Am I correct in assuming that the fact that my solicitor in Sudbury is not identified on my mortgage company's conveyancing panel that there is a problem with the standard of her work?
It would be unwise to jump to that conclusion. There are all sorts of perfectly reasonable explanations. A recent report by the solicitors regulator revealed 76% of law firms surveyed had been removed from at least one lender panel. The top 5 reasons are as follows: (1) lack of transactions (2) the solicitor is a sole practitioner (3) as part of the HSBC panel reduction (4) regulatory contact by SRA (5) accidental removal. Where you are concerned you should simply call the Sudbury conveyancing practice and ask them why they are no longer on the approved list for your bank.
My husband and I are nearing an exchange on a property in Sudbury and my parents have sent the exchange deposit to my lawyer. I am now told that as the deposit has not arrived from me my conveyancing practitioner needs to disclose this to my mortgage company. I am advised that, in also acting for the lender he must inform them that the balance of the purchase price is not just from me. I informed the mortgage company concerning my parents' contribution when I applied for the mortgage, so is it really appropriate for him to raise this?
The conveyancing practitioner is obliged to clarify with mortgage company to ensure that they understand that the balance of the purchase price is not from your own funds. The solicitor can only reveal this to your bank if you agree, failing which, your lawyer must cease to continue acting.
Various online forums that I have visited warn that are the main cause of delay in Sudbury conveyancing transactions. Is there any truth in this?
The Council of Property Search Organisations (CoPSO) has noted the determinations of a review by MoveWithUs that conveyancing searches do not feature within the most frequent causes of hindrances in the conveyancing process. Searches are not likely to be the root cause of holding up conveyancing in Sudbury.
I am buying a new build house in Sudbury with the aid of help to buy. The sellers refused to budge the amount so I negotiated 6k of extras instead. The property agent advised me not to tell my solicitor about the side-deal as it would impact my loan with the bank. Do I keep my lawyer in the dark?.
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.
Our conveyancer has advised that he intends to complete and exchange simultaneously on the sale of our £400,000 flat in Sudbury next Friday. The management company has quoted £312 for Certificate of Compliance, insurance certificate and 3 years service charge statements. Is the landlord entitled to charge such fees for a leasehold conveyance in Sudbury?
Sudbury conveyancing on leasehold maisonettes normally necessitates the buyer’s solicitor sending enquiries for the landlord to answer. Although the landlord is not legally bound to address these enquiries the majority will be content to assist. They are entitled to invoice a reasonable charge for responding to enquiries or supplying documentation. There is no upper cap for such fees. The average costs for the paperwork that you are referring to is over three hundred pounds, in some transactions it is in excess of £800. The management information fee invoiced by the landlord must be sent together with a summary of entitlements and obligations in relation to administration fees, without which the charge is not strictly payable. In reality one has no choice but to pay whatever is demanded should you wish to exchange contracts with the buyer.
I have attempted and failed to negotiate with my landlord to extend my lease without getting anywhere. Can the Leasehold Valuation Tribunal adjudicate on such issues? Can you recommend a Sudbury conveyancing firm to act on my behalf?
if there is a absentee freeholder or where there is dispute about what the lease extension should cost, under the relevant statutes you can apply to the First-tier Tribunal (Property Chamber) to calculate the premium.
An example of a Lease Extension matter before the tribunal for a Sudbury residence is Ground Floor Flat 79 London Road in September 2012. the Tribunal held that the premium payable for the lease extension should be £7,636 This case related to 1 flat. The remaining number of years on the lease was 74 years.
What type of premises does your Sudbury conveyancing quotes apply to?
Our conveyancing quotes are only appropriate to standard residential property in England & Wales. Should you have any different requirements for instance industrial or agricultural property or commercial conveyancing in Sudbury you should telephone us to address your requirements .