My wife and I are hoping to buy a 1 bedroom apartment in Beaufort with a mortgage. We like our Beaufort solicitor, but the bank says he's not on their "panel". It appears that we have little option but to select one of the mortgage company panel solicitors or retain our Beaufort conveyancer and pay for one of their panel ones to represent them. This seems very unfair; is there anything we can do?
Unfortunately,no. 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 Beaufort conveyancing lawyer to apply to be on the conveyancing panel.
My wife and I intend to remortgage our flat in Beaufort with UBS. We have a son 18 who lives at home. Our solicitor requested us to identify anyone over the age of 17 other than ourselves who reside at the property. Our lawyer has now e-mailed a document for our son to sign, waiving any legal rights in the event that the apartment is forfeited by the lender. I have two concerns (1) Is this form unique to the UBS conveyancing panel as he did not need to sign this form when we remortgaged 5 years ago (2) Does our son by signing this extinguish his rights to inherit the property?
First, rest assured that your UBS conveyancing panel solicitor is doing the right thing as it is established procedure for any occupier who is aged 17 or over to sign the necessary Consent Form, which is purely to state that any rights he has in the property are postponed and secondary to UBS. This is solely used to protect UBS if the property were re-possessed so that in such circumstances, your son would be legally obliged to leave. It does not impact your son’s right to inherit the apartment. Please note that if your son were to inherit and the mortgage in favour of UBS had not been discharged, he would be liable to take over the loan or pay it off, but other than that, there is nothing stopping him from keeping the property in accordance with your will or the rules of intestacy.
I have 71 years unexpired on my lease and require a lease extension for my flat in Beaufort. Conveyancing solicitors on the Chelsea Building Society panel can deal with such extensions right?
Most leasehold conveyancing experts should be able to deal with a lease extension. if you are getting a mortgage then your lender may insist that the lease be extended before competition. Chelsea Building Society have specific requirements as set out in the UK Finance Lenders’ Handbook in relation to minimum unexpired lease terms. As of 19/7/2021 the requirements read as follows :
I am the only beneficiary of my late grandmother’s will and I have everything in my name now, including the my former home in Beaufort. The Beaufort property was put into my name in June. I plan to dispose of the property. I do know about the CML six month 'rule', which means that my proprietorship may be considered the same way as though I had purchased the property in June. Is the property unsalable for six months?
The Council of Mortgage Lenders’ handbook instructs conveyancers to: "report to us immediately if the owner or registered proprietor has been registered for less than six months." By the strict wording you may be affected by that. How practical a view lenders take of it, depend on the bank as this provision principally exists to pick up on subsales or the quick reselling of properties.
is it true that all Beaufort solicitor firms on the UBS conveyancing panel are regulated by the Solicitors Regulatory Authority?
As a firm of solicitors, in order to be on the UBS approved list of solicitors they would need to be overseen by the SRA. Some banks do list licenced conveyancers on their panel in which case such organisation would be overseen by the CLC.
I am due to exchange contracts on my flat. I had a double glazing fitted in January 2010, but did not receive a FENSA certificate or Building Regulation Certificate. My buyer's mortgage company, Santander are being problematic. The Beaufort solicitor who is on the Santander conveyancing panel is saying indemnity insurance will be fine but Santander are insisting on a building regulation certificate. Why do Santander have a conveyancing panel if they don't accept advice from them?
It is probably the case that Santander have referred the matter to their valuer. The reason why Santander may not want to accept indemnity insurance is because it does not give them any reassurance that the double glazing was correctly and safely installed. The indemnity insurance merely protects against enforcement action which is very unlikely anyway.
I am looking for a conveyancing practitioner in Beaufort for my remortgage. Can I see a solicitor's complaints history with the legal regulator?
Anyone may read presented Solicitor Regulator Association (SRA) determinations arising from inquisitions from 2008 onwards. Visit Check a solicitor's record. To find information about the period before 1 January 2008, or to check a solicitors history, telephone 0870 606 2555, 08.00 - 18.00 Monday, Wednesday, Thursday, Friday and 09.30 - 18.00 Tuesday. For non-uk callers, use +44 (0)121 329 6800. The SRA sometimes monitor telephone calls for training reasons.
My wife and I may need to let out our Beaufort ground floor flat temporarily due to taking a sabbatical. We used a Beaufort conveyancing practice in 2001 but they have closed and we did not have the foresight to get any guidance as to whether the lease prohibits the subletting of the flat. How do we find out?
Notwithstanding that your last Beaufort conveyancing lawyer is no longer around you can check your lease to check if you are permitted to let out the property. The accepted inference is that if the deeds are silent, subletting is allowed. Quite often there is a prerequisite that you must seek consent from your landlord or other appropriate person in advance of subletting. This means you not allowed to sublet in the absence of prior permission. The consent must not not be unreasonably turned down. If your lease prohibits you from subletting the property you will need to ask your landlord for their consent.
I own a 1st floor flat in Beaufort, conveyancing having been completed half a dozen years ago. Can you give me give me an indication of the likely cost of a lease extension? Similar flats in Beaufort with an extended lease are worth £255,000. The ground rent is £45 levied per year. The lease ceases on 21st October 2094
With 73 years remaining on your lease we estimate the premium for your lease extension to range between £8,600 and £9,800 as well as costs.
The suggested premium range that we have given is a general guide to costs for renewing a lease, but we are not able to advice on a more accurate figure in the absence of comprehensive due diligence. Do not use this information in a Notice of Claim or as an informal offer. There may be other concerns that need to be taken into account and clearly you should be as accurate as possible in your negotiations. You should not take any other action based on this information without first getting professional advice.