I am six weeks into the sale of my apartment in Ruddington and the estate agent has just called to advise that the buyers are appointing a new solicitor. The reason given is that the mortgage company will only engage with solicitors on their approved list. Why would a big named mortgage company only engage with specific solicitors rather the firm that they want to choose to handle their conveyancing in Ruddington ?
Lenders have always had an approved set of law firms they are content to work with, but in the past few years big names such as Santander, have reviewed and reduced their conveyancing panel– in some cases removing conveyancing firms who have acted for them for more than 15 years.
Lenders justify this action to a rise in fraud by way of justification for the pruning – criteria have been tightened as a smaller panel is easier to keep an eye on. No lender will say how many solicitors have been dropped, claiming the information is commercially sensitive, but the Law Society says it is hearing daily from firms that have been removed from panels. Some are unaware that they have been dropped until contacted by a borrower who has instructed them as might be the situation in your buyers' case. Your purchasers are not going to have any impact on this.
Having sold my house in Ruddington last May but our buyer keeps calling me complaining that their solicitor needs to hear from mine. What should have happened now that I have sold?
After completion of your disposal your lawyer is duty bound to send the transfer deeds and all of the paperwork to the purchaser's solicitors. If applicable, your conveyancer must also send confirmation that the legal charge in favour of the lender has been repaid to the purchasers lawyers. There is unlikely to be post completion formalities unique to conveyancing in Ruddington.
Do the Building Society Association intend to launch a searchable register to to identify law firms on the Darlington Building Society conveyancing panel for instance in Ruddington?
We are not aware of any plans on the part of the BSA to promote such a register.
I have recentlybeen informed that Wolstenholmes have been shut down. They carried out my conveyancing in Ruddington for a purchase of a freehold house 18 months ago. How can I establish that my home is registered correctly in the name of the previous owner?
The quickest method to check if the premises is in your name, you can carry out a search of the land registry (£3.00). You can either do this yourself or ask a law firm to do this for you. If you are not registered you can seek help from one of a number of Ruddington conveyancing specialists.
I am buying a new build house in Ruddington benefiting from help to buy. The builders would not reduce the price so I negotiated five thousand pounds worth of fixtures and fittings instead. The house builders rep advised me not reveal to my solicitor about the deal as it will jeopardize my mortgage with Birmingham Midshires. Should I keep quiet?.
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.
There are only 72 years unexpired on my flat in Ruddington. I am keen to get lease extension but my landlord is can not be found. What are my options?
If 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 magistrate. However, you will be required to demonstrate that you have done all that could be expected to track down the landlord. On the whole an enquiry agent would be helpful to carry out a search and prepare a report to be accepted by the court as evidence that the freeholder can not be located. It is advisable to get professional help from a conveyancer in relation to proving the landlord’s disappearance and the application to the County Court overseeing Ruddington.
I am the registered owner of a 2 bed flat in Ruddington, conveyancing having been completed 8 years ago. Can you let me have an estimated range of the fair premium for a lease extension? Equivalent properties in Ruddington with over 90 years remaining are worth £265,000. The ground rent is £50 invoiced every year. The lease ceases on 21st October 2102
With only 76 years remaining on your lease the likely cost is going to be between £8,600 and £9,800 plus professional fees.
The figure above a general guide to costs for extending a lease, but we are not able to supply a more accurate figure in the absence of comprehensive investigations. You should not use this information in a Notice of Claim or as an informal offer. There are no doubt other 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.