I am not well enough to travel far from Wendover. I would like to know the understand why all Wendover property lawyers aren't automatically on all lender panels?
Mortgage companies highlight the fact that solicitor-led fraud is thought to be responsible for millions of pounds of fraud annually.The elimination of law firms from lender panels started with the rise in mortgage fraud, which prompted a thematic review by the FSA in 2011. Its outcome included recommendations for lending institutions to review their conveyancing panels, which kicked off a major policy change in the sector. It resulted in lenders pruning a number of firms off their books of approved lawyers .
Finally the sale completed on my house in Wendover last December but my buyer keeps whats apping daily to moan that her conveyancer needs to hear from mine. What are the post completion sale formalities now that I have sold?
Post completion of your house sale your solicitor should send the transfer documentation and all additional paperwork to the purchaser's solicitors. Where appropriate, your solicitor must also send confirmation that the mortgage has been discharged to the purchasers solicitors. There are no post completion steps specific conveyancing in Wendover.
Have purchased a a detached house in Wendover , how long will it take for the Land Registry to deal with the formalities evidencing my ownership? My Wendover conveyancing solicitor works at snail pace, so I want to be certain the land registry aspects are concluded.
As far as conveyancing in Wendover registration is no quicker or slower than the rest of the country. Rather than based on location, timescales can adjust depending on who lodges the application, whether it is in order and whether the Land registry must send notices to any third parties. Currently in the region of three quarters of such applications are fully addressed in less than three weeks but occasionally there can be protracted hold-ups. Historically registration occurs once the new owner is living at the premises therefore an expedited registration is not typically top priority but where it is urgent that the the registration takes place urgently then you or your solicitor can communicate with the Registry to express the reasoning for an expedited registration.
I'm purchasing a new build house in Wendover with a loan from Nationwide Building Society. The builders would not budge the price so I negotiated 6k of fixtures and fittings instead. The property agent told me not to tell my lawyer about this deal as it would jeopardize my loan with Nationwide Building Society. Do I keep my lawyer in the dark?.
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.
I decided to have a survey completed on a property in Wendover ahead of appointing conveyancers. I have been advised that there is a flying freehold aspect to the house. The surveyor advised that some lenders may not issue a loan on this type of premises.
It varies from the lender to lender. HSBC has different instructions for example to Nationwide. Should you wish to telephone us we can check via the appropriate lender. If you lender is happy to lend one our lawyers can assist as they are accustomed to dealing with flying freeholds in Wendover. Conveyancing will be smoother if you use a solicitor in Wendover especially if they are familiar with such properties in Wendover.
Estate agents have just been given the go-ahead to market my garden apartment in Wendover. Conveyancing solicitors are to be appointed soon, however I have just received a yearly maintenance charge invoice – Do I pay up?
It best that you pay the invoice as normal because all ground rent and service invoices should be allotted as part of the financial calculations for completion monies, so you should recover the relevant percentage by the buyer for the period running from after the completion date to the subsequent invoice date. Most management companies will not acknowledge the buyer unless the service charges have been paid and are up to date, so it is important for both buyer and seller for the seller to show that they are up to date. Having a clear account will assist your cause and will leave you no worse off financially.
I bought a leasehold flat in Wendover, conveyancing was carried out January 1999. Can you please calculate a probable premium for a statutory lease extension? Corresponding flats in Wendover with an extended lease are worth £171,000. The average or mid-range amount of ground rent is £50 charged once a year. The lease terminates on 21st October 2104
With 79 years remaining on your lease the likely cost is going to be between £8,600 and £9,800 plus plus your own and the landlord's "reasonable" professional fees.
The figure that we have given is a general guide to costs for renewing a lease, but we cannot give you a more accurate figure in the absence of comprehensive investigations. You should not use the figures in tribunal or court proceedings. There may be additional concerns that need to be considered 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 getting professional advice.