My friend's mother is a property lawyer. I hope that I will receive mate’s pricing for conveyancing, but if not, what level of fees would I typically be looking at for conveyancing in Ponders End?
It’s sensible to seek two or three conveyancing quotes. Make use of our comparison tool on this page. The charges may be different but the service one can expect differ between solicitors as is the case with most professions.
My conveyancer has uncovered a defect with the lease for the property we are purchasing in Ponders End. The seller’s lawyers have offered defective title insurance as a solution. We are happy with insurance and will cover the costs. Our solicitor has advised that he must check that the bank is happy with this solution. Who is the client here, us or the mortgage company ?
Regardless of the fact that you have a mortgage offer from the mortgage company does not mean to say that the property will meet their provisions for the purposes of a mortgage. Your lawyer has to ensure that the lease has to comply with the UK Finance Lenders’ Handbook provisions. You and the lender are the client. These conveyancing instructions must be adhered to.
Can you explain why leasehold purchase conveyancing in Ponders End costs more?
In short, leasehold conveyancing in Ponders End and elsewhere usually necessitates more due diligence compared to freehold transactions. This includes reviewing the lease, corresponding with the landlord concerning serving required notices, procuring current service charge and management information, procuring the freeholder’s consents and reviewing management accounts. The obligations on both the landlord and the tenant in the lease need to be studied by the buyer’s conveyancing team and read from beginning to end – no matter how many different owners have owned the lease since it was first entered into.
We previously instructed conveyancing lawyers based in Ponders End on the Principality solicitor panel. They are now charging me a further amount for dealing with the Principality mortgage. Is this a supplemental conveyancing fee specified by Principality?
As unfair as it may seem, as long as it’s in their Terms and Conditions or estimate then yes your conveyancing practitioner can charge a fee for this. The fee is not dictated by Principality but by your Ponders End lawyer. Plenty of firms on the Principality panel will quote an ‘acting for lender’ fee but some practices include it on their overall fee.
I am purchasing a property in Ponders End. A rare aspect is that the roof has a solar panel. Solicitors conducting should look into this right? Will my lender Coventry BS be concerned?
Given that your lender is Coventry BS your lawyer must follow the formal instructions set out in Section two of UK Finance Lenders’ Handbook for Coventry BS. The CML Handbook contains minimum specifications for solar panel roof-space leases, and conveyancing practitioners are required to report to Coventry BS where a lease does not meet these provisions. The specifications relate to the installation of panels on properties in England and Wales and is not limited to Ponders End.
I am due to exchange contracts on my apartment. I had a double glazing fitted in October 2008, but did not receive a FENSA certificate or Building Regulation Certificate. My buyer's mortgage company, Aldermore are being problematic. The Ponders End solicitor who is on the Aldermore conveyancing panel is happy to accept ‘lack of building regulation’ insurance but Aldermore are requiring a building regulation certificate. Why do Aldermore have a conveyancing panel if they don't accept advice from them?
It is probably the case that Aldermore have referred the matter to their valuer. The reason why Aldermore may not want to accept indemnity insurance is because it does not give them any reassurance that the double glazing was correctly and safely installed. The indemnity insurance merely protects against enforcement action which is very unlikely anyway.
I am buying my first flat in Ponders End with a mortgage from Alliance & Leicester . The sellers refused to reduce the amount so I negotiated five thousand pounds worth of extras instead. The house builders rep told me not reveal to my lawyer about the extras as it would put at risk my mortgage with Alliance & Leicester . Should I keep quiet?.
All lenders require a Disclosure of Incentives Form from the developer 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 had an offer accepted on a leasehold flat in Ponders End and the estate agent that we are dealing with suggested his conveyancing practitioner. He quoted a thousand pounds excluding VAT and 3rd party costs. Does this sound expensive?
You should not rely on 1 estimate. You should seek like-for-like quotes for your conveyancing in Ponders End. Then pick one that you trust and just as important, is on the approved list of the mortgage company that you have applied for a mortgage from.