Are all Fetcham Conveyancing Quality Solicitors on the Clydesdale conveyancing panel?
A selection of lenders now make use of CQS as the kick off point for Panel membership such as HSBC and Santander. CQS accreditation however gives no guarantee to lender panel acceptance. Nevertheless,the Council of Mortgage Lenders have indicated that it is likely to become a pre-requisite for solicitors wishing to remain on their approved list of conveyancing solicitors.
The mortgage over my property is with Virgin Money for my property in Fetcham. Conveyancing has been completed months ago. Should I wish to rent out my property and do not currently have a buy-to-let mortgage do I need to remortgage to a BTL mortgage or inform Virgin Money?
Your original mortgage agreement with Virgin Money will provide that you need their approval before letting out your property as this is likely to be a breach of Virgin Money’s mortgage conditions. It may be that Virgin Money will permit you to let out your former home without needing to switch to a buy-to-let mortgage but some lenders will add a surcharge to your mortgage rate to reflect the higher risk. You should contact Virgin Money directly. It should not be necessary to do this via a Virgin Money conveyancing panel solicitor.
Completion of my purchase has taken place for my property in Fetcham. Conveyancing was satisfactory but I would like to complain about the lender. How does one go about formally complaining?
Most lenders 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 resolved very quickly. However if you are not satisfied that the matter is not resolved you can write to Financial Ombudsman Service, South Quay Plaza, 183 Marsh Wall, London E14 9SR with full details of your complaint.
I'm purchasing a new build house in Fetcham with the aid of help to buy. The builders refused to reduce the price so I negotiated five thousand pounds worth of additionals instead. The sale representative advised me not to tell my lawyer about this deal as it could put at risk my loan with the bank. Is this normal?.
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 am looking for a flat up to £245,000 and found one close by in Fetcham I like with open areas and transport links nearby, the downside is that it only has 52 years unexpired on the lease. I can't really find anything else in Fetcham suitable, so just wondered if I would be making a grave error buying a lease with such few years left?
If you need a home loan that many years will be an issue. Reduce the price by the amount the lease extension will cost if not already taken into account. If the current proprietor has owned the property for a minimum of 2 years you may ask them to commence the lease extension formalities and then assign it to you. You can add 90 years to the existing lease and have £0 ground rent by law. You should speak to your conveyancing lawyer about this.
Do I need to be wary that estate agents that I am dealing with are encouraging me to use a factory type conveyancing firm rather than a High Street Fetcham conveyancing practice?
As with lots of professional services, often suggestions from family and friends can be extremely useful or valuable. Nevertheless there are lots of players in a conveyancing transaction; estate agents, financial adviser and mortgage companies may put forward lawyers to select. Sometimes the conveyancers might be known to one of the organisations as being good in their field, but occasionally there exists a commercial relationship behind the recommendation. You have the discretion to select your own lawyer. Don't forget that the majority of lenders specify a panel list of solicitors you must use for the lender aspect of your home move.
We are 18 days into a freehold purchase having been recommend to conveyancers by the high street agent to do our conveyancing in Fetcham. I am am very disappointed with the quality of service. Could you help me find new solicitors?
A solicitor would need to be really bad to suggest replacing them. Has your loan offer been sent? In the event that it has you need to inform them of the replacement lawyer and have the offer are re-issued. The conveyancer should be on the banks approved list to avoid added expenses and frustration. So that should be your first question of the new solicitors. Our find a solicitor tool should help you find a lender approved conveyancer for your conveyancing in Fetcham
I am on look out for some leasehold conveyancing in Fetcham. Before I get started I want to be sure as to the remaining lease term.
If the lease is recorded at the land registry - and 99.9% are in Fetcham - then the leasehold title will always include the short particulars 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 invested in buying a studio flat in Fetcham, conveyancing formalities finalised April 1999. Can you shed any light on how much the price could be for a 90 year extension to my lease? Similar properties in Fetcham with over 90 years remaining are worth £185,000. The ground rent is £65 levied per year. The lease terminates on 21st October 2086
With just 60 years unexpired the likely cost is going to be between £20,000 and £23,000 plus professional fees.
The suggested premium range above a general guide to costs for extending a lease, but we cannot give you a more accurate figure without more comprehensive due diligence. Do not use this information in tribunal or court proceedings. There may be other concerns that need to be considered and clearly you want to be as accurate as possible in your negotiations. You should not take any other action based on this information before getting professional advice.