I am thinking of refinancing my house in Corby, does my lawyer have to be on the Kent Reliance Conveyancing panel?
In theory, you could use a solicitor that is not on the Kent Reliance conveyancing panel, but Kent Reliance would require one of their panel solicitors to be instructed to act in their interests, and you'd have to pay for this - so most people instruct a panel solicitor. It's also easier, as otherwise you'd have to deal with two solicitors for the same conveyancing matter.
About to purchase house in Corby. I have received an online quote from a licenced conveyancer, which states: "There will be no charge for dealing with the Lender if you are obtaining a mortgage". I take this to mean that there will be no additional fee if the solicitor is on the Coventry BS conveyancing panel. I wanted to make sure it means there will be no additional fees for dealing with the mortgage.
They are simply saying that the cost for acting for the lender is included in the fee being quoted. It is worth you checking that the Corby lawyer is on the Coventry BS conveyancing panel.
Having digested plenty of house buying guides, I note that it is considered advisable to get your house surveyed prior to buying it. When I asked my local Corby solicitor - who is on the Yorkshire BS conveyancing panel - on this she said they don't do this and I need to contract an independent surveyor. is that correct?
Yorkshire BS will need an independent valuation of the property. Your lawyer will not arrange this. Usually Yorkshire BS will appoint their own surveyor to do this, and you will have to pay for it. Remember that this is a valuation for mortgage purposes and not a survey. You may wish to consider appointing your own Corby surveyor to carry out a survey or prepare a home buyers report on the property. It is up to you to satisfy yourself that the property is structurally sound before you buy it. If the survey or report reveals that building work is needed, you should tell your solicitor. You may wish to renegotiate with the seller.
My offer on a semi in Corby has been accepted, but there is a chain. The sellers have offered on on an apartment, but it’s not yet agreed to, and have viewings of other flats in the pipeline. I have instructed a local conveyancing solicitor in Corby. What should be my next step? When should I get the mortgage application with TSB going?
It is normal to have concerns where there is a chain as you are unlikely to want to incur costs prematurely (home loan application is approx one thousand pounds, then survey, Corby conveyancing search charges, etc). First, you must ensure that your lawyer is on the TSB approved list. Regarding the subsequent steps this very much depends on the uniqueness of your case, attraction to this property and on the state of the market. During a buoyant market many buyers will apply for the mortgage with TSB and arrange for the valuation and only if it comes back ok would they ask their conveyancer to proceed with the conveyancing in Corby.
I've recently found out that there is a flying freehold issue on a house I have offered on a fortnight ago in what should have been a simple, chain free conveyancing. Corby is the location of the property. Is there any guidance you can give?
Flying freeholds in Corby are rare but are more likely to exist in relation to terraced houses. Even where you use a solicitor outside Corby you would need to get your solicitor to go through the deeds diligently. Your bank may require your conveyancing solicitor to take out an indemnity policy. Some of the more diligent conveyancing solicitors in Corby may decide 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.
I am downsizing from my home. My past solicitors closed down. I would be grateful for any recommendation of a conveyancing firm. I happen to live in Corby if that makes a difference.
Do use our search tool to help you find a solicitor for your conveyancing in Corby. We have connected thousands of home buyers and sellers with lender approved solicitors to ensure that the legalities of their house move runs with a minimum of fuss.
There are only 62 years left on my lease in Corby. I now want to get lease extension but my landlord is missing. What are my options?
If you meet the appropriate requirements, under the Leasehold Reform, Housing and Urban Development Act 1993 you can submit an application to the County Court for for permission to dispense with the service of the initial notice. This will mean that your lease can be lengthened by the Court. However, you will be required to demonstrate that you have made all reasonable attempts to find the lessor. In some cases an enquiry agent would be helpful to conduct investigations and to produce an expert document to be used as evidence that the landlord is indeed missing. It is wise to seek advice from a property lawyer both on proving the landlord’s absence and the application to the County Court covering Corby.
I bought a split level flat in Corby, conveyancing formalities finalised 9 years ago. Can you let me have an estimated range of the fair premium for a lease extension? Similar properties in Corby with over 90 years remaining are worth £186,000. The ground rent is £55 per annum. The lease ceases on 21st October 2075
You have 52 years left to run the likely cost is going to span between £29,500 and £34,000 plus costs.
The suggested premium range above a general guide to costs for renewing a lease, but we cannot give you the actual costs without more comprehensive investigations. Do not use the figures in tribunal or court proceedings. There are no doubt additional concerns that need to be considered and you obviously want to be as accurate as possible in your negotiations. Please do not move forward based on this information without first getting professional advice.
My step-son is embarking on her first house purchase, the home loan was agreed last week in principle. When the seller agreed the offer on the flat we telephoned the lender to progress the mortgage application. We were very surprised to hear that mortgage lenders do not accept all conveyancer, they must be on their panel, is this right?
Mortgage Companies normally imposes restrictions either the type or the number of conveyancing practices on their panel. Typical examples of such restriction(s) being that a firm must have two or more partners. In addition to restricting the type of firm, some have decided to limit the number of firms they use to represent them. You should note that lenders have no responsibility for the quality of advice provided by any Corby property lawyer on their panel. Mortgage fraud was a key driver in the rationalisation of conveyancing panels a few years ago and whilst there are differing views about the extent of solicitor involvement in some of that fraud. Statistics from the Land Registry reveal that thousands of law firms only carry out one or two conveyances a year. Those supporting conveyancing panel cuts ask why law firms should have the right to be on a Lender panel when clearly, conveyancing is not their speciality. To put it another way; would you want a conveyancing solicitor to represent you if you were charged with a crime? Presumably not.