Me and my partner are buying a 3 bedroom flat in Welwyn Garden City with a mortgage. We like our Welwyn Garden City solicitor, but the mortgage company says he's not on their "panel". We have to appoint one of the bank panel firms or keep our Welwyn Garden City conveyancer and pay for one of their panel lawyers to act for them. We feel that this is inequitable; is there anything we can do?
No, not really. Your mortgage offer is subject to its terms and conditions, one of which will be that lawyers will on the lender’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. Another option that might be available is for your Welwyn Garden City conveyancing lawyer to apply to be on the conveyancing panel.
My brother-in-law has suggested I instruct a conveyancing solicitor in Welwyn Garden City. I I would like to check whether they are accepted on the Virgin Money conveyancing panel. Could you or the lender confirm if they are on the panel?
The first thing to do is phone the conveyancer and enquire if they are on the lender panel. Alternatively you should call Virgin Money who may be able to confirm.
I am buying my first flat in Welwyn Garden City with the aid of help to buy. The sellers refused to reduce the price so I negotiated £7000 of fixtures and fittings instead. The house builders rep advised me not inform my solicitor about the extras as it could adversely affect my mortgage with Barnsley Building Society. Do I keep my lawyer in the dark?.
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.
Yesterday I discovered that there is a flying freehold element on a house I put an offer in last month in what was supposed to be a quick, no chain conveyancing. Welwyn Garden City is where the house is located. Can you shed any light on this issue?
Flying freeholds in Welwyn Garden City are rare but are more likely to exist in relation to terraced houses. Even where you use a solicitor outside Welwyn Garden City you must be sure that your lawyer goes through the deeds thoroughly. Your bank may require your conveyancing solicitor to take out an indemnity policy. Some of the more diligent conveyancing solicitors in Welwyn Garden City may decide that this is not enough and that the deeds be re-written to give you the most up to date legal protection. If so, the next door neighbour also had to sign up to the revised deeds.It is possible that your lender will not accept the situation so the sooner you find out the better. You should also check with your insurance broker as to whether they will insure a flying freehold property.
My husband and I are new on the property ladder - agreed a price, but the selling agent has warned us that the owners will only issue a contract if we instruct their recommended conveyancers as they are insisting on a ‘quick sale’. My instinct tells me that we should use a local conveyancer who is accustomed to conveyancing in Welwyn Garden City
It is highly unlikely the sellers are behind this. Should the seller desire ‘a quick sale', turning down a serious buyer is counter productive. Avoid the agents and go straight to the owners and make the point that (a)you are keen to buy (b)you are excited to move forward, with finances arranged © you are chain free (d) you wish to move quickly (e)but you will continue to use your preferred Welwyn Garden City conveyancing lawyers - rather thanthose that will provide the negotiator at the agency a commission or achieve conveyancing figures set by senior management.
Completion is due on our sale of a £225,000 apartment in Welwyn Garden City on Tuesday in a week. The landlords agents has quoted £420 for Landlord’s certificate, insurance certificate and 3 years service charge statements. Is the landlord entitled to charge exorbitant fees for a leasehold conveyance in Welwyn Garden City?
Welwyn Garden City conveyancing on leasehold apartments nine out of ten times necessitates administration charges invoiced by management companies :
Answering pre-exchange questions
Where consent is required before sale in Welwyn Garden City
Copies of the building insurance and schedule
Deeds of covenant upon sale
Registering of the assignment of the change of lessee after a sale
I inherited a 1st floor flat in Welwyn Garden City, conveyancing was carried out December 2000. Can you please calculate a probable premium for a statutory lease extension? Comparable properties in Welwyn Garden City with a long lease are worth £206,000. The average or mid-range amount of ground rent is £45 invoiced annually. The lease runs out on 21st October 2087
With only 66 years remaining on your lease the likely cost is going to be between £11,400 and £13,200 plus plus your own and the landlord's "reasonable" 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. You should not use the figures in tribunal or court proceedings. There may be other issues 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 before seeking the advice of a professional.