Is the fact that my conveyancer in Freshwater Bay is not on my mortgage company's conveyancing panel that there is a problem with the quality of the firm’s work?
That is more than likely a wrong assumption to make. There are plenty of reasonable explanations. Just recently a report by the solicitors regulator indicated 76% of law firms surveyed had been removed from at least one lender panel. The most common reasons for removal are: (1) low volume of transactions (2) the solicitor is a sole practitioner (3) as part of the HSBC panel reduction (4) regulatory contact by SRA (5) accidental removal. Should you be concerned you should simply call the Freshwater Bay conveyancing practice and enquire why they are no longer on the approved list for your lender.
I am buying a new build house in Freshwater Bay with a mortgage from TSB. The builders would not reduce the amount so I negotiated five thousand pounds worth of extras instead. The property agent suggested that I not to tell my lawyer about this extras as it would impact my mortgage with TSB. 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.
In what way can the Landlord & Tenant Act 1954 impact my business premises in Freshwater Bay and how can your lawyers assist?
The 1954 Act provides protection to business tenants, giving them the a statutory right to make a request to court for a continuation of occupancy when the lease reaches an end. There are certain specified grounds that a landlord can refrain from granting a lease renewal and the rules are complicated. Fees are different for commercial conveyancing. Freshwater Bay is one of our numerous areas of the UK in which our lawyers are based
My brother has suggested that I appoint his conveyancing solicitors in Freshwater Bay. Should I find my own property lawyer?
There are no two ways about it the ideal way to choose a conveyancing practitioner is to seek guidance from friends or family who have actually experience in using the solicitor that you are contemplating using.
I have just appointed agents to market my 2 bed flat in Freshwater Bay. Conveyancing lawyers have not yet been instructed, however I have just had a quarterly service charge demand – Do I pay up?
It best that you pay the maintenance contribution as you normally would as all ground rent and service charges should be allotted on completion, so you will be reimbursed by the buyer for the period running from after the completion date to the next payment date. Most managing agents will not acknowledge the buyer until the service charges have been paid and are up to date, so it is important for both buyer and seller for the seller to show that they are up to date. This will smooth the conveyancing process.
I am the registered owner of a 2 bed flat in Freshwater Bay, conveyancing was carried out half a dozen years ago. Can you please calculate a probable premium for a statutory lease extension? Equivalent properties in Freshwater Bay with an extended lease are worth £191,000. The average or mid-range amount of ground rent is £55 invoiced every year. The lease finishes on 21st October 2074
With only 53 years unexpired we estimate the price of your lease extension to range between £27,600 and £31,800 as well as costs.
The figure above a general guide to costs for renewing a lease, but we are not able to advice on the actual costs in the absence of detailed due diligence. Do not use the figures 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. Please do not take any other action placing reliance on this information without first seeking the advice of a professional.
Me and my wife accepted an offer on a Freshwater Bay apartment we inherited 8 years ago in 2009. I have over ten years conveyancing know-how and, now retired, intend to conduct the legal work. The buyer's property lawyer has informed me that their mortgage company will not allow us to do our own conveyancing requiring the funds to be transferred to a solicitor's bank account.
Mortgage instructions to conveyancing practitioners from all CML members specify that If the vendor does not have legal representation the buyer’s lawyers should check whether the lender needs to be notified so that a decision can be made as to whether or not they are prepared to move forward.