Me and my fiance are purchasing a 1 bedroom flat in Marple with a mortgage. We like our Marple conveyancer, however the mortgage company advise he's not on their "panel". We have to appoint one of the bank panel conveyancing practices or continue with our Marple lawyer as well as pay for one of their panel ones to act for them. This seems very unfair; is there anything we can do?
Unfortunately,no. The mortgage offered to you is subject to its terms and conditions, one of which will be that lawyers will on the lender’s conveyancing panel. Until recently, most lenders had large numbers of law firms on their panels: a borrower could choose one for themselves, as long as it was on the lender's panel. The lender would then simply instruct the borrower's lawyers to act for the lender, too. You can use your lender's panel lawyers or you could borrow from another lender which does not restrict your choice. A further alternative is for your Marple conveyancing lawyer to apply to be on the conveyancing panel.
Please could you vouch for a Virgin Money approved Marple conveyancing lawyer who can have us moved in within 10 days? Would it be better to use a high street Marple firm or a web based firm?
We would be happy to suggest some excellent Marple conveyancing firms. Another option is to visit the main road in Marple. Visit two or three law practices and ask to speak with a conveyancing solicitor for a costs illustration. Discuss your expectations together with the reasons and ask for an assurance on your deadline. Choose the one that genuine.
I am due to move home in July. Should my conveyancing solicitor update the removal company on the completion day. Incidentally, can you put forward a removal company in Marple. Conveyancing solicitor was chosen prior to coming across your page.
On the day of completion you can pick up the house keys from your estate agent but this should only be done after the vendors conveyancers inform the agent that they acknowledge receipt of the completion payment and the keys can be released. After that you can advise the removal men that you are ready to move in. We are not in a position to recommend a specific removal organisation but can help you find a residential property solicitor in Marple or a legal practice that specialises in conveyancing in Marple.
When it comes to lenders such as Lloyds, do Marple conveyancers face a fee to be on the list of approved solicitors?
We are unaware of any bank fees to be on their list of approved firms, although some do charge an administration charge to deal with the processing of the conveyancing panel application.
I am due to exchange contracts on my flat. I had a double glazing fitted in April 2007, but did not receive a FENSA certificate or Building Regulation Certificate. My purchaser’s mortgage company, HSBC are being pedantic. The Marple solicitor who is on the HSBC conveyancing panel is happy to accept ‘lack of building regulation’ insurance but HSBC are requiring a building regulation certificate. Why do HSBC have a conveyancing panel if they don't accept advice from them?
It is probably the case that HSBC have referred the matter to their valuer. The reason why HSBC may not want to accept indemnity insurance is because it does not give them any reassurance that the double glazing was correctly and safely installed. The indemnity insurance merely protects against enforcement action which is very unlikely anyway.
I am purchasing my first flat in Marple with the aid of help to buy. The builders refused to budge the amount so I negotiated 6k of extras instead. The estate agent told me not disclose to my lawyer about this extras as it may impact my mortgage with the bank. Should I keep quiet?.
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 am looking for a ground for flat up to £245,000 and found one round the corner in Marple I like with a park and transport links in the vicinity, however it's only got 49 remaining years left on the lease. I can't really find anything else in Marple in this price bracket, so just wondered if I would be making a mistake purchasing a lease with such few years left?
If you need a home loan the remaining unexpired lease term may be problematic. Discount the offer by the amount the lease extension will cost if not already taken into account. If the current owner has owned the premises for at least 2 years you may request that they start the process of the extension and then assign it to you. An additional ninety years can be extended on to the existing lease term with a zero ground rent applied. You should speak to your conveyancing solicitor concerning this matter.
I today plan to offer on a house that appears to be perfect, at a reasonable figure which is making it more attractive. I have since discovered that the title is leasehold rather than freehold. I would have thought that there are particular concerns purchasing a house with a leasehold title in Marple. Conveyancing solicitors have are soon to be appointed. Will they explain the issues?
Most houses in Marple are freehold rather than leasehold. In this scenario it’s worth having a local conveyancer who is familiar with the area who can help the conveyancing process. We note that you are buying in Marple in which case you should be shopping around for a Marple conveyancing practitioner and check that they have experience in transacting on leasehold houses. As a matter of priority you will need to check the number of years remaining. Being a tenant you will not be entirely free to do whatever you want to the property. The lease comes with conditions such as obtaining the landlord’sconsent to conduct alterations. You may also be required to pay a contribution towards the upkeep of the communal areas where the house is located on an estate. Your lawyer should appraise you on the various issues.
I purchased a 1 bedroom flat in Marple, conveyancing having been completed 5 years ago. Can you work out an approximate cost of a lease extension? Similar properties in Marple with a long lease are worth £216,000. The ground rent is £50 levied per year. The lease expires on 21st October 2091
With only 68 years unexpired we estimate the price of your lease extension to range between £9,500 and £11,000 as well as legals.
The suggested premium range 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 comprehensive investigations. Do not use this information 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. Neither should you move forward based on this information before getting professional advice.