I am nearing exchange of contracts for my home in Retford and the estate agent has just text me to say that the buyers are switching law firm. I am told that this is due to the fact that the mortgage company will only work with solicitors on their conveyancing panel. Why would a big named lender only work with specific law firms rather the firm that they want to select to handle their conveyancing in Retford ?
UK lenders have always had panels of law firms they are willing to work with, but in the last few years big names such as Nationwide, have considered and reduced their conveyancing panel– in some cases removing conveyancing firms who have represented them for more than 25 years.
Lenders point to the increase in fraud as the reason for the pruning – criteria have been stiffened as a smaller panel is easier to maintain. No lender will say how many solicitors have been dropped, claiming the information is commercially sensitive, but the Law Society claims that it is being contacted daily by practices that have been removed from panels. Some do not even realise they have been dropped until contacted by a borrower who has instructed them as might be the situation in your buyers' case. Your buyers are not going to have any sway in the decision.
AssumingI was to buy a freehold housein Retford mortgage fee and have no survey and no conveyancing searches how much could I expect to have to pay for conveyancing in Retford?
The sole reduction in fees you would achieve is the Retford conveyancing searches. A solicitor still be obliged to do everything else - money laundering, liaising with the sellers conveyancing practitioner, stamp duty submission, register the ownership etc. A slight saving might be made by not having to register a mortgage however it won't be significant.
I'm purchasing a new build house in Retford benefiting from help to buy. The sellers would not move on the amount so I negotiated five thousand pounds worth of additionals instead. The house builders rep told me not reveal to my conveyancer about this deal as it could affect my loan with Barnsley Building Society. Is this normal?.
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.
I am looking to sell my property. My past solicitors closed down. I am in need of a recommendation of a conveyancing firm. I happen to live in Retford if that makes a difference.
You should use our search tool to help you choose a solicitor for your conveyancing in Retford. We have connected thousands of home buyers and sellers with regulated solicitors to ensure that the legalities of their house move goes with a minimum of fuss.
Should I choose a Retford conveyancing practitioner who is local to the property I am hoping to buy? I have an old university friend who can perform the legal work but they are based 300kilometers away.
The benefit of a high street Retford conveyancing firm is that you can drop in to sign documents, present your ID and pester them if necessary. Having local Retford know how is a plus. However it's more important to get someone that will pull out all the stops for you. If you know people who instructed your friend and on the whole were happy that must outweigh using an unfamiliar Retford conveyancing lawyer solely due to them being round the corner.
I only have Sixty One years unexpired on my lease in Retford. I need to get lease extension but my freeholder is can not be found. What are my options?
On the basis that you meet the appropriate requirements, under the Leasehold Reform, Housing and Urban Development Act 1993 you can apply to the County Court for an order to dispense with the service of the initial notice. This will mean that your lease can be extended by the Court. However, you will be required to demonstrate that you or your lawyers have made all reasonable attempts to locate the lessor. For most situations an enquiry agent would be helpful to try and locate and prepare an expert document which can be accepted by the court as proof that the landlord can not be located. It is advisable to get professional help from a property lawyer both on proving the landlord’s disappearance and the application to the County Court covering Retford.
I acquired a 1st floor flat in Retford, conveyancing having been completed 3 years ago. How much will my lease extension cost? Similar properties in Retford with a long lease are worth £191,000. The ground rent is £55 levied per year. The lease finishes on 21st October 2079
With 54 years remaining on your lease we estimate the price of your lease extension to range between £32,300 and £37,400 as well as costs.
The suggested premium range above a general guide to costs for renewing a lease, but we are not able to advice on a more accurate figure without more comprehensive due diligence. You should not use this information in a Notice of Claim or as an informal offer. There may be additional concerns that need to be considered and clearly you should be as accurate as possible in your negotiations. You should not take any other action based on this information before getting professional advice.