I am one month into the sale of my flat in Peak District and the EA has just telephoned to advise that the buyers are swapping law firm. I am told that this is due to the fact that the mortgage company will only work with solicitors on their conveyancing panel. On what basis would a leading mortgage company only engage with specific lawyers rather the firm that they want to appoint for their conveyancing in Peak District ?
Lenders have always had panels of law firms they are content to work with, but in recent years big names such as Yorkshire Building Society, have reviewed and reduced their conveyancing panel– in some cases removing conveyancing firms who have acted for them for over 25 years.
Lenders point to the increase in fraud as the reason for the pruning – criteria have been stiffened as a smaller panel is easier to oversee. Banks tend not to reveal how many solicitors have been dropped, claiming the information is commercially sensitive, but the Law Society says it is hearing daily from firms that have been removed from panels. Some are unaware that they have been dropped until contacted by a borrower who has instructed them as might be the situation in your buyers' case. Your buyers are unlikely to have any impact on this.
We are purchasing a house and require a conveyancing solicitor in Peak District who is on the Aldermore conveyancing panel. Can you recommend a local firm?
Our service is limited to being a directory service for firms who wish to be listed as being on the approved conveyancing panel for Aldermore . We don't recommend any particular firms conducting conveyancing in Peak District.
My wife and I have recently appointed a conveyancing solicitor in Peak District. I I would like to check whether they are accepted on the Clydesdale approved list of lawyers. Could you help?
You should phone your conveyancer and ask them if they are on the lender panel. Alternatively please get in touch with Clydesdale who may be able to help.
I'm buying a new build house in Peak District benefiting from help to buy. The developers refused to move on the amount so I negotiated five thousand pounds worth of extras instead. The house builders rep advised me not inform my lawyer about this deal as it could jeopardize my loan 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 have just started marketing my garden flat in Peak District. Conveyancing has not commenced, however I have recently had a half-yearly service charge demand – should I leave it to the buyer to sort out?
The sensible thing to do is pay the maintenance contribution as usual as all rents and maintenance payments will be allotted on completion, so you should recover the relevant percentage by the buyer for the period running from after the completion date to the next payment date. Most management companies will not acknowledge the buyer unless the service charges have been paid and are up to date, so it is important for both buyer and seller for the seller to show that they are up to date. This will smooth the conveyancing process.
I bought a studio flat in Peak District, conveyancing formalities finalised October 2009. Can you work out an approximate cost of a lease extension? Corresponding flats in Peak District with an extended lease are worth £222,000. The ground rent is £50 invoiced annually. The lease ceases on 21st October 2093
You have 71 years remaining on your lease we estimate the premium for your lease extension to be between £9,500 and £11,000 as well as legals.
The figure that we have given is a general guide to costs for extending a lease, but we are not able to advice on the actual costs without more detailed due diligence. Do not use this information in a Notice of Claim or as an informal offer. There may be other issues that need to be considered and you obviously want to be as accurate as possible in your negotiations. Please do not take any other action placing reliance on this information before seeking the advice of a professional.
Should one remove a departed person's name from the title deeds for a house in Peak District?
Where a Peak District property is jointly owned and one of the proprietors passes away, the name will not automatically be removed from the title deeds. It is not necessary to remove their name as in the event of a disposal your conveyancer would just be required to evidence why the other owner is not a party to the conveyance, such as a grant of probate.
With the aim of making things more straight forward in the future you can apply to have the deceased name removed from the title by applying to the land registry with evidence of the death. There is no land registry fee payable.