Unfortunately I am unable to travel far from Barlaston. What is the rationale as to why all Barlaston conveyancers are not on all lender panels?
Mortgage companies point to the fact that solicitor-led fraud is thought to be responsible for millions of pounds of fraud every year.The elimination of law firms off of lender panels started with the rise in mortgage fraud, which prompted a thematic review by the Financial Services Authority in 2011. Its conclusions included recommendations for lending institutions to review their conveyancing panels, which kicked off a major policy change in the sector. This resulted in mortgage companies purging a number of firms from their official list of approved conveyancers .
Please could you recommend a Platform Home Loans Ltd sanctioned Barlaston conveyancing solicitor finish our home move within a very limited time frame? Am I best advised to go for a local Barlaston conveyancer or an online firm?
We would be happy to suggest some excellent Barlaston conveyancing firms. You can also walk up the high street in Barlaston. Visit a couple of firms and ask to see a conveyancing solicitor for a costs illustration. Mention your expectations together with the reasons and get an assurance on speed. Select the lawyer that you are most comfortable with.
We previously appointed conveyancing lawyers with offices in Barlaston on the Kent Reliance solicitor panel. They have just billed me a separate charge for the legal aspects of the Kent Reliance mortgage. Is this an additional conveyancing fee specified by Kent Reliance?
As unfair as it may appear, as long as it’s in their Terms and Conditions or Quote then yes your solicitor can levy a fee for this. This fee is not set by Kent Reliance but by your Barlaston lawyer. Some firms on the Kent Reliance panel will charge an ‘acting for lender’ fee and others do not.
We have agreed to purchase a house in Barlaston. A rare aspect is that the roof has a solar panel. Bank of Ireland have issued a mortgage offer so presumably this is not a concern to them. Why is my solicitor raising questions about the panel?
Given that you are obtaining a mortgage with Bank of Ireland your lawyer must check the formal instructions outlined in Section two of UK Finance Lenders’ Handbook for Bank of Ireland. The CML Handbook sets out minimum provisions for solar panel roof-space leases, and property lawyers are required to report to Bank of Ireland where a lease fails to meet these provisions. The provisions relate to the installation of panels on properties countrywide and is not isolated to Barlaston.
The mortgage over my property is with HSBC for my property in Barlaston. Conveyancing has been completed 12 months ago. If I am intending to rent out my property and do not currently have a buy-to-let mortgage do I need to remortgage to a BTL mortgage or inform HSBC?
HSBC must be informed of your intention before letting out your property as this is likely to be a breach of HSBC’s mortgage conditions. In many cases banks or building societies will allow you to rent out your former home without needing to switch to a buy-to-let mortgage but some lenders will add a surcharge to your mortgage rate to reflect the higher risk. You should contact HSBC directly. It should not be necessary to do this via a HSBC conveyancing panel lawyer.
A colleague suggested that if I am buying in Barlaston I should ask my conveyancer to perform a Neighbourhood, Planning and Local Amenity Search. What does it cover?
This is a search is sometimes quoted for as part of the standard Barlaston conveyancing searches. It is not a small document of about 40 pages, listing and detailing important information about Barlaston around the property and the people living there. It incorporates an Aerial Photograph, Planning Applications, Land Use, Mobile Phone Masts, Rights of Way, the local Housing Market, Council Tax Banding, the demographics of People living in the area, the dominant type of Housing, the Average Property Price, Crime details, Local Education with maps and statistics, Local Amenities and other useful information regarding Barlaston.
Are there restrictive covenants that are commonly picked up as part of conveyancing in Barlaston?
Covenants that are restrictive in nature can be picked up when reviewing land registry title as part of the process of conveyancing in Barlaston. An 1874 stipulation that was seen was ‘The houses to be erected on the estate are each to be of a uniform elevation in accordance with the drawings to be prepared or approved by the vendor’s surveyor…’
I today plan to offer on a house that appears to meet my requirements, at a great figure which is making it more attractive. I have subsequently been informed that it's a leasehold as opposed to freehold. I would have thought that there are particular concerns buying a house with a leasehold title in Barlaston. Conveyancing solicitors have are about to be appointed. Will they explain the issues?
Most houses in Barlaston are freehold and not leasehold. This is one of the situations where having a local solicitor who is familiar with the area who can help the conveyancing process. it is apparent that you are purchasing in Barlaston so you should seriously consider shopping around for a Barlaston conveyancing solicitor and check that they have experience in advising on leasehold houses. First you will need to check the number of years remaining. As a leaseholder you will not be at liberty to do whatever you want with the house. The lease comes with conditions for example obtaining the freeholder’sconsent to carry out changes to the property. It may be necessary to pay a contribution towards the upkeep of the estate where the house is part of an estate. Your conveyancer will report to you on the legal implications.
I acquired a basement flat in Barlaston, conveyancing formalities finalised in 2004. Can you shed any light on how much the price could be for a 90 year extension to my lease? Comparable properties in Barlaston with an extended lease are worth £265,000. The average or mid-range amount of ground rent is £50 yearly. The lease finishes on 21st October 2100
With only 75 years remaining on your lease the likely cost is going to range between £8,600 and £9,800 as well as legals.
The suggested premium range above a general guide to costs for extending a lease, but we cannot give you a more accurate figure without more detailed due diligence. You should not use this information in a Notice of Claim or as an informal offer. There are no doubt other concerns that need to be taken into account and you obviously want to be as accurate as possible in your negotiations. Please do not move forward based on this information before seeking the advice of a professional.