It has come to my attention via my financial adviser that my Speke lawyer is not on the mortgage company Solicitor panel. How can I check?
The sensible course of action for you to take is to call your Speke conveyancer. It is reasonable to expect your lawyer to inform you what has happened. Where they are not on the panel they could put your in touch with solicitors on the approved list of lawyers for your bank.
After scouring consumer advice sites for a conveyancing lawyer in Speke, most comment that I should instruct a CQS accredited solicitor. Can you explain what CQS is?
The Law Society's Conveyancing Quality Scheme is the recognised quality mark for legal experts in home moving process, trusted by some of the UK's leading lenders. Four years ago the Conveyancing Quality Scheme was officially recognised by the Association of British Insurers (ABI). CQS is not a scheme offered by the Council of Licensed Conveyancing. Speke is one of the numerous areas in England and Wales where there are Accredited solicitors.
We previously chose conveyancers based in Speke on the Coventry BS solicitor approved list. They have just invoiced me a separate charge for dealing with the Coventry BS mortgage. Is this a supplemental conveyancing fee specified by Coventry BS?
As unfair as it may seem, as long as it’s in their Terms of Engagement or Quote then yes your property lawyer may levy a fee for this. The fee is not set by Coventry BS but by your Speke property lawyer. Plenty of firms on the Coventry BS panel will levy ’dealing with mortgage’ fee and others do not.
My partner and I are in the process of viewing apartments in Speke and I am about to put in an offer. Should I already have a property lawyer in place at this stage? I am planning to take a home loan with Skipton.
It would be advisable to instigate your search sooner rather than later. After you have chosen your lawyer and once your offer is accepted you can instruct them to work for you and forward their details on to the EA. As you are taking out a mortgage with Skipton, make sure you remember to check that your lawyer is on the Skipton conveyancing panel.
I was told four weeks ago that my mortgage has been agreed to by Santander. Is it usual for Santander to only issue the offer once my solicitor in Speke is approved on their conveyancing panel? Santander have asked my solicitor to see a copy of their PI Insurance.
Mortgage companies tend not to not issue an offer until they have details of a lawyer on their panel. It can take a few weeks for Santander to deal with your lawyer's application to be on the Santander conveyancing panel. There's no guarantee that your solicitor will be accepted.
What does a local search reveal regarding the house we're buying in Speke?
Speke conveyancing often starts with the ordering local authority searches directly from your local Authority or via a personal search organisations such as PSG The local search plays a central part in many a Speke conveyancing purchase; that is if you wish to avoid any nasty once you have moved into your new home. The search will reveal data on, amongst other things, details on planning applications relevant to the premises (whether granted or refused), building control history, any enforcement action, restrictions on permitted development, nearby road schemes, contaminated land and radon gas; in all a total of thirteen topic headings.
I'm purchasing my first flat in Speke benefiting from help to buy. The builders refused to budge the price so I negotiated 6k of additionals instead. The house builders rep advised me not inform my solicitor about this extras as it may jeopardize my loan with Britannia. Is this normal?.
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.
Having checked my lease I have discovered that there are only 62 years remaining on my lease in Speke. I need to get lease extension but my freeholder is missing. What should I do?
On the basis that you qualify, under the Leasehold Reform, Housing and Urban Development Act 1993 you can submit an application to the County Court for for permission to dispense with the service of the initial notice. This will mean that your lease can be granted an extra 90 years by the Court. You will be obliged to demonstrate that you have done all that could be expected to locate the landlord. In some cases a specialist may be useful to carry out a search and to produce an expert document to be used as evidence that the freeholder can not be located. It is wise to seek advice from a property lawyer both on devolving into the landlord’s disappearance and the vesting order request to the County Court overseeing Speke.
I own a garden flat in Speke, conveyancing having been completed 8 years ago. Can you work out an approximate cost of a lease extension? Corresponding flats in Speke with a long lease are worth £206,000. The average or mid-range amount of ground rent is £45 invoiced every year. The lease terminates on 21st October 2091
With just 67 years unexpired we estimate the premium for your lease extension to be between £10,500 and £12,000 as well as legals.
The figure that we have given is a general guide to costs for renewing a lease, but we cannot give you the actual costs without more comprehensive due diligence. You should not use this information in a Notice of Claim or as an informal offer. There may be additional issues that need to be considered and clearly you want to be as accurate as possible in your negotiations. Please do not move forward placing reliance on this information without first getting professional advice.