We are planning to acquire a house and require a conveyancing solicitor in Mountsorrel who is on the Coventry BS approved panel. Could you point me in the right direction as regards a solicitor?
Our service is limited to being a directory service for firms who wish to be listed as being on the approved conveyancing panel for Coventry BS . We don't recommend any particular firms conducting conveyancing in Mountsorrel.
What happens if my solicitor is expelled from the Santander Solicitor panel ahead of completing my conveyancing in Mountsorrel?
First, this is a very rare occurrence. In most cases even where a law firm is removed off of a panel the lender would allow the completion to go ahead as the lender would appreciate the difficulties that they would place you in if you have to instruct a new solicitor days before completion. In a worst case scenario where the lender insists that you instruct a new firm then it is possible for a very good lawyer to expedite the conveyancing albeit that you may pay a significant premium for this. The analogous situation is where a buyer instructs a lawyer, exchanges contracts and the law firm is shut down by a regulator such as the SRA. Again, in this situation you can find lawyers who can troubleshoot their way to bring the conveyancing to a satisfactory conclusion - albeit for a fee.
Various internet forums that I have visited warn that are the number one cause of hinderance in Mountsorrel conveyancing transactions. Is there any truth in this?
The Council of Property Search Organisations (CoPSO) published findings of research by MoveWithUs that conveyancing searches do not figure within the common causes of delays in the conveyancing process. Local searches are unlikely to feature in any delay in conveyancing in Mountsorrel.
I'm buying a new build house in Mountsorrel with a mortgage from Godiva Mortgages Ltd. The builders would not reduce the amount so I negotiated 6k of extras instead. The property agent told me not disclose to my lawyer about the extras as it will put at risk my mortgage with the lender. Do I keep my lawyer in the dark?.
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 need to appoint a conveyancing solicitor for some conveyancing in Mountsorrel. I have discover a web site which seems to have the perfect solution If there is a chance to get all formalities done via web that would be ideal. Should I be concerned? What should out be looking out for?
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?
Expecting to sign contracts shortly on a ground floor flat in Mountsorrel. Conveyancing lawyers have said that they will have a report out to me next week. Are there areas in the report that I should be focusing on?
The report on title for your leasehold conveyancing in Mountsorrel should include some of the following:
-
You should have a good understanding of the insurance provisions Setting out your rights in respect of common areas in the block.E.G., does the lease provide for a right of way over a path or hallways? An explanation as to the provision in the lease to to contribute towards maintenance costs - in relation to the building, and the more general rights a tenant enjoys The physical ownership of the property. This will be the apartment itself but could also include a roof space or cellar if relevant. if lease has a provision for a reserve account for major repairs?
I acquired a leasehold flat in Mountsorrel, conveyancing having been completed in 2002. Can you give me give me an indication of the likely cost of a lease extension? Comparable properties in Mountsorrel with an extended lease are worth £207,000. The average or mid-range amount of ground rent is £60 per annum. The lease terminates on 21st October 2082
With only 57 years remaining on your lease the likely cost is going to range between £28,500 and £33,000 as well as professional fees.
The figure that we have given is a general guide to costs for extending a lease, but we are not able to supply the actual costs in the absence of detailed due diligence. Do not use this information in a Notice of Claim or as an informal offer. There are no doubt additional concerns that need to be taken into account and you obviously want to be as accurate as possible in your negotiations. You should not move forward based on this information without first seeking the advice of a professional.