My wife and I are purchasing a 3 bedroom apartment in West Dean with a mortgage. We have a West Dean solicitor, however the mortgage company advise he's not on their "panel". It seems we have no choice but to select one of the mortgage company panel firms or continue with our West Dean lawyer and pay for one of their panel firms to act for them. We feel that this is inequitable; are we not able to insist that the bank use our West Dean conveyancing practitioner ?
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 bank’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. Another option that might be available is for your West Dean conveyancing solicitor to apply to be on the conveyancing panel.
Our son is purchasing a house that has just been built in West Dean with a home loan from Lloyds. His lawyer has said that there is a delay in receiving the ‘Disclosure of Incentive Form’. This document is news to me - what is it and who needs sight of it?
The form is intended to provide information to the main parties engaged in the transaction. Therefore, it will be provided to your son’s lawyer who should be on the Lloyds conveyancing panel as a standard part of the process, and to the valuer when requested. 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 Lloyds conveyancing panel solicitor as early as possible, in order to avoid any last minute delays, and no later than at exchange of contracts.
We are looking to buy a property and need a conveyancing solicitor in West Dean who is on the Yorkshire BS approved panel. Could you point me in the right direction as regards a solicitor?
Our service is limited to being a directory service for firms who wish to be listed as being on the approved conveyancing panel for Yorkshire BS . We don't recommend any particular firms conducting conveyancing in West Dean.
I got the keys to my house on 5 April and the transaction details is not yet on the land registry website. Need I be worried? My conveyancing solicitor in West Dean expressed confidence that it would be formalised inside ten days. Are properties in West Dean particularly slow to register?
There is nothing unique when it comes to conveyancing in West Dean registration formalities. Rather than based on location, timescales can adjust subject to who lodges the application, whether there are errors and whether the Land registry need to notify any interested parties. Currently roughly 80% of submission are fully addressed in less than three weeks but occasionally there can be longer hold-ups. Historically registration takes place once the new owner has moved in to the property therefore registration formalities is not typically an essential issue yet where it is urgent that the the registration takes place urgently then you or your lawyers can contact the land registry and explain the circumstances.
Just had an offer accepted on a new build apartment in West Dean. Conveyancing is necessary evil at the best of times but I have never purchased a new build flat before. Can you give me some examples of some of the questions asked in new build conveyancing.
Here is a sample of a few leasehold new build questions that you may expect your new-build leasehold conveyancing in West Dean
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The Landlord must covenant to assume the management if the Management Company goes into liquidation or otherwise defaults in running the management scheme. Has the Lease plan been approved by the Land Registry and if not when will they be lodged for this purpose? Please supply a car parking plan. The Lease must contain a provision on behalf of the Vendor to pay the service charges in respect of unoccupied units in order to ensure that all services can be provided. Please confirm the Lease plans are surveyor prepared.
I am looking at a couple of apartments in West Dean which have about forty five years left on the leases. Will this present a problem?
A lease is a legal document that entitles you to use the property for a period of time. As the lease gets shorter the value of the lease decreases and results in it becoming more costly to extend the lease. This is why it is often a good idea to extend the lease term. Sometimes it is difficulties arise selling premises with a short lease as mortgage lenders may be unwilling to lend money on properties of this type. Lease extension can be a protracted process. We recommend you get professional help from a solicitor and surveyor with experience in this field.
I am the registered owner of a studio flat in West Dean, conveyancing was carried out 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? Comparable properties in West Dean with a long lease are worth £180,000. The ground rent is £65 levied per year. The lease ends on 21st October 2083
You have 58 years remaining on your lease the likely cost is going to span between £22,800 and £26,400 as well as professional fees.
The suggested premium range that we have given is a general guide to costs for renewing a lease, but we cannot give you the actual costs without more detailed investigations. Do not use this information in tribunal or court proceedings. There may be additional issues that need to be considered and you obviously want to be as accurate as possible in your negotiations. Please do not take any other action placing reliance on this information before getting professional advice.