Unfortunately I am unable to travel far from Waltham. What is the rationale as to why all Waltham conveyancers are not on all lender panels?
Banks highlight the fact that solicitor-led fraud is considered to be responsible for millions of pounds of fraud annually.The removal of law firms off of lender panels started with the rise in mortgage fraud, which prompted a thematic review by the Financial Services Authority in 2011. Its outcome included recommendations for lending institutions to review their conveyancing panels, which kicked off a major policy change in the sector. This led to mortgage companies removing a number of firms off their panel of approved lawyers .
My son-in-law is buying a newly built flat in Waltham with a mortgage from TSB. His solicitor has said that there is a delay in completing the ‘Disclosure of Incentive Form’. Who needs to receive the form?
The form is intended to provide information to the main parties engaged in the purchase. Therefore, it will be provided to your son’s lawyer who should be on the TSB conveyancing panel as a standard part of the process, and to the surveyor when asked. The developer will be required to start the process by downloading the form and completing it. The form will therefore need to be available for the valuer at the time of his or her site visit. The form should be sent to the TSB conveyancing panel solicitor as early as possible, in order to avoid any last minute delays, and no later than at exchange of contracts.
My house in Waltham is up for sale and I have a purchaser. Does the conveyancer have to be required to be on the UBS conveyancing panel in order to deal with repayment of my mortgage?
Ordinarily, even if your lawyer is not on the UBS conveyancing panel they can still act for you on your sale. It might be that the lender will not release the original deeds (if applicable and increasingly irrelevant) until after the mortgage is paid off. You should speak to your lawyer directly before you start the process though to ensure that there is no problem as lenders are changing their specifications fairly frequently in recent years.
I need some fast conveyancing in Waltham as I am faced with pressure to sign on the dotted line in less than 3 weeks. Fortunately I do not need a mortgage. Can I escape the need for conveyancing searches to save money and time?
If.Given you are not getting a mortgage you are at liberty not to have searches conducted although no lawyer would recommend that you don't. Drawing on our experience of conveyancing in Waltham the following are examples of issues that can show up and therefore affect market value: Refused Planning Applications, Outstanding Fees, Overdue Grants, Unadopted Roads,...
My cousin has recommend that I use his conveyancers in Waltham. Do I take his guidance?
There are no two ways about it it’s preferable to find a conveyancing solicitor is to have referrals from friends or relatives who have actually experience in using the conveyancer you're considering.
I am looking at a two maisonettes in Waltham both have about fifty years left on the lease term. Should I regard a short lease as a deal breaker?
A lease is a legal document that entitles you to use the premises for a period of time. As a lease shortens the marketability of the lease decreases and it becomes more expensive to acquire a lease extension. This is why it is advisable to increase the term of the lease. Sometimes it is difficult to sell a property with a short lease because mortgage lenders less inclined to grant a loan on properties of this type. Lease extension can be a difficult process. We advise that you get professional help from a solicitor and surveyor with experience in this field.
I bought a leasehold flat in Waltham, conveyancing having been completed in 2002. Can you shed any light on how much the price could be for a 90 year extension to my lease? Similar flats in Waltham with a long lease are worth £186,000. The ground rent is £55 yearly. The lease ends on 21st October 2078
You have 53 years left to run the likely cost is going to range between £27,600 and £31,800 plus legals.
The figure that we have given is a general guide to costs for renewing a lease, but we are not able to advice on the actual costs without more detailed investigations. You should not use the figures in tribunal or court proceedings. There are no doubt other issues that need to be taken into account and clearly you want to be as accurate as possible in your negotiations. You should not move forward placing reliance on this information without first seeking the advice of a professional.