Do banks and building societies provide you with an approved list of Old St Mellons conveyancing solicitors? How do you know who is on the Co-operative conveyancing panel?
Old St Mellons conveyancing firms themselves provide us confirmation that they are on the Co-operative conveyancing panel as opposed to being supplied with a list from Co-operative directly.
What is the difference between a licensed conveyancer and conveyancing solicitor in Old St Mellons
There are many recorded licenced Conveyancers in Old St Mellons and Solicitor firms in Old St Mellons offering conveyancing We would stress that both are supervised by regulatory bodies with both specialising in the legal work in transferring property. Both can handle associated property related work such as remortgage conveyancing, enfranchisement and transfer of equity conveyancing.
Is it the case that all Old St Mellons CQS (Conveyancing Quality Scheme) solicitors are on the Nottingham conveyancing panel?
It is true that some banks and building societies now use the accreditation scheme as the starting point for Panel membership such as HSBC and Santander. The Law Society’s CQS membership however gives no guarantee to lender panel acceptance. That being said,the Council of Mortgage Lenders have indicated that it is likely to become a pre-requisite for solicitor practices wishing to join their approved list of conveyancing solicitors.
I have today made my last payment due on my mortgage with Barclays. I assume I don't need a Old St Mellons property lawyer on the Barclays panel to remove the mortgage at the Land Registry. Please confirm.
If you have finished paying off your Barclays 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 Barclays mortgage from the register. Barclays, 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 Barclays has sent the Land Registry the discharge electronically, and
- Barclays has instructed the Land Registry to do so
2 months have gone by since my purchase conveyancing in Old St Mellons completed. I have checked the Land Registry site which shows that I paid £150,000 when infact I paid £170,000. Why the discrepancy?
The price paid figure is taken from the application to register the purchase. It is the figure included in the Transfer (the legal deed which transfers the premises from one person to the other) and referred to as the 'consideration' or purchase price. You can report an error in the price paid figure using the LR online form. In most cases errors result from typos so at first glance the figure. Do report it so they can double check and advise.
I am purchasing my first flat in Old St Mellons with a mortgage from Platform Home Loans Ltd. The builders refused to move on the amount so I negotiated 6k of additionals instead. The sale representative told me not reveal to my solicitor about the side-deal as it would adversely affect my mortgage with the bank. 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.
Can you provide any advice for leasehold conveyancing in Old St Mellons from the perspective of speeding up the sale process?
- A significant proportion of the frustration in leasehold conveyancing in Old St Mellons can be avoided where you appoint lawyers as soon as you market your property and ask them to put together the leasehold information needed by the purchasers’ solicitors. If you have carried out any alterations to the residence would they have required Landlord’s approval? Have you, for example laid down wooden flooring? Most leases in Old St Mellons state that internal structural changes or addition of wooden flooring calls for a licence issued by the Landlord consenting to such changes. Where you fail to have the approvals in place you should not communicate with the landlord without contacting your solicitor in advance. You may think that you are aware of the number of years left on your lease but it would be wise to verify this by asking your lawyers. A purchaser's conveyancer will not be happy to advise their client to to exchange contracts if the lease term is less than 80 years. It is therefore essential at an as soon as possible that you consider whether the lease term requires a lease extension. If it does, contact your solicitors before you put your property on the market for sale. Some Old St Mellons leases require Licence to Assign from the landlord. If this applies to your lease, you should place the estate agents on notice to make sure that the purchasers obtain bank and professional references. The bank reference should make it clear that the buyer is financially capable of paying the yearly service charge and the actual amount of the service charge should be quoted in the bank’s letter. You will therefore need to provide your estate agents with the actual amount of the service charge so that they can pass this information on to the buyers or their solicitors.
Old St Mellons Leasehold Conveyancing - Examples of Questions you should ask Prior to buying
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Who manages the building? You will want to find out as much as you can regarding the company managing the block as they will either make living at the property much easier or a lot more difficult. As the owner of a leasehold property you are frequently at the mercy of the managing agents both financially and when it comes to daily issues like the cleanliness of the common parts. Don't be shy to ask prospective neighbours what they think of their service. Finally, investigate as to the dates that the service fees are due to the managing agents and precisely how they are spending the funds. The prefered form of lease structure is a share of the freehold. In this arrangement the lessees have control and notwithstanding that a managing agent is usually employed if it is larger than a house conversion, the managing agent employed by the leaseholders.
Am in the process of buying my 1st house in Old St Mellons. Conveyancing lawyer has been selected. The mortgage adviser suggested that a survey is not needed as the property was only built twenty two years ago.
As the bare minimum you need a Home Buyer's Report. Given the property was constructed more than a decade ago the property will not benefit from a warranty, so you would be well advised not to take a risk. For a property that age with no signs of defects a Home Buyer's report may be sufficient. They will highlight any apparent problems and recommend further investigation where relevant. If there are any signs of problems obtain a comprehensive structural survey.