Please help. My Edingale lawyer is advising me that he is legally obliged toapply for Edingale conveyancing searches becausethe firm are on the Virgin Moneyconveyancing panel. Do I not have any say here?
You have limited options available to you. As you are obtaining a mortgage with a mortgage company your conveyancing practitioner has to comply with their conditions as set out in their version of the CML Conveyancing Handbook. Your property lawyer would have previously signed the Terms and Conditions of your bank’s conveyancing panel appointment which obliges them to comply with the Council of Mortgage Lenders’ Handbook conditions . Even if you were a cash buyer you would be ill advised not to carry out Edingale conveyancing searches.
When does exchange of contracts take place for sale conveyancing in Edingale and do I need to attend the solicitors branch?
If you are local to our conveyancing solicitors in Edingale you are welcome to come in to sign the paperwork. However, the law practices we work with supply a nationwide conveyancing service and provide as equally detailed and professional a job for you when communicating with you by post or email. The signing of the property agreement is not the point of no return. A signed contract is just a prerequisite for the solicitor to exchange contracts when the time is right, which will usually be very shortly after signing. The exchange process is nowadays normally dealt with by telephone and can be very rapid, although where a lengthy "chain" is in the mix, since the process requires the relevant party's solicitor (not necessarily a conveyancing solicitor in Edingale)to be in the office available at the end of the phone to exchange contracts.
Me and my partner are buying a house in Edingale. I might seem paranoid but how we can trust a conveyancer? On the day of competition we have to put money into their account. What protection do we have from them run away with our monies?
Be assured that all money in a Solicitors client account is 100% safe, and even if your Solicitor ran off with it, the Law Society would reimburse you fully.
I am selling my apartment. I had a double glazing fitted in December 2007, but did not receive a FENSA certificate or Building Regulation Certificate. My purchaser’s mortgage company, TSB are being a right pain. The Edingale solicitor who is on the TSB conveyancing panel is recommending indemnity insurance as a solution but TSB are requiring a building regulation certificate. Why do TSB have a conveyancing panel if they don't accept advice from them?
It is probably the case that TSB have referred the matter to their valuer. The reason why TSB 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.
Planning on purchasing a apartment in Edingale. I have received an online quote from a licenced conveyancer, which states: "There will be no charge for dealing with the Building Society 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 Edingale property lawyer is on the Coventry BS conveyancing panel.
I'm buying my first flat in Edingale with a loan from Barclays . The sellers refused to reduce the amount so I negotiated 6k of extras instead. The house builders rep advised me not disclose to my solicitor about this extras as it could impact 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.
In my capacity as executor for the will of my aunt I am selling a property in Swansea but I am based in Edingale. My lawyer (based 260 miles awayrequires that I execute a stat dec prior to completion. Could you suggest a conveyancing solicitor in Edingale who can witness this legal document for me?
Technically speaking you are not likely to need to have the documents attested by a conveyancing solicitor. Ordinarily or notary public or qualified solicitor will suffice regardless of whether they are based in Edingale
Last October I purchased a leasehold house in Edingale. Do I have any liability for service charges relating to a period prior to my ownership?
In a situation where the service charge has already been demanded from the previous lessee and they have not paid you would not usually be personally liable for the arrears. However, your landlord may still be able to take action to forfeit the lease. It is an essential part of leasehold conveyancing for your conveyancer to be sure to have an up to date clear service charge receipt before completion of your purchase. If you have a mortgage this is likely to be a requirement of your lender.
If you purchase part way through an accounting year you may be liable for charges not yet demanded even if they relate to a period prior to your purchase. In such circumstances your conveyancer would normally arrange for the seller to set aside some money to cover their part of the period (usually called a service charge retention).
I inherited a leasehold flat in Edingale, conveyancing having been completed 7 years ago. Can you please calculate a probable premium for a statutory lease extension? Similar properties in Edingale with an extended lease are worth £201,000. The average or mid-range amount of ground rent is £45 levied per year. The lease ceases on 21st October 2090
With just 65 years unexpired we estimate the premium for your lease extension to span between £13,300 and £15,400 plus plus your own and the landlord's "reasonable" professional fees.
The suggested premium range that we have given is a general guide to costs for renewing a lease, but we cannot give you a more accurate figure in the absence of detailed due diligence. Do not use the figures in tribunal or court proceedings. There are no doubt additional issues that need to be taken into account and clearly you want to be as accurate as possible in your negotiations. Please do not take any other action placing reliance on this information before seeking the advice of a professional.