My fiance and I are planning to acquire a home in Ewloe and have instructed a Ewloe conveyancing practice. Within the last couple of days our solicitor has sent a preliminary report and documents to look through with the expectation that exchange is imminent. Birmingham Midshires have this morning contacted us to inform me that they have now hit a problem as our Ewloe lawyer is not on their conveyancing panel. Is this a problem?
When purchasing a property with mortgage finance it is normal for the purchasers' solicitors to also act for the mortgage company. In order to act for a bank or building society a law firm has to be on that lender's conveyancing panel. An application has to be made by the law firm to the lender to become a member of the lender's panel and there are increasingly strict criteria which the firm has to satisfy and indeed some lenders now require their panel members to be part of the Law Society’s Conveyancing Accreditation Scheme. Your property lawyer should contact your bank and see if they can apply for membership of their conveyancing panel, but if that is not viable they will instruct their own lawyers to represent them. You don't have to instruct a firm on the bank's conveyancing panel as you are at liberty to use your preferred Ewloe lawyers, in which case your legal fees may increase, and it will likely delay the transaction as you are adding another lawyer into the mix.
We are acquiring a newly built apartment in Ewloe and my solicitor is telling me that she is duty bound to the mortgage company to disclose incentives from the builder. I am nearing the developer’s deadline to exchange contracts and I don't want to prolong matters. Is my lawyer right?
You should not exchange unless you have been advised to do so by your lawyer. A precondition to being on a bank panel is to comply with the UK Finance Lenders’ Handbook provisions. The CML Conveyancing Handbook requires that your lawyer have the appropriate Disclosure of Incentive form completed by the developer and accepted by your lender.
I am purchasing a garden flat in Ewloe. How practical is it for me to do the conveyancing?
Leaving aside the complexities and merits of DIY conveyancing in Ewloe you will have to appoint a solicitor on your mortgage company's conveyancing panel to look after their interests. Most people therefore find it easier to let the solicitor act for them and the lender. Furthermore there is minimal cost savings to be made in you doing conveyancing for yourself and another lawyer conducting the conveyancing for the lender. Please feel free to use the search tool to find a lawyer on your lender panel in Ewloe.
I was advised by numerous estate agents in Ewloe to select a conveyancer using your seach tool. Is there a financial inducement for Estate Agents to market your services ahead of a competitor’s?
We don’t offer any referral fee for sending work our way. We found it would be just too difficult a fee because home movers will think, ‘How come the agent getting a kickback? Why aren’t I receiving any benefit too?’ We would prefer to grow our business on genuine recommendations.
Should I instruct a Ewloe conveyancing lawyer in close proximity to the house I am purchasing? I have an old university friend who can handle the conveyancing but his firm is located 400kilometers drive away.
The benefit of a local Ewloe conveyancing practice is that you can drop in to sign paperwork, deliver your identification documents and pester them if necessary. Having local Ewloe know how is a plus. That being said nothing is more important than finding someone that will do a good and efficient job. If you know people who instructed your friend and on the whole were content that should outweigh using an unfamiliar Ewloe conveyancing lawyer solely due to them being based in the area.
My husband and I may need to let out our Ewloe 1st floor flat temporarily due to a career opportunity. We instructed a Ewloe conveyancing practice in 2002 but they have closed and we did not have the foresight to seek any guidance as to whether the lease prohibits the subletting of the flat. How do we find out?
A lease dictates relations between the landlord and you the leaseholder; in particular, it will set out if subletting is not allowed, or permitted but only subject to certain conditions. The rule is that if the lease contains no specific ban or restriction, subletting is permitted. The majority of leases in Ewloe do not prevent strict prohibition on subletting – such a clause would undoubtedly devalue the flat. Instead, there is usually simply a requirement that the owner notifies the freeholder, possibly supplying a copy of the sublease.
I inherited a leasehold flat in Ewloe, conveyancing having been completed 3 years ago. Can you give me give me an indication of the likely cost of a lease extension? Comparable flats in Ewloe with an extended lease are worth £191,000. The ground rent is £55 levied per year. The lease ends on 21st October 2078
With 53 years remaining on your lease we estimate the price of your lease extension to span between £27,600 and £31,800 plus legals.
The suggested premium range 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 may be other concerns that need to be considered and you obviously want to be as accurate as possible in your negotiations. You should not take any other action placing reliance on this information without first getting professional advice.