It has come to my attention via my lender that my St James's lawyer is not on the bank Solicitor panel. How can I be sure whether this is correct?
You need to contact your St James's conveyancer. It is reasonable to expect your lawyer to advise you of the situation. If they are not on the panel they may recommend you to a St James's conveyancing firm that is on the approved list of lawyers for your mortgage company.
I am hoping to move into my new home in St James's next Tuesday. I have now been asked to send a copy of my building insurance schedule by my solicitor as he says that he has to check this in his capacity as lawyer for the lender. What risks does the mortgage company expect the insurance to cover?
All property lawyers on acting for mortgage companies would need to check that the following risks are covered fire; lightning; aircraft; explosion; earthquake; storm; flood; escape of water or oil; riot; malicious damage; theft or attempted theft; falling trees and branches and aerials; subsidence; heave;landslip;collision;accidental damage to underground services;professional fees, demolition and site clearance costs; and public liability to anyone else. There are some other issues such as the level of excess that are set out in a lender’s UK Finance Lenders’ Handbook instructions. These obligations are not specific to conveyancing in St James's.
We had instructed solicitors locally in St James's on the Skipton solicitor approved list. They are now charging me a further amount for dealing with the Skipton mortgage. Is this a supplemental conveyancing fee specified by Skipton?
Unfortunately, as long as it is in their Terms and Conditions or estimate then yes your solicitor may levy a fee for this. The charge is not set by Skipton but by your St James's conveyancing practitioner. Plenty of firms on the Skipton panel will quote an ‘acting for lender’ fee and others do not.
I can not fathom if my bank requires a lease extension. I have called my St James's building society branch on numerous occasions and was informed it wasn't a problem and they will lend. My St James's conveyancing solicitor - who is on the bank conveyancing panel- called and was told they refuse to lend based on their UK Finance Lenders’ Handbook minimum lease term requirements. I simply don't know who is right.
The solicitor has to follow the CML Handbook section two provisions for your bank. Unless your lawyer obtains specific confirmation in writing that the bank will go ahead, your lawyer has no choice but to refrain from exchanging contract and committing you to the purchase. We would suggest that you ask the bank to contact your lawyer in writing confirming that they will accept the number of years left on the lease.
My offer on a property in St James's has been accepted, but there is a chain. The sellers have put an offer on a flat, but it’s not yet agreed to, and have viewings of other apartments booked. I have selected a high street conveyancing solicitor in St James's. What should be my next step? When should I get the mortgage application with HSBC going?
It is usual to have anxieties where there is a chain as you are unlikely to want to incur costs prematurely (mortgage application is in the region of £1k, then valuation, St James's conveyancing search charges, etc). First, you should ensure that your solicitor is on the HSBC approved list. Regarding the next phase this very much depends on the uniqueness of your case, attraction to this property and on the state of the market. In a buoyant market some buyers would apply for a home loan with HSBC and pay for the valuation and only if it was satisfactory would they request their conveyancer to press on with the conveyancing in St James's.
I need to appoint a conveyancing solicitor for sale conveyancing in St James's. I happened to chance upon a web site which looks to be the perfect offering If it is possible to get all formalities completed via web that would be preferable. Should I be wary? What should out be looking out for?
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?
Back In 2000, I bought a leasehold flat in St James's. Conveyancing and Accord Mortgages Ltd mortgage organised. I have received a letter from someone claiming to own the freehold. It included a demand for arrears of ground rent dating back to 1997. The conveyancing practitioner in St James's who acted for me is not around. Do I pay?
First make enquiries of the Land Registry to be sure that the individual claiming to own the freehold is indeed the new freeholder. It is not necessary to incur the fees of a St James's conveyancing firm to do this as it can be done on-line for a few pound. Rest assured that regardless, even if this is the rightful freeholder, under the Limitation Act 1980 the limitation period for recovery of ground rent is six years.
Following months of dialogue we are unable to agree with our landlord on how much the lease extension should cost for our flat in St James's. Does the Leasehold Valuation Tribunal have jurisdiction to calculate the appropriate figures?
if there is a missing freeholder or where there is dispute about what the lease extension should cost, under the relevant legislation you can apply to the First-tier Tribunal (Property Chamber) to assess the premium.
An example of a Freehold Enfranchisement case for a St James's residence is 20 Avonwick Road in July 2013. The Tribunal was dealing with an application under Section 26 of the Leasehold Reform Housing and Urban Development Act 1993 for a determination of the freehold value of the property. It was concluded that the price to be paid was Fifteen Thousand Nine Hundred and Seventy (£15,970) divided as to £8,200 for Flat 20 and £7,770 for Flat 20A This case related to 1 flat. The unexpired term as at the valuation date was 73.26 years.
Our solicitor in St James's is asking me for personal identification documents asserting that this forms part of his retainer as a conveyancer on the mortgage company Conveyancing panel. Can you confirm whether this is the case?
Anti-terror and anti-money-laundering rules require St James's conveyancing solicitors and licensed conveyancers to verify the identity of the person or body they are dealing with before they can accept their conveyancing business. The Client Care letter that you need to sign will no doubt confirm this. Your lawyer is right that the lender also require certain documents to be viewed. If a you refuse to provide ID verification documents, your conveyancer would not be able to accept instructions from you. Your lawyer also has obligations to obtain certain documents in accordance with the mortgage company's UK Finance Lenders’ Handbook requirements