we are a couple who are purchasing a purpose built apartment in Tidworth with a loan from Birmingham Midshires.We like our Tidworth conveyancing lawyer but Birmingham Midshires informed us her practice is not on their "panel". It seems we are left with no choice but to instruct a Birmingham Midshires panel lawyer or keep our preferred solicitor and fork out for a Birmingham Midshires panel lawyer to represent them. We feel as though this is unjust; is there anything we can do?
Unfortunately,no. The loan issued to you contains terms and conditions, a common one being that solicitors needs to be on the Birmingham Midshires approved list. in the past, most banks had large numbers of law firms 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. Another option that might be available is for your solicitors to apply to be on the conveyancing panel for Birmingham Midshires
My partner and I have arranged the release of further funds on our mortgage from Clydesdale as we intend to conduct alterations to our house in Tidworth. Do we need to appoint a bricks and mortar Tidworth solicitor on the Clydesdale conveyancing panel to handle the paperwork?
Clydesdale do not ordinarily appoint firms on their approved list of lawyers to handle the formalities. If they do require any legal work then you would need to ensure that such a lawyer was on the Clydesdale conveyancing panel.
Completion of my purchase has taken place for my property in Tidworth. Conveyancing was of an acceptable standard but I would like to complain about the lender. Who do I contact should I wish to lodge a complaint?
Almost all banks and building societies have complaints procedures. Your first point of contact should be one of the lender’s branches or the Customer Services Team at head office. In most cases complaints to a lender are resolved very quickly. However if you are not satisfied that the matter is not resolved you can write to Financial Ombudsman Service, South Quay Plaza, 183 Marsh Wall, London E14 9SR who will take matters further.
At last I have had an offer on a maisonette in Tidworth accepted, but there is a chain. The vendors have offered on a flat, however it’s not been accepted yet, and are looking at other properties in the pipeline. I have instructed a bricks and mortar conveyancing solicitor in Tidworth. What should be my next step? When do I get the mortgage application with Nationwide started?
It is normal to have concerns where there is a chain as you are unlikely to want to be too out of pocket too early (home loan application is approx £1k, then survey, Tidworth conveyancing search charges, etc). First, you must ensure that your solicitor is on the Nationwide approved list. As to the next steps this very much depends on the specifics of your case, motivation for the property and on the state of the market. In a hot market the majority of purchasers will apply for a home loan with Nationwide and pay for the valuation and only if it was satisfactory would they pay their lawyer to press on with searches.
Are there restrictive covenants that are commonly picked up during conveyancing in Tidworth?
Covenants that are restrictive in nature can be picked up when reviewing land registry title as part of the process of conveyancing in Tidworth. An 1874 stipulation that was seen was ‘The houses to be erected on the estate are each to be of a uniform elevation in accordance with the drawings to be prepared or approved by the vendor’s surveyor…’
I have been on the look out for a ground for flat up to £235,500 and found one round the corner in Tidworth I like with open areas and railway links nearby, the downside is that it only has 61 years unexpired on the lease. I can't really find anything else in Tidworth in this price bracket, so just wondered if I would be making a grave error acquiring a lease with such few years left?
Should you need a mortgage the remaining unexpired lease term will be a potential deal breaker. Reduce the offer by the expected lease extension will cost if not already taken into account. If the current owner has owned the premises for a minimum of twenty four months you may 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 term and have £0 ground rent by law. You should speak to your conveyancing solicitor concerning this matter.
Should I be concerned about third parties that I am dealing with are recommending a nationwide conveyancing firm rather than a local Tidworth conveyancing firm?
As is the case with many service providers, often referrals from family and friends can be most helpful. Yet there are lots of parties with a vested interest in a conveyancing deal; estate agents, financial adviser and mortgage companies may put forward solicitors to instruct. Sometimes these lawyers might be known to one of the organisations as experts in their field, but occasionally there might be a financial incentive behind the endorsement. You have the right to select your own conveyancer. Don't forget that most mortgage providers have an approved list of conveyancers you must use for the lender aspect of your transaction.
If all goes to plan we aim to complete the disposal of our £150,000 flat in Tidworth in just under a week. The landlords agents has quoted £408 for Certificate of Compliance, building insurance schedule and previous years statements of service charge. Is it legal for a freeholder to charge such fees for a flat conveyance in Tidworth?
For most leasehold sales in Tidworth conveyancing will involve, queries regarding the management of a building inevitably needing to be answered directly by the freeholder or its agent, this includes :
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Completing pre-contract questions
Where consent is required before sale in Tidworth
Supplying insurance information
Deeds of covenant upon sale
Registering of the assignment of the change of lessee after a sale
I invested in buying a leasehold flat in Tidworth, conveyancing was carried out in 2001. Can you let me have an estimate of the premium that my landlord can legally expect in return for granting a renewal of my lease? Comparable properties in Tidworth with a long lease are worth £179,000. The ground rent is £65 yearly. The lease comes to an end on 21st October 2082
With just 57 years left to run we estimate the price of your lease extension to span between £26,600 and £30,800 as well as professional fees.
The figure above a general guide to costs for renewing a lease, but we are not able to supply a more accurate figure in the absence of comprehensive investigations. Do not use this information in a Notice of Claim or as an informal offer. There are no doubt other concerns that need to be considered and clearly you want to be as accurate as possible in your negotiations. You should not take any other action based on this information without first seeking the advice of a professional.