I can't travel far from Westbourne. Is there a reason why all Westbourne lawyers are not on all lender panels?
Even though it may seem unfair for mortgage companies to limit who can act for them, from the public’s or conveyancer’s viewpoint, the other side of the coin is that banks are becoming ever more anxious and consider it necessary to protect them against illegal activities. As a consequence of this concern lenders have consolidated their panel of approved conveyancing lawyers to a manageable size.
We are getting closer to an exchange on a house in Westbourne and my parents have transferred the 10% deposit to my conveyancing practitioner. I am now advised that as the deposit has been received from someone other than me my conveyancer needs to disclose this to my mortgage company. I am advised that, in also acting for the lender he must advise them that the balance of the purchase price is coming from anyone other than me. I disclosed to the lender concerning my parents' contribution when I applied for the home loan, so is it really necessary for this now to be an issue?
The conveyancer is duty bound to check with the bank to make sure that they are aware that the balance of the purchase price is not from your own resources. The solicitor can only report this to your lender if you permit them to, failing which, your lawyer must cease to continue acting.
I had a mortgage agreed in principle with Coventry BS. Westbourne conveyancing lawyers are appointed. How long does it take for Coventry BS to forward the offer to the conveyancer?
Some lenders take longer than others. Have Coventry BS completed the valuation? Have you informed Coventry BS as to your lawyers' details and checked that your lawyers are on the Coventry BS conveyancing panel? It is not unusual for a mortgage offer to take a month to come through.
I have today made my last payment due on my mortgage with RBS. I assume I don't need a Westbourne conveyancer on the RBS panel to remove the mortgage at the Land Registry. Am I right?
If you have finished paying off your RBS mortgage, they may send you evidence showing that you have paid it off. Alternatively they may notify the Land Registry directly. The Land Registry need to see this evidence before they will remove the RBS mortgage from the register. RBS, and any evidence they send you, will determine the action you need to take. In cases where no conveyancer is acting for you and you have paid off your mortgage:
- but are not moving to another property
- where RBS has sent the Land Registry the discharge electronically, and
- RBS has instructed the Land Registry to do so
I recently had an offer accepted on a house in Westbourne. My financial adviser pressured me to appoint their lawyer. I paid an upfront payment of £150. A couple of days later, the conveyancer called me embarrassingly acknowledging that they were not on the Kent Reliance conveyancing panel. Am I right in thinking that I should be due a refund?
You should be able to recover this from the law firm if they were not on the Kent Reliance panel. They should have asked at the outset which lender you were obtaining a mortgage with. An important lesson to readers of this site is to check that the lawyers are on the appropriate lender panel.
I've recently found out that there is a flying freehold issue on a house I put an offer in last month in what was supposed to be a simple, chain free conveyancing. Westbourne is where the house is located. Is there any guidance you can impart?
Flying freeholds in Westbourne are not the norm but are more likely to exist in relation to terraced houses. Even though you don't necessarily need a conveyancing solicitor in Westbourne you would need to get your solicitor to go through the deeds diligently. Your bank may require your conveyancing solicitor to take out an indemnity policy. Some of the more diligent conveyancing solicitors in Westbourne may ascertain that this is not enough and that the deeds be re-written to give you the most up to date legal protection. If so, the next door neighbour also had to sign up to the revised deeds.It is possible that your lender will not accept the situation so the sooner you find out the better. You should also check with your insurance broker as to whether they will insure a flying freehold property.
Taking into account that I am about to spend 450k on a property in Westbourne I wish to talk to a conveyancer about myhouse move ahead of appointing the firm. Can this be arranged?
We could not agree more - we would be delighted to talk to you we do not take any clients on without you speaking to the lawyer due to be carrying out your conveyancing in Westbourne.There is no ‘factory style conveyancing’ - each client is an important individual, not a case reference. The law firms that we put you in touch with believe that the figure you are calculated and presented to you for residential conveyancing in Westbourne should be the amount on the final invoice that you are charged.
What makes a Westbourne lease unmortgageable?
Leasehold conveyancing in Westbourne is not unique. All leases are drafted differently and legal mistakes in the legal wording can sometimes mean that certain provisions are missing. For example, if your lease is missing any of the following, it could be defective:
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A provision for the recovery of money spent for the benefit of another party.
A defective lease can cause problems when trying to sell a property as they can affect a potential buyer’s ability to obtain a mortgage. Halifax, Norwich and Peterborough Building Society, and Britannia all have very detailed requirements when it comes to what is expected in a lease. Where a lender has been advised by their lawyers that the lease is defective they may refuse to provide security, forcing the purchaser to pull out.
I purchased a 1st floor flat in Westbourne, conveyancing was carried out June 1998. Can you please calculate a probable premium for a statutory lease extension? Comparable flats in Westbourne with a long lease are worth £170,000. The average or mid-range amount of ground rent is £50 charged once a year. The lease ends on 21st October 2104
With only 79 years left to run the likely cost is going to span between £7,600 and £8,800 plus professional fees.
The figure that we have given is a general guide to costs for extending a lease, but we are not able to supply the actual costs without more comprehensive investigations. You should not use this information in tribunal or court proceedings. There may be additional concerns that need to be considered and clearly you should 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.