My Mortimer lawyer has identified a difference between the information in the home valuation survey and what is in the legal papers for the property. My lawyer says that he must ensure that the bank is OK with this discrepancy and is still content to lend. Is my solicitor’s approach appropriate?
Your property lawyer must comply with the UK Finance Lenders’ Handbook conditions which do require that your lawyer disclose any incorrect assumptions in the lender’s valuation report and the legal papers. Should you refuse to allow your lawyer to make the appropriate notification then your lawyer will have no choice but to discontinue acting for both parties.
In reviewing moneysavingexpert.com for a conveyancing lawyer in Mortimer, most advise that I should look for a CQS kitemarked lawyer. What is CQS?
Mortimer Conveyancing Quality Scheme solicitors have achieved certification under the Law Society's Scheme (CQS) CQS was established to promote high standards in the in the legal transfer of properties. CQS helps consumers to identify solicitor firms who provide a quality residential conveyancing. Mortimer is one of the many areas in England and Wales in which accredited firms have offices. The conveyancing scheme requires practices to undergo a strict assessment, compulsory training, self-reporting, spot checks and annual reviews in order to maintain CQS status. It is available to solicitors and not licensed conveyancers and has the support of the Council of Mortgage Lenders.
Me and my partner are buying a house in Mortimer. It might be a silly question but how we can trust a lawyer? At some point we have to put funds into their account. What protection do we have from them run away with our money?
Be assured that all money in a Solicitors client account is 100% safe, and even if your Solicitor ran off with it, the Law Society would reimburse you fully.
I have paid off my mortgage with Bank of Ireland. I assume I don't need a Mortimer conveyancer on the Bank of Ireland panel to discharge the mortgage at the Land Registry. Please confirm.
If you have finished paying off your Bank of Ireland mortgage, they may send you evidence showing that you have paid it off. Alternatively they may notify the Land Registry directly. The Land Registry need to see this evidence before they will remove the Bank of Ireland mortgage from the register. Bank of Ireland, and any evidence they send you, will determine the action you need to take. In cases where no conveyancer is acting for you and you have paid off your mortgage:
- but are not moving to another property
- where Bank of Ireland has sent the Land Registry the discharge electronically, and
- Bank of Ireland has instructed the Land Registry to do so
I can not fathom if my bank requires a lease extension. I have telephoned my Mortimer building society branch on a couple of occasions and was told it does not affect the mortgage offer and they will lend. My Mortimer conveyancing solicitor - who is on the bank conveyancing panel- telephoned and was told they refuse to lend in accordance with their published requirements. I simply don't know who is right.
Your conveyancing practitioner must follow the CML Handbook section two provisions for your bank. Unless your lawyer obtains specific confirmation in writing that the bank will go ahead, your lawyer has no choice but to refrain from exchanging contract and committing you to the purchase. We would suggest that you ask the lender to contact your lawyer in writing confirming that they will accept the number of years left on the lease.
Due to the guidance of my in-laws I had a survey completed on a house in Mortimer before instructing lawyers. I have been informed that there is a flying freehold overhang to the property. The surveyor has said that some banks tend refuse to give a mortgage on a flying freehold home.
It varies from the lender to lender. HSBC has different instructions for example to Halifax. Should you wish to call us we can check with the appropriate bank. If you lender is happy to lend one our lawyers can assist as they are accustomed to dealing with flying freeholds in Mortimer. Conveyancing may be slightly more expensive based on your lender's requirements.
I need to instruct a conveyancing practitioner in Mortimer for my purchase. Is it possible to see a solicitor's complaints history with the profession’s regulator?
You can see documented Solicitor Regulator Association (SRA) determinations arising from inquisitions started on or after 1 January 2008. Visit Check a solicitor's record. To find details about the period before 1 January 2008, or to check a solicitors record, call 0870 606 2555, 08.00 - 18.00 Monday, Wednesday, Thursday, Friday and 09.30 - 18.00 Tuesday. International callers, use +44 (0)121 329 6800. The SRA sometimes recorded telephone calls for training requirements.
I've recently bought a leasehold property in Mortimer. Am I liable to pay service charges for periods before completion of my purchase?
Where the service charge has already been demanded from the previous lessee and they have not paid you would not usually be personally liable for the arrears. However, your landlord may still be able to take action to forfeit the lease. It is an essential part of leasehold conveyancing for your conveyancer to be sure to have an up to date clear service charge receipt before completion of your purchase. If you have a mortgage this is likely to be a requirement of your lender.
If you purchase part way through an accounting year you may be liable for charges not yet demanded even if they relate to a period prior to your purchase. In such circumstances your conveyancer would normally arrange for the seller to set aside some money to cover their part of the period (usually called a service charge retention).
I am the registered owner of a basement flat in Mortimer, conveyancing having been completed June 2010. Can you work out an approximate cost of a lease extension? Equivalent properties in Mortimer with over 90 years remaining are worth £197,000. The average or mid-range amount of ground rent is £55 invoiced annually. The lease terminates on 21st October 2082
With 56 years left to run the likely cost is going to range between £29,500 and £34,000 plus costs.
The suggested premium range that we have given is a general guide to costs for extending a lease, but we cannot give you the actual costs in the absence of comprehensive investigations. You should not use the figures in tribunal or court proceedings. There may be other issues that need to be considered and clearly you should be as accurate as possible in your negotiations. Neither should you move forward placing reliance on this information without first seeking the advice of a professional.