I plan on buying a maisonette in Underwood. My property lawyer is not listed on the bank approved list. Is it possible for me to retain my Underwood conveyancing solicitor notwithstanding that they are not on the lender list of approved lawyers?
You have a couple of options available to you here
- Complete the deal with your preferred Underwood conveyancer but your mortgage company will no doubt instruct a lawyer from their approved panel. This will result in additional cost together with potential delay.
- Choose a new property lawyer to act in the purchase, obviously checking they are on the bank conveyancing panel.
- Convince your solicitor to do everything within their powers to get listed on the bank’s conveyancing panel
In the event thatI was to buy a freehold homein Underwood mortgage fee and dispense with a survey and no local authority searches how much would I expect to to save on my conveyancing in Underwood?
The sole saving you would make on is the costs for searches. A conveyancing practitioner is required to do the vast majority of work - money laundering, communicating with the vendors solicitor, SDLT submission, register the property etc. A slight saving might be made by not needing to register a mortgage however it won't be significant.
When it comes to lenders such as Principality, do Underwood property lawyers incur an annual charge to be on the conveyancing panel?
We are not aware of any bank fees to register on their panel, although some do charge an administration charge to deal with the processing of the conveyancing panel submission.
We have a mortgage agreed in principle with Nationwide. Underwood conveyancing solicitors were selected. How long does it take for Nationwide to send the offer to the conveyancer?
Some lenders take longer than others. Have Nationwide done the survey? Have you informed Nationwide as to your lawyers' details and checked that your lawyers are on the Nationwide conveyancing panel? It is not unusual for a mortgage offer to take a month to come through.
I am purchasing a property in Underwood. A rare aspect is that the roof has a solar panel. Solicitors conducting should look into this right? Will my lender TSB be concerned?
As your lender is TSB your lawyer must follow the conveyancing instructions set out in Part two of UK Finance Lenders’ Handbook for TSB. The Council of Mortgage Lenders’ Handbook includes minimum provisions for solar panel roof-space leases, and property lawyers are required to report to TSB where a lease does not satisfy these specifications. The specifications relate to the installation of panels on properties in England and Wales and is not limited to Underwood.
Over the last few months I have been searching for a ground for flat up to £245,000 and identified one near me in Underwood I like with open areas and railway links nearby, however it only has 61 remaining years left on the lease. I can't really find anything else in Underwood suitable, so just wondered if I would be making a mistake purchasing a short lease?
If you require a mortgage the remaining unexpired lease term will likely be problematic. Reduce the price by the amount the lease extension will cost if it has not already been discounted. If the existing proprietor has owned the property for a minimum of 2 years you could ask them to start the process of the extension and pass it to you. You can add 90 years to the existing lease with a zero ground rent applied. You should consult your conveyancing lawyer concerning this.
I am looking for a conveyancing solicitor in Underwood for my home move. Is there any facility to review a firm’s record with the legal regulator?
You may read presented Solicitor Regulator Association (SRA) determinations stemming from investigations started on or after Jan 2008. Go to Check a solicitor's record. For records Pre 2008, or to check a solicitors record, phone 0870 606 2555, 08.00 - 18.00 Monday, Wednesday, Thursday, Friday and 09.30 - 18.00 Tuesday. International callers, use +44 (0)121 329 6800. The regulator could recorded call for training reasons.
All being well we will complete our sale of a £425,000 maisonette in Underwood in 8 days. The freeholder has quoted £420 for Certificate of Compliance, building insurance schedule and 3 years statements of service charge. Is it legal for a freeholder to charge such fees for a flat conveyance in Underwood?
Underwood conveyancing on leasehold apartments ordinarily necessitates fees being raised by managing agents :
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Completing pre-exchange enquiries
Where consent is required before sale in Underwood
Copies of the building insurance and schedule
Deeds of covenant upon sale
Registering of the assignment of the change of lessee after a sale
Underwood Conveyancing for Leasehold Flats - Examples of Questions you should ask before Purchasing
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Are any of leasehold owners in dispute over their service charge payments? Make sure you investigate if the the lease contains any onerous restrictions in the lease. By way of example it is fairly common in Underwood leases that pets are not allowed in in a block in Underwood. If you love the flatin Underwood yet your cat can’t make the move with you then you will be presented with a hard determination. You should want to find out as much as possible regarding the company managing the building as they can either make your living at the property much easier or uncomfortable. Being a leasehold owner you are often in the clutches of the managing agents both financially and when it comes to day to day matters like the cleanliness of the communal areas. Enquire of other tenants what they think of them. Finally, find out the dates that you are obliged pay the maintenance charge to the managing agents and specifically what it includes.