I am obtaining a mortgage offer from Lloyds. I intend to retain the legal services of a Licensed Conveyancer in Sheerness. Does the Lloyds Conveyancing panel exclude Licensed Conveyancers?
The Lloyds approved solicitor list is, like many other lenders, associated to the Council or Mortgage Lenders or BSA, open to Licensed Conveyancers regulated by the CLC.
I have given 8 weeks notice to my current landlord and must be out of my let out apartment in Sheerness by 4/6/2021. Conveyancing for my house purchase is underway. How realistic is it to complete in a couple of weeks as don't want to have to move into temporary accommodation?
The normal practice is not to provide notice for your tenancy until your lawyer suggests that you should. If you have not previously done so, update to your conveyancer and urge them to they seek the assistance the other lawyers, try to an agreed time frame that all parties will aim to achieve
I have an AIP. The lender mentioned the home loan came with free conveyancing. Is the implication that I have to instruct their panel lawyer as I would prefer to appoint a Sheerness based conveyancing firm?
You should check but the the probability is that allocate you one of their panel solicitors should you accept the "fee-free" offer. Call the mortgage company and determine if they allow a cash alternative. In the past a few mortgage companies offered a £250 cashback as a further option in which case you could put that amount towards the cost for your conveyancing solicitor in Sheerness.
I'm buying my first flat in Sheerness with the aid of help to buy. The sellers would not reduce the price so I negotiated five thousand pounds worth of extras instead. The property agent advised me not reveal to my conveyancer about the extras as it would impact my mortgage with Halifax. 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.
Due to the advice of my in-laws I had a survey completed on a property in Sheerness in advance of retaining conveyancers. I have been informed that there is a flying freehold element to the property. The surveyor has said that some mortgage companies will not issue a loan on a flying freehold premises.
It depends who your proposed lender is. Bank of Scotland has different instructions for example to Nationwide. Should you wish to call us we can check via the relevant bank. If you lender is happy to lend one our lawyers can assist as they are accustomed to dealing with flying freeholds in Sheerness. Conveyancing may be slightly more expensive based on your lender's requirements.
Can you offer any advice when it comes to choosing a Sheerness conveyancing firm to deal with our lease extension?
When appointing a solicitor for lease extension works (regardless if they are a Sheerness conveyancing practice) it is imperative that they be familiar with the legislation and specialises in this area of conveyancing. We advise that you speak with several firms including non Sheerness conveyancing practices prior to instructing a firm. If the firm is ALEP accredited then that’s a bonus. The following questions could be helpful:
Can they put you in touch with clients in Sheerness who can give a testimonial? If the firm is not ALEP accredited then why not?
I acquired a 1 bedroom flat in Sheerness, conveyancing having been completed 10 years ago. Can you please calculate a probable premium for a statutory lease extension? Equivalent properties in Sheerness with over 90 years remaining are worth £170,000. The average or mid-range amount of ground rent is £50 levied per year. The lease runs out on 21st October 2099
You have 78 years remaining on your lease the likely cost is going to range between £7,600 and £8,800 as well as costs.
The figure that we have given is a general guide to costs for renewing a lease, but we cannot give you a more accurate figure in the absence of comprehensive investigations. Do not use this information in a Notice of Claim or as an informal offer. There are no doubt other issues that need to be taken into account and clearly you should be as accurate as possible in your negotiations. Neither should you take any other action placing reliance on this information before seeking the advice of a professional.