We are purchasing a 2 bedroom apartment in Waddington with a mortgage. We would like to retain our Waddington solicitor, but the bank says he's not on their "panel". It seems we have little option but to appoint one of the bank panel firms or keep our Waddington conveyancing practitioner as well as pay for one of their panel lawyers to represent them. We feel that this is unjust; is there anything we can do?
No, not really. The mortgage offered to you is subject to its terms and conditions, one of which will be that lawyers will on the lender’s conveyancing panel. Until recently, most lenders had large numbers of law firms on their panels: a borrower could choose 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. A further alternative is for your Waddington conveyancing solicitor to apply to be on the conveyancing panel.
I am the only beneficiary of my late mum's estate and I have everything in my name alone, including the my former home in Waddington. The Waddington property was put into my name in May. I want to move. I understand that there is a Mortgage Lenders six month 'rule', which means that my property ownership will be considered the same way as though I had purchased the property in May. Do I have to wait half a year to sell?
The CML handbook mandates solicitors to: "report to us immediately if the owner or registered proprietor has been registered for less than six months." By the strict wording you may be impacted by that. How practical a view lenders take of it, depend on the mortgage company as this requirement chiefly exists to pick up on subsales or the flipping of properties.
When it comes to lenders such as Santander, do Waddington conveyancers face a fee to be on the conveyancing panel?
We are unaware of any mortgage company fees to be on their panel, although some do levy an administration fee to deal with the processing of the conveyancing panel application.
I am buying a property in Waddington. A rare aspect is that the roof has a solar panel. HSBC 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 you are obtaining a mortgage with HSBC your lawyer must comply with the conveyancing requirements contained in Part two of UK Finance Lenders’ Handbook for HSBC. The CML Handbook sets out minimum provisions for solar panel roof-space leases, and solicitors are required to report to HSBC where a lease fails to meet these specifications. The specifications relate to the installation of panels on properties nationwide and is not restricted to Waddington.
Should commercial conveyancing searches disclose proposed roadworks that may affect a commercial property in Waddington?
Many commercial conveyancing solicitors in Waddington will order a SiteSolutions Highways report as it reduces the time that conveyancers invest in sourcing accurate data on highways that impact buildings and development assets in Waddington. The search result sets out definitive information on the adoption status of roads, footpaths and verges, as well as the implication of traffic schemes and the rights of way surrounding a commercial development sites in Waddington.
For every commercial conveyancing transaction in Waddington it is critical to investigate the adoption status of roads surrounding a site. Failure to identify developments where adoption procedures have not been dealt with adequately may result in delays to Waddington commercial conveyancing transactions as well as pose a risk to future intentions for the site. These searches are not conducted for residential conveyancing in Waddington.
Given that I will soon spend hundreds of thousands of pounds on a terraced house in Waddington I wish to talk to a lawyer concerning thehome move in advance of giving the go ahead to the firm. Can this be arranged?
This is something that we encourage - we would be delighted to talk to you we do not take any clients on without you liaising with the lawyer who will be carrying out your property ownership legalities in Waddington.There is no ‘factory style conveyancing’ - each client is unique person, not a file number. The solicitors that we put you in touch with believe that the figure you are provided with for your conveyancing in Waddington should be the amount on the final invoice that you end up paying.
I am employed by a busy estate agent office in Waddington where we have witnessed a number of flat sales jeopardised due to leases having less than 80 years remaining. I have been given inconsistent advice from local Waddington conveyancing solicitors. Please can you shed some light as to whether the seller of a flat can initiate the lease extension process for the buyer?
Provided that the seller has been the owner for at least 2 years it is possible, to serve a Section 42 notice to kick-start the lease extension process and assign the benefit of the notice to the purchaser. This means that the buyer need not have to sit tight for 2 years for a lease extension. Both sets of lawyers will agree to form of assignment. The assignment has to be done before, or simultaneously with completion of the disposal of the property.
An alternative approach is to agree the lease extension with the freeholder either before or after the sale. If you are informally negotiating there are no rules and so you cannot insist on the landlord agreeing to grant an extension or transferring the benefit of an agreement to the buyer.
I purchased a basement flat in Waddington, conveyancing formalities finalised in 2003. Can you let me have an estimated range of the fair premium for a lease extension? Corresponding properties in Waddington with an extended lease are worth £202,000. The average or mid-range amount of ground rent is £60 levied per year. The lease ends on 21st October 2082
With only 57 years remaining on your lease we estimate the price of your lease extension to be between £28,500 and £33,000 as well as costs.
The figure that we have given is a general guide to costs for extending a lease, but we are not able to advice on the actual costs in the absence of comprehensive investigations. Do not use this information in a Notice of Claim or as an informal offer. There may be other concerns that need to be taken into account and you obviously should be as accurate as possible in your negotiations. Please do not move forward placing reliance on this information without first seeking the advice of a professional.
I need to find a lender panel solicitor in Waddington. Could you help me?
It is not clear why you need a Waddington panel solicitor but in any event, if you can not find one on our search tool you will need to speak directly to the lender to find out which solicitors in Waddington are on their panel . If you do find such a firm in Waddington not listed please direct them to our site to list. At a fee of one pound per month it is not expensive to register on the site