Why do I have to pay up front for my conveyancing in Whiteley?
Where you are retaining lawyers for conveyancing in Whiteley your solicitor will ask you to provide them with monies to cover the search fees. This will be the total of the cost of the Local Authority Search. When the deposit is as part of the sale price then this should be required immediately prior to exchange of contracts. The final balance that is needed will be payable a few days prior to the day of completion.
When scouring moneysavingexpert.com for a recommended lawyer in Whiteley, most say that I must use a CQS assured lawyer. What is CQS?
The Law Society's Conveyancing Quality Scheme is the recognised kitemark for legal experts in home moving process, trusted by some of the UK's biggest mortgage companies. Four years ago the Conveyancing Quality Scheme was officially recognised by the Council of Mortgage Lenders (CML). CQS is not a scheme offered by the Council of Licensed Conveyancing. Whiteley is one of the many areas of the UK where there are CQS solicitors.
Have just purchased a repossessed house at auction in Whiteley. Conveyancing is needed. What are my next steps?
Having to all intents and purposes signed on the dotted line you now have to instruct a conveyancing solicitor soon as you will have a pending a fixed date to complete the purchase. Every auction property should have an associated legal pack. This will include the copy title deeds, local authority and drainage searches. Where you are dealing with leasehold premises the conveyancing papers may include a copy of the lease, management information and a sellers leasehold information form and other conveyancing paperwork pertinent to a leasehold property. You need to pass this on to your appointed conveyancing solicitor as soon as possible. Do make sure that you have funds in place to complete the transaction on the set completion date.
The formalities of my remortgage has taken place for my property in Whiteley. Conveyancing was a necessary evil but I feel I should register my dissatisfaction about the lender. How do I make a complaint?
All lenders have complaints procedures. Your first port of call should be one of the lender’s branches or the Customer Care Department at head office. Ordinarily complaints to a lender are resolved very quickly. However if you are not satisfied that the matter is not resolved you can write to Financial Ombudsman Service who will take matters further.
Kent Reliance have agreed my mortgage in principle, my offer on a house in Whiteley has been agreed to, what happens next?
Your property agent will wish to know who your solicitors are (ensure that the solicitors are on the bank’s panel). Contact Kent Reliance or your broker and complete any outstanding paperwork. Kent Reliance will appoint a valuer who will get in contact with the selling agent or seller to arrange an appointment. Once conducted (assuming no problems) it takes on average a fortnight for the mortgage offer to be issued. Kent Reliance will issue the offer to you and your conveyancers. The legal work will then take it’s course according the nature and complexity of the conveyancing in Whiteley.
I'm purchasing a new build house in Whiteley benefiting from help to buy. The builders would not move on the price so I negotiated five thousand pounds worth of fixtures and fittings instead. The estate agent advised me not to tell my solicitor about this side-deal as it could impact my mortgage with the lender. Is this normal?.
All lenders require a Disclosure of Incentives Form from the builder 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.
Yesterday I discovered that there is a flying freehold issue on a property I put an offer in last month in what should have been a straight forward, no chain conveyancing. Whiteley is where the house is located. What do you suggest?
Flying freeholds in Whiteley are unusual but are more likely to exist in relation to terraced houses. Even though you don't necessarily need a conveyancing solicitor in Whiteley you would need to get your solicitor to go through the deeds thoroughly. Your mortgage company may require your conveyancing solicitor to take out an indemnity policy. Some of the more diligent conveyancing solicitors in Whiteley 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.
I own a leasehold flat in Whiteley. Conveyancing and Nottingham Building Society mortgage went though with no issue. I have received a letter from someone claiming to own the reversionary interest in the property. It included a ground rent demand for rent dating back to 1992. The conveyancing practitioner in Whiteley who previously acted has now retired. Do I pay?
The first thing you should do is contact HMLR to be sure that this person is indeed the registered owner of the freehold reversion. It is not necessary to instruct a Whiteley conveyancing solicitor to do this as you can do this on the Land Registry website for a few pound. You should note that in any event, even if this is the rightful freeholder, under the Limitation Act 1980 no more than 6 years of rent can be collected.
I inherited a 2 bed flat in Whiteley, conveyancing formalities finalised May 1997. Can you please calculate a probable premium for a statutory lease extension? Corresponding flats in Whiteley with an extended lease are worth £222,000. The ground rent is £50 charged once a year. The lease terminates on 21st October 2096
With only 70 years unexpired we estimate the price of your lease extension to range between £9,500 and £11,000 as well as professional fees.
The suggested premium range above a general guide to costs for extending a lease, but we cannot give you a more accurate figure in the absence of comprehensive due diligence. Do not use the figures in a Notice of Claim or as an informal offer. There may be other issues that need to be taken into account and you obviously want to be as accurate as possible in your negotiations. Neither should you move forward placing reliance on this information before getting professional advice.