Unfortunately I am unable to travel far from Ravenglass. I would like to know the reason why all Ravenglass conveyancing practitioners aren't automatically on all mortgage company panels?
Even though it may seem unfair for lenders to restrict who can represent them, from the public’s or lawyer’s perspective, the the contrary view is that banks are increasingly anxious and regard it essential to protect them from illegal activities. As a consequence of this concern banks have restricted their panel of approved conveyancing lawyers to a manageable size.
My husband and I are purchasing a new build flat in Ravenglass and my solicitor is advising me that she is duty bound to the lender to reveal incentives from the builder. The Estate Agents are hassling me to sign contracts and I have no desire to delay matters. Is my lawyer right?
You should not exchange unless you have been advised to do so by your property lawyer. A precondition to being on a bank panel is to comply with the UK Finance Lenders’ Handbook conditions. The CML Conveyancing Handbook requires that your lawyer have the appropriate Disclosure of Incentive form completed by the developer and accepted by your lender.
My partner and I are selling our house in Ravenglass and the buyers lawyers are claiming that there is a possibility that the property was constructed on contaminated land. A high street Ravenglass conveyancer would know that there is no such problem. It does beg the question why the buyers instructed a nationwide conveyancing outfit as opposed to a conveyancing solicitor in Ravenglass. We have lived in Ravenglass for 5 years we know of no issue. Do we contact our local Authority to seek confirmation need.
It would appear that you have a conveyancing firm currently acting for you. What do they say? You need to check with your lawyer before you do anything. It is very possible that once the local authority has been informed of a potential issue it cannot be insured against (a bit like being diagnosed with a serious illness and then taking out life insurance to cover that same illness)
I'm refinancing my current house to a BTL loan with Chelsea Building Society and intend to use the remaining equity as a down payment on a second property. The neighborhood we are interested in is Ravenglass. Will your solicitors be able to act for both sets of banks and tie in the conveyances?
Do use our search tool on this site to check that the solicitors are approved by both lenders. On the basis that they are your solicitor will be able to connect the two transactions but you should have a chat with you lawyer and make apparent your expectations and requirements.
I work for a long established estate agency in Ravenglass where we have experienced a number of flat sales derailed as a result of leases having less than 80 years remaining. I have received contradictory information from local Ravenglass conveyancing solicitors. Could you confirm whether the seller of a flat can initiate the lease extension formalities for the buyer?
As long as the seller has been the owner for at least 2 years it is possible, to serve a Section 42 notice to kick-start the lease extension process and assign the benefit of the notice to the purchaser. The benefit of this is that the proposed purchaser can avoid having to wait 2 years for a lease extension. Both sets of lawyers will agree to form of assignment. The assignment needs to be completed prior to, or simultaneously with completion of the sale.
Alternatively, it may be possible to agree the lease extension with the freeholder either before or after the sale. If you are informally negotiating there are no rules and so you cannot insist on the landlord agreeing to grant an extension or transferring the benefit of an agreement to the purchaser.
I purchased a 2 bed flat in Ravenglass, conveyancing having been completed November 2002. 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? Equivalent properties in Ravenglass with a long lease are worth £179,000. The ground rent is £65 yearly. The lease runs out on 21st October 2083
You have 57 years left to run we estimate the price of your lease extension to range between £26,600 and £30,800 plus plus your own and the landlord's "reasonable" professional fees.
The figure above a general guide to costs for renewing a lease, but we are not able to supply the actual costs without more comprehensive investigations. Do not use the figures in tribunal or court proceedings. There are no doubt additional concerns that need to be taken into account and clearly you should be as accurate as possible in your negotiations. You should not move forward placing reliance on this information before seeking the advice of a professional.
When it comes to my conveyancing in Ravenglass should I be charged VAT on the following: (1) Land reg fee on purchase (2) Pre - completion search fee (3) SDLT E submission on purchase (4) Bank TT fee
(1) Land reg fee on purchase - No (2) Pre - completion search fees -No, (such conveyancing searches are HMLR ones and means £4 and possibly £2 bankruptcy per name on your mortgage) (3) SDLT E submission on your purchase - There is no VAT on Stamp Duty. However if the firm is charging a stamp duty e-submission fee as part of their services - some Ravenglass conveyancers do - that will incur VAT(4) Bank transfer fee - Yes it is for the lawyer's time in submitting the funds this way.