet. There is no such tool on the Council of Mortgage Lenders or Building Society Association sites. Very few banks make their panel listings viewable online. If you are in need of a Ovingham conveyancer on the Lloyds please make the most of our facility.
I'm spending time looking at apartments in Ovingham and I am now considering a potential offer. Is it wise to have my solicitor on ‘stand by’? I am planning to take a mortgage with Leeds Building Society.
You should start obtaining conveyancing quotes from solicitors ASAP. Once you decide who you want to use and once your offer is accepted you can instruct them to work for you and forward their contact information on to the selling agent. As you are obtaining a mortgage with Leeds Building Society, ask your prospective lawyers if they are on the Leeds Building Society conveyancing panel otherwise they can't do the mortgage legal work.
As co-executor for the will of my father I am disposing of a house in Neath but reside in Ovingham. My solicitor (who is 250 miles from mehas requested that I execute a stat dec prior to completion. Can you recommend a conveyancing lawyer in Ovingham to witness this legal document for me?
Technically speaking you are not likely to need to have the documents witnessed by a conveyancing solicitor. Normally any notary public or solicitor will suffice regardless of whether they are located in Ovingham
I've recently bought a leasehold house in Ovingham. Do I have any liability for service charges relating to a period prior to my ownership?
In a situation where the service charge has already been demanded from the previous lessee and they have not paid you would not usually be personally liable for the arrears. However, your landlord may still be able to take action to forfeit the lease. A critical element of leasehold conveyancing for your conveyancer to be sure to have an up to date clear service charge receipt before completion of your purchase. If you have a mortgage this is likely to be a requirement of your lender.
If you purchase part way through an accounting year you may be liable for charges not yet demanded even if they relate to a period prior to your purchase. In such circumstances your conveyancer would normally arrange for the seller to set aside some money to cover their part of the period (usually called a service charge retention).
I acquired a ground floor flat in Ovingham, conveyancing formalities finalised in 2000. Can you give me give me an indication of the likely cost of a lease extension? Comparable properties in Ovingham with over 90 years remaining are worth £190,000. The ground rent is £65 levied per year. The lease ceases on 21st October 2086
With just 61 years remaining on your lease we estimate the price of your lease extension to be between £18,100 and £20,800 as well as plus your own and the landlord's "reasonable" professional fees.
The suggested premium range above a general guide to costs for renewing a lease, but we cannot give you a more accurate figure without more detailed due diligence. Do not use the figures in tribunal or court proceedings. There may be additional concerns that need to be considered and you obviously want to be as accurate as possible in your negotiations. Please do not move forward based on this information before getting professional advice.