Me and my fiance are purchasing a 2 bedroom flat in Summerhill with a mortgage. We have a Summerhill conveyancer, but the lender advise he's not on their "panel". It appears that we have no option but to select one of the mortgage company panel firms or continue with our Summerhill property lawyer as well as pay for one of their panel firms to act for them. This feels very unfair; is there anything we can do?
Unfortunately,no. Your mortgage offer is subject to its terms and conditions, one of which will be that lawyers will on the bank’s conveyancing panel. Until recently, most lenders had large numbers of law firms on their panels: a borrower could choose one for themselves, as long as it was on the lender's panel. The lender would then simply instruct the borrower's lawyers to act for the lender, too. You can use your lender's panel lawyers or you could borrow from another lender which does not restrict your choice. A further alternative is for your Summerhill conveyancing solicitor to apply to be on the conveyancing panel.
My fiancee and I are purchasing our first house. Our solicitor has calledto ask if we want to take out additional conveyancing searches. As novices we have no idea as to what's relevant for conveyancing in Summerhill
The type of Summerhill conveyancing searches depends entirely on the property, the location, the probability of any of these risks, your knowledge of the area and risks, your general attitude to risk. What matters is that you adequately understand what information the searches could supply. You may then make a decision if you consider that you need that information. If uncertain, ask your lawyer to recommend.
We are buying a detached bungalow in Summerhill. The intention is to an extension at the rear at the property.Will the conveyancing process involve enquiries to determine if these works are allowed?
Your conveyancer will check the registered title as conveyancing in Summerhill will occasionally identify restrictions in the title deeds which prohibit certain changes or require the permission of a 3rd party. Certain additions need local authority planning permissions and approval in compliance with building regulations. Some areas are designated conservation areas and special planning restrictions apply which often prevent or impact extensions. It would be sensible to check these things with a surveyor ahead of any purchase.
I'm in the throws of looking at houses in Summerhill and I am about to put in an offer. Should I already have a solicitor appointed at this point? I will be getting a mortgage with TSB.
It would be prudent to start your search sooner rather than later. Once you decide who you want to use and once your offer is accepted you can instruct them to work for you and pass their details on to the EA. As you are getting a mortgage with TSB, ask your prospective lawyers if they are on the TSB conveyancing panel otherwise they can't do the mortgage legal work.
I am due to exchange contracts on my apartment. I had a double glazing fitted in October 2006, but did not receive a FENSA certificate or Building Regulation Certificate. My buyer's mortgage company, Nationwide are being a right pain. The Summerhill solicitor who is on the Nationwide conveyancing panel is saying indemnity insurance will be fine but Nationwide are requiring a building regulation certificate. Why do Nationwide have a conveyancing panel if they don't accept advice from them?
It is probably the case that Nationwide have referred the matter to their valuer. The reason why Nationwide 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.
Are there restrictive covenants that are commonly picked up as part of conveyancing in Summerhill?
Covenants that are restrictive in nature can be picked up when reviewing land registry title as part of the legal transfer of property in Summerhill. An 1874 stipulation that was seen was ‘The houses to be erected on the estate are each to be of a uniform elevation in accordance with the drawings to be prepared or approved by the vendor’s surveyor…’
Due to the encouragement of my in-laws I had a survey completed on a house in Summerhill before appointing conveyancers. I have been informed that there is a flying freehold element to the property. My surveyor advised that some banks tend not issue a mortgage on such a home.
It depends who your proposed lender is. Santander has different instructions from Nationwide. If you call us we can check via the relevant lender. If you lender is happy to lend one our lawyers can help as they are used to dealing with flying freeholds in Summerhill. Conveyancing may be slightly more expensive based on your lender's requirements.
Last December I purchased a leasehold flat in Summerhill. Am I liable to pay service charges for periods before completion of my purchase?
Where the service charge has already been demanded from the previous lessee and they have not paid you would not usually be personally liable for the arrears. However, your landlord may still be able to take action to forfeit the lease. It is an essential part of leasehold conveyancing for your conveyancer to be sure to have an up to date clear service charge receipt before completion of your purchase. If you have a mortgage this is likely to be a requirement of your lender.
If you purchase part way through an accounting year you may be liable for charges not yet demanded even if they relate to a period prior to your purchase. In such circumstances your conveyancer would normally arrange for the seller to set aside some money to cover their part of the period (usually called a service charge retention).
I am the registered owner of a studio flat in Summerhill, conveyancing was carried out August 2007. Can you give me give me an indication of the likely cost of a lease extension? Similar flats in Summerhill with an extended lease are worth £192,000. The ground rent is £55 invoiced annually. The lease comes to an end on 21st October 2080
With only 54 years remaining on your lease we estimate the price of your lease extension to be between £32,300 and £37,400 as well as professional fees.
The suggested premium range that we have given is a general guide to costs for renewing a lease, but we cannot give you the actual costs without more comprehensive 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 taken into account and clearly you want to be as accurate as possible in your negotiations. You should not take any other action based on this information without first getting professional advice.