My husband and I are purchasing a 2 bedroom apartment in Eastbourne with a mortgage. We would like to retain our Eastbourne solicitor, but the mortgage company says she’s not on their "panel". It appears that we have no option but to instruct one of the bank panel firms or continue with our Eastbourne solicitor as well as pay for one of their panel ones to represent them. We feel that this is inequitable; are we not able to demand that the mortgage company use our Eastbourne conveyancer ?
No, not really. The mortgage offered to you is subject to its terms and conditions, one of which will be that lawyers will on the lender’s conveyancing panel. Until recently, most lenders had large numbers of law firms on their panels: a borrower could choose one for themselves, as long as it was on the lender's panel. The lender would then simply instruct the borrower's lawyers to act for the lender, too. You can use your lender's panel lawyers or you could borrow from another lender which does not restrict your choice. Another option that might be available is for your Eastbourne conveyancing solicitor to apply to be on the conveyancing panel.
I had a mortgage agreed in principle with Skipton. Eastbourne conveyancing solicitors are chosen. What is the average time that one could expect to receive a mortgage offer from Skipton?
There is no definitive answer here. Have Skipton completed the survey? Have you informed Skipton as to your lawyers' details and checked that your lawyers are on the Skipton conveyancing panel? Sometimes it can take as long as six weeks for a mortgage offer to be issued.
I can not fathom if my lender requires a lease extension. I have called into my local Eastbourne bank branch on various occasions and was told it does not affect the mortgage offer and they would lend. My Eastbourne conveyancing solicitor - who is on the lender conveyancing panel- called and was told they will not lend in accordance with their published requirements. Who do I believe?
Your conveyancer must follow the CML Handbook Part 2 specifications for your bank. Unless your lawyer obtains specific confirmation in writing that the mortgage company will go ahead, your lawyer has no choice but to refrain from exchanging contract and committing you to the purchase. We would suggest that you ask the lender to contact your lawyer in writing confirming that they will accept the number of years left on the lease.
After much negotiation I have agreed a price on a house in Eastbourne. My mortgage broker recommended their conveyancers. I paid an on account payment of £225. A couple of days later, the lawyer contacted me sheepishly admitting that they were not on the TSB conveyancing panel. Am I right in thinking that I should be due a refund?
You should be able to recover this from the law firm if they were not on the TSB panel. They should have asked at the outset which lender you were obtaining a mortgage with. An important lesson to readers of this site is to check that the lawyers are on the appropriate lender panel.
Do I need to pay for insurance to protect me from financial exposure to chancel repairs when purchasing a house in Eastbourne?
Unless a previous acquisition of the premises completed after 12 October 2013 you could expect conveyancing practitioners delivering conveyancing in Eastbourne to remain recommending a chancel search and or insurance against a claim.
I'm purchasing a new build house in Eastbourne with a mortgage from The Mortgage Works. The builders refused to reduce the price so I negotiated £7000 of extras instead. The property agent suggested that I not disclose to my lawyer about the extras as it will jeopardize my mortgage with the lender. Is this normal?.
All lenders require a Disclosure of Incentives Form from the developer 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.
I am 3 weeks into a residential purchase having been referred to conveyancers by the estate agent to handle our conveyancing in Eastbourne. I am not happy. Could you help me find new lawyers?
A conveyancer would have to be very bad in order to consider diss instructing them. Has your mortgage offer been issued? In the event that it has you must advise them of the new contact details and have the mortgage documents are re-issued. Your conveyancer should be on the lenders approved list to avoid added costs and complications. That should be your starting point. Our search tool should assist you in finding a lender approved lawyer for your home move in Eastbourne
Having had my offer accepted I require leasehold conveyancing in Eastbourne. Before I get started I want to be sure as to the unexpired term of the lease.
Assuming the lease is registered - and most are in Eastbourne - then the leasehold title will always include the basic details of the lease, namely the date; the term; and the original parties. From a conveyancing perspective such details then enable any prospective buyer and lender to confirm that any lease they are looking at is the one relevant to that title. For any other purpose, such as confirming how long the term was granted for and calculating what is left, then the register should be sufficient on it's own.
I bought a 1st floor flat in Eastbourne, conveyancing formalities finalised April 1996. How much will my lease extension cost? Comparable flats in Eastbourne with over 90 years remaining are worth £192,000. The ground rent is £55 per annum. The lease ceases on 21st October 2077
With 54 years left to run we estimate the price of your lease extension to span between £32,300 and £37,400 plus costs.
The suggested premium range that we have given is a general guide to costs for extending a lease, but we cannot give you a more accurate figure in the absence of detailed due diligence. You should not use this information in tribunal or court proceedings. There are no doubt other concerns that need to be taken into account and you obviously want to be as accurate as possible in your negotiations. Neither should you take any other action placing reliance on this information before seeking the advice of a professional.