Two weeks ago we had a mortgage agreed in principle with Bank of Ireland. Waddon conveyancing solicitors have been chosen. What is the average time that one could expect to receive a mortgage offer from Bank of Ireland?
There is no definitive answer here. Have Bank of Ireland completed the valuation? Have you informed Bank of Ireland as to your lawyers' details and checked that your lawyers are on the Bank of Ireland conveyancing panel? It is not unusual for a mortgage offer to take a month to come through.
I had an offer accepted on a house in Waddon on 19/1/2024, valuation was booked 4 days later, all came back fine. Conveyancer retained, so all that was missing was my mortgage offer. Having made daily calls to Lloyds and chasing them on my offer, I have now been told that my offer will not be issued unless the lawyer is on the Lloyds conveyancing panel. Can the lender hold off the offer?
Mortgage companies tend not to not issue a mortgage until they have details of a lawyer on their panel. It can take a few weeks for Lloyds to deal with your lawyer's application to be on the Lloyds conveyancing panel. There's no guarantee that your solicitor will be accepted.
Our sealed bid on a semi in Waddon has been accepted, but there is a chain. The sellers have offered on somewhere, however it’s not been accepted yet, and have viewings of other flats booked. I have chosen a bricks and mortar conveyancing solicitor in Waddon. What should be my next step? At what point do I apply for the mortgage with RBS?
It is understandable to have anxieties where there is a chain as you are unlikely to want to incur costs too early (home loan application is in the region of £1k, then survey, Waddon conveyancing search costs, etc). First, you should check that your conveyancer is on the RBS approved list. Concerning the subsequent stages this very much depends on the uniqueness of your case, motivation for this property and on the state of the market. During a buoyant market many buyers will apply for a home loan with RBS and arrange for the valuation and only if it was satisfactory would they pay their lawyer to proceed with the conveyancing in Waddon.
My partner and I are selling our house in Waddon and according to the buyers it appears that there is a risk of it being built land that was not decontaminated. Any high street Waddon conveyancer would know that there is no such problem. It does beg the question why the buyers used a nationwide conveyancing firm rather than a conveyancing solicitor in Waddon. We have lived in Waddon for six years we know of no issue. Should we contact our local Authority to seek confirmation that the buyers are looking for.
It would appear that you have a conveyancing firm already. What do they say? You must enquire of your lawyer before you do anything. It is very possible that once the local authority has been informed of a potential issue it cannot be insured against (a bit like being diagnosed with a serious illness and then taking out health insurance to cover that same illness)
It has been 3 months following my purchase conveyancing in Waddon took place. I have checked the Land Registry website which shows that I paid £200,000 when infact I paid £215,000. 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 property 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.
About to purchase a new build apartment in Waddon. Conveyancing is daunting at the best of times but I have never purchased a new build flat before. What sort of enquires would be asked in new build legal work.
Set out below are examples of a few leasehold new build questions that you should expect your new-build leasehold conveyancing in Waddon
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Forfeiture - bankruptcy or liquidation must not apply under this provision. Please supply evidence that the form of Lease proposed has been approved by the Land Registry. The Lease must contain a provision on behalf of the Vendor to pay the service charges in respect of unoccupied units in order to ensure that all services can be provided. Where there is an Undertaking being granted there is the risk of forfeiture of the Headlease subject to relief if one or more of the Underlessees are willing to accept the original Head Lessee’s obligations as otherwise relief will be denied to the Underlessees. The only alternatives are the Head Lessor agreeing not to forfeit the Headlease or the Head Lessee guaranteeing to the Underlessees that it will not be in breach of the Headlease. Has the Lease plan been approved by the Land Registry and if not when will they be lodged for this purpose?
I am employed by a long established estate agent office in Waddon where we see a few flat sales jeopardised as a result of leases having less than 80 years remaining. I have received inconsistent advice from local Waddon conveyancing solicitors. Can you clarify whether the vendor of a flat can commence the lease extension formalities for the buyer?
Provided that the seller has owned the lease for at least 2 years it is possible, to serve a Section 42 notice to commence the lease extension process and assign the benefit of the notice to the purchaser. The benefit of this is that the buyer need not have to sit tight for 2 years to extend their lease. Both sets of lawyers will agree to form of assignment. The assignment needs to be completed prior to, or simultaneously with completion of the sale.
Alternatively, it may be possible to agree the lease extension with the freeholder either before or after the sale. If you are informally negotiating there are no rules and so you cannot insist on the landlord agreeing to grant an extension or transferring the benefit of an agreement to the buyer.
Notwithstanding our best efforts, we have been unsuccessful in negotiating a lease extension in Waddon. Can this matter be resolved via the Leasehold Valuation Tribunal?
in cases where there is a absentee landlord or if there is dispute about what the lease extension should cost, under the relevant legislation it is possible to make an application to the LVT to calculate the price.
An example of a Freehold Enfranchisement case for a Waddon premises is 29 Woodstock Road in April 2014. the Tribunal determined that the premiums to be paid into court in respect of the purchase of the freehold registered at HMLR under Title N0.SY3997 should be £7,217. This case related to 4 flats. The unexpired term as at the valuation date was 98 years.
To what extent are Waddon conveyancing solicitors under an obligation to the Law Society to supply clear conveyancing figures?
Inbuilt into the Solicitors Code of Conduct are specific rules and regulations as to how the Solicitors Regulation Authority (SRA) allow solicitors to publicise their charges to clients.The Law Society have practice note giving advice on how to publicise transparent charges to avoid breaching any such rule. Practice notes are not legal advice issued by the Law Society and is not intended as the only standard of good practice a conveyancing solicitor should adhere to. The Practice Note does, nevertheless, represent the Law Society’s perspective of acceptable practice for publicising conveyancing charges, and accordingly it’s a recommended read for any solicitor or conveyancer in Waddon or across England and Wales.