We are buying a 1 bedroom flat in Emersons Green with a mortgage. We wish to retain our Emersons Green lawyer, however the lender says she’s not on their "panel". We have to appoint one of the mortgage company panel conveyancing practices or keep our Emersons Green solicitor as well as pay for one of their panel lawyers to act for them. We feel that this is inequitable; can we not demand that the bank use our Emersons Green conveyancer ?
No, not really. Your mortgage offer 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. A further alternative is for your Emersons Green conveyancing solicitor to apply to be on the conveyancing panel.
Me and my brother purchased a semi-detached Victorian house in Emersons Green. Conveyancing lawyer represented me and Norwich and Peterborough Building Society. I happened to do a free search for it on the Land Registry database and there are a couple of entries: the first freehold, another for leasehold under the matching property. Is it worth asking Norwich and Peterborough Building Society to clarify?
You should 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 proprietor of the leasehold and freehold title as well is to check (£3). It is not completely unheard of in Emersons Green and other locations in the country and poses no real issues for owners other than when they buy they have to account for both freehold and leasehold interests when dealing with buyers. You can also check the situation with your conveyancing practitioner who conducted the conveyancing.
I'm buying a new build house in Emersons Green with a mortgage from Santander. The sellers refused to budge the amount so I negotiated 6k of fixtures and fittings instead. The estate agent advised me not disclose to my solicitor about this deal as it will adversely affect 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.
I opted to have a survey done on a property in Emersons Green before instructing conveyancers. I have been informed that there is a flying freehold overhang to the property. The surveyor advised that some lenders tend refuse to give a mortgage on a flying freehold house.
It varies from the lender to lender. Bank of Scotland has different instructions from Birmingham Midshires. If you call us we can check with the appropriate bank. If you lender is happy to lend one our lawyers can help as they are used to dealing with flying freeholds in Emersons Green. Conveyancing may be slightly more expensive based on your lender's requirements.
In searching the web for the phrase on line conveyancing in Emersons Green it shows results of many property lawyersin the area. With so much choice what is the best way to find the suitable property lawyer for me?
The preferential method of finding a suitable conveyancer is through a trusted testimonial, so enquire of friends and family who have purchased a property in Emersons Green or a local estate agent or mortgage broker. Fees for conveyancing in Emersons Green vary, so it's advisable to request a minimum of four costs illustrations from varying types of property lawyers. Be sure to obtain confirmation that the fees are fixed.
I am a negotiator for a reputable estate agent office in Emersons Green where we have experienced a number of leasehold sales put at risk due to leases having less than 80 years remaining. I have received contradictory information from local Emersons Green conveyancing solicitors. Can you clarify whether the seller of a flat can start the lease extension process for the buyer?
As long as the seller has owned the lease for at least 2 years it is possible, to serve a Section 42 notice to start the lease extension process and assign the benefit of the notice to the purchaser. The benefit of this is that the proposed purchaser can avoid having to wait 2 years to extend their lease. Both sets of lawyers will agree to form of assignment. The assignment has to be done before, or at the same time as completion of the sale.
Alternatively, it may be possible to extend the lease informally by agreement with the landlord either before or after the sale. If you are informally negotiating there are no rules and so you cannot insist on the landlord agreeing to grant an extension or transferring the benefit of an agreement to the purchaser.
Leasehold Conveyancing in Emersons Green - A selection of Queries Prior to Purchasing
How much is the ground rent and service charge? How many of the leaseholders are in arrears for their service charge payments?