The Glastonbury conveyancing firm handling our Glastonbury conveyancing has spotted an inconsistency when comparing the assumptions in the valuation survey and what is in the title deeds. My lawyer has advised that he must check that the bank is OK with this discrepancy and is content to go ahead. Is my lawyer’s course or action appropriate?
Your solicitor must comply with the UK Finance Lenders’ Handbook requirements which do require that your lawyer disclose any incorrect assumptions in the lender’s valuation report and the legal papers. Should you refuse to allow your lawyer to make the appropriate notification then your lawyer will have no choice but to discontinue acting for both parties.
We wish to acquire a newly converted apartment in Glastonbury with a homeloan from Alliance & Leicester .We use our Glastonbury conveyancing practitioner but Alliance & Leicester advised that he's not on their "panel". we are left little option but to use a Alliance & Leicester panel lawyer or retain our local solicitor and pay for one of their panel ones to act for them. We feel as though this is unjust; Can we not simply insist that Alliance & Leicester use our lawyer?
Unfortunately,no. The mortgage offered to you is subject to its various provisions, a common one being that lawyers will be on the Alliance & Leicester approved list. in the past, most mortgage companies 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. Another option that might be available is for your solicitors to apply to be on the conveyancing panel for Alliance & Leicester
My aunt pointed out to me me that in buying a property in Glastonbury there may be a number of restrictions as to what one can do in terms of external alterations to a property. Is this right?
We are aware of a number of properties in Glastonbury which have some sort of restriction or requirement of consent to perform external alterations. Part of the conveyancing in Glastonbury should determine what restrictions are applicable and advising you as part of a ROT that should be sent to you.
When it comes to lenders such as Coventry BS, do Glastonbury lawyers have to pay an annual charge to be on the list of approved solicitors?
We are not aware of any bank fees to be on their panel, although some do charge an administration fee to deal with the processing of the conveyancing panel application.
We are getting the release of further funds on our mortgage from Aldermore as we intend to carry out improvements to our home in Glastonbury. Do we need to appoint a bricks and mortar Glastonbury solicitor on the Aldermore conveyancing panel to deal with the paperwork?
Aldermore don't usually appoint firms on their approved list of lawyers to deal with the formalities. If they do require any legal work then you would need to ensure that such a lawyer was on the Aldermore list.
I am purchasing my first flat in Glastonbury with a loan from The Mortgage Works. The builders refused to budge the amount so I negotiated five thousand pounds worth of fixtures and fittings instead. The estate agent told me not reveal to my lawyer about the side-deal as it will impact my loan with the lender. 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.
My wife and I purchased a leasehold flat in Glastonbury. Conveyancing and Birmingham Midshires mortgage organised. A letter has just been received from someone claiming to own the freehold. Attached was a ground rent demand for rent dating back to 1992. The conveyancing solicitor in Glastonbury who previously acted has long since retired. Any advice?
The first thing you should do is contact the Land Registry to make sure that the individual claiming to own the freehold is indeed the new freeholder. There is no need to incur the fees of a Glastonbury conveyancing practitioner to do this as it can be done on-line for less than a fiver. You should note that in any event, even if this is the legitimate landlord, under the Limitation Act 1980 no more than 6 years of rent can be collected.
I am the registered owner of a 1st floor flat in Glastonbury, conveyancing was carried out July 2006. Can you work out an approximate cost of a lease extension? Comparable properties in Glastonbury with an extended lease are worth £260,000. The average or mid-range amount of ground rent is £45 per annum. The lease comes to an end on 21st October 2099
With 74 years left to run we estimate the premium for your lease extension to be between £8,600 and £9,800 as well as legals.
The figure above a general guide to costs for renewing a lease, but we are not able to provide a more accurate figure in the absence of detailed due diligence. You should not use the figures in tribunal or court proceedings. There are no doubt other issues that need to be considered and clearly you want to be as accurate as possible in your negotiations. You should not move forward based on this information before seeking the advice of a professional.
What is the best way to find the right lawyer for my conveyancing in Glastonbury ?
First ask the people you trust they would would seek assistance from. Option 2 is to search the web for conveyancing in Glastonbury. Call a couple or more firms from the list and request that they email you their conveyancing quote and speak to the lawyer who will handle your conveyancing before you make your choice. Third is to make use of this site to assist you in finding the right solicitors for you based on your unique factors including location,speed, complexity and who your intended lender is.Resist the temptation to appoint £99 conveyancing solicitors in Glastonbury