I am obtaining a mortgage offer from Lloyds. I intend to employ the services of a Licensed Conveyancer in Dorridge. Does the Lloyds Conveyancing panel allow for conveyancers regulated by the CLC?
The Lloyds approved solicitor list is, like many other lenders, associated to the CML or Building Society Association, open to Licensed Conveyancers regulated by the CLC.
I own a renovated Edwardian property in Dorridge. Conveyancing lawyer acted for me and HSBC Bank. I happened to do a free search for it on the Land Registry database and I saw two entries: the first freehold, another for leasehold under the matching address. I thought I was buying a freehold how can I check?
You should read the Freehold register you have again and check the Charges Register for mention of a lease. The best way to be sure that you are also the registered owner of the leasehold and freehold title as well is to check (£3). It is not completely unheard of in Dorridge and other areas of the country and poses no real issues for owners other than when they mortgage they have to account for both freehold and leasehold interests when dealing with lenders. You can also check the situation with the conveyancing lawyer who conducted the conveyancing.
I am purchasing my first flat in Dorridge with a loan from The Royal Bank of Scotland. The developers refused to move on the amount so I negotiated £7000 of extras instead. The sale representative told me not disclose to my solicitor about the deal as it would put at risk my loan with the bank. Should I keep quiet?.
All lenders require a Disclosure of Incentives Form from the builder of any new build, converted or renovated property, It is available online from the Lenders’ Handbook page on the CML website. CML form is completed and handed to the lender's surveyor when the inspection is done.
Lenders have different policies on incentives. Some accept none at all, cash or physical, while others will accept cash incentives up to 5%.
Hard to understand why the representative of a builder would be suggesting you withold information from a solicitor when all this will be clearly visible on forms the builder has to supply to its solicitor, the buyer's solicitor and the surveyor.
What does commercial conveyancing in Dorridge cover?
Commercial conveyancing in Dorridge covers a broad range of services, offered by qualified solicitors, relating to business property. For example, this type of conveyancing can cover the sale or purchase of freehold business premises or, more usually, the transfer of existing leases or the drafting of new leasing arrangements. Commercial conveyancing solicitors can also offer advice on the sale of business assets, commercial mortgages and the termination of tenancies.
In relation to leasehold conveyancing in Dorridge what are the most common lease problems?
Leasehold conveyancing in Dorridge is not unique. All leases are individual and drafting errors can result in certain clauses are not included. For example, if your lease is missing any of the following, it could be defective:
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A provision to repair to or maintain elements of the premises Service charge per centages that don't add up correctly leaving a shortfall
A defective lease will likely cause issues when trying to sell a property primarily because it impacts on the ability to obtain a mortgage on the property. Accord Mortgages Ltd, Bank of Scotland, and Bank of Ireland all have very detailed conveyancing instructions when it comes to what is expected in a lease. If a mortgage lender believes that the lease does not cover certain provisions they may refuse to grant the mortgage, obliging the purchaser to pull out.
I inherited a split level flat in Dorridge, conveyancing having been completed in 2009. Can you work out an approximate cost of a lease extension? Corresponding flats in Dorridge with an extended lease are worth £197,000. The average or mid-range amount of ground rent is £55 invoiced every year. The lease comes to an end on 21st October 2080
You have 55 years remaining on your lease we estimate the price of your lease extension to be between £31,400 and £36,200 as well as plus your own and the landlord's "reasonable" professional fees.
The figure above a general guide to costs for renewing a lease, but we cannot give you a more accurate figure without more comprehensive investigations. Do not use this information in a Notice of Claim or as an informal offer. There are no doubt additional issues that need to be considered and clearly you should be as accurate as possible in your negotiations. Please do not take any other action based on this information before getting professional advice.
I have checked your search tool I can't find the lawyer I was hoping to instruct as being on the bank conveyancing panel. My lawyer has said that they are on the bank approved panel. How can I be sure given that they are not listed on your directory?
Not all firms are yet listed on our lender panel search tool which is still relatively new. Law firms are listing on a daily basis and it is probably the case that your lawyer is on the mortgage company conveyancing lawyer and you should probably take them at their word. Please do feel free to suggest that they completing their listing on our site as it would only cost them £1 a month to list themselves as being on the lender solicitor panel.