Are the Wem conveyancing solicitors identified as being on the Yorkshire BS conveyancing panel, together with their details provided by Yorkshire BS?
Wem conveyancing firms themselves provide us confirmation that they are on the Yorkshire BS conveyancing panel as opposed to being supplied with a list from Yorkshire BS directly.
My fiance and I are purchasing a newly converted flat in Wem with a residential mortgage from Platform Home Loans Ltd.We would like to retain our Wem conveyancing practitioner but Platform Home Loans Ltd advised that he's not listed on their "panel". It seems we have little choice but to instruct a Platform Home Loans Ltd panel firm or retain our preferred solicitor and pay for a Platform Home Loans Ltd panel lawyer to act for them. This seems very unfair; Can we not simply insist that Platform Home Loans Ltd use our lawyer?
No, not really. The loan offered to you contains various provisions, a common one being that conveyancers needs to be on the Platform Home Loans Ltd solicitor 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 lawyer to apply to be on the conveyancing panel for Platform Home Loans Ltd
I'm buying my first flat in Wem with a mortgage from Norwich and Peterborough Building Society. The sellers would not move on the amount so I negotiated 6k of additionals instead. The estate agent suggested that I not reveal to my solicitor about the deal as it could affect my mortgage with Norwich and Peterborough Building Society. Is this normal?.
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.
Should I choose a Wem conveyancing solicitor in close proximity to the house I am buying? We have a good friend who can conduct the legal work but they are based a couple of hundredkilometers away.
The benefit of a local Wem conveyancing firm is that you can visit the firm to sign documents, present your identification documents and pester them if necessary. They will also have local knowledge which is a benefit. However it's more important to get someone that will do a good and efficient job. If if people you trust used your friend and they were happy that must trump using an unfamiliar Wem conveyancing solicitor just because they are round the corner.
I would like to rent out my leasehold flat in Wem. Conveyancing solicitor who did the purchase is retired - so can't ask her. Do I need to ask my freeholder for their consent?
Some leases for properties in Wem do contain a provision to say that subletting is only allowed with permission. The landlord is not entitled to unreasonably withhold but, in such cases, they would need to review references. Experience suggests that problems are usually caused by unsatisfactory tenants rather than owner-occupiers and for that reason you can expect the freeholder to take up the references and consider them carefully before granting consent.
I own a 2 bed flat in Wem, conveyancing formalities finalised half a dozen years ago. Can you shed any light on how much the price could be for a 90 year extension to my lease? Corresponding flats in Wem with over 90 years remaining are worth £191,000. The ground rent is £55 invoiced annually. The lease ends on 21st October 2078
With only 53 years unexpired we estimate the price of your lease extension to be between £27,600 and £31,800 plus costs.
The suggested premium range above a general guide to costs for renewing a lease, but we cannot give you the actual costs without more detailed due diligence. Do not use this information in a Notice of Claim or as an informal offer. There may be other issues that need to be considered and you obviously should be as accurate as possible in your negotiations. Please do not move forward based on this information without first seeking the advice of a professional.
Me and my husband accepted an offer on a Wem bungalow left to us six years ago in 2012. I have over 12 years conveyancing know-how and, now retired, see no reason not to carry out the legal work. The purchaser's lawyer has informed me that their bank will not allow us to do our own conveyancing mandating that the funds to be passed via a solicitor's bank account.
Lending requirements to lawyers from all CML members specify that If the seller is not legally represented the buyer’s lawyers should check whether the bank needs to be notified so that a decision can be made as to whether or not they are prepared to move forward.