When it comes to mortgage companies such as Nottingham, do Tetbury property lawyers incur a fee to be on the conveyancing panel?
We are unaware of any lender fees to be on their panel, although some do charge an administration fee to deal with the processing of the conveyancing panel submission.
My partner and I have organised a further advance on our home loan from Principality as we want to carry out improvements to our house in Tetbury. Are we obliged to select a nearby Tetbury solicitor on the Principality conveyancing panel to handle the legals?
Principality don't usually require a member of their conveyancing panel to handle such a matter. If they do require any legal work then you would need to ensure that such a lawyer was on the Principality panel.
I have today made my last payment due on my mortgage with Skipton. I assume I don't need a Tetbury lawyer on the Skipton panel to remove the mortgage at the Land Registry. Please confirm.
If you have finished paying off your Skipton mortgage, they may send you evidence showing that you have paid it off. Alternatively they may notify the Land Registry directly. The Land Registry need to see this evidence before they will remove the Skipton mortgage from the register. Skipton, and any evidence they send you, will determine the action you need to take. In cases where no conveyancer is acting for you and you have paid off your mortgage:
- but are not moving to another property
- where Skipton has sent the Land Registry the discharge electronically, and
- Skipton has instructed the Land Registry to do so
I'm buying a new build house in Tetbury with a mortgage from Coventry Building Society. The builders would not move on the price so I negotiated 6k of additionals instead. The property agent suggested that I not inform my conveyancer about the deal as it could put at risk my loan with Coventry Building Society. 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.
What does commercial conveyancing in Tetbury cover?
Tetbury conveyancing for business premises incorporates a wide range of guidance, given by regulated solicitors, relating to business premises. By way of example, this area of conveyancing can cover the sale or purchase of freehold business premises or, more commonly, the transfer of existing leases or the drafting of new leasing arrangements. Commercial conveyancing solicitors can also offer advice on the sale of business assets, commercial loans and the termination of tenancies.
I have been sourcing a conveyancing practitioner in Tetbury for my house move. Is it possible to review a solicitor's record with the profession’s regulator?
Anyone can read published Solicitor Regulator Association (SRA) decisions arising from investigations started on or after 1 January 2008. Visit Check a solicitor's record. For information about the period before 1 January 2008, or to check a solicitors history, telephone 0870 606 2555, 08.00 - 18.00 Monday, Wednesday, Thursday, Friday and 09.30 - 18.00 Tuesday. For non-uk callers, call +44 (0)121 329 6800. The SRA may monitor telephone calls for training requirements.
Having checked my lease I have discovered that there are only Seventy years unexpired on my lease in Tetbury. I now wish to extend my lease but my landlord is can not be found. What should I do?
If you meet the appropriate requirements, under the Leasehold Reform, Housing and Urban Development Act 1993 you can apply to the County Court for for permission to dispense with the service of the initial notice. This will mean that your lease can be lengthened by the Court. You will be obliged to demonstrate that you have made all reasonable attempts to track down the freeholder. For most situations a specialist would be useful to carry out a search and to produce a report which can be accepted by the court as evidence that the landlord can not be located. It is wise to seek advice from a solicitor both on devolving into the landlord’s disappearance and the vesting order request to the County Court covering Tetbury.
I own a 1st floor flat in Tetbury, conveyancing having been completed March 2002. Can you shed any light on how much the price could be for a 90 year extension to my lease? Equivalent properties in Tetbury with over 90 years remaining are worth £201,000. The ground rent is £45 levied per year. The lease comes to an end on 21st October 2089
You have 65 years unexpired we estimate the premium for your lease extension to span between £13,300 and £15,400 as well as legals.
The suggested premium range that we have given is a general guide to costs for extending a lease, but we cannot give you the actual costs without more comprehensive investigations. You should not use the figures in a Notice of Claim or as an informal offer. There are no doubt additional issues that need to be considered and you obviously should be as accurate as possible in your negotiations. You should not take any other action based on this information without first getting professional advice.
Our lawyer in Tetbury has uncovered a defect with the lease for the apartment we are buying in Tetbury. The other side have put forward defective title insurance as a workaround. We are content with insurance and will cover the costs. Our solicitor says that as he is on the bank conveyancing panel he must check that the lender is happy with this solution. Are we the client or is the mortgage company?
The short answer to your last question is that, notwithstanding the potential for a conflict of interest, you and the lender are the client. A precondition to being on the lender approved panel is to comply with the UK Finance Lenders’ Handbook requirements. The UK Finance Lenders’ Handbook conditions require your lawyer to disclose issues such as defects will the lease so that the mortgage company can be afforded the opportunity to check with their valuer as to the extent that the value of the property is affected . Should you refuse to allow your lawyer to make the appropriate notification then your lawyer will have no choice but to discontinue acting for you.