We wanted to use a property lawyer in Hellesdon for our home move. Our broker informed us that our mortgage lenders Leeds Building Society won't deal with them. Why is this not regarded as unfair competition?
Before the recession most banks had a different appetite for risk. Almost all Hellesdon conveyancing firms would have been on many bank panels. The FSA in 2010 completed a thematic review into mortgage fraud which come to the conclusion: know the conveyancing solicitors dealt with. Consequently, mortgage companies have regularly sought more information from law firms about their operations and their employees as well as establishing certain criteria such a completing on a minimum volume of transactions. Many Hellesdon conveyancing firms that have been excluded from lender panels have a 100% healthy track record, no complaints and no claims and didn't just 'dabble' in conveyancing. Hellesdon is amongst the thousands of locations where the solicitors we list are are approved Leeds Building Society.
When it comes to mortgage companies such as TSB, do Hellesdon property lawyers face a fee to be on the list of approved solicitors?
We are unaware of any lender fees to register on their panel, although some do charge an administration fee to deal with the processing of the conveyancing panel submission.
I have today made my last payment due on my mortgage with Co-operative. I assume I don't need a Hellesdon lawyer on the Co-operative panel to discharge the mortgage at the Land Registry. Please confirm.
If you have finished paying off your Co-operative mortgage, they may send you evidence showing that you have paid it off. Alternatively they may notify the Land Registry directly. The Land Registry need to see this evidence before they will remove the Co-operative mortgage from the register. Co-operative, and any evidence they send you, will determine the action you need to take. In cases where no conveyancer is acting for you and you have paid off your mortgage:
- but are not moving to another property
- where Co-operative has sent the Land Registry the discharge electronically, and
- Co-operative has instructed the Land Registry to do so
I can not fathom if my bank requires a lease extension. I have called into my local Hellesdon bank branch on numerous occasions and was told they are content with the situation and they would lend. My Hellesdon conveyancing solicitor - who is on the mortgage company conveyancing panel- telephoned to say that they refuse to lend based on their specific requirements. I have no idea who is right.
Provided that the solicitor is on the bank approved list, she or he must adhere to the Council of Mortgage Lenders’ Handbook conditions for the bank. Unless your lawyer obtains specific confirmation in writing that the mortgage company will go ahead, your lawyer has no choice but to refrain from exchanging contract and committing you to the purchase. We would suggest that you ask the lender to contact your lawyer in writing confirming that they will accept the number of years remaining.
I used Action Conveyancing a few years past for my conveyancing in Hellesdon. Now, I need the files but cannot find the solicitor. What do I do?
You should call the Solicitors Regulatory Authority (SRA) to help locate your conveyancing files. They can be contacted on please contact on 0870 606 2555. Alternatively, you should use their online form to make an enquiry. You will need to provide the SRA with as much information as possible to assist their search, including the name and address in Hellesdon of the conveyancing firm of solicitors you previously hired, the name of conveyancing solicitor with whom you had dealings, and the date on which you last had dealings with the firm.
I'm buying my first flat in Hellesdon with a mortgage from Aldermore. The builders would not move on the price so I negotiated five thousand pounds worth of fixtures and fittings instead. The sale representative told me not reveal to my lawyer about this extras as it may put at risk my loan with Aldermore. Do I keep my lawyer in the dark?.
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 business partner and I are looking to take an assignment of a lease of an office on the high street. Can you recommend lawyers offering no-move-no costs for commercial conveyancing in Hellesdon for below 1500k?
We can recommend firms who host a wealth of experience of commercial conveyancing in Hellesdon, including the disposal and purchase of businesses as well as simply property. If you are hoping to buy or dispose of a shop, pub, restaurant, office, retail premises or a complete business we can put you in touch with the right solicitor. As for the charges this will depend on the structure and complexity of the proposed transaction. Please provide us with your contact information or call us so that we can supply you with a detailed commercial conveyancing quote.
Back In 2004, I bought a leasehold flat in Hellesdon. Conveyancing and The Royal Bank of Scotland mortgage went though with no issue. A letter has just been received from someone saying they have taken over the freehold. Attached was a ground rent demand for rent dating back to 1994. The conveyancing solicitor in Hellesdon who previously acted has long since retired. Do I pay?
First contact HMLR to make sure that this person is indeed the registered owner of the freehold reversion. There is no need to instruct a Hellesdon conveyancing firm to do this as you can do this on the Land Registry website for less than a fiver. Rest assured 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 inherited a split level flat in Hellesdon, conveyancing having been completed July 2011. 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? Similar properties in Hellesdon with a long lease are worth £216,000. The average or mid-range amount of ground rent is £50 levied per year. The lease expires on 21st October 2096
With 70 years unexpired we estimate the price of your lease extension to range between £9,500 and £11,000 plus legals.
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. You should not use the figures in a Notice of Claim or as an informal offer. There may be other issues that need to be taken into account and you obviously want to be as accurate as possible in your negotiations. Please do not move forward based on this information without first getting professional advice.