I can't travel far from Mossley. What is the rationale as to why all Mossley property lawyers are not on all mortgage company panels?
Banks ordinarily restrict either the nature or volume of conveyancing firms on their panel. A common example of such restriction(s) being that a firm is required to have at least two partners. As well as restricting the type of firm, some banks decided to restrict the size of their panel they permit to act for them. You should note that lenders have no liability for the standard of conveyancing given by any Mossley lawyer on their panel. Increases in mortgage fraud was the primary trigger for the reduction of solicitor panels in the last decade even though there are opposing views concerning the extent of solicitor involvement in some of that fraud. Data from HMLR indicates that thousands of conveyancing firms only carry out a couple of conveyances a year. Those advocating conveyancing panel culls ask why conveyancing firms deserve any entitlement to be listed on a bank panel when it is apparent that property law is not their primary expertise?
We just had an offer accepted to buy with Coventry BS. We have called around locally but am unable to find a Mossley conveyancing firm on the Coventry BS approved list. Could you assist?
Feel free to take advantage of the find a lender approved solicitor tool on this site. Please choose the mortgage company and type Mossley or your location and you will be presented with a number of lawyer offices in Mossley or by proximity to you.
Completion of my remortgage has taken place for my property in Mossley. Conveyancing was a necessary evil but I feel I should register my dissatisfaction about the lender. How does one go about formally complaining?
Most banks and building societies have complaints procedures. Your first port of call should be one of the lender’s branches or the Customer Care Team at head office. We understand that complaints to a lender are sorted out very quickly. If you feel the matter is not resolved you can write to Financial Ombudsman Service with full details of your complaint.
I am due to exchange contracts on my flat. I had a double glazing fitted in July 2008, but did not receive a FENSA certificate or Building Regulation Certificate. My buyer's lender, Barclays are being pedantic. The Mossley solicitor who is on the Barclays conveyancing panel is happy to accept ‘lack of building regulation’ insurance but Barclays are requiring a building regulation certificate. Why do Barclays have a conveyancing panel if they don't accept advice from them?
It is probably the case that Barclays have referred the matter to their valuer. The reason why Barclays 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.
About to purchase apartment in Mossley. I have received an online quote from a licenced conveyancer, which states: "There will be no charge for dealing with the Building Society if you are obtaining a mortgage". I take this to mean that there will be no additional fee if the solicitor is on the Santander conveyancing panel. I wanted to make sure it means there will be no additional fees for dealing with the mortgage.
They are simply saying that the cost for acting for the lender is included in the fee being quoted. It is worth you checking that the Mossley lawyer is on the Santander conveyancing panel.
I am looking for a leasehold apartment up to £235,500 and found one close by in Mossley I like with open areas and station nearby, the downside is that it's only got 52 remaining years left on the lease. I can't really find anything else in Mossley for this price, so just wondered if I would be making a mistake purchasing a lease with such few years left?
Should you require a mortgage the remaining unexpired lease term will be problematic. Reduce the offer by the anticipated lease extension will cost if not already taken into account. If the existing proprietor has owned the property for a minimum of 2 years you can ask them to commence the lease extension formalities and pass 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 speak to your conveyancing lawyer concerning this.
Can you provide any top tips for leasehold conveyancing in Mossley from the point of view of speeding up the sale process?
- Much of the frustration in leasehold conveyancing in Mossley can be reduced where you get in touch lawyers the minute you market your property and ask them to collate the leasehold information needed by the purchasers’ representatives. You believe that you know the number of years remaining on your lease but you should verify this via your solicitors. A purchaser's conveyancer will not be happy to advise their client to where the remaining number of years is under 75 years. It is therefore important at an early stage that you identify whether the lease term requires a lease extension. If it does, contact your solicitors before you put your premises on the market for sale. If you are supposed to have a share in the freehold, you should make sure that you are holding the original share certificate. Obtaining a duplicate share certificate can be a time consuming process and frustrates many a Mossley home move. If a new share is needed, do contact the company director and secretary or managing agents (where applicable) for this sooner rather than later. If you have had conflict with your landlord or managing agents it is very important that these are settled prior to the flat being marketed. The buyers and their solicitors will be reluctant to purchase a property where a dispute is ongoing. You may have to bite the bullet and pay any arrears of service charge or settle the dispute prior to completion of the sale. It is therefore preferable to have any dispute settled prior to the contract papers being issued to the buyers’ solicitors. You are still duty bound to disclose details of the dispute to the purchasers, but it is better to reveal the dispute as historic as opposed to ongoing.
I am the registered owner of a 2 bed flat in Mossley, conveyancing formalities finalised half a dozen years ago. 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 Mossley with an extended lease are worth £190,000. The ground rent is £45 per annum. The lease ends on 21st October 2083
With 62 years remaining on your lease we estimate the price of your lease extension to be between £17,100 and £19,800 as well as costs.
The suggested premium range above a general guide to costs for renewing a lease, but we cannot give you a more accurate figure in the absence of comprehensive due diligence. Do not use this information in tribunal or court proceedings. There are no doubt additional issues that need to be taken into account and clearly you should be as accurate as possible in your negotiations. Neither should you take any other action placing reliance on this information without first seeking the advice of a professional.
My husband and I accepted an offer on a Mossley property left to us 8 years ago in 2012. I have over a decades worth of conveyancing knowledge and, now retired, see no reason not to carry out the conveyancing. The purchaser's conveyancing practitioner has informed me that their bank will not allow us to do our own conveyancing mandating that the funds to be passed via a solicitor's bank account.
Lending requirements to property lawyers from all mainstream lenders specify that If the seller is not legally represented the buyer’s lawyers should check whether the lender needs to be notified so that a decision can be made as to whether or not they are prepared to progress.