We are due to complete buying a house in Hanslope but as a result of wreckage from some water damage at the property I have was able negotiate compensation from the vendor in the sum of three thousand pounds in the form of a reduction in the price. This was going to be addressed as part of a side agreement but Bank of Ireland are not allowing this. Why were they informed?
The conveyancing practitioner being on a Bank of Ireland approved list is duty bound to disclose to Bank of Ireland of any changes to the sale price. If you were to refuse your conveyancer to report the reduction to Bank of Ireland then they would have to discontinue acting for you. In addition, Bank of Ireland and you would have to appoint a new conveyancing practitioner for your conveyancing in Hanslope.
Are the Hanslope conveyancing solicitors identified as being on the Nottingham conveyancing panel, together with their details provided by Nottingham?
Hanslope conveyancing firms themselves provide us confirmation that they are on the Nottingham conveyancing panel as opposed to being supplied with a list from Nottingham directly.
I have an AIP. The lender mentioned the mortgage came with free conveyancing. Is the implication that I have to use their panel lawyer as I would much rather appoint a local conveyancing solicitor in Hanslope?
You should check but the the probability is that appoint one of their panel lawyers if you accept the "fee-free" incentive. Contact the bank and determine if they offer you a cash alternative. In the past a few lenders offered a £250 cashback as a further option in which case you could put that amount towards the cost for your conveyancing solicitor near Hanslope.
I'm in the process of viewing houses in Hanslope and I am now considering a potential offer. Is it premature to have a solicitor in place? I intend to finance via a mortgage with Bank of Ireland.
It would be advisable to instigate your search sooner rather than later. Once you decide who you want to use and once your offer is accepted you can instruct them to work for you and forward their contact information on to the EA. Given that you are getting a mortgage with Bank of Ireland, make sure you remember to check that your lawyer is on the Bank of Ireland conveyancing panel.
I am due to exchange contracts on my apartment. I had a double glazing fitted in January 2010, but did not receive a FENSA certificate or Building Regulation Certificate. My buyer's lender, Leeds Building Society are being difficult. The Hanslope solicitor who is on the Leeds Building Society conveyancing panel is happy to accept ‘lack of building regulation’ insurance but Leeds Building Society are requiring a building regulation certificate. Why do Leeds Building Society have a conveyancing panel if they don't accept advice from them?
It is probably the case that Leeds Building Society have referred the matter to their valuer. The reason why Leeds Building Society 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 flat in Hanslope. I have received an online quote from a licenced conveyancer, which states: "There will be no charge for dealing with the Lender if you are obtaining a mortgage". I take this to mean that there will be no additional fee if the solicitor is on the Coventry BS 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 Hanslope conveyancer is on the Coventry BS conveyancing panel.
Over the last few months I have been searching for a flat up to £235,500 and found one round the corner in Hanslope I like with amenity areas and transport links in the vicinity, the downside is that it only has 52 remaining years left on the lease. There is not much else in Hanslope suitable, so just wondered if I would be making a grave error buying a short lease?
If you require a home loan that many years will be problematic. Reduce the offer by the amount the lease extension will cost if not already taken into account. If the current proprietor has owned the property for at least twenty four months you could request that they start the process of the extension and then assign it to you. An additional ninety years can be extended on to the existing lease and have £0 ground rent by law. You should consult your conveyancing lawyer concerning this.
Having had my offer accepted I require leasehold conveyancing in Hanslope. Before I set the wheels in motion I would like to find out the remaining lease term.
If the lease is recorded at the land registry - and most are in Hanslope - then the leasehold title will always include the basic details 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 inherited a 2 bed flat in Hanslope, conveyancing was carried out 6 years ago. Can you work out an approximate cost of a lease extension? Comparable flats in Hanslope with over 90 years remaining are worth £202,000. The average or mid-range amount of ground rent is £60 invoiced annually. The lease expires on 21st October 2080
You have 57 years unexpired we estimate the price of your lease extension to be between £28,500 and £33,000 plus plus your own and the landlord's "reasonable" professional fees.
The figure above a general guide to costs for extending a lease, but we cannot give you the actual costs without more comprehensive due diligence. Do not use the figures in a Notice of Claim or as an informal offer. There are no doubt additional issues that need to be considered and you obviously should be as accurate as possible in your negotiations. Please do not take any other action based on this information without first seeking the advice of a professional.