AssumingI was to buy a straightforward homein Rustington mortgage fee and dispense with a survey and no conveyancing searches how much would I expect to to save on my conveyancing in Rustington?
The only reduction in fees you would make on is the Rustington conveyancing searches. A property lawyer is required to do the vast majority of work - money laundering, liaising with your vendors conveyancing practitioner, SDLT return, register the property etc. You might save a bit for them not needing to register a charge however it won't be meaningful.
I am considering applying for a Nottingham mortgage for purchase of a newly converted (under development) in Rustington with 60% LTV. Is it compulsory to choose a solicitor on the conveyancing panel for Nottingham ?
There is nothing to stop you using your solicitor, but Nottingham will insist on their interests being represented by a firm on their conveyancing panel. There is much more potential for delays and confusion with two solicitors involved, and it will undoubtedly be more expensive too.
We had appointed conveyancers based in Rustington on the Bank of Ireland solicitor panel. They have just invoiced me a separate fee for the legal aspects of the Bank of Ireland mortgage. Is this an additional conveyancing fee set by Bank of Ireland?
As unfair as it may appear, as long as it’s in their Terms of Engagement or Quote then yes your property lawyer may charge a fee for this. This fee is not dictated by Bank of Ireland but by your Rustington conveyancing practitioner. Plenty of firms on the Bank of Ireland panel will quote ’dealing with mortgage’ fee but some practices include it on their overall fee.
I recently had an offer accepted on an apartment in Rustington. My mortgage broker pressured me to appoint their solicitor. I paid an advanced payment of £200. Shortly after, the property lawyer called me to say that they were not on the Lloyds conveyancing panel. Am I right in thinking that I should be due a refund?
You should be able to recover this from the law firm if they were not on the Lloyds panel. They should have asked at the outset which lender you were obtaining a mortgage with. An important lesson to readers of this site is to check that the lawyers are on the appropriate lender panel.
I am due to exchange contracts on my flat. I had a double glazing fitted in October 2006, but did not receive a FENSA certificate or Building Regulation Certificate. My buyer's mortgage company, RBS are being a right pain. The Rustington solicitor who is on the RBS conveyancing panel is saying indemnity insurance will be fine but RBS are requiring a building regulation certificate. Why do RBS have a conveyancing panel if they don't accept advice from them?
It is probably the case that RBS have referred the matter to their valuer. The reason why RBS may not want to accept indemnity insurance is because it does not give them any reassurance that the double glazing was correctly and safely installed. The indemnity insurance merely protects against enforcement action which is very unlikely anyway.
I am buying a new build flat in Rustington. Conveyancing is a frightening process at the best of times but I have never purchased a new build flat before. Can you give me some examples of some of the questions asked in new build conveyancing.
Here are examples of a selection of leasehold new build enquiries that you may expect your new-build leasehold conveyancing in Rustington
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The Vendor must covenant to keep unsold units in good repair until long leases are granted therefore. Will control of the Management Company (if any) be handed over to purchasers on completion of the last sale or earlier? Will the freehold then be transferred for a nominal consideration (not exceeding £100) to the Management Company? The Lease must contain a provision on behalf of the Vendor to pay the service charges in respect of unoccupied units in order to ensure that all services can be provided. Has the Lease plan been approved by the Land Registry and if not when will they be lodged for this purpose?
I am employed by a reputable estate agent office in Rustington where we see a few flat sales put at risk due to leases having less than 80 years remaining. I have been given contradictory information from local Rustington conveyancing solicitors. Could you shed some light as to whether the owner of a flat can initiate the lease extension process for the purchaser on completion of the sale?
Provided that 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 sit tight for 2 years to extend their lease. Both sets of lawyers will agree to form of assignment. The assignment needs to be completed before, or at the same time as completion of the disposal of the property.
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 own a 2 bed flat in Rustington, conveyancing formalities finalised half a dozen years ago. How much will my lease extension cost? Corresponding flats in Rustington with over 90 years remaining are worth £195,000. The average or mid-range amount of ground rent is £45 yearly. The lease ceases on 21st October 2088
With 63 years unexpired the likely cost is going to range between £16,200 and £18,600 plus professional fees.
The figure above a general guide to costs for renewing a lease, but we cannot give you 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 are no doubt 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 placing reliance on this information before seeking the advice of a professional.
I'm remortgaging a apartment in Rustington. I have found my conveyancer's company on the Law Society's list, but I can't find my conveyancer's name as listed on the regulator's website. Is this a big problem?
Not every individual in the practice must be listed by the regulator. Provided there is someone qualified to 'oversee' the work, the actual day-to-day activity can be conducted by unqualified staff.