My husband and I decided to purchase a 2 bedroom apartment in Meopham with a loan from Nottingham Building Society.We like our Meopham conveyancing practitioner but Nottingham Building Society informed us his firm is not listed on their approved list of member firms. we are left little option but to use a Nottingham Building Society panel lawyer or keep our preferred solicitor and pay for one of their panel ones to act for them. This seems very unfair; Can we not simply insist that Nottingham Building Society use our lawyer?
Unfortunately,no. The loan issued to you is subject to its various provisions, a common one being that conveyancers needs to be on the Nottingham Building Society approved list. in the past, most banks had large numbers of law firms on their panels: a borrower could find 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. Another option that might be available is for your lawyer to apply to be on the conveyancing panel for Nottingham Building Society
Due to the input of my in-laws I had a survey completed on a house in Meopham prior to instructing conveyancers. I have been told that there is a flying freehold overhang to the property. My surveyor has said that some banks will refuse to issue a mortgage on a flying freehold property.
It varies from the lender to lender. HSBC has different instructions for example to Birmingham Midshires. Should you wish to telephone us we can check with the relevant bank. If you lender is happy to lend one our lawyers can help as they are used to dealing with flying freeholds in Meopham. Conveyancing may be slightly more expensive based on your lender's requirements.
Taking into account that I will soon spend over three hundred thousand on a garden flat in Meopham I would like to talk to a solicitor about myconveyancing before giving the go ahead to the firm. Is this something that you can arrange?
This is something that we recommend - it is our preference to talk to you we do not take any clients on without you first talking to the conveyancer due to be doing your property ownership legalities in Meopham.There is no ‘factory style conveyancing’ - every client is unique person, not a matter reference. The law firms that we put you in touch with believe that the fees you are quoted for your conveyancing in Meopham should be the figure that you end up paying.
We are 17 days into a leasehold purchase having been recommend to a firm by the estate agent to carry out the conveyancing in Meopham. We are not happy. Can you help me find new lawyers?
A lawyer would need to be really poor in order to consider replacing them. Has your mortgage offer been issued? In the event that it has you will need to make them aware of the replacement solicitor and get the loan are issued to the new lawyers. Your new conveyancer needs to be on the mortgage company panel to avoid escalating fees and frustration. So that should be your first question of the new solicitors. Our search tool should assist you in finding a bank approved lawyer for your conveyancing in Meopham
Having checked my lease I have discovered that there are only Sixty One years left on my lease in Meopham. I am keen to get lease extension but my landlord is can not be found. What options are available to me?
If you qualify, under the Leasehold Reform, Housing and Urban Development Act 1993 you can apply to the County Court for an order to dispense with the service of the initial notice. This will mean that your lease can be extended by the magistrate. However, you will be required to demonstrate that you or your lawyers have made all reasonable attempts to find the freeholder. On the whole a specialist may be useful to conduct investigations and prepare an expert document which can be used as evidence that the freeholder can not be located. It is wise to seek advice from a conveyancer both on devolving into the landlord’s absence and the vesting order request to the County Court covering Meopham.
I acquired a 1 bedroom flat in Meopham, conveyancing having been completed in 2005. Can you shed any light on how much the price could be for a 90 year extension to my lease? Equivalent properties in Meopham with an extended lease are worth £191,000. The average or mid-range amount of ground rent is £55 levied per year. The lease runs out on 21st October 2076
With only 53 years remaining on your lease we estimate the premium for your lease extension to span between £27,600 and £31,800 as well as costs.
The figure that we have given is a general guide to costs for renewing a lease, but we are not able to supply a more accurate figure in the absence of detailed due diligence. Do not use the figures in tribunal or court proceedings. There may be other concerns that need to be taken into account and you obviously want to be as accurate as possible in your negotiations. Please do not move forward based on this information before getting professional advice.
My nephew is about to join the property ladder, the home loan was agreed last week in principle. When the seller agreed the offer on the house we telephoned the building society to issue the formal offer. I was disappointed to hear that mortgage companies do not accept all conveyancing practitioner, they must be on their panel, is this legal?
Lenders ordinarily restrict either the type or the number of conveyancing firms on their approved list of lawyers. Typical examples of such restriction(s) being that a firm must have two or more partners. In addition to restricting the type of firm, some have decided to limit the number of firms they use to represent them. You should note that banks have no responsibility for the quality of advice provided by any Meopham conveyancing practitioner on their panel. Mortgage fraud was a key driver in the rationalisation of conveyancing panels a few years ago and whilst there are differing views about the extent of solicitor involvement in some of that fraud. Statistics from the Land Registry reveal that thousands of law firms only carry out one or two conveyances a year. Those supporting conveyancing panel cuts ask why law firms should have the right to be on a Lender panel when clearly, conveyancing is not their speciality. To put it another way; would you want a conveyancing solicitor to represent you if you were charged with a crime? Presumably not.