In the event thatI were to purchase a freehold homein Penkridge for cash and have no survey and no local authority searches how much would I expect to to save on my conveyancing in Penkridge?
The only saving you would achieve is the disbursement for searches. Your solicitor is required to do the vast majority of work - money laundering, liaising with the vendors lawyer, stamp duty submission, register the property etc. You might save a bit for them not needing to register a mortgage however it will not be significant.
Are all Penkridge Conveyancing Quality Solicitors on the Lloyds conveyancing list of approved solicitors?
It is true that some banks and building societies now use the accreditation scheme as the kick off point for Panel approval such as HSBC and Santander. CQS membership however is no guarantee to lender panel acceptance. Nevertheless,the Council of Mortgage Lenders have indicated that it is likely to become a pre-requisite for firms wishing to remain on their panels.
We were going to get a OIP from Coventry BS this week so we can work out what to offer on a property we like as otherwise we only have online calculators to go by (which aren't taking into account credit checks etc). Do Coventry BS recommend any Penkridge solicitors on the Coventry BS conveyancing panel, or is it better to go independently?
You will need to appoint Penkridge solicitors independently although you'll need to choose one on the Coventry BS conveyancing panel. The solicitor represents both you and Coventry BS through the process.
The formalities of my purchase has taken place for my property in Penkridge. Conveyancing was a necessary evil but I would like to complain about the lender. Who do I contact should I wish to lodge a complaint?
Most lenders have complaints procedures. Your first point of contact should be one of the lender’s branches or the Customer Services Department at head office. In most cases 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.
I am buying my first flat in Penkridge with the aid of help to buy. The builders refused to reduce the price so I negotiated 6k of fixtures and fittings instead. The sale representative suggested that I not reveal to my lawyer about this side-deal as it will jeopardize my mortgage with HSBC Bank. Is this normal?.
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've recently found out that there is a flying freehold issue on a property I put an offer in a fortnight ago in what was supposed to be a straight forward, chain free conveyancing. Penkridge is the location of the property. What do you suggest?
Flying freeholds in Penkridge are rare but are more likely to exist in relation to terraced houses. Even where you use a solicitor outside Penkridge you would need to get your solicitor to go through the deeds very carefully. Your lender may require your conveyancing solicitor to take out an indemnity policy. Some of the more diligent conveyancing solicitors in Penkridge may ascertain that this is not enough and that the deeds be re-written to give you the most up to date legal protection. If so, the next door neighbour also had to sign up to the revised deeds.It is possible that your lender will not accept the situation so the sooner you find out the better. You should also check with your insurance broker as to whether they will insure a flying freehold property.
We expect to complete the sale of our £225,000 garden flat in Penkridge in 5 days. The managing agents has quoted £408 for Landlord’s certificate, insurance certificate and previous years statements of service charge. Is it legal for a freeholder to charge exorbitant fees for a leasehold conveyance in Penkridge?
Penkridge conveyancing on leasehold apartments usually involves the buyer’s conveyancer submitting questions for the landlord to answer. Although the landlord is not legally bound to address these enquiries the majority will be content to do so. They are entitled to invoice a reasonable charge for responding to questions or supplying documentation. There is no upper cap for such fees. The average costs for the information that you are referring to is £350, in some situations it exceeds £800. The management information fee invoiced by the landlord must be accompanied by a synopsis of rights and obligations in respect of administration charges, without which the invoice is technically not due. In reality you have little option but to pay whatever is requested of you if you want to sell the property.
I bought a garden flat in Penkridge, conveyancing was carried out May 2004. Can you shed any light on how much the price could be for a 90 year extension to my lease? Corresponding flats in Penkridge with over 90 years remaining are worth £181,000. The average or mid-range amount of ground rent is £55 charged once a year. The lease runs out on 21st October 2077
With only 51 years left to run we estimate the price of your lease extension to span between £30,400 and £35,200 as well as legals.
The suggested premium range above a general guide to costs for extending a lease, but we are not able to supply the actual costs in the absence of detailed investigations. Do not use the figures in a Notice of Claim or as an informal offer. There may be other issues that need to be considered and clearly you want to be as accurate as possible in your negotiations. Neither should you take any other action based on this information before getting professional advice.
What are my options where I am not happy with the solicitor who did our conveyancing in Penkridge?
Occasionally the level of service you receive is not as you expect, and is is a fact of life that every so often things do go wrong. Nevertheless there is recourse where you were dissatisfied with your conveyancing in Penkridge. This varies from trying to resolve matters directly with them, through to reporting a property lawyer to their governing body. If things still aren’t sorted out you may consider getting in touch with the Legal Ombudsman.