I am considering applying for a Bank of Ireland mortgage for purchase of a newly converted (under development) in Walsall with 60% LTV. Is it compulsory to choose a solicitor on the conveyancing panel for Bank of Ireland ?
In theory, you could use a solicitor that is not on the Bank of Ireland conveyancing panel, but Bank of Ireland would require one of their panel solicitors to be instructed to act in their interests, and you'd have to pay for this - so most people instruct a panel solicitor. It's also easier, as otherwise you'd have to deal with two solicitors for the same conveyancing matter.
I am buying my first flat in Walsall with a mortgage from The Royal Bank of Scotland. The sellers would not reduce the amount so I negotiated 6k of additionals instead. The sale representative advised me not disclose to my lawyer about the side-deal as it will adversely affect my mortgage with the lender. 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.
Due to the guidance of my in-laws I had a survey completed on a property in Walsall prior to retaining conveyancers. I have been informed that there is a flying freehold element to the house. My surveyor has said that some banks may refuse to grant a mortgage on such a property.
It depends who your proposed lender is. Santander has different requirements for example to Nationwide. Should you wish to telephone us we can check via the appropriate mortgage company. If you lender is happy to lend one our lawyers can assist as they are accustomed to dealing with flying freeholds in Walsall. Conveyancing can be more complicated and therefore you should check with your conveyancing solicitor in Walsall to see if the conveyancing will be more expensive.
Is it possible to transfer to a new conveyancer as I need to choose one who is on the Lloyds TSB Bank conveyancing panel. I hired a high street conveyancing solicitor in Walsall five minutes from me but she is not approved by Lloyds TSB Bank
We will our best to assist in finding you a conveyancing solicitor in Walsall on the Lloyds TSB Bank panel. Please note that the conveyancers that we work with do not pay us a referral fee if you instruct them and are under regulation of the Solicitors Regulation Authority who oversee all conveyancing solicitors in Walsall. In utilising the find a conveyancing solicitor tool on this website, you can compare fees for conveyancing solicitors in Walsall and throughout England and Wales.
I am intending to sublet my leasehold flat in Walsall. Conveyancing solicitor who did the purchase is retired - so can't ask her. Is permission from the freeholder required?
Your lease governs the relationship between the freeholder and you the leaseholder; in particular, it will set out if subletting is prohibited, or permitted but only subject to certain caveats. The rule is that if the lease contains no specific ban or restriction, subletting is permitted. The majority of leases in Walsall do not contain an absolute prevention of subletting – such a provision would adversely affect the market value the flat. In most cases there is a basic requirement that the owner notifies the freeholder, possibly sending a copy of the sublease.
I purchased a garden flat in Walsall, conveyancing was carried out in 2012. Can you let me have an estimated range of the fair premium for a lease extension? Corresponding flats in Walsall with over 90 years remaining are worth £197,000. The average or mid-range amount of ground rent is £55 per annum. The lease terminates on 21st October 2079
You have 55 years left to run we estimate the price of your lease extension to range between £31,400 and £36,200 as well as costs.
The figure that we have given is a general guide to costs for extending a lease, but we cannot give you the actual costs in the absence of comprehensive investigations. You should not use this information in tribunal or court proceedings. There may be other concerns that need to be taken into account and clearly you should be as accurate as possible in your negotiations. You should not take any other action based on this information before seeking the advice of a professional.
My wife and I have today had an offer accepted on our first home in Walsall, and need to get solicitors lined up. I have utilised the numerous comparison tools and the quotes are from all across the England and Wales. Is it essential to have a Walsall conveyancing practitioner local to the potential new home? I am fine to do all the communicating over the web, but I guess at some stage we may need to attend the conveyancer's office to sign papers?
The lawyer does not need to be in Walsall, but choosing local means that you can go in if you need to, for instance, if a signature is needed urgently. Also, a Walsall solicitor is likely to be familiar with local agents and (if the vendor has instructed a local lawyer) with them, which should help keep things moving faster.