I can't travel far from Danbury. Is there a reason why all Danbury property lawyers aren't automatically on all mortgage company panels?
Before the recession most lenders displayed an attitude to risk which differs from the current day. The financial regulator in 2010 carried out a thematic review into mortgage fraud which in summary warned lenders: know the solicitors on your panel. As a result, banks have subsequently soughtmore data from law firms regarding their operations and the staff employed by them and set certain criteria such as completing a minimum number of transactions. Many firms have been excluded from lender panels even though they had an exemplary disciplinary record, no complaints and no claims and didn't just 'dabble' in conveyancing. Many firms found it impossible satisfy the minimum amount of transactions the mortgage companies required.
My husband and I are getting closer to an exchange on a house in Danbury and my mum and dad have sent the 10% deposit to my conveyancing practitioner. I am now advised that as the deposit has been received from someone other than me my conveyancing practitioner needs to disclose this to my bank. I am advised that, in also acting for the bank he must advise them that the balance of the purchase price is not just from me. I disclosed to the bank about my parents' contribution when I applied for the mortgage, so is it really appropriate for this now to delay the deal?
Your conveyancer is duty bound to clarify with lender to make sure that they know that the balance of the purchase price is not from your own resources. The solicitor can only disclose this to your mortgage company if you permit them to, failing which, your lawyer must cease to continue acting.
I got the keys to my house on 6 June and my personal details is not yet on the land registry website. Any reason for this? My conveyancing solicitor in Danbury said it would be dealt with inside ten days. Are titles in Danbury particularly slow to register?
As far as conveyancing in Danbury registration is no quicker or slower than the rest of the country. As opposed to being determined by geographic area, timescales can adjust depending on who lodges the application, whether it is in order and whether the Land registry need to notify any 3rd persons or bodies. As of today roughly 80% of submission are fully addressed within two weeks but some can be subject to protracted delays. Historically registration takes place once the new owner has moved in to the premises so 'speed' is not always primary concern but where it is urgent that the the registration takes place urgently then you or your lawyers could contact the land registry and explain the circumstances.
I was recommended by a few property agents in Danbury to select a property lawyer using your seach tool. Is there a financial incentive for Estate Agents to market your site rather than another?
We don’t make any referral fee for sending work to this site. We thought it would be too underhand a fee because members of the public would think, ‘How come the agent getting a kickback? Why am I not receiving any benefit too?’ So we decided to step away from that.
I have just appointed agents to market my ground floor flat in Danbury. Conveyancing has not commenced, however I have recently had a quarterly maintenance charge invoice – what should I do?
Your conveyancing lawyer is likely to suggest that you should discharge the maintenance contribution as you normally would given that all rents and maintenance charges will be allotted as part of the financial calculations for completion monies, so you will be reimbursed by the purchaser 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 studio flat in Danbury, conveyancing having been completed 3 years ago. Can you please calculate a probable premium for a statutory lease extension? Comparable flats in Danbury with a long lease are worth £206,000. The ground rent is £45 invoiced annually. The lease comes to an end on 21st October 2090
With only 66 years left to run the likely cost is going to span between £12,400 and £14,200 plus plus your own and the landlord's "reasonable" professional fees.
The suggested premium range above a general guide to costs for extending a lease, but we are not able to advice on a more accurate figure without more detailed investigations. You should not use this information in tribunal or court proceedings. There may be additional concerns that need to be taken into account and clearly you should be as accurate as possible in your negotiations. You should not move forward placing reliance on this information before getting professional advice.
I am planning to acquire a house and require a conveyancing solicitor in Danbury who is on the mortgage company approved panel. Can you recommend a Danbury or local Danbury solicitor?
Our service is limited to being a directory service for firms who wish to listed as being on the approved conveyancing panel for the mortgage company who conduct conveyancing in Danbury. We dont recommend any particular solicitor.