My financial adviser has asked me for my Marlow lawyer’ panel member for the HSBC conveyancing panel. How do I discover this. I have tried my local Marlow branch but they have not got back to me yet.
The sensible thing to do is ask for this information from your Marlow solicitor . Most Marlow conveyancing firms will keep a file or database of lender panel information which would include, if applicable, their conveyancing panel details for each lender.
As a novice what is the most important advice you can give me concerning purchase conveyancing in Marlow?
You may not hear this from too many lawyers but conveyancing in Marlow and elsewhere in England and Wales is an adversarial process. Put another way, when it comes to conveyancing there exists lots of opportunity for conflict between you and other parties involved in the legal transfer of property. E.g., the vendor, estate agent and on occasion a bank. Choosing a solicitor for your conveyancing in Marlow should not be taken lightly as your conveyancer is your adviser, and is the SOLE person in the transaction whose interest is to protect your legal interests and to protect you.
On occasion a third party with a vested interest will attempt to sway you that you should follow their advice. For instance, the property agent may claim to be helping by suggesting your conveyancer is dragging his heels. Or your mortgage broker may tell you to do take action that is contrary to your solicitors guidance. You should always trust your lawyer above all other parties in the conveyancing process.
I am the sole recipient of my late mum's will and I have everything in my name alone, including the my former home in Marlow. Conveyancing formalities meant that the Land Registry date was in September. I plan to dispose of the house. I understand that there is a Mortgage Lenders six month 'rule', which means that my proprietorship may be regarded the same way as though I had purchased the house in September. Will no one buy the property for half a year?
The Council of Mortgage Lenders’ handbook instructs conveyancers to: "report to us immediately if the owner or registered proprietor has been registered for less than six months." Technically you may be affected by that. How sensible a view lenders take of it, depend on the bank as this clause is primarily there to capture the purchase and immediately sell or the flipping of property.
is it true that all Marlow solicitors on the RBS conveyancing panel are governed by the Solicitors Regulatory Authority?
As a firm of solicitors, in order to be on the RBS conveyancing panel they would need to be overseen by the Solicitors Regulatory Authority. Many mortgage companies do permit licenced conveyancers on their panel and in that case the organisation would be overseen by the Council of Licensed Conveyancers.
My offer on a house in Marlow has been agreed to, the owners do nevertheless have a connected purchase. The owners have offered on a property, however it’s not been accepted yet, and are looking at other properties in the pipeline. I have instructed a nearby conveyancing solicitor in Marlow. What should be my next step? When do I get the mortgage application with Leeds Building Society going?
It is understandable to have concerns where there is a chain as you are unlikely to want to be too out of pocket too early (home loan application is in the region of £1k, then survey, Marlow conveyancing search fees, etc). The first course of action is to check that your conveyancer is on the Leeds Building Society approved list. Regarding the subsequent stages this very much depends on the circumstances of your transaction, attraction to this property and on the state of the market. In a hot market the majority of home buyers will apply for a home loan with Leeds Building Society and arrange for the valuation and only if it was satisfactory would they ask their conveyancing practitioner to press on with searches.
I am looking for a flat up to £195,000 and identified one near me in Marlow I like with a park and railway links in the vicinity, however it only has 52 years unexpired on the lease. There is not much else in Marlow in this price bracket, so just wondered if I would be making a grave error purchasing a short lease?
If you require a mortgage that many years may be a potential deal breaker. Reduce the price by the anticipated lease extension will cost if not already taken into account. If the existing owner has owned the property for a minimum of twenty four months you may ask them to start the process of the extension and then assign it to you. An additional ninety years can be extended on to the current lease term and have £0 ground rent by law. You should consult your conveyancing lawyer concerning this matter.
I need to appoint a conveyancing solicitor for remortgage conveyancing in Marlow. I happened to discover a web site which appears to be the perfect offering If there is a chance to get all the legals completed via web that would be preferable. Should I be concerned? What are the potential pitfalls?
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?
I am tempted by the attractive purchase price for a two flats in Marlow both have about 50 years unexpired on the lease term. Should I regard a short lease as a deal breaker?
A lease is a right to use the premises for a period of time. As a lease gets shorter the marketability of the lease reduces and it becomes more costly to acquire a lease extension. For this reason it is often a good idea to extend the lease term. It is often difficulties arise selling premises with a short lease because mortgage lenders less inclined to grant a loan on such properties. Lease enfranchisement can be a protracted process. We advise that you seek professional help from a conveyancer and surveyor with experience in this field.
I bought a leasehold flat in Marlow, conveyancing was carried out February 2010. 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 flats in Marlow with over 90 years remaining are worth £179,000. The average or mid-range amount of ground rent is £65 invoiced every year. The lease terminates on 21st October 2081
With only 57 years unexpired we estimate the premium for your lease extension to range between £26,600 and £30,800 plus plus your own and the landlord's "reasonable" professional fees.
The figure above a general guide to costs for renewing a lease, but we cannot give you the actual costs in the absence of comprehensive investigations. Do not use the figures in tribunal or court proceedings. There may be additional concerns that need to be considered and clearly you should be as accurate as possible in your negotiations. Please do not move forward based on this information before getting professional advice.