My mortgage broker requires my Bowthorpe solicitor’s panel member for the Nationwide conveyancing panel. Can you suggest how I find this out. I have tried my local Bowthorpe office but they have not responded to me.
You are best placed to get this information from your Bowthorpe solicitor . Most Bowthorpe conveyancing practices will retain a file or database of lender panel information which would include, if applicable, their conveyancing panel details for each mortgage company.
We are a couple about to sign contracts for a semi detached house in Bowthorpe. We have hit a problem. The mortgage offer with Godiva Mortgages Ltd expires on 31/7/2023 but the sellers are suggesting a completion date of 2/8/2023. Can one prolong the mortgage expiry date?
The person best placed to address this concern is your solicitors who will hopefully assess whether they should be discussing with the bank, seller’s representatives, selling agents or indeed all three taking into account the history of your house move to date.
My husband and I are purchasing a newly converted apartment in Bowthorpe with a residential mortgage from Aldermore.We use our Bowthorpe conveyancing lawyer but Aldermore says he's not on their approved list of member firms. we are left little option but to use a Aldermore panel lawyer or retain our local solicitor and fork out for a Aldermore panel lawyer to act for them. This seems very unfair; Can we not simply insist that Aldermore use our lawyer?
Unfortunately,no. The home loan offered to you is subject to its various provisions, one of which will be that solicitors needs to be on the Aldermore conveyancing panel. in the past, most banks 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. A further alternative is for your lawyer to apply to be on the conveyancing panel for Aldermore
We are buying a apartment in Bowthorpe. I might seem paranoid but how we can trust a solicitor? At some point we will need to put funds into their account. What protection do we have from them run away with our monies?
Be assured that all money in a Solicitors client account is 100% safe, and even if your Solicitor ran off with it, the Law Society would reimburse you fully.
I'm in the process of viewing apartments in Bowthorpe and I am now considering a potential offer. Should I already have a conveyancer appointed at this stage? I intend to finance via a mortgage with TSB.
It would be wise to start 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. Given that you are seeking a mortgage with TSB, make sure you remember to check that your lawyer is on the TSB conveyancing panel.
I am selling my flat. I had a double glazing fitted in April 2008, but did not receive a FENSA certificate or Building Regulation Certificate. My purchaser’s lender, Kent Reliance are being problematic. The Bowthorpe solicitor who is on the Kent Reliance conveyancing panel is saying indemnity insurance will be fine but Kent Reliance are insisting on a building regulation certificate. Why do Kent Reliance have a conveyancing panel if they don't accept advice from them?
It is probably the case that Kent Reliance have referred the matter to their valuer. The reason why Kent Reliance 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've recently found out that there is a flying freehold element on a house I have offered on a fortnight ago in what was supposed to be a simple, no chain conveyancing. Bowthorpe is the location of the property. Can you offer any assistance?
Flying freeholds in Bowthorpe are rare but are more likely to exist in relation to terraced houses. Even where you use a solicitor outside Bowthorpe you would need to get your solicitor to go through the deeds thoroughly. Your lender may require your conveyancing solicitor to take out an indemnity policy. Some of the more diligent conveyancing solicitors in Bowthorpe may ascertain that this is not enough and that the deeds be re-written to give you the most up to date legal protection. If so, the next door neighbour also had to sign up to the revised deeds.It is possible that your lender will not accept the situation so the sooner you find out the better. You should also check with your insurance broker as to whether they will insure a flying freehold premises.
My partner and I may need to sub-let our Bowthorpe garden flat temporarily due to a career opportunity. We used a Bowthorpe conveyancing firm in 2003 but they have since shut and we did not think at the time get any guidance as to whether the lease prohibits the subletting of the flat. How do we find out?
Some leases for properties in Bowthorpe do contain a provision to say that subletting is only permitted with prior consent from the landlord. The landlord cannot unreasonably withhold but, in such cases, they would need to review references. Experience dictates that problems are usually caused by unsatisfactory tenants rather than owner-occupiers and for that reason you can expect the freeholder to take up the references and consider them carefully before granting permission.
I bought a basement flat in Bowthorpe, conveyancing was carried out half a dozen years ago. Can you please calculate a probable premium for a statutory lease extension? Corresponding flats in Bowthorpe with over 90 years remaining are worth £191,000. The ground rent is £55 yearly. The lease expires on 21st October 2077
With 54 years left to run we estimate the premium for your lease extension to range between £31,400 and £36,200 as well as plus your own and the landlord's "reasonable" professional fees.
The suggested premium range above a general guide to costs for renewing a lease, but we are not able to provide a more accurate figure without more comprehensive due diligence. You should not use this information in a Notice of Claim or as an informal offer. There may be other concerns that need to be considered and you obviously want to be as accurate as possible in your negotiations. You should not move forward placing reliance on this information before getting professional advice.