Unfortunately I am unable to travel far from Ryde. Is there a reason why all Ryde conveyancing practitioners are not on all mortgage company panels?
Lenders point to the fact that solicitor-led fraud is thought to be responsible for millions of pounds of fraud annually.The elimination of law firms from lender panels started with the rise in mortgage fraud, which prompted a thematic review by the Financial Services Authority in 2011. Its conclusions included recommendations for lending institutions to review their conveyancing panels, which kicked off a major policy change in the sector. It resulted in lenders purging a number of firms off their official list of approved conveyancers .
In reading consumer advice sites for an online solicitor in Ryde, most say that I must instruct a CQS kitemarked solicitor. Can you explain what CQS is?
Ryde Conveyancing Quality Scheme practices have achieved certification under the Law Society's Scheme (CQS) CQS was brought about to establish evidence of quality standards in the in the legal transfer of properties. CQS helps consumers to recognise solicitor firms who provide a quality residential conveyancing. Ryde is one of the many areas in England and Wales in which accredited firms are based. The scheme requires solicitors to undergo a strict assessment, compulsory training, self-certification, spot checks and annual reviews in order to maintain CQS status. It is available to solicitors and not licensed conveyancers and has the support of the Council of Mortgage Lenders.
I'm purchasing a new build house in Ryde with the aid of help to buy. The builders would not budge the amount so I negotiated five thousand pounds worth of fixtures and fittings instead. The house builders rep told me not to tell my lawyer about the extras as it may put at risk my loan with the bank. 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 need to appoint a conveyancing solicitor for purchase conveyancing in Ryde. I happened to land on a site which looks to be the ideal solution If it is possible to get all formalities completed via web that would be ideal. Should I be wary? What are the potential pitfalls?
As usual with these online conveyancers you need to read ALL the small print - did you notice the extra charge for dealing with the mortgage?
I’m about to sell my basement flat in Ryde. Conveyancing is yet to be initiated, however I have recently received a yearly service charge invoice – Do I pay up?
Your conveyancing lawyer is likely to suggest that you should pay the maintenance contribution as you normally would as all rents and service invoices will be apportioned on completion, so you will be reimbursed by the purchaser for the period running from after the completion date to the next payment date. Most managing agents will not acknowledge the buyer until the service charges have been paid and are up to date, so it is important for both buyer and seller for the seller to show that they are up to date. Having a clear account will assist your cause and will leave you no worse off financially.
I invested in buying a ground floor flat in Ryde, conveyancing having been completed 5 years ago. Can you give me give me an indication of the likely cost of a lease extension? Corresponding properties in Ryde with an extended lease are worth £216,000. The ground rent is £50 charged once a year. The lease ends on 21st October 2094
With 69 years unexpired the likely cost is going to range between £9,500 and £11,000 plus costs.
The figure above a general guide to costs for extending a lease, but we cannot give you the actual costs without more comprehensive due diligence. Do not use the figures in a Notice of Claim or as an informal offer. There may be additional issues that need to be taken into account and you obviously should be as accurate as possible in your negotiations. You should not move forward based on this information without first getting professional advice.
Myself and my fiance have just had an offer accepted on a apartment and had an appointment on Friday with the Post Office for the mortgage. They advised me that when it comes to choosing a property lawyer that if they are not on their approved panel of conveyancers then we will have to pay out an additional charge of £200. This is because they would then have to instruct a conveyancer to act on their behalf in addition to the one we select on our behalf and we assume responsibility for their fees. I have asked the Post Office to supply me with a list so I can obtain quotes only from their approved lawyers but was told that I need to check with each individual lawyer to see if they are on the panel. Is there a simple way of finding out who is on a lender panel?
You should ask the Post Office what their panel criteria is for a solicitor.Then ask the solicitor of your choice whether they meet the criteria and have they acted on loans for the Post Office historically. If the answer to those is yes, then just clarify this with the Post Office. Another option is to use our search tool and we should be able to identify a conveyancing practitioner in Ryde on the approved list for the Post Office.