It has come to my attention via my broker that my Shillington lawyer is not on the bank Conveyancing panel. What can I do to be sure whether this is correct?
You need to call your Shillington lawyer directly. It is reasonable to expect your lawyer to inform you what has happened. Where they are not on the panel they may recommend you to a Shillington conveyancing practice that is on the approved list of lawyers for your bank.
Our nephew is purchasing a newly built flat in Shillington with a mortgage from Bank of Ireland. His conveyancer has advised him of a delay in completing the ‘Disclosure of Incentive Form’. What is this document - I have never come across this before?
The document is intended to provide information to the main parties involved in the purchase. Therefore, it will be provided to your son’s lawyer who should be on the Bank of Ireland conveyancing panel as a standard part of the process, and to the valuer when requested. The developer will be required to start the process by downloading the form and completing it. The form will therefore need to be available for the valuer at the time of his or her site visit. The form should be sent to the Bank of Ireland conveyancing panel solicitor as early as possible, in order to avoid any last minute delays, and no later than at exchange of contracts.
Two weeks ago we had a mortgage agreed in principle with Kent Reliance. Shillington conveyancing practitioners were selected. What is the average time that one could expect to receive a mortgage offer from Kent Reliance?
Some lenders take longer than others. Have Kent Reliance done the survey? Have you advised Kent Reliance as to your lawyers' details and checked that your lawyers are on the Kent Reliance conveyancing panel? Sometimes it can take as long as six weeks for a mortgage offer to be issued.
I am currently in the process of buying my council flat in Shillington. I have a mortgage offer with Santander. Conveyancing is not something I have any knowledge of. Can I proceed without a solicitor easily? I think we can but we keep being told I should have one. Any advice?
It is not advisable to proceed with a house purchase without a solicitor. The council's solicitor are not acting for you. You need a solicitor for a number reasons. One of which is to verify what plans the Council have for repairs and refurbishment for the next five years. Many leaseholders have been stung for contributions of thousands of pounds. In any event, if you are getting a mortgage with Santander, you will need to appoint a solicitor on the Santander conveyancing panel.
Completion of my remortgage has taken place for my property in Shillington. Conveyancing was of an acceptable standard but I feel I should register my dissatisfaction about the lender. Who do I contact should I wish to lodge a complaint?
Almost all lenders have complaints procedures. Your first port of call should be one of the lender’s branches or the Customer Care Team at head office. In most cases complaints to a lender are resolved very quickly. However if you are not satisfied that the matter is not resolved you can write to Financial Ombudsman Service with full details of your complaint.
Just acquired a detached house in Shillington , how long will it take for the Land Registry to record my ownership? My Shillington conveyancing solicitor works at snail pace, so I want to be certain the land registry aspects are concluded.
As far as conveyancing in Shillington registration is no quicker or slower than anywhere else in England and Wales. Rather than based on location, timescales can vary according to the party submitting the application, whether there are errors and if the Land registry have to notify any interested persons or bodies. At present roughly three quarters of submission are fully dealt with within two weeks but some can be subject to extensive delays. Historically registration is effected once the purchaser has moved in to the premises so post completion formalities is not usually primary concern yet where there is a degree of urgency associated with the registration then you or your lawyers can speak with the land registry and explain the circumstances.
My uncle has recommend that I appoint his conveyancing solicitors in Shillington. Should I choose my own conveyancer?
No doubt the ideal way to choose a conveyancing solicitor is to have recommendations from friends or relatives who have actually used the solicitor that you are contemplating using.
I am attracted to a couple of apartments in Shillington both have approximately 50 years left on the leases. Should I regard a short lease as a deal breaker?
There are no two ways about it. A leasehold flat in Shillington is a wasting asset as a result of the reducing lease term. The nearer the lease gets to zero years unexpired, the more it reduces the value of the property. For most purchasers and banks, leases with less than eighty years become less and less marketable. On a more positive note, leaseholders can extend their leases by serving a Section 42 Notice. One stipulation is that they must have owned the property for two years (unlike a Section 13 notice for purchasing the freehold, when leaseholders can participate from day one of ownership). When successful, they will have the right to an extension of 90 years to the current term and ground rent is effectively reduced to zero. Before moving forward with a purchase of a property with a short lease term remaining you should talk to a solicitor specialising in lease extensions and leasehold enfranchisement. We are are happy to put you in touch with Shillington conveyancing experts who will explain the options available to you during an initial telephone conversation free of charge. More often than not it is possible to negotiate informally with the freeholder to extend the lease. They may agree to a smaller lump sum and an increase in the ground rent, but to shorter extension terms in return. You need to ensure that the agreed terms represent good long-term value compared with the standard benefits of the Section 42 Notice and that onerous clauses are not inserted into any redrafting of the lease.
I acquired a split level flat in Shillington, conveyancing formalities finalised 4 years ago. Can you let me have an estimated range of the fair premium for a lease extension? Comparable flats in Shillington with a long lease are worth £191,000. The ground rent is £55 charged once a year. The lease ceases on 21st October 2077
With just 53 years left to run we estimate the premium for your lease extension to range between £27,600 and £31,800 plus legals.
The figure that we have given is a general guide to costs for renewing a lease, but we are not able to supply the actual costs without more detailed investigations. Do not use this information in tribunal or court proceedings. There are no doubt additional issues that need to be considered and you obviously should 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.