Our solicitor has discovered a a problem with the lease for the property we are buying in Shropshire. The seller’s lawyers have put forward title insurance as a workaround. We are happy with insurance and will pay for it. Our property lawyer says that he must be satisfied that the lender is happy with this solution. Are we the client or is the mortgage company ?
The short answer to your last question is that, notwithstanding the potential for a conflict of interest, you and the mortgage company are the client. Your conveyancer must comply with the UK Finance Lenders’ Handbook specifications. The UK Finance Lenders’ Handbook conditions require your lawyer to disclose issues such as defects with the lease so that the lender can be afforded the opportunity to check with their valuer as to the extent that the value of the property is affected. Should you refuse to allow your lawyer to make the appropriate notification then your conveyancer will have no choice but to discontinue acting for you.
I need some fast conveyancing in Shropshire as I have a deadline to exchange contracts within 2 weeks. A home loan is not required. Can I escape the need for conveyancing searches to save money and time?
If.Given you are are a cash buyer you are at liberty not to do searches although no solicitor would recommend that you don't. With plenty of history conveyancing in Shropshire the following are instances of issues that can arise and therefore affect market value: Refused Planning Applications, Outstanding Fees, Outstanding Grants, Road Schemes,...
I'm purchasing a new build house in Shropshire with the aid of help to buy. The sellers refused to budge the price so I negotiated £7000 of additionals instead. The house builders rep advised me not to tell my solicitor about the side-deal as it would adversely affect my mortgage with Accord Mortgages Ltd. Do I keep my lawyer in the dark?.
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.
In my capacity as executor for the estate of my grandmother I am disposing of a residence in Swansea but reside in Shropshire. My conveyancer (approximately 250 miles from meneeds me to sign a stat dec ahead of completion. Can you recommend a conveyancing lawyer in Shropshire to attest this legal document for me?
strictly speaking you should not be required to have the documents attested by a conveyancing solicitor. Normally or notary public or solicitor will do regardless of whether they are Shropshire based
Completion is due on the sale of our £350,000 apartment in Shropshire next Tuesday. The freeholder has quoted £360 for Certificate of Compliance, insurance certificate and previous years statements of service charge. Is it legal for a freeholder to charge such fees for a leasehold conveyance in Shropshire?
Shropshire conveyancing on leasehold maisonettes typically results in administration charges levied by freeholders :
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Addressing conveyancing due diligence enquiries
Where consent is required before sale in Shropshire
Copies of the building insurance and schedule
Deeds of covenant upon sale
Registering of the assignment of the change of lessee after a sale
I inherited a 1 bedroom flat in Shropshire, conveyancing having been completed in 2003. Can you please calculate a probable premium for a statutory lease extension? Comparable properties in Shropshire with an extended lease are worth £222,000. The ground rent is £50 invoiced annually. The lease comes to an end on 21st October 2095
You have 70 years remaining on your lease the likely cost is going to range between £9,500 and £11,000 plus legals.
The suggested premium range that we have given is a general guide to costs for renewing a lease, but we are not able to advice on a more accurate figure in the absence of comprehensive investigations. Do not use this information in tribunal or court proceedings. There are no doubt other issues that need to be taken into account and clearly you want to be as accurate as possible in your negotiations. You should not take any other action placing reliance on this information before seeking the advice of a professional.
Finally, a loan offer from a lender for the refinancing of my 3 bedroom garden flat is due any day now. Could you suggest a low cost remortgage conveyancing practitioner in Shropshire ?
You are on the wrong site if you are in need of a cheap conveyancing in Shropshire. Our intention is to offer value for money conveyancing but we do not aim to advertise as being the cheapest. Do not be fooled by companies offering £99 conveyancing in Shropshire.In your best case scenario, in opting for cheap conveyancing, you will end up with what you pay for and at worst you will end up invoiced for extras and still not get the service expected.