We are buying a 1 bedroom apartment in Southwell with a mortgage. We like our Southwell solicitor, however the bank advise she’s not on their "panel". It seems we have no choice but to use one of the bank panel conveyancing practices or continue with our Southwell lawyer as well as pay for one of their panel firms to act for them. This seems very unfair; is there anything we can do?
No, not really. Your mortgage offer 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. A further alternative is for your Southwell conveyancing solicitor to apply to be on the conveyancing panel.
My aunt passed away last year and as sole heir and executor I was left the house in Southwell. The house had a small mortgage remaining of approximately £8000. I want to transfer the title deeds into my name whilst I re-mortgage to Nationwide, pay off the mortgage. Is this allowed?
If you intend to refinance then Nationwide will insist on your using a conveyancer on the Nationwide conveyancing panel. Here is link to the Land Registry online guidance around what to do when a property owner dies. This will help you to understand the registration process behind changing the details re the registered title. in your case it would appear that you are effectively purchasing the property from the estate. Your Nationwide conveyancing panel solicitor pays the new mortgage money into the estate, the estate pays off the old mortgage, the charge is released and you become the owner and the Nationwide mortgage is registered as a charge at the Land Registry.
My wife and I buying a detached bungalow in Southwell. We would like to carry out a loft conversion at the house.Will the conveyancing process involve enquiries to ascertain if these alterations were previously refused?
Your property lawyer should review the deeds as conveyancing in Southwell can occasionally identify restrictions in the title documents which prevent categories of changes or require the consent of another owner. Certain extensions need local authority planning consent and approval in accordance building regulations. Certain areas are designated conservation areas and special planning restrictions apply which frequently prevent or affect extensions. You should check these issues with a surveyor prior to committing yourself to a purchase.
Can you help - my lawyer says that lack of right of way insurance is required on my purchase. What is the typical level of cover needed for conveyancing in Southwell?
The appropriate level of lack of right of way indemnity insurance depends on who your lender is. It would differ for example between Lloyds TSB Bank and Virgin Money. Conveyancing practitioners as opposed to borrowers take out such policies.
I was told four weeks ago that my mortgage has been agreed to by Clydesdale. Is it usual for Clydesdale to only issue the offer once my solicitor in Southwell is approved on their conveyancing panel? Clydesdale have asked my solicitor to see a copy of their Professional Indemnity Insurance Schedule.
A lender would not issue a mortgage until they have details of a lawyer on their panel. It can take a few weeks for Clydesdale to deal with your lawyer's application to be on the Clydesdale conveyancing panel. There's no guarantee that your solicitor will be accepted.
I'm buying a new build house in Southwell benefiting from help to buy. The sellers refused to reduce the amount so I negotiated 6k of extras instead. The property agent suggested that I not reveal to my lawyer about the deal as it could affect my loan with the bank. Is this normal?.
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 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.
Yesterday I discovered that there is a flying freehold issue on a house I have offered on last month in what should have been a straight forward, chain free conveyancing. Southwell is where the house is located. What do you suggest?
Flying freeholds in Southwell are rare but are more likely to exist in relation to terraced houses. Even though you don't necessarily need a conveyancing solicitor in Southwell you must be sure that your lawyer goes through the deeds diligently. Your lender may require your conveyancing solicitor to take out an indemnity policy. Some of the more diligent conveyancing solicitors in Southwell may determine that this is not enough and that the deeds be re-written to give you the most up to date legal protection. If so, the next door neighbour also had to sign up to the revised deeds.It is possible that your lender will not accept the situation so the sooner you find out the better. You should also check with your insurance broker as to whether they will insure a flying freehold premises.
If all goes to plan we aim to complete our sale of a £325,000 flat in Southwell on Monday in a week. The managing agents has quoted £324 for Landlord’s certificate, insurance certificate and previous years service charge statements. Is the landlord entitled to charge such fees for a leasehold conveyance in Southwell?
Southwell conveyancing on leasehold flats ordinarily results in fees being raised by management companies :
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Addressing conveyancing due diligence enquiries
Where consent is required before sale in Southwell
Supplying insurance information
Deeds of covenant upon sale
Registering of the assignment of the change of lessee after a sale
I bought a garden flat in Southwell, conveyancing was carried out May 1995. How much will my lease extension cost? Corresponding properties in Southwell with over 90 years remaining are worth £222,000. The average or mid-range amount of ground rent is £50 yearly. The lease runs out on 21st October 2096
With only 70 years left to run we estimate the price of your lease extension to span between £9,500 and £11,000 as well as costs.
The suggested premium range above a general guide to costs for renewing a lease, but we are not able to supply a more accurate figure without more detailed due diligence. Do not use this information in tribunal or court proceedings. There may be additional concerns that need to be considered and you obviously should be as accurate as possible in your negotiations. Please do not move forward placing reliance on this information without first getting professional advice.