Two weeks ago we had a mortgage agreed in principle with Clydesdale. Kings Norton conveyancing practitioners were instructed. What is the average time that one could expect to receive a mortgage offer from Clydesdale?
There is no definitive answer here. Have Clydesdale completed the survey? Have you advised Clydesdale as to your lawyers' details and checked that your lawyers are on the Clydesdale conveyancing panel? Sometimes it can take as long as six weeks for a mortgage offer to be issued.
I have decided to exercise my right to buy my property in Kings Norton off the council. I have a mortgage offer with Lloyds. Conveyancing is new to me. Can I proceed without a solicitor easily? I think we can but we keep being told I should have one. Any advice?
It is not advisable to proceed with a house purchase without a solicitor. The council's solicitor are not acting for you. You need a solicitor for a number reasons. One of which is to verify what plans the Council have for repairs and refurbishment for the next five years. Many leaseholders have been stung for contributions of thousands of pounds. In any event, if you are getting a mortgage with Lloyds, you will need to appoint a solicitor on the Lloyds conveyancing panel.
About to purchase maisonette in Kings Norton. 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 Lloyds 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 Kings Norton solicitor is on the Lloyds conveyancing panel.
I am buying a new build house in Kings Norton benefiting from help to buy. The builders refused to reduce the price so I negotiated five thousand pounds worth of extras instead. The house builders rep advised me not disclose to my conveyancer about this deal as it would affect my mortgage with the lender. 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.
I opted to have a survey completed on a property in Kings Norton before appointing conveyancers. I have been informed that there is a flying freehold aspect to the house. The surveyor has said that some banks will not grant a mortgage on a flying freehold property.
It depends who your proposed lender is. Santander has different requirements for example to Nationwide. Should you wish to telephone us we can check with the appropriate lender. If you lender is happy to lend one our lawyers can assist as they are used to dealing with flying freeholds in Kings Norton. Conveyancing may be slightly more expensive based on your lender's requirements.
I need to instruct a conveyancing solicitor for some conveyancing in Kings Norton. I have chance upon a site which looks to be the ideal answer If there is a chance to get all this stuff completed via email that would be preferable. Do I need to be concerned? What should out be looking out for?
As usual with these online conveyancers you need to read ALL the small print - did you notice the extra charge for dealing with the mortgage?
Back In 2001, I bought a leasehold flat in Kings Norton. Conveyancing and Godiva Mortgages Ltd mortgage are in place. I have received a letter from someone saying they have taken over the reversionary interest in the property. Attached was a demand for arrears of ground rent dating back to 1994. The conveyancing solicitor in Kings Norton who previously acted has now retired. Any advice?
The first thing you should do is make enquiries of HMLR to be sure that this person is in fact the registered owner of the freehold reversion. You do not need to incur the fees of a Kings Norton conveyancing lawyer to do this as you can do this on the Land Registry website for less than a fiver. You should note that regardless, even if this is the rightful landlord, under the Limitation Act 1980 no more than 6 years of rent can be collected.
I am the registered owner of a 2 bed flat in Kings Norton, conveyancing was carried out 3 years ago. Can you please calculate a probable premium for a statutory lease extension? Similar properties in Kings Norton with over 90 years remaining are worth £192,000. The ground rent is £55 yearly. The lease runs out on 21st October 2075
With only 54 years remaining on your lease we estimate the premium for your lease extension to be between £32,300 and £37,400 as well as professional fees.
The figure that we have given is a general guide to costs for renewing a lease, but we cannot give you the actual costs in the absence of detailed due diligence. You should not use this information in a Notice of Claim or as an informal offer. There are no doubt additional issues 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 based on this information without first getting professional advice.
What is the reason for my lawyer requiring various items of ID ahead of starting selling or purchasing a property in Kings Norton?
Kings Norton lawyers are obliged by the Law Society, Solicitors Regulation Authority, HM Land Registry and current Money Laundering legislation to record that the have verified the identity of their clients. It will also be a requirement of your mortgage offer. In addition they have to complete various forms, particularly those relating to Land Tax and need to have details such as your full names, national insurance number and DOB.