My wife and I are buying a ground floor flat in Queenborough. My Solicitor is not listed on the bank conveyancing panel. Am I still permitted to use my Queenborough conveyancing solicitor even though they are excluded from the mortgage company panel?
You have a number of options available to you here
- Carry on with your chosen Queenborough property lawyer but your lender will need to instruct a property lawyer from their approved list. The net result is additional charges and likely interruption.
- Choose a new solicitor to conduct the conveyancing, ensuring that they are on the mortgage company conveyancing panel.
- Convince your property lawyer to attempt to join the mortgage company panel
Do I have to visit the offices of the solicitor to sign the mortgage deed? If so, I will instruct a firm who offer conveyancing in Queenborough so that I can attend their offices if required.
Whereas this was necessary ten years ago, most banks no longer need their conveyancing panel lawyer to witness the mortgagors signature. It will still be necessary for you to hand over ID documents and there are still distinct benefits to using a local practitioner, in your case a conveyancing solicitor in Queenborough.
four months have elapsed following my purchase conveyancing in Queenborough took place. I have checked the Land Registry site which shows that I paid £200,000 when infact I paid £180,000. 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 residence 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 Queenborough with a mortgage from Lloyds TSB Bank. The builders would not move on the amount so I negotiated £7000 of extras instead. The property agent told me not to tell my lawyer about this deal as it will adversely affect my mortgage with Lloyds TSB 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.
What makes a Queenborough lease defective?
There is nothing unique about leasehold conveyancing in Queenborough. All leases are unique and drafting errors can sometimes mean that certain sections are not included. The following missing provisions could result in a defective lease:
Repairing obligations to or maintain elements of the premises Clauses dealing with recovering service charges for expenditure on the building or common parts.
You could encounter difficulties when selling your property if you have a defective lease primarily because it impacts on the ability to obtain a mortgage on the property. Birmingham Midshires, Barnsley Building Society, and Aldermore all have very detailed conveyancing instructions when it comes to what is expected in a lease. Where a lender has been advised by their lawyers that the lease does not cover certain provisions they may refuse to grant the mortgage, forcing the purchaser to withdraw.
I invested in buying a split level flat in Queenborough, conveyancing formalities finalised 4 years ago. Can you let me have an estimated range of the fair premium for a lease extension? Corresponding properties in Queenborough with over 90 years remaining are worth £197,000. The average or mid-range amount of ground rent is £55 invoiced annually. The lease ceases on 21st October 2076
You have 55 years unexpired the likely cost is going to range between £31,400 and £36,200 as well as legals.
The figure above a general guide to costs for renewing a lease, but we cannot give you the actual costs without more detailed investigations. Do not use this information in a Notice of Claim or as an informal offer. There are no doubt additional concerns that need to be considered and clearly you want to be as accurate as possible in your negotiations. Neither should you move forward placing reliance on this information without first seeking the advice of a professional.
I note that you have a search directory identifying solicitors on the lender conveyancing panel. Do Queenborough conveyancing firms pay you a referral fee if I instruct them for my conveyancing?
We are a listing service only for law firms wishing to communicate if they are on the bank conveyancing panel or other lender panels. We do not charge referral fees to the any conveyancer that you subsequently appoint for your conveyancing in Queenborough.