We wanted to use a property lawyer in Halstead for our home move. Our broker has since notified us that our mortgage company Aldermore won't deal with them. Why is this not regarded as unduly restrictive?
Mortgage Companies in the main imposes restrictions either the category or the volume of conveyancing firms on their member panel. Typical examples of such criteria being that a firm must not be a sole practitioner. In addition to restricting the type of firm, a few lenders have limited the amount of firms they use to act for them. Be aware that Aldermore have no responsibility for the quality of advice provided by any member of Aldermore Conveyancer Panel. Mortgage fraud was a key driver in the reduction of solicitor panels since 2008 even though there remains differing opinions about the extent of solicitor involvement in some of that fraud. Figures from the Land Registry indicate that plenty of law firms, including some in or near Halstead only carry out a couple conveyances per annum.
Is it the case that all Halstead solicitor firms on the RBS conveyancing panel are governed by the SRA?
As solicitors, in order to be on the RBS approved list of solicitors they would need to be governed by the Solicitors Regulatory Authority. Some mortgage companies do list licenced conveyancers on their panel in which case such practice would be overseen by the Council of Licensed Conveyancers.
I am due to exchange contracts on my apartment. I had a double glazing fitted in November 2007, but did not receive a FENSA certificate or Building Regulation Certificate. My buyer's mortgage company, Clydesdale are being pedantic. The Halstead solicitor who is on the Clydesdale conveyancing panel is saying indemnity insurance will be fine but Clydesdale are requiring a building regulation certificate. Why do Clydesdale have a conveyancing panel if they don't accept advice from them?
It is probably the case that Clydesdale have referred the matter to their valuer. The reason why Clydesdale may not want to accept indemnity insurance is because it does not give them any reassurance that the double glazing was correctly and safely installed. The indemnity insurance merely protects against enforcement action which is very unlikely anyway.
About to purchase maisonette in Halstead. I have received an online quote from a licenced conveyancer, which states: "There will be no charge for dealing with the Building Society if you are obtaining a mortgage". I take this to mean that there will be no additional fee if the solicitor is on the Nationwide conveyancing panel. I wanted to make sure it means there will be no additional fees for dealing with the mortgage.
They are simply saying that the cost for acting for the lender is included in the fee being quoted. It is worth you checking that the Halstead property lawyer is on the Nationwide conveyancing panel.
I am looking for a leasehold apartment up to £195,000 and identified one round the corner in Halstead I like with open areas and transport links nearby, the downside is that it only has 52 remaining years left on the lease. I can't really find anything else in Halstead suitable, so just wondered if I would be making a mistake buying a short lease?
If you require a mortgage the remaining unexpired lease term will likely be problematic. Reduce the offer by the anticipated lease extension will cost if it has not already been discounted. If the existing owner has owned the premises for a minimum of 2 years you may ask them to start the process of the extension and then assign it to you. An additional ninety years can be extended on to the existing lease term and have £0 ground rent by law. You should consult your conveyancing lawyer about this matter.
I have been sourcing a conveyancing practitioner in Halstead for my house move. Is there any facility to review a firm’s record with the legal regulator?
One may find presented Solicitor Regulator Association (SRA) determinations resulting from inquisitions commenced on or after 1 January 2008. Go to Check a solicitor's record. For information Pre 2008, or to check a solicitors history, call 0870 606 2555, 08.00 - 18.00 Monday, Wednesday, Thursday, Friday and 09.30 - 18.00 Tuesday. For non-uk callers, call +44 (0)121 329 6800. The SRA may recorded telephone calls for training requirements.
I am looking at a couple of flats in Halstead which have about fifty years remaining on the lease term. should I be concerned?
There are plenty of short leases in Halstead. The lease is a right to use the property for a period of time. As a lease shortens the marketability of the lease reduces and results in it becoming more costly to extend the lease. For this reason it is advisable to increase the term of the lease. It is often difficult to sell a property with a short lease because mortgage lenders may be unwilling to lend money on properties of this type. Lease extension can be a difficult process. We recommend you seek professional help from a solicitor and surveyor with experience in this area.
I purchased a 1 bedroom flat in Halstead, conveyancing having been completed 9 years ago. Can you let me have an estimate of the premium that my landlord can legally expect in return for granting a renewal of my lease? Equivalent flats in Halstead with over 90 years remaining are worth £195,000. The average or mid-range amount of ground rent is £45 levied per year. The lease terminates on 21st October 2086
With 63 years remaining on your lease the likely cost is going to span between £16,200 and £18,600 as well as costs.
The suggested premium range that we have given is a general guide to costs for extending a lease, but we are not able to provide a more accurate figure without more comprehensive investigations. Do not use the figures in a Notice of Claim or as an informal offer. There are no doubt other issues that need to be considered and you obviously want to be as accurate as possible in your negotiations. Neither should you move forward placing reliance on this information before getting professional advice.
My mum and dad are unable to locate their Halstead land registry title on the online search facility. They recall that fifty years ago when they bought the bungalow there were complications with the post code not being recognised in some systems.
Almost all premises in Halstead should appear. Have you attempted a search to simply the postcode. Ordinarily it should identify all the properties within the postcode. Assuming the property is recorded it will show up with a title number. If they bought back in the 60’s it's conceivable it may be unrecorded. The property could still be revealed but with the title number identified as 'na'. In this scenario you will need to locate the original title papers which might be with your parent’s lender.