My Solicitor in Lound is not listed on the TSB Solicitor Panel. Is it possible for me to use my family solicitor notwithstanding that they are excluded from the TSB list of approved lawyers?
Your options are as follows:
- Carry on with your preferred Lound lawyers but TSB will need to use a conveyancer on their panel. This will inevitably rack up the overall conveyancing fees and cause frustration.
- Choose an alternative lawyer to act in the conveyancing, remembering to check they are Persuade your solicitor to do everything within their powers to join the TSB conveyancing panel
We previously chose conveyancers with offices in Lound on the Nottingham solicitor approved list. They are now charging me a separate amount for handling the Nottingham mortgage. Is this a supplemental conveyancing fee specified by Nottingham?
Unfortunately, as long as it is in their Terms of Engagement or Quote then yes your property lawyer can levy a fee for this. This fee is not dictated by Nottingham but by your Lound solicitor. Numerous firms on the Nottingham panel will charge ’dealing with mortgage’ fee but plenty of practices include it on their overall fee.
I had a mortgage agreed in principle with Nationwide. Lound conveyancing practitioners are instructed. What is the average time that one could expect to receive a mortgage offer from Nationwide?
Some lenders take longer than others. Have Nationwide done the survey? Have you informed Nationwide as to your lawyers' details and checked that your lawyers are on the Nationwide conveyancing panel? Sometimes it can take as long as six weeks for a mortgage offer to be issued.
I have finally had an offer on an apartment in Lound agreed to, the owners do however have an associated purchase. The owners have offered on a flat, however it’s not been accepted yet, and have viewings of other properties in the pipeline. I have selected a high street conveyancing solicitor in Lound. What should be my next step? At what point should I apply for the mortgage with Yorkshire BS?
It is understandable to have anxieties where there is a chain as you are unlikely to want to be too out of pocket prematurely (mortgage application is in the region of £1k, then valuation, Lound conveyancing search charges, etc). The first thing to do is ensure that your conveyancer is on the Yorkshire BS approved list. As to the subsequent phase this very much depends on the circumstances of your case, motivation for this property and on the state of the market. In a rising market the majority of home buyers would apply for a home loan with Yorkshire BS and arrange for the valuation and only if it was satisfactory would they request their conveyancer to move forward with searches.
Are there restrictive covenants that are commonly picked up as part of conveyancing in Lound?
Covenants that are restrictive in nature can be picked up when reviewing land registry title as part of the process of conveyancing in Lound. An 1874 stipulation that was seen was ‘The houses to be erected on the estate are each to be of a uniform elevation in accordance with the drawings to be prepared or approved by the vendor’s surveyor…’
I am buying my first flat in Lound with a loan from The Royal Bank of Scotland. The sellers refused to reduce the amount so I negotiated 6k of extras instead. The estate agent told me not to tell my solicitor about the extras as it will affect my loan 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.
Should I choose a Lound conveyancing lawyer in close proximity to the house I am buying? An old friend can execute the legal work but they are based approximately 350kilometers away.
The primary upside of using a high street Lound conveyancing practice is that you can visit the firm to execute documents, hand in your identification documents and apply pressure on them if necessary. They will also have local intelligence which is a plus. However nothing is more important than finding someone that will pull out all the stops for you. If other friends have used your friend and on the whole were content that should outweigh using an unfamiliar Lound conveyancing lawyer just because they are local.
Back In 2005, I bought a leasehold flat in Lound. Conveyancing and Bank of Ireland mortgage are in place. A letter has just been received from someone claiming to own the reversionary interest in the property. Attached was a demand for arrears of ground rent dating back to 1996. The conveyancing practitioner in Lound who previously acted has now retired. Do I pay?
The first thing you should do is make enquiries of the Land Registry to make sure that the individual claiming to own the freehold is in fact the registered owner of the freehold reversion. It is not necessary to instruct a Lound conveyancing firm to do this as it can be done on-line for less than a fiver. You should note that regardless, even if this is the legitimate freeholder, under the Limitation Act 1980 no more than 6 years of rent can be collected.
I own a studio flat in Lound, conveyancing formalities finalised in 2007. How much will my lease extension cost? Corresponding properties in Lound with an extended lease are worth £211,000. The ground rent is £45 invoiced every year. The lease terminates on 21st October 2093
You have 68 years remaining on your lease the likely cost is going to be between £9,500 and £11,000 plus costs.
The figure above a general guide to costs for renewing a lease, but we cannot give you the actual costs in the absence of detailed due diligence. Do not use this information in tribunal or court proceedings. There may be other issues that need to be taken into account and you obviously should be as accurate as possible in your negotiations. Please do not move forward based on this information before getting professional advice.