We are buying a 3 bedroom apartment in Salisbury with a mortgage. We have a Salisbury conveyancer, but the mortgage company advise she’s not on their "panel". We have to appoint one of the mortgage company panel conveyancing practices or retain our Salisbury conveyancer as well as pay for one of their panel ones to act for them. This seems very unfair; is there anything we can do?
Unfortunately,no. The mortgage offered to you is subject to its terms and conditions, one of which will be that lawyers will on the bank’s conveyancing panel. Until recently, most lenders had large numbers of law firms on their panels: a borrower could choose one for themselves, as long as it was on the lender's panel. The lender would then simply instruct the borrower's lawyers to act for the lender, too. You can use your lender's panel lawyers or you could borrow from another lender which does not restrict your choice. Another option that might be available is for your Salisbury conveyancing lawyer to apply to be on the conveyancing panel.
My fiancee and I are acquiring our first house. Our solicitor has contact usto check if we would like to order additional conveyancing searches. We are really unsure what's appropriate for conveyancing in Salisbury
The range of Salisbury conveyancing searches depends entirely on the property, the location, the possibility of any of these risks, your familiarity of the region and risks, your general attitude to risk. What matters is that you properly appreciate what information each search could give you. Then you can decide if you personally think you need that search. If uncertain, ask your solicitor to advise.
I am assisting my niece sell her flat in Salisbury. Will the solicitor commission the energy performance certificate or it is for the owner to see to?
After the demise of HIPs, energy assessments became a required element of selling a house. An energy assessment should be commissioned in advance of the property being put on the market. This is not a task that conveyancers normally arrange. Where you are instructing a Salisbury conveyancing solicitor they might help arrange energy performance certificates given their contacts with long established local energy assessors
I just acquired a property at auction in Salisbury. Conveyancing is needed. What happens now?
Now that you are exchanged you should find a conveyancing lawyer soon as you are faced with a fast approaching a drop dead date to complete the conveyancing. An auction property should have an associated auction set of papers. This will include evidence of title and search results. In the case of leasehold premises the legal papers may contain a copy of the lease, management information and a sellers leasehold information form and associated conveyancing paperwork specific to a leasehold property. You need to pass this on to your appointed conveyancing solicitor as soon as possible. Do make sure that you have funds organised to complete the transaction on the set completion date.
This question may be naive but I am unseasoned as a 1st time buyer of a ground floor flat in Salisbury. Do I collect the keys to the premises on the completion date from my solicitor? If this is the case, I will appoint a local conveyancing solicitor in Salisbury?
There is no need to visit the lawyers office on the day of completion. Conveyancing lawyers for you will transfer the purchase money to the vendor’s solicitors, and shortly after the monies have arrived, you will be called to receive the keys from the property Agents and start moving into the property. Usually this occurs between 1 and 3pm.
I'm buying a new build house in Salisbury with a loan from Platform Home Loans Ltd. The developers refused to move on the amount so I negotiated five thousand pounds worth of additionals instead. The sale representative told me not disclose to my lawyer about this extras as it could impact my loan with the bank. Do I keep my lawyer in the dark?.
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 UK Finance website. UK Finance 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 decided to have a survey done on a house in Salisbury prior to retaining lawyers. I have been told that there is a flying freehold element to the house. My surveyor advised that some banks may refuse to give a mortgage on such a home.
It depends who your proposed lender is. Santander has different instructions for example to Halifax. Should you wish to telephone us we can check with the appropriate bank. If you lender is happy to lend one our lawyers can assist as they are accustomed to dealing with flying freeholds in Salisbury. Conveyancing can be more complicated and therefore you should check with your conveyancing solicitor in Salisbury to see if the conveyancing will be more expensive.
There are only Sixty One years remaining on my lease in Salisbury. I now wish to get lease extension but my landlord is missing. What should I do?
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 enable the lease to be lengthened by the magistrate. However, you will be required to prove that you have made all reasonable attempts to locate the freeholder. In some cases an enquiry agent would be helpful to carry out a search and prepare a report to be used as proof that the freeholder is indeed missing. It is advisable to get professional help from a solicitor in relation to proving the landlord’s disappearance and the vesting order request to the County Court covering Salisbury.
I am the registered owner of a 1st floor flat in Salisbury, conveyancing formalities finalised in 2007. Can you please calculate a probable premium for a statutory lease extension? Equivalent flats in Salisbury with an extended lease are worth £186,000. The average or mid-range amount of ground rent is £55 yearly. The lease runs out on 21st October 2079
With only 53 years unexpired we estimate the premium for your lease extension to be between £27,600 and £31,800 plus professional fees.
The figure that we have given is a general guide to costs for renewing a lease, but we cannot give you a more accurate figure in the absence of comprehensive investigations. Do not use the figures in tribunal or court proceedings. There may be other issues that need to be taken into account 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 without first seeking the advice of a professional.