I was advised today by my mortgage broker that my Boroughbridge property lawyer is not on the mortgage company Conveyancing panel. What can I do to check?
The first thing you need to do is to contact your Boroughbridge lawyer directly. It is reasonable to expect your lawyer to advise you of the situation. Where they are not on the panel they could put your in touch with solicitors on the conveyancing panel for your bank.
We wanted to use a property lawyer in Boroughbridge for our home move. Our broker has since advised us that our mortgage lenders Britannia won't deal with them. Why is this not regarded as unduly restrictive?
A lender will direct that a panel conveyancer act for it. Borrowers are expected to meet the charges for this. Do use our search facility to locate a solicitor to carry conveyancing in Boroughbridge on the Britannia member panel.
This question may be naive but I am new to the home buying as FTB of a two bedroom flat in Boroughbridge. Do I collect the keys to the premises on completion from my solicitor? If this is the case, I will instruct a High Street conveyancing solicitor in Boroughbridge?
On the day of completion you do not need to go to the conveyancers office in Boroughbridge. Conveyancing lawyers for you will electronically transfer the completion advance to the seller's solicitors, and shortly after the monies have arrived, you should be able to pick up the keys from the selling Agents and move into your new home. Usually this occurs between 1 and 3pm.
Is it the case that all Boroughbridge CQS (Conveyancing Quality Scheme) solicitors are on the Nottingham conveyancing list of approved solicitors?
A selection of banks and building societies now use CQS as the kick off point for Panel approval such as HSBC and Santander. CQS accreditation however is no guarantee to lender panel acceptance. That being said,the Council of Mortgage Lenders have indicated that it is likely to become a pre-requisite for firms wishing to join their approved list of conveyancing solicitors.
I am selling my house. I had a double glazing fitted in August 2010, but did not receive a FENSA certificate or Building Regulation Certificate. My purchaser’s lender, RBS are being a right pain. The Boroughbridge solicitor who is on the RBS conveyancing panel is saying indemnity insurance will be fine but RBS are insisting on a building regulation certificate. Why do RBS have a conveyancing panel if they don't accept advice from them?
It is probably the case that RBS have referred the matter to their valuer. The reason why RBS 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'm buying a new build house in Boroughbridge with the aid of help to buy. The sellers refused to budge the amount so I negotiated £7000 of additionals instead. The estate agent told me not disclose to my solicitor about the extras as it will put at risk my loan 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.
In what way can the Landlord & Tenant Act 1954 affect my business property in Boroughbridge and how can your lawyers assist?
The 1954 Act affords security of tenure to business tenants, granting the a statutory right to make a request to court for a renewal tenancy and remain in occupation when the lease reaches an end. There are certain specified grounds where a landlord can refuse a lease renewal and the rules are involved. Fees are different for commercial conveyancing. Boroughbridge is one of the numerous locations in which our lawyers are located
I've recently bought a leasehold flat in Boroughbridge. Am I liable to pay service charges for periods before my ownership?
In a situation where the service charge has already been demanded from the previous lessee and they have not paid you would not usually be personally liable for the arrears. Strange as it may seem, your landlord may still be able to take action to forfeit the lease. It is an essential part of leasehold conveyancing for your conveyancer to be sure to have an up to date clear service charge receipt before completion of your purchase. If you have a mortgage this is likely to be a requirement of your lender.
If you purchase part way through an accounting year you may be liable for charges not yet demanded even if they relate to a period prior to your purchase. In such circumstances your conveyancer would normally arrange for the seller to set aside some money to cover their part of the period (usually called a service charge retention).
I am the registered owner of a split level flat in Boroughbridge, conveyancing formalities finalised October 2009. Can you let me have an estimate of the premium that my landlord can legally expect in return for granting a renewal of my lease? Equivalent flats in Boroughbridge with over 90 years remaining are worth £260,000. The ground rent is £45 invoiced every year. The lease comes to an end on 21st October 2099
With only 74 years left to run the likely cost is going to span between £8,600 and £9,800 as well as costs.
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 detailed investigations. You should not use this information in a Notice of Claim or as an informal offer. There are no doubt other issues that need to be considered and clearly you should be as accurate as possible in your negotiations. Neither should you move forward placing reliance on this information before getting professional advice.