My husband and I are acquiring a newly constructed apartment in New Romney and my conveyancer is informing me that she has to the bank to disclose incentives from the developer. I am on a tight deadline to exchange and I don't want to prolong the conveyancing. Is my lawyer right?
You should not exchange unless you have been advised to do so by your lawyer. A precondition to being on a bank panel is to comply with the UK Finance Lenders’ Handbook conditions. The CML Conveyancing Handbook requires that your lawyer have the appropriate Disclosure of Incentive form completed by the developer and accepted by your lender.
Is there a search tool that I can utilise to find out if the solicitor handling my conveyancing in New Romney is on the bank’sapproved panel? I am looking to avoid the situation of having one lawyer for me and one for Bank of Ireland thus spending £192.00 in another set of conveyancing fees.
Please do take advantage of the search tool on this page. Please choose the mortgage company and type ‘New Romney’ or your location and you will be presented with numerous conveyancers offices in New Romney or near you.
I had a mortgage agreed in principle with Nottingham. New Romney conveyancing lawyers are appointed. What is the average time that one could expect to receive a mortgage offer from Nottingham?
Some lenders take longer than others. Have Nottingham completed the survey? Have you informed Nottingham as to your lawyers' details and checked that your lawyers are on the Nottingham conveyancing panel? Sometimes it can take as long as six weeks for a mortgage offer to be issued.
We have agreed to purchase a house in New Romney. One unusual aspect is that the roof has a solar panel. Solicitors conducting should look into this right? Will my lender Bank of Ireland be concerned?
Given that you are obtaining a mortgage with Bank of Ireland your lawyer must follow the conveyancing instructions outlined in Section 2 of UK Finance Lenders’ Handbook for Bank of Ireland. The CML Handbook includes minimum conditions for solar panel roof-space leases, and solicitors are required to report to Bank of Ireland where a lease does not satisfy these conditions. The provisions relate to the installation of panels on properties countrywide and is not limited to New Romney.
We expect to receive a OIP from Leeds Building Society this week so we know how much we could potentially offer as otherwise we only have online calculators to go by (which aren't taking into account credit checks etc). Do Leeds Building Society recommend any New Romney solicitors on the Leeds Building Society conveyancing panel, or is it better to go independently?
You will need to appoint New Romney solicitors independently although you'll need to choose one on the Leeds Building Society conveyancing panel. The solicitor represents both you and Leeds Building Society through the process.
I'm remortgaging my primary house to a BTL mortgage with Nottingham Building Society and I will use the rest of the raised equity towards a second property. The area we are looking at is New Romney. Will your conveyancers be able to act for the two mortgage companies and link together the conveyances?
Do use our comparison tool on this site to check that the conveyancers are on the appropriate lender panels. Assuming that they are your lawyer should be able to simultaneously deal with the two deals but you should have a chat with you conveyancer and communicate your desired outcome and needs.
I today plan to offer on a house that appears to be perfect, at a great figure which is making it more attractive. I have since discovered that the title is leasehold as opposed to freehold. I would have thought that there are particular concerns buying a leasehold house in New Romney. Conveyancing solicitors have not yet been instructed. Will they explain the issues?
Most houses in New Romney are freehold and not leasehold. This is one of the situations where having a local conveyancer who is familiar with the area who can help the conveyancing process. We note that you are purchasing in New Romney in which case you should be looking for a New Romney conveyancing practitioner and be sure that they have experience in transacting on leasehold houses. As a matter of priority you will need to check the unexpired lease term. As a tenant you will not be at liberty to do whatever you want to the property. The lease will likely included provisions for example requiring the landlord’sconsent to carry out alterations. You may also be required to pay a maintenance charge towards the maintenance of the communal areas where the house is located on an estate. Your conveyancer should advise you fully on all the issues.
I bought a garden flat in New Romney, conveyancing formalities finalised December 2005. Can you work out an approximate cost of a lease extension? Similar flats in New Romney with an extended lease are worth £186,000. The average or mid-range amount of ground rent is £55 invoiced every year. The lease ends on 21st October 2077
You have 52 years remaining on your lease we estimate the premium for your lease extension to span between £29,500 and £34,000 as well as professional fees.
The suggested premium range above a general guide to costs for extending a lease, but we cannot give you a more accurate figure in the absence of detailed investigations. You should not use the figures in tribunal or court proceedings. There are no doubt other concerns that need to be taken into account and clearly you want to be as accurate as possible in your negotiations. Neither should you move forward based on this information without first getting professional advice.
We are in the process of acquiring a house in New Romney. Can our conveyancer have our purchase price private from the likes of Rightmove. Is this achievable and how?
The Land Registry as a matter of law obliged to note price paid information on the official title for domestic properties nationwide which includes properties in New Romney. The Title Register is a public document, so the Land Registry would be breaching their statutory duty if they failed to permit access to the register.
You can make a request of HM Land Registry to withhold the amount paid entry yet the response would be a No.