Are the Broadstone conveyancing solicitors identified as being on the Aldermore conveyancing panel, together with their details provided by Aldermore?
Broadstone conveyancing firms themselves provide us confirmation that they are on the Aldermore conveyancing panel as opposed to being supplied with a list from Aldermore directly.
I had intended to instruct a property lawyer in Broadstone for our home move. Our broker has since notified us that our mortgage lenders Accord Mortgages Ltd won't deal with them. Surely this is unfair competition?
Before the recession most mortgage companies had an appetite for risk which was higher than today. Almost all Broadstone conveyancing firms would have been on most mortgage company panels. The Financial Services Authority in 2010 completed a thematic investigation into mortgage fraud which concluded: mortgage lenders should know the conveyancing solicitors dealt with. Consequently, lenders have regularly sought more data from law firms regarding their operations and their employees and establishing certain criteria such a completing on a minimum volume of transactions. Many Broadstone conveyancing firms that have been excluded from lender panels have Unblemished track record, no complaints and no claims and didn't just 'dabble' in conveyancing. Broadstone is amongst the thousands of areas where the solicitors we list are members of the panel for Accord Mortgages Ltd.
Can I be sure that the Broadstone conveyancing solicitor on the Aldermore panel is any good?
When it comes to conveyancing in Broadstone getting recommendations is a good starting point. Before you go ahead, check if they offer a no sale no fee offer. Also, you often get what you pay for - a firm which quotes more, will often provide a better service than one which is cheap as chips. We would always advocate that you speak with the solicitor carrying out your conveyancing.
I currently have a mortgage with Kent Reliance for my property in Broadstone. Conveyancing has been completed 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 Kent Reliance?
Your original mortgage agreement with Kent Reliance will provide that you need their approval prior to letting out your property as this is likely to be a breach of Kent Reliance’s mortgage conditions. It may be that Kent Reliance will permit you to let 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 Kent Reliance directly. It should not be necessary to do this via a Kent Reliance conveyancing panel solicitor.
The formalities of my purchase has taken place for my property in Broadstone. Conveyancing was a necessary evil but I feel I should register my dissatisfaction about the lender. Who do I contact should I wish to lodge a complaint?
Almost all banks and building societies have complaints procedures. Your first point of contact should be one of the lender’s branches or the Customer Care Team at head office. In most cases complaints to a lender are sorted out effectively and efficiently. If you feel the matter is not resolved you can write to Financial Ombudsman Service, South Quay Plaza, 183 Marsh Wall, London E14 9SR with full details of your complaint.
I opted to have a survey completed on a property in Broadstone in advance of instructing solicitors. I have been told that there is a flying freehold overhang to the house. Our surveyor has said that some lenders may not grant a mortgage on such a property.
It varies from the lender to lender. HSBC has different instructions from Nationwide. Should you wish to call us we can investigate further with the relevant bank. If you lender is happy to lend one our lawyers can assist as they are used to dealing with flying freeholds in Broadstone. Conveyancing can be more complicated and therefore you should check with your conveyancing solicitor in Broadstone to see if the conveyancing will be more expensive.
In what way does the Landlord & Tenant Act 1954 affect my business premises in Broadstone and how can your lawyers assist?
The particular law that you refer to affords protection to commercial leaseholders, granting the right to apply to court for a new lease and continue in occupation at the end of the lease term. There are certain specified grounds that a landlord can refrain from granting a lease renewal and the rules are complex. Fees are different for commercial conveyancing. Broadstone is one of the numerous locations in which our lawyers are based
Can you offer any advice when it comes to finding a Broadstone conveyancing practice to carry out our lease extension conveyancing?
If you are instructing a solicitor for lease extension works (regardless if they are a Broadstone conveyancing firm) it is essential that they be familiar with the legislation and specialises in this area of conveyancing. We recommend that you talk with several firms including non Broadstone conveyancing practices prior to instructing a firm. Where the conveyancing practice is ALEP accredited then that’s a bonus. The following questions might be of use:
-
What are the costs for lease extension conveyancing? If the firm is not ALEP accredited then what is the reason?
I invested in buying a garden flat in Broadstone, conveyancing having been completed in 2011. Can you shed any light on how much the price could be for a 90 year extension to my lease? Similar flats in Broadstone with an extended lease are worth £175,000. The ground rent is £65 levied per year. The lease expires on 21st October 2084
You have 58 years remaining on your lease we estimate the price of your lease extension to be between £23,800 and £27,400 as well as professional fees.
The figure that we have given is a general guide to costs for extending a lease, but we cannot give you a more accurate figure without more comprehensive investigations. You should not use the figures in tribunal or court proceedings. There may be other concerns that need to be considered and you obviously want to be as accurate as possible in your negotiations. Neither should you take any other action based on this information without first seeking the advice of a professional.