I am acquiring a maisonette in Riding Mill. My Solicitor is not on the lender solicitor list. Can I still continue with my Riding Mill conveyancing solicitor notwithstanding that they are not on the mortgage company panel of approved conveyancing solicitors?
Your options include
- Carry on with your existing Riding Mill property lawyer but your lender will need to appoint a solicitor on their conveyancing panel. The net result is additional charges and probable frustration.
- Get a fresh conveyancing practitioner to act in the purchase, ensuring that they are on the mortgage company conveyancing panel.
- Convince your conveyancing practitioner to pull out all the stops to get accepted on the bank’s panel of solicitors
I am purchasing my first flat in Riding Mill benefiting from help to buy. The developers would not budge the price so I negotiated 6k of fixtures and fittings instead. The estate agent advised me not reveal to my solicitor about this deal as it may jeopardize my mortgage with Bank of Ireland. Is this normal?.
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.
How simple is it to use the search facility to get a fee calculation from a conveyancing lawyer in Riding Mill on the authorised to act for my bank?
1st pick a lender such as Birmingham Midshires, Bank of Scotland or Britannia then choose your location such as Riding Mill. Conveyancing organisations in Riding Mill and beyond will then be shown.
Am I better off to go with a Riding Mill conveyancing solicitor who is local to the property I am purchasing? An old friend can deal with the legal work but they are based 200miles drive away.
The benefit of a high street Riding Mill conveyancing practice is that you can drop in to execute paperwork, present your identification documents and pester them if necessary. They will also have local insight which is a bonus. However it's more important to get someone that will pull out all the stops for you. If you know people who instructed your friend and they were happy that should outweigh using an unfamiliar Riding Mill conveyancing lawyer just because they are local.
What advice can you give us when it comes to choosing a Riding Mill conveyancing firm to deal with our lease extension?
If you are instructing a conveyancer for lease extension works (regardless if they are a Riding Mill conveyancing practice) it is most important that they be familiar with the legislation and specialises in this area of conveyancing. We recommend that you talk with two or three firms including non Riding Mill conveyancing practices prior to instructing a firm. Where the conveyancing practice is ALEP accredited then that’s a bonus. The following questions could be of use:
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What are the charges for lease extension conveyancing? If they are not ALEP accredited then why not?
I invested in buying a 1 bedroom flat in Riding Mill, conveyancing was carried out in 2004. Can you let me have an estimated range of the fair premium for a lease extension? Comparable flats in Riding Mill with over 90 years remaining are worth £179,000. The average or mid-range amount of ground rent is £65 levied per year. The lease ceases on 21st October 2081
With only 57 years left to run we estimate the premium for your lease extension to be between £26,600 and £30,800 plus professional fees.
The figure that we have given is a general guide to costs for extending a lease, but we are not able to supply a more accurate figure in the absence of detailed due diligence. Do not use the figures in a Notice of Claim or as an informal offer. There are no doubt additional issues that need to be taken into account and you obviously want to be as accurate as possible in your negotiations. Please do not move forward based on this information without first seeking the advice of a professional.
Would local authority consent be required to change a house into a couple of appartments in Riding Mill? This has taken place to a property opposite to a relative in Riding Mill and was unaware of it happening until after the works were complete.
Planning Permission yes. Building Reg Approval yes.