Me and my partner are purchasing residence in Crook. My lawyer is not on the mortgage company solicitor list. Can I still appoint my Crook conveyancing solicitor even though they are excluded from the mortgage company panel?
You have numerous alternatives open to you here
- Carry on with your existing Crook conveyancer but your lender will no doubt appoint a solicitor on their approved list. The net result is additional fees together with likely delay.
- Appoint a fresh conveyancing practitioner to act in the purchase, ensuring that they are on the bank conveyancing panel.
- Convince your conveyancer to seek to join the bank panel
My partner and I intend to remortgage our penthouse in Crook with Skipton. We have a son approaching twenty who lives with us. Our solicitor requested us to identify anyone over the age of 17 other than ourselves who reside at the property. Our lawyer has now e-mailed a document for our son to sign, waiving any legal rights in the event that the property is forfeited by the lender. I have a couple of questions (1) Is this form unique to the Skipton conveyancing panel as he did not need to sign this form when we remortgaged 3 years ago (2) In signing this form is our son in any way compromising his right to inherit the property?
On the face of it your lawyer has done nothing wrong as it is established procedure for any occupier who is aged 17 or over to sign the necessary Consent Form, which is purely to state that any rights he has in the property are postponed and secondary to Skipton. This is solely used to protect Skipton if the property were re-possessed so that in such circumstances, your son would be legally obliged to leave. It does not impact your son’s right to inherit the apartment. Please note that if your son were to inherit and the mortgage in favour of Skipton had not been discharged, he would be liable to take over the loan or pay it off, but other than that, there is nothing stopping him from keeping the property in accordance with your will or the rules of intestacy.
When it comes to mortgage companies such as Santander, do Crook conveyancing practitioners face a yearly amount to be on the conveyancing panel?
We are not aware of any lender fees to register on their list of approved firms, although some do charge an administration charge to deal with the processing of the conveyancing panel application.
I am selling my apartment. I had a double glazing fitted in April 2008, but did not receive a FENSA certificate or Building Regulation Certificate. My purchaser’s lender, Clydesdale are being pedantic. The Crook solicitor who is on the Clydesdale conveyancing panel is saying indemnity insurance will be fine but Clydesdale are requiring a building regulation certificate. Why do Clydesdale have a conveyancing panel if they don't accept advice from them?
It is probably the case that Clydesdale have referred the matter to their valuer. The reason why Clydesdale 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.
My sealed bid on a property in Crook has been accepted, the sellers do nevertheless have a tied purchase. The sellers have put an offer on a flat, but it’s not been accepted yet, and are looking at other properties booked. I have selected a bricks and mortar conveyancing solicitor in Crook. What do I do now? When do I get the mortgage application with UBS going?
It is normal to have concerns where there is a chain as you are unlikely to want to incur costs prematurely (mortgage application is in the region of £1k, then survey, Crook conveyancing search fees, etc). First, you should ensure that your solicitor is on the UBS conveyancing panel. Regarding the next phase this very much dictated by the uniqueness of your transaction, motivation for the property and on the state of the market. In a hot market the majority of purchasers will apply for a home loan with UBS and arrange for the valuation and only if it was satisfactory would they ask their solicitor to press on with searches.
The deeds to my property can not be found. The solicitors who conducted the conveyancing in Crook 10 years ago have long since closed. What are my options?
These day there are duplicates made of almost everything, and your conveyancer should be aware precisely where to find all the appropriate paperwork so you may purchase or dispose of your house without any difficulty. Where duplicates are not available, your solicitor can put in place insurance or indemnities against possible claims on the property.
How does conveyancing in Crook differ for newly converted properties?
Most buyers of new build or newly converted property in Crook approach us having been asked by the seller to sign contracts and commit to the purchase even before the house is constructed. This is because new home sellers in Crook typically acquire the land, plan the estate and want to get the plots sold off as they are building the properties. Buyers, therefore, will have to exchange contracts without actually seeing the house they are buying. To reduce the chances of losing the property, buyers should instruct conveyancers as soon as the property is reserved and mortgage applications should be submitted quickly. Due to the fact that it could be several months and even years between exchange of contracts and completion, the mortgage offer may need to be extended. It would be wise to use a lawyer who specialises in new build conveyancing especially if they are used to new build conveyancing in Crook or who has acted in the same development.
I have recently realised that I have 72 years remaining on my lease in Crook. I need to extend my lease but my landlord is absent. What options are available to me?
If you qualify, 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 granted an extra 90 years by the magistrate. You will be obliged to prove that you or your lawyers have done all that could be expected to find the lessor. In some cases an enquiry agent should be helpful to try and locate and to produce an expert document to be accepted by the court as proof that the freeholder can not be located. It is advisable to get professional help from a conveyancer both on investigating the landlord’s absence and the application to the County Court overseeing Crook.
I purchased a ground floor flat in Crook, conveyancing was carried out half a dozen years ago. How much will my lease extension cost? Equivalent flats in Crook with over 90 years remaining are worth £165,000. The ground rent is £50 yearly. The lease finishes on 21st October 2101
You have 77 years remaining on your lease we estimate the premium for your lease extension to be between £7,600 and £8,800 plus legals.
The figure that we have given is a general guide to costs for extending a lease, but we are not able to supply a more accurate figure without more detailed due diligence. You should not use this information in tribunal or court proceedings. There are no doubt other issues that need to be considered and you obviously want to be as accurate as possible in your negotiations. Neither should you move forward placing reliance on this information before getting professional advice.