Me and my partner are soon to complete on the purchase of a property in Branston but as a result of damage from the recent storms I have was able negotiate recompense from the seller of three thousand pounds taking the form of a reduction in the price. I had intended this to be dealt with as part of amending the contract yet Co-operative will not permit this. Should they have been informed?
Your solicitor being on a Co-operative approved list is required to inform Co-operative of any amendments to the purchase price. If you prohibit your solicitor to disclose the price change to Co-operative then they would have to discontinue acting for you. In addition, Co-operative and you would have to appoint a new conveyancer for your conveyancing in Branston.
We see that you have a post code search directory identifying law firms on the Nottingham conveyancing panel. Do firms pay you a referral fee if I appoint them for our conveyancing in Branston?
We are a listing service only for law firms wishing to communicate if they are on the Nottingham conveyancing panel or other lender panels. We do not charge referral fees to any conveyancer that you subsequently appoint for your conveyancing in Branston.
I am the only beneficiary of my late father’s estate and I have everything in my name now, including the house in Branston. The Branston property was put into my name in May. I now wish to sell up. I do know about the CML six month 'rule', which means that my proprietorship will be considered the same way as though I had purchased the house in May. Will no one buy the property for half a year?
The Council of Mortgage Lenders’ handbook mandates solicitors to: "report to us immediately if the owner or registered proprietor has been registered for less than six months." Technically you might be impacted by that. many mortgage companies would take a practical view as this obligation chiefly exists to pick up on the purchase and immediately sell or the quick reselling of properties.
When it comes to mortgage companies such as Santander, do Branston conveyancing practitioners face a yearly amount to be on the conveyancing panel?
We are not aware of any bank fees to register on their panel, although some do levy an administration fee to deal with the processing of the conveyancing panel submission.
We had instructed conveyancers locally in Branston on the Leeds Building Society solicitor panel. They are now charging me a supplemental fee for handling the Leeds Building Society mortgage. Is this a supplemental conveyancing fee set by Leeds Building Society?
As unfair as it may appear, as long as it’s in their Terms and Conditions or Quote then yes your conveyancing practitioner is entitled to charge a fee for this. This charge is not set by Leeds Building Society but by your Branston solicitor. Some firms on the Leeds Building Society panel will quote ’dealing with mortgage’ fee but plenty of firms include it on their overall fee.
My wife and I purchased a renovated Georgian property in Branston. Conveyancing lawyer acted for me and Aldermore. I happened to do a free search for it on the Land Registry database and I saw a couple of entries: one for freehold, another for leasehold with the exact same address. I'd like to know for sure, how can I find out??
You need to review the Freehold register you have again and check the Charges Register for mention of a lease. The best way to be sure that you are also the registered owner of the leasehold and freehold title as well is to check (£3). It is not completely unheard of in Branston and other locations in the country and poses no real issues for owners other than when they remortgage they have to account for both freehold and leasehold interests when dealing with lenders. You can also check the position with your conveyancing lawyer who conducted the conveyancing.
I'm purchasing a new build house in Branston with a mortgage from Skipton Building Society. The sellers would not reduce the amount so I negotiated five thousand pounds worth of extras instead. The estate agent advised me not to tell my conveyancer about this deal as it would jeopardize my loan with Skipton Building Society. 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.
I have just appointed agents to market my ground floor apartment in Branston. Conveyancing has not commenced, however I have just had a yearly maintenance charge invoice – Do I pay up?
It best that you pay the invoice as usual as all rents and maintenance invoices will be apportioned as part of the financial calculations for completion monies, so you will be reimbursed by the buyer for the period running from after the completion date to the next payment date. Most managing agents will not acknowledge the buyer unless the service charges have been paid and are up to date, so it is important for both buyer and seller for the seller to show that they are up to date. This will smooth the conveyancing process.
I bought a split level flat in Branston, conveyancing was carried out October 1999. 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? Corresponding properties in Branston with a long lease are worth £216,000. The ground rent is £50 per annum. The lease runs out on 21st October 2096
You have 70 years unexpired the likely cost is going to be between £9,500 and £11,000 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 in the absence of detailed due diligence. Do not use this information in tribunal or court proceedings. There are no doubt additional concerns that need to be considered and clearly you should be as accurate as possible in your negotiations. Neither should you move forward based on this information without first seeking the advice of a professional.