My lawyer in Loughborough is not on the TSB Conveyancing Panel. Can I still continue with my family solicitor even though they are not on the TSB panel?
Your options are as follows:
- Complete the purchase with your preferred Loughborough lawyers but TSB will need to retain a lawyer on their list of acceptable firms. This will result in additional total legal fees as well as cause delays.
- Find a new practitioner to act in the conveyancing, remembering to check they are Convince your lawyer to do everything within their powers to join the TSB conveyancing panel
I have been told that property searches are the number one reason for delay in Loughborough conveyancing transactions. Is that correct?
The Council of Property Search Organisations (CoPSO) released conclusions of research by MoveWithUs that conveyancing searches do not feature within the top 10 causes of hindrances during the legal transfer of property. Local searches are not likely to be the root cause of holding up conveyancing in Loughborough.
It has been 3 months since my purchase conveyancing in Loughborough concluded. I have checked the Land Registry website which shows that I paid £175,000 when infact I paid £215,000. Why the discrepancy?
The price paid figure is taken from the application to register the purchase. It is the figure included in the Transfer (the legal deed which transfers the residence from one person to the other) and referred to as the 'consideration' or purchase price. You can report an error in the price paid figure using the LR online form. In most cases errors result from typos so at first glance the figure. Do report it so they can double check and advise.
I'm buying a new build house in Loughborough with a loan from Bank of Ireland. The developers would not move on the price so I negotiated 6k of fixtures and fittings instead. The sale representative advised me not inform my lawyer about this deal as it may jeopardize my mortgage with the lender. Should I keep quiet?.
All lenders require a Disclosure of Incentives Form from the developer 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 am looking into buying my first house which is in Loughborough and I am already nervous. I couldn't find anything specific about Loughborough. Conveyancing will be needed in due course but do you know about the Loughborough area? or perhaps some other tips you can share?
Rather than looking online forget looking online you should go and have a look at Loughborough. In the meantime here are some basic statistics that we found
I own a leasehold flat in Loughborough. Conveyancing and Nottingham Building Society mortgage are in place. A letter has just been received from someone claiming to own the reversionary interest in the property. It included a demand for arrears of ground rent dating back to 1996. The conveyancing practitioner in Loughborough who previously acted has long since retired. Any advice?
First contact the Land Registry to make sure that this person is in fact the new freeholder. There is no need to incur the fees of a Loughborough conveyancing solicitor 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 legitimate freeholder, under the Limitation Act 1980 the limitation period for recovery of ground rent is six years.
I own a 1st floor flat in Loughborough, conveyancing was carried out half a dozen years ago. Can you shed any light on how much the price could be for a 90 year extension to my lease? Comparable flats in Loughborough with a long lease are worth £176,000. The average or mid-range amount of ground rent is £50 levied per year. The lease finishes on 21st October 2105
With just 80 years left to run we estimate the premium for your lease extension to span between £7,600 and £8,800 plus professional fees.
The figure that we have given is a general guide to costs for extending a lease, but we cannot give you the actual costs without more comprehensive investigations. Do not use this information in tribunal or court proceedings. There are no doubt other concerns that need to be considered and you obviously should be as accurate as possible in your negotiations. Please do not move forward based on this information before seeking the advice of a professional.