We had instructed solicitors with offices in Turnpike Lane on the Nottingham solicitor panel. They are now charging me an additional amount for handling the Nottingham mortgage. Is this an additional conveyancing fee set by Nottingham?
Provided it is contained in their Terms and Conditions or Quote then yes your property lawyer may levy a fee for this. This charge is not set by Nottingham but by your Turnpike Lane conveyancing practitioner. Numerous firms on the Nottingham panel will levy ’dealing with mortgage’ fee and others do not.
We are getting the release of further funds on our mortgage from TSB as we intend to carry out a loft conversion to our house in Turnpike Lane. Are we obliged to select a nearby Turnpike Lane solicitor on the TSB conveyancing panel to deal with the legals?
TSB don't usually appoint a member of their approved list of lawyers 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 TSB conveyancing panel.
We have agreed to purchase a house in Turnpike Lane. A rare aspect is that the roof has a solar panel. Leeds Building Society have issued a mortgage offer so presumably this is not a concern to them. Why is my solicitor raising questions about the panel?
Given that your lender is Leeds Building Society your lawyer must follow the formal requirements contained in Section 2 of UK Finance Lenders’ Handbook for Leeds Building Society. The CML Handbook includes minimum provisions for solar panel roof-space leases, and property lawyers are required to report to Leeds Building Society where a lease fails to satisfy these conditions. The conditions relate to the installation of panels on properties nationwide and is not isolated to Turnpike Lane.
I completed on my home on 13 August and the transaction details is yet to be on the land registry website. Any reason for this? My conveyancing solicitor in Turnpike Lane advises it would be concluded in a couple of weeks. Are transfers in Turnpike Lane particularly slow to register?
As far as conveyancing in Turnpike Lane is concerned, registration is no faster or slower than anywhere else in the country. As opposed to being determined by geographic area, timescales can adjust subject to who lodges the application, whether it is in order and whether the Land registry must send notices to any third persons or bodies. At present roughly 80% of submission are fully addressed in less than three weeks but some can be subject to protracted hold-ups. Historically registration is effected after the buyer has moved in to the property therefore post completion formalities is not typically primary concern yet where it is urgent that the the registration takes place urgently then you or your conveyancer can communicate with the Registry to express the reasoning for an expedited registration.
I'm buying my first flat in Turnpike Lane with a loan from Alliance & Leicester . The developers refused to move on the price so I negotiated five thousand pounds worth of fixtures and fittings instead. The house builders rep suggested that I not inform my conveyancer about the side-deal as it would affect my loan with Alliance & Leicester . Do I keep my lawyer in the dark?.
All lenders require a Disclosure of Incentives Form from the developer 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.
Yesterday I discovered that there is a flying freehold element on a property I put an offer in a fortnight ago in what was supposed to be a quick, chain free conveyancing. Turnpike Lane is the location of the property. What do you suggest?
Flying freeholds in Turnpike Lane are not the norm but are more likely to exist in relation to terraced houses. Even where you use a solicitor outside Turnpike Lane you must be sure that your lawyer goes through the deeds diligently. Your mortgage company may require your conveyancing solicitor to take out an indemnity policy. Some of the more diligent conveyancing solicitors in Turnpike Lane may ascertain that this is not enough and that the deeds be re-written to give you the most up to date legal protection. If so, the next door neighbour also had to sign up to the revised deeds.It is possible that your lender will not accept the situation so the sooner you find out the better. You should also check with your insurance broker as to whether they will insure a flying freehold residence.
Am I right to be suspicious by third parties that I am dealing with are recommending an internet conveyancing firm as opposed to a High Street Turnpike Lane conveyancing company?
As with many service providers, often suggestions from relatives can be extremely useful or valuable. But there are many players in a conveyancing transaction; estate agents, mortgage brokers and banks might all suggest conveyancers to instruct. On occasion these conveyancers might be known to one of the organisations as one of the best in their field, but sometimes there may be a financial incentive behind the recommendation. You have the right to appoint your preferred lawyer. However, bear in mind that some lenders specify a panel list of solicitors you have to use for the mortgage aspect of your house move.
Why do Turnpike Lane conveyancing fees differ for leasehold and freehold properties?
Inevitably there is increased work needed in leasehold conveyancing. Turnpike Lane has many leasehold properties. There is more time involved in the purchase: for example, the lease and leasehold information (including current service charge, ground rent and buildings insurance details) obtained from the freeholder or managing agents. There are strict criteria that the lease must meet in order to be acceptable to a mortgage company. If it does not meet these requirements, the lease must be amended, which can involve additional expense for the seller.