We are buying a 2 bedroom apartment in Winton with a mortgage. We have a Winton conveyancer, but the lender says he's not on their "panel". We have to appoint one of the lender panel conveyancing practices or keep our Winton conveyancing practitioner as well as pay for one of their panel ones to represent them. This feels very unfair; is there anything we can do?
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 lender’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 Winton conveyancing lawyer to apply to be on the conveyancing panel.
We see that you have a post code search directory identifying law firms on the HSBC conveyancing panel. Do firms pay you a commission if I retain them for our conveyancing in Winton?
We are a listing service only for law firms wishing to communicate if they are on the HSBC conveyancing panel or other lender panels. We do not charge referral fees to any conveyancer that you subsequently appoint for your conveyancing in Winton.
is it true that all Winton solicitor firms on the HSBC conveyancing panel are overseen by the Solicitors Regulatory Authority?
As a firm of solicitors, in order to be on the HSBC conveyancing panel they would need to be overseen by the Solicitors Regulatory Authority. Many mortgage companies do allow licenced conveyancers on their panel and in such a situation the firms would be regulated by the CLC.
I can not work out if my lender requires a lease extension. I have called into my local Winton building society branch on numerous occasions and was advised it wasn't a problem and they will lend. My Winton conveyancing solicitor - who is on the bank conveyancing panel- telephoned and was told they refuse to lend in accordance with their UK Finance Lenders’ Handbook minimum lease term requirements. Who do I believe?
The conveyancer has to comply with the Council of Mortgage Lenders’ Handbook section two conditions for your lender. Unless your lawyer obtains specific confirmation in writing that the lender will go ahead, your lawyer has no choice but to refrain from exchanging contract and committing you to the purchase. We would suggest that you ask the bank to contact your lawyer in writing confirming that they will accept the number of years remaining.
I have finally had an offer on a maisonette in Winton agreed to, the vendors do nevertheless have a dependent purchase. The owners have placed an offer on somewhere, but it’s not yet tied up, and have viewings of other properties booked. I have instructed a bricks and mortar conveyancing solicitor in Winton. What should be my next step? At what stage should I apply for the mortgage with Clydesdale?
It is normal to have concerns where there is a chain as you are unlikely to want to incur expenses too early (home loan application is approx one thousand pounds, then survey, Winton conveyancing search charges, etc). First, you must check that your conveyancing practitioner is on the Clydesdale approved list. As to the next phase this very much dictated by the specifics of your transaction, motivation for the property and on the state of the market. In a buoyant market some purchasers would apply for a home loan with Clydesdale and pay for the valuation and only if it was satisfactory would they pay their lawyer to proceed with searches.
I have a semi-detached Edwardian property in Winton. Conveyancing lawyer represented me and Aldermore. I happened to do a free search for it on the Land Registry database and there are two entries: one for freehold, the second leasehold under the matching property. I'd like to know for sure, how can I find out??
You should read the Freehold register you have again and check the Charges Register as there may be mention of a lease. The best way to be sure that you are also the registered proprietor of the leasehold and freehold title as well is to check (£3). It is not completely unheard of in Winton and other locations in the country and poses no real issues for owners other than when they remortgage they have to account for both freehold and leasehold interests when dealing with lenders. You can also question the situation with your conveyancing lawyer who completed the work.
I am buying a new build flat in Winton. Conveyancing is necessary evil at the best of times but I have never purchased a new build flat before. What sort of enquires would be asked in new build legal work.
Set out below is a sample of a few leasehold new build enquiries that you can expect your new-build leasehold conveyancing in Winton
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If there are lifts in the building, please confirm that the owners of flats on the ground and basement floors will not be required to contribute towards the cost of maintenance and renewal. The Vendor must covenant to keep unoccupied units in good repair until long leases are granted therefore. Please confirm the Lease plans are architect prepared. Please supply a car parking plan. The Landlord must covenant to assume the management if the Management Company goes into liquidation or otherwise defaults in running the management scheme.
I only have 68 years left on my lease in Winton. I now want to get lease extension but my freeholder is can not be found. What options are available to me?
On the basis that you meet the appropriate requirements, under the Leasehold Reform, Housing and Urban Development Act 1993 you can apply to the County Court for for permission to dispense with the service of the initial notice. This will enable the lease to be granted an extra 90 years by the magistrate. You will be obliged to prove that you have done all that could be expected to find the freeholder. For most situations a specialist should be useful to try and locate and to produce a report which can be used as proof that the landlord can not be located. It is wise to seek advice from a conveyancer in relation to proving the landlord’s disappearance and the application to the County Court overseeing Winton.
I inherited a split level flat in Winton, conveyancing formalities finalised in 2007. Can you work out an approximate cost of a lease extension? Comparable flats in Winton with an extended lease are worth £216,000. The average or mid-range amount of ground rent is £50 invoiced annually. The lease finishes on 21st October 2093
With 68 years remaining on your lease the likely cost is going to be between £9,500 and £11,000 as well as legals.
The suggested premium range above a general guide to costs for renewing a lease, but we cannot give you a more accurate figure in the absence of comprehensive due diligence. You should not use this information 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 take any other action placing reliance on this information before getting professional advice.