My husband and I are buying a newly constructed flat in Chorley and Eccleston and my conveyancer is informing me that she has to the lender to reveal incentives from the builder. The Estate Agents are hassling me to exchange contracts and I don't want to delay deal. is my lawyer playing by the book?
You should not exchange unless you have been advised to do so by your lawyer. A precondition to being on a bank panel is to comply with the UK Finance Lenders’ Handbook provisions. The CML Conveyancing Handbook requires that your lawyer have the appropriate Disclosure of Incentive form completed by the developer and accepted by your lender.
Do the Building Society Association intend to launch a search tool with a view to to identify firms on the Earl Shilton BS conveyancing panel for example in Chorley and Eccleston?
We are not aware of any plans on the part of the BSA to develop such a tool.
Is it the case that all Chorley and Eccleston solicitor practices on the Principality conveyancing panel are overseen by the SRA?
As solicitors, in order to be on the Principality conveyancing panel they would need to be governed by the SRA. The majority of lenders do list licenced conveyancers on their panel in which case such firms would be governed by the CLC.
We are getting a further advance on our mortgage from HSBC as we wish to carry out improvements to our home in Chorley and Eccleston. Do we need to select a local Chorley and Eccleston solicitor on the HSBC conveyancing panel to deal with the paperwork?
HSBC do not ordinarily appoint a member of their approved list of lawyers to deal with the formalities. If they do require any legal work then you would need to ensure that such a lawyer was on the HSBC list.
I am currently in the process of buying my council flat in Chorley and Eccleston. I have a mortgage agreed with Coventry BS. Conveyancing is new to me. Can I proceed without a solicitor easily? I think we can but we keep being told I should have one. Any advice?
It is not advisable to proceed with a house purchase without a solicitor. The council's solicitor are not acting for you. You need a solicitor for a number reasons. One of which is to verify what plans the Council have for repairs and refurbishment for the next five years. Many leaseholders have been stung for contributions of thousands of pounds. In any event, if you are getting a mortgage with Coventry BS, you will need to appoint a solicitor on the Coventry BS conveyancing panel.
It has been five months since my purchase conveyancing in Chorley and Eccleston took place. I have checked the Land Registry website which shows that I paid £175,000 when infact I paid £160,000. Why the discrepancy?
The price paid figure is taken from the application to register the purchase. It is the figure included in the Transfer (the legal deed which transfers the premises from one person to the other) and referred to as the 'consideration' or purchase price. You can report an error in the price paid figure using the LR online form. In most cases errors result from typos so at first glance the figure. Do report it so they can double check and advise.
Should I appoint a Chorley and Eccleston conveyancing practitioner who is local to the property I am hoping to buy? An old friend can conduct the legal work however they are based a couple of hundredmiles drive away.
The benefit of a local Chorley and Eccleston conveyancing practice is that you can visit the firm to sign documents, present your ID and pester them where appropriate. Having local Chorley and Eccleston know how is a benefit. That being said it's more important to get someone that will do a good and efficient job. If other friends have used your friend and in the main were content that must surpass using an unfamiliar Chorley and Eccleston conveyancing lawyer just because they are round the corner.
I own a leasehold flat in Chorley and Eccleston. Conveyancing and Barclays mortgage organised. A letter has just been received from someone saying they have taken over the freehold. Attached was a ground rent demand for rent dating back to 1993. The conveyancing practitioner in Chorley and Eccleston who previously acted has now retired. Any advice?
First contact HMLR to make sure that this person is in fact the registered owner of the freehold reversion. There is no need to instruct a Chorley and Eccleston conveyancing lawyer to do this as it can be done on-line for a few pound. You should note that in any event, even if this is the rightful freeholder, under the Limitation Act 1980 the limitation period for recovery of ground rent is six years.
I invested in buying a 1st floor flat in Chorley and Eccleston, conveyancing was carried out July 2005. How much will my lease extension cost? Equivalent flats in Chorley and Eccleston with a long lease are worth £192,000. The average or mid-range amount of ground rent is £55 per annum. The lease ceases on 21st October 2080
You have 54 years unexpired the likely cost is going to range between £32,300 and £37,400 as well as professional fees.
The figure above a general guide to costs for extending a lease, but we are not able to provide 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 concerns that need to be considered and clearly you want to be as accurate as possible in your negotiations. Neither should you move forward placing reliance on this information without first seeking the advice of a professional.