My fiance and I are hoping to buy a property in Stokenchurch and are in fact using a Stokenchurch conveyancing firm. Within the last couple of days our conveyancer has sent a preliminary report and documents to look through in anticipation of exchanging contracts shortly. Clydesdale have this evening contacted us to inform me that they have now hit a problem as our Stokenchurch solicitor is not on their conveyancing panel. Is this a problem?
Where you are buying a property with the assistance of a mortgage it is usual for the purchasers' solicitors to also represent the mortgage company. In order to act for a bank or building society a law firm has to be on that lender's conveyancing panel. An application has to be made by the law firm to the lender to become a member of the lender's panel and there are increasingly strict criteria which the firm has to satisfy and indeed some lenders now require their panel members to be part of the Law Society’s Conveyancing Quality Scheme. Your solicitor should contact your bank and see if they can apply for membership of their conveyancing panel, but if that is not viable they will instruct their own lawyers to represent them. You are not legally obliged to appoint a law firm on the bank's conveyancing panel as you are at liberty to use your preferred Stokenchurch lawyers, in which case it will likely add costs, and it will likely delay the transaction as you have another set of people involved.
My husband and I intend to purchase a purpose built apartment in Stokenchurch with a loan from National Westminster Bank.We use our Stokenchurch conveyancing practitioner but National Westminster Bank says she’s not listed on their "panel". It seems we are left with little choice but to instruct a National Westminster Bank panel firm or keep our local solicitor and pay for a National Westminster Bank panel lawyer to represent them. This seems very unfair; is there anything we can do?
Unfortunately,no. The loan offered to you is subject to its terms and conditions, one of which will be that solicitors will be on the National Westminster Bank conveyancing panel. Until recently, most banks had large numbers of solicitors on their panels: a borrower could find 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 lawyer to apply to be on the conveyancing panel for National Westminster Bank
Should commercial conveyancing searches reveal proposed roadworks that could affect a commercial site in Stokenchurch?
Many commercial conveyancing solicitors in Stokenchurch will perform a SiteSolutions Highways report as it dramatically cuts the time that conveyancers invest in sourcing accurate data on highways that impact buildings and development assets in Stokenchurch. The report provides definitive data on the adoption status of roads, footpaths and verges, as well as the implication of traffic schemes and the rights of way surrounding a commercial development sites in Stokenchurch.
For each commercial conveyancing transaction in Stokenchurch it is crucial to investigate the adoption status of roads surrounding a site. Failure to identify developments where adoption procedures have not been dealt with adequately may cause delays to Stokenchurch commercial conveyancing deals as well as pose a risk to future plans for the site. These searches are not conducted for residential conveyancing in Stokenchurch.
I'm buying my first flat in Stokenchurch with a mortgage from Bank of Scotland. The developers refused to move on the price so I negotiated five thousand pounds worth of fixtures and fittings instead. The house builders rep advised me not to tell my conveyancer about the extras as it will adversely affect my loan with Bank of Scotland. 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.
As co-executor for the will of my uncle I am disposing of a house in Neath but live in Stokenchurch. My lawyer (approximately 300 miles awayneeds me to sign a statutory declaration prior to the transaction finalising. Could you suggest a conveyancing lawyer in Stokenchurch to attest and place their company stamp on the document?
Technically speaking you are unlikely to be required to have the documents attested by a conveyancing solicitor. Normally any notary public or qualified solicitor will be fine regardless of whether they are based in Stokenchurch
If all goes to plan we aim to complete the disposal of our £400,000 garden flat in Stokenchurch next Tuesday. The managing agents has quoted £312 for Landlord’s certificate, building insurance schedule and previous years statements of service charge. Is it legal for a freeholder to charge exorbitant fees for a leasehold conveyance in Stokenchurch?
Stokenchurch conveyancing on leasehold apartments usually necessitates the purchaser’s lawyer sending enquiries for the landlord to address. Although the landlord is not legally bound to respond to such questions most will be willing to assist. They are at liberty to levy a reasonable administration fee for answering enquiries or supplying documentation. There is no upper cap for such fees. The average fee for the information that you are referring to is over three hundred pounds, in some transactions it is above £800. The administration charge required by the landlord must be accompanied by a summary of rights and obligations in relation to administration fees, otherwise the charge is technically not due. Reality however dictates that one has little choice but to pay whatever is requested of you if you want to sell the property.
I purchased a leasehold flat in Stokenchurch, conveyancing was carried out 5 years ago. How much will my lease extension cost? Equivalent properties in Stokenchurch with over 90 years remaining are worth £265,000. The average or mid-range amount of ground rent is £50 charged once a year. The lease expires on 21st October 2101
With 76 years left to run we estimate the price of your lease extension to range between £8,600 and £9,800 as well as legals.
The figure above a general guide to costs for renewing a lease, but we cannot give you the actual costs in the absence of detailed investigations. Do not use this information in tribunal or court proceedings. There may be other issues that need to be considered and clearly you should be as accurate as possible in your negotiations. Please do not move forward placing reliance on this information without first getting professional advice.