We are hoping to buy a 3 bedroom flat in Portslade with a loan from The Royal Bank of Scotland.We like our Portslade conveyancing practitioner but The Royal Bank of Scotland says he's not on their "panel". We have to appoint a The Royal Bank of Scotland panel firm or retain our high street solicitor and pay for a The Royal Bank of Scotland panel lawyer to act for them. We feel as though this is unjust; is there anything we can do?
No, not really. The loan offered to you contains various provisions, one of which will be that solicitors needs to be on the The Royal Bank of Scotland conveyancing panel. Until recently, most mortgage companies 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. A further alternative is for your solicitors to apply to be on the conveyancing panel for The Royal Bank of Scotland
Should our lawyer be raising enquiries about flooding as part of the conveyancing in Portslade.
Flooding is a growing risk for conveyancers dealing with homes in Portslade. There are those who buy a property in Portslade, completely expectant that at some time, it may suffer from flooding. However, aside from the physical damage, where a house is at risk of flooding, it may be difficult to obtain a mortgage, satisfactory insurance cover, or dispose of the property. Steps can be carried out as part of the conveyancing process to forewarn the buyer.
Solicitors are not qualified to give advice on flood risk, however there are a number of searches that can be initiated by the purchaser or on a buyer’s behalf which should give them a better understanding of the risks in Portslade. The conventional set of completed inquiry forms supplied to a buyer’s solicitor (where the Conveyancing Protocol is adopted) includes a standard question of the seller to find out if the property has suffered from flooding. If flooding has previously occurred which is not disclosed by the owner, then a purchaser may issue a legal claim for losses as a result of such an incorrect reply. The purchaser’s lawyers may also commission an enviro report. This should indicate whether there is a recorded flood risk. If so, further investigations should be initiated.
My wife and I have a 4 bedroom Victorian house in Portslade. Conveyancing practitioner acted for me and HSBC Bank. I happened to do a free search for it on the Land Registry database and I saw two entries: the first freehold, another for leasehold with the matching address. I'd like to know for sure, how can I find out??
You should read the Freehold register you have again and check the Charges Register for mention of a lease. The best way to be sure that you are also the registered owner of the leasehold and freehold title as well is to check (£3). It is not completely unheard of in Portslade and other locations in the country and poses no real issues for owners other than when they sell they have to account for both freehold and leasehold interests when dealing with buyers. You can also check the position with your conveyancing lawyer who conducted the purchase.
I'm purchasing a new build house in Portslade benefiting from help to buy. The sellers would not reduce the amount so I negotiated five thousand pounds worth of additionals instead. The sale representative suggested that I not inform my lawyer about the side-deal as it will impact my loan with the bank. Should I keep quiet?.
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.
What makes your site different to alternative online quote calculators when it comes to conveyancing in Portslade?
At this site secure a fixed fee costs illustration via a Solicitor or Licensed Conveyancer that has a full understanding of the nuances for your conveyancing in Portslade. Unlike many estate agents and brokerage sites we do not have kick-back arrangements with solicitors. A large number of agents and online brokers 'recommend' the firm paying the most per referral, not the best value conveyancing in Portslade
All being well we will complete the disposal of our £225,000 maisonette in Portslade in just under a week. The landlords agents has quoted £396 for Certificate of Compliance, insurance certificate and 3 years statements of service charge. Is it legal for a freeholder to charge exorbitant fees for a leasehold conveyance in Portslade?
Portslade conveyancing on leasehold apartments often necessitates the buyer’s conveyancer sending enquiries for the landlord to answer. Although the landlord is not legally bound to respond to such questions most will be willing to do so. They may levy a reasonable charge for responding to questions or supplying documentation. There is no set fee. The average costs for the paperwork that you are referring to is over three hundred pounds, in some cases it exceeds £800. The management information fee invoiced by the landlord must be sent together with a summary of rights and obligations in respect of administration charges, without which the charge is technically not due. Reality however dictates that you have no option but to pay whatever is demanded should you wish to complete the sale of your home.
I inherited a basement flat in Portslade, conveyancing having been completed in 2009. Can you work out an approximate cost of a lease extension? Equivalent flats in Portslade with over 90 years remaining are worth £191,000. The ground rent is £55 invoiced every year. The lease ends on 21st October 2078
With just 53 years left to run the likely cost is going to range between £27,600 and £31,800 plus legals.
The suggested premium range above a general guide to costs for extending a lease, but we cannot give you a more accurate figure without more comprehensive due diligence. Do not use this information in a Notice of Claim or as an informal offer. There are no doubt other issues that need to be taken into account and clearly you want to be as accurate as possible in your negotiations. Neither should you take any other action placing reliance on this information before seeking the advice of a professional.