I can't travel far from Elland. I would like to know the logic why all Elland lawyers aren't automatically on all bank panels?
Lenders point to the fact that solicitor-led fraud is thought to be responsible for millions of pounds of fraud every year.The removal of law firms from lender panels started with the rise in mortgage fraud, which prompted a thematic review by the FSA in 2011. Its outcome included recommendations for mortgage companies to review their conveyancing panels, which triggered a major policy change in the sector. It led to mortgage companies removing a number of firms from their official list of approved property lawyers .
I have decided to exercise my right to buy my property in Elland off the council. I have a mortgage offer with RBS. Conveyancing is new to me. Can I proceed without a solicitor easily? I think we can but we keep being told I should use one. Any advice?
It is not advisable to proceed with a house purchase without a solicitor. The council's solicitor are not acting for you. You need a solicitor for a number reasons. One of which is to verify what plans the Council have for repairs and refurbishment for the next five years. Many leaseholders have been stung for contributions of thousands of pounds. In any event, if you are getting a mortgage with RBS, you will need to appoint a solicitor on the RBS conveyancing panel.
The formalities of my remortgage has taken place for my property in Elland. Conveyancing was of an acceptable standard but I feel I should register my dissatisfaction about the lender. Who do I contact should I wish to lodge a complaint?
Most banks and building societies have complaints procedures. Your first port of call should be one of the lender’s branches or the Customer Services Team at head office. Ordinarily complaints to a lender are sorted out very quickly. If you feel the matter is not resolved you can write to Financial Ombudsman Service, South Quay Plaza, 183 Marsh Wall, London E14 9SR who will take matters further.
About to purchase flat in Elland. 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 Santander 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 Elland conveyancer is on the Santander conveyancing panel.
I have a 4 bedroom Victorian property in Elland. Conveyancing solicitor acted for me and Nottingham Building Society. I did a free Land Registry search last week and there are a couple of entries: one for freehold, the second leasehold with the matching property. I thought I was buying a freehold how can I check?
You need to assess the Freehold register you have again and check the Charges Register as there may be 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 Elland and other locations in the country and poses no real issues for owners other than when they sell they have to account for both freehold and leasehold interests when dealing with lenders. You can also question the situation with the conveyancing solicitor who conducted the conveyancing.
I'm purchasing my first flat in Elland benefiting from help to buy. The sellers would not move on the price so I negotiated 6k of fixtures and fittings instead. The estate agent advised me not reveal to my conveyancer about this deal as it would affect my mortgage with the lender. Do I keep my lawyer in the dark?.
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.
Yesterday I discovered that there is a flying freehold issue on a property I put an offer in last month in what was supposed to be a straight forward, chain free conveyancing. Elland is the location of the property. Can you offer any assistance?
Flying freeholds in Elland are not the norm but are more likely to exist in relation to terraced houses. Even where you use a solicitor outside Elland you would need to get your solicitor to go through the deeds thoroughly. Your bank may require your conveyancing solicitor to take out an indemnity policy. Some of the more diligent conveyancing solicitors in Elland may ascertain that this is not enough and that the deeds be re-written to give you the most up to date legal protection. If so, the next door neighbour also had to sign up to the revised deeds.It is possible that your lender will not accept the situation so the sooner you find out the better. You should also check with your insurance broker as to whether they will insure a flying freehold residence.
I've found a house that appears to tick a lot of boxes, at a great figure which is making it more attractive. I have since discovered that it's a leasehold rather than freehold. I would have thought that there are particular concerns buying a house with a leasehold title in Elland. Conveyancing lawyers have not yet been instructed. Will they explain the issues?
The majority of houses in Elland are freehold rather than leasehold. This is one of the situations where having a local conveyancer used to dealing with such properties who can help the conveyancing process. it is apparent that you are purchasing in Elland in which case you should be shopping around for a Elland conveyancing solicitor and be sure that they are used to advising on leasehold houses. As a matter of priority you will need to check the number of years remaining. Being a leaseholder you will not be entirely free to do whatever you want with the house. The lease comes with conditions such as requiring the freeholder’spermission to conduct alterations. You may also be required to pay a service charge towards the maintenance of the communal areas where the property is part of an estate. Your lawyer will report to you on the legal implications.
I own a ground floor flat in Elland, conveyancing having been completed September 1998. Can you let me have an estimated range of the fair premium for a lease extension? Corresponding flats in Elland with a long lease are worth £191,000. The average or mid-range amount of ground rent is £55 per annum. The lease runs out on 21st October 2078
With just 54 years unexpired the likely cost is going to span between £32,300 and £37,400 as well as legals.
The figure above a general guide to costs for extending a lease, but we cannot give you the actual costs in the absence of detailed investigations. You should not use this information in tribunal or court proceedings. There are no doubt additional concerns that need to be taken into account and clearly you should be as accurate as possible in your negotiations. Neither should you move forward placing reliance on this information without first seeking the advice of a professional.