Unfortunately I am unable to travel far from Staffordshire. What is the rationale as to why all Staffordshire solicitors aren't included on all bank panels?
Banks highlight the fact that solicitor-led fraud is thought to be responsible for millions of pounds of fraud annually.The elimination of law firms off of lender panels started with the rise in mortgage fraud, which prompted a thematic review by the FSA in 2011. Its outcome included recommendations for mortgage companies to review their conveyancing panels, which kicked off a major policy change in the sector. This led to banks and building societies culling less reputable firms from their official list of approved conveyancing practitioners .
I'm buying a new build house in Staffordshire with the aid of help to buy. The builders refused to budge the price so I negotiated five thousand pounds worth of extras instead. The estate agent advised me not reveal to my solicitor about this side-deal as it would impact my loan with TSB. Should I keep quiet?.
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.
I have been on the look out for a ground for flat up to £245,000 and found one round the corner in Staffordshire I like with open areas and transport links in the vicinity, however it's only got 52 years unexpired on the lease. There is not much else in Staffordshire for this price, so just wondered if I would be making a grave error acquiring a short lease?
If you require a home loan the remaining unexpired lease term will likely be problematic. Reduce the price by the amount the lease extension will cost if it has not already been discounted. If the current owner has owned the premises for a minimum of 2 years you can ask them to start the process of the extension and pass it to you. An additional ninety years can be extended on to the existing lease with a zero ground rent applied. You should speak to your conveyancing lawyer regarding this.
I was pointed in your direction by a couple of local property agents in Staffordshire to select a property lawyer using your seach tool. Is there a financial upside for Estate Agents to market your site rather than another?
We don’t offer any financial incentive for directing people in our direction. We thought it would be too underhand a fee as home movers will think, ‘Why is the agent getting a kickback? Why am I not getting any benefit too?’ We would prefer to grow our business on genuine recommendations.
I am using a search engine for the phrase conveyancing in Staffordshire it shows results of many solicitorslocally. With so much choice what is the best way to find the right property lawyer for my move?
The preferential method of finding the right conveyancer is through a trusted referral, so ask friends and relatives who have purchased a property in Staffordshire or the reputable estate agent or mortgage broker. Costs for conveyancing in Staffordshire vary, so it's advisable to obtain a minimum of four costs illustrations from varying types of law firms. Make sure that you know that the costs are guaranteed not to escalate.
Last August I purchased a leasehold house in Staffordshire. Am I liable to pay service charges relating to a period prior to completion of my purchase?
Where the service charge has already been demanded from the previous owner and they have not paid you would not usually be personally liable for the arrears. However, your landlord may still be able to take action to forfeit the lease. It is an essential part of leasehold conveyancing for your conveyancer to ensure to have an up to date clear service charge receipt before completion of your purchase. If you have a mortgage this is likely to be a requirement of your lender.
If you purchase part way through an accounting year you may be liable for charges not yet demanded even if they relate to a period prior to your purchase. In such circumstances your conveyancer would normally arrange for the seller to set aside some money to cover their part of the period (usually called a service charge retention).
Leasehold Conveyancing in Staffordshire - Sample of Questions you should ask Prior to Purchasing
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Who takes charge for maintaining and repairing the building? Make sure you find out if the the lease contains any onerous restrictions in the lease. For example it is fairly common in Staffordshire leases that pets are not permitted in certain buildings in Staffordshire. If you love the apartmentin Staffordshire but your dog is not allowed to move with you then you will be faced hard choice. Is the freehold reversion owned jointly by the tenants?