Am I correct in assuming that the fact that my solicitor in Ovingham is not listed on my bank's conveyancing panel that there is a problem with the standard of his conveyancing?
That would most likely be a wrong assumption to make. There are plenty of plausible explanations. Just recently a report by the solicitors regulator revealed that over three quarters of law firms surveyed had been removed from at least one lender panel. The most common reasons for removal are: (1) low volume of transactions (2) the solicitor is a sole practitioner (3) as part of the HSBC panel reduction (4) regulatory contact by SRA (5) accidental removal. Where you are concerned you should simply call the Ovingham conveyancing practice and ask them why they are no longer on the approved list for your bank.
Our god-son is about to exchange on a new build apartment in Ovingham with a home loan from UBS. His conveyancer has advised him of a delay in receiving the ‘Disclosure of Incentive Form’. Who needs to receive the form?
The document is intended to provide information to the main parties engaged in the purchase. Therefore, it will be provided to your son’s lawyer who should be on the UBS conveyancing panel as a standard part of the process, and to the surveyor when requested. The developer will be required to start the process by downloading the form and completing it. The form will therefore need to be available for the valuer at the time of his or her site visit. The form should be sent to the UBS conveyancing panel solicitor as early as possible, in order to avoid any last minute delays, and no later than at exchange of contracts.
Have just purchased a repossessed house at auction in Ovingham. Conveyancing is required. What is next?
Now that you have to all intents and purposes signed on the dotted line you should find a conveyancing solicitor soon as you will have a pending a fixed date to complete the deal. An auction property will have a corresponding legal set of papers. This should include most,if not all of the paperwork that your solicitor will need. In the case of leasehold premises the auction papers may include a copy of the lease, management information and a sellers leasehold information form and other conveyancing documentation pertinent to a leasehold property. You should hand this to your appointed conveyancing solicitor at the earliest opportunity. Do make sure that that you have the requisite funding in place to complete the transaction on the set completion date.
Is there a list of Virgin Money panel solicitors in Ovingham on the UK Finance Lenders’ Handbook Website?
Unfortunately not yet. There is no such tool on the CML or Building Society Association sites. A small selection of lenders make their panel listings viewable on the web. Where you are seeking to appoint a Ovingham property lawyer on the Virgin Money please use our tool.
I am buying a property in Ovingham. A rare aspect is that the roof has a solar panel. Principality have issued a mortgage offer so presumably this is not a concern to them. Why is my solicitor raising questions about the panel?
As you are obtaining a mortgage with Principality your lawyer must follow the formal requirements contained in Part two of UK Finance Lenders’ Handbook for Principality. The CML Handbook includes minimum conditions for solar panel roof-space leases, and conveyancers are required to report to Principality where a lease does not satisfy these specifications. The conditions relate to the installation of panels on properties countrywide and is not isolated to Ovingham.
4 months have elapsed following my purchase conveyancing in Ovingham concluded. I have checked the Land Registry site which shows that I paid £175,000 when infact I paid £215,000. 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 buying a new build apartment in Ovingham. Conveyancing is daunting at the best of times but I have never purchased a new build flat before. Can you give me some examples of some of the questions asked in new build legal work.
Set out below is a sample of a few leasehold new build enquiries that you may expect your new-build leasehold conveyancing in Ovingham
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Where service of notices and proceedings can be at the property demised please confirm that this can be amended to include simultaneous services at the Lessees’ solicitors’ offices where the Lessee from time to time is not resident in the UK - such solicitors may be varied by notice in writing to the Landlord from time to time but otherwise will be as previously specified. The Vendor must covenant to keep unoccupied units in good repair until long leases are granted therefore. Please confirm the Lease plans are architect prepared. Investor purchasers must be able to freely grant unsecured tenancies at market rents without requiring any consents.
I am looking for a leasehold apartment up to £195,000 and identified one round the corner in Ovingham I like with amenity areas and station in the vicinity, the downside is that it only has 61 years on the lease. There is not much else in Ovingham in this price bracket, so just wondered if I would be making a mistake buying a lease with such few years left?
Should you need a mortgage that many years will likely be an issue. Discount the price by the expected lease extension will cost if not already taken into account. If the existing owner has owned the premises for a minimum of 2 years you may ask them to start the process of the extension and then assign it to you. You can add 90 years to the existing lease and have £0 ground rent by law. You should speak to your conveyancing solicitor regarding this.