My financial adviser has requested my Sale lawyer’ panel reference for the Nationwide conveyancing panel. What is the best way to discover this. I have e-mailed my local Sale branch but they have not got back to me yet.
The sensible thing to do is ask for this information from your Sale solicitor . They should have a central record lender panel numbers.
My partner and I are getting closer to an exchange on a house in Sale and my mum and dad have transferred the ten percent deposit to my solicitor. I am now informed that as the deposit has not arrived from me my lawyer needs to disclose this to my lender. I am advised that, in also acting for the mortgage company he must inform them that the balance of the purchase price is not just from me. I advised the lender regarding my parents' contribution when I applied for the home loan, so is it really appropriate for him to raise this?
The property lawyer is obliged to check with mortgage company to ensure that they understand that the balance of the purchase price is not from your own funds. The solicitor can only notify this to your bank if you agree, failing which, your lawyer must cease to continue acting.
My wife and I are purchasing a house in Sale. It might be a silly question but how we can trust a solicitor? On completion day we have to deposit our life savings into their account. What protection do we have from them run away with our monies?
Be assured that all money in a Solicitors client account is 100% safe, and even if your Solicitor ran off with it, the Law Society would reimburse you fully.
I have paid off my mortgage with Principality. I assume I don't need a Sale conveyancing practitioner on the Principality panel to remove the mortgage at the Land Registry. Am I right?
If you have finished paying off your Principality mortgage, they may send you evidence showing that you have paid it off. Alternatively they may notify the Land Registry directly. The Land Registry need to see this evidence before they will remove the Principality mortgage from the register. Principality, and any evidence they send you, will determine the action you need to take. In cases where no conveyancer is acting for you and you have paid off your mortgage:
- but are not moving to another property
- where Principality has sent the Land Registry the discharge electronically, and
- Principality has instructed the Land Registry to do so
My sealed bid on a detached house in Sale has been accepted, but there is a chain. The vendors have placed an offer on a property, however it’s not yet agreed to, and are looking at other flats booked. I have selected a bricks and mortar conveyancing solicitor in Sale. What do I do now? When should I get the mortgage application with Kent Reliance started?
It is usual to have apprehensions where there is a chain as you are unlikely to want to incur costs prematurely (mortgage application is in the region of one thousand pounds, then valuation, Sale conveyancing search fees, etc). The first course of action is to ensure that your conveyancer is on the Kent Reliance conveyancing panel. As to the next stages this very much dictated by the specifics of your case, motivation for this property and on the state of the market. During a buoyant market the majority of home buyers would apply for the mortgage with Kent Reliance and arrange for the valuation and only if it comes back ok would they pay their lawyer to proceed with the conveyancing in Sale.
Despite weeks of looking the Title Certificate and documents to our property are lost. The lawyers who did the conveyancing in Sale 4 years ago are no longer around. What are my next steps?
These day there are copies made of almost everything, and your solicitor will be aware precisely where to look for all the appropriate documentation so you may purchase or sell your property without any difficulty. Where copies can’t be located, your conveyancer can arrange cover in the form of insurance or indemnities protecting you against future claims on the premises.
I am purchasing my first flat in Sale with the aid of help to buy. The developers refused to budge the amount so I negotiated £7000 of fixtures and fittings instead. The estate agent told me not reveal to my solicitor about the extras as it will adversely affect my mortgage with the lender. 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 work for a reputable estate agency in Sale where we have witnessed a few flat sales derailed due to short leases. I have received contradictory information from local Sale conveyancing firms. Could you clarify whether the vendor of a flat can instigate the lease extension formalities 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 commence 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 to extend their lease. Both sets of lawyers will agree to form of assignment. The assignment has to be done 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.
Sale Leasehold Conveyancing - A selection of Questions you should ask Prior to Purchasing
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How is the lease structured? How many of the leaseholders are in arrears for their service charge payments? How much is the ground rent and service charge?