Unfortunately I am unable to travel far from Whaley Bridge. Is there a reason why all Whaley Bridge lawyers aren't included on all mortgage company panels?
Banks highlight the fact that solicitor-led fraud is thought to be responsible for millions of pounds of fraud every year.The removal of law firms from lender panels started with the rise in mortgage fraud, which prompted a thematic review by the FSA in 2011. Its outcome included recommendations for mortgage companies to review their conveyancing panels, which kicked off a major policy change in the sector. This led to lenders pruning a number of firms from their panel of approved lawyers .
How can we know in advance if a Whaley Bridge conveyancing solicitor on the Lloyds panel is any good?
When it comes to conveyancing in Whaley Bridge obtaining recommendations is a sensible start. Before you go ahead, check if they offer a no sale no fee offer. Also, you often get what you pay for - a firm which quotes more, will often provide a better service than one advertising the lowest fees. We would always advise that you speak with the lawyer carrying out your conveyancing.
We have agreed to purchase a house in Whaley Bridge. A rare aspect is that the roof has a solar panel. Solicitors conducting should look into this right? Will my lender HSBC be concerned?
As you are obtaining a mortgage with HSBC your lawyer must check the conveyancing requirements set out in Part two of UK Finance Lenders’ Handbook for HSBC. The Council of Mortgage Lenders’ Handbook sets out minimum provisions for solar panel roof-space leases, and conveyancing practitioners are required to report to HSBC where a lease fails to meet these specifications. The requirements relate to the installation of panels on properties countrywide and is not restricted to Whaley Bridge.
I have today made my last payment due on my mortgage with RBS. I assume I don't need a Whaley Bridge solicitor on the RBS panel to discharge the mortgage at the Land Registry. Please confirm.
If you have finished paying off your RBS mortgage, they may send you evidence showing that you have paid it off. Alternatively they may notify the Land Registry directly. The Land Registry need to see this evidence before they will remove the RBS mortgage from the register. RBS, and any evidence they send you, will determine the action you need to take. In cases where no conveyancer is acting for you and you have paid off your mortgage:
- but are not moving to another property
- where RBS has sent the Land Registry the discharge electronically, and
- RBS has instructed the Land Registry to do so
five months have gone by since my purchase conveyancing in Whaley Bridge took place. I have checked the Land Registry site which shows that I paid £200,000 when infact I paid £180,000. 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 asset 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.
I'm purchasing my first flat in Whaley Bridge with the aid of help to buy. The builders refused to budge the amount so I negotiated 6k of extras instead. The house builders rep advised me not disclose to my conveyancer about this extras as it would affect my loan with the lender. 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.
I've recently bought a leasehold property in Whaley Bridge. Do I have any liability for service charges for periods before completion of my purchase?
In a situation 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. A critical element of leasehold conveyancing for your conveyancer to ensure 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 own a 1st floor flat in Whaley Bridge, conveyancing having been completed half a dozen years ago. How much will my lease extension cost? Corresponding properties in Whaley Bridge with over 90 years remaining are worth £260,000. The average or mid-range amount of ground rent is £45 invoiced annually. The lease comes to an end on 21st October 2099
With only 74 years left to run we estimate the price of your lease extension to be between £8,600 and £9,800 plus legals.
The suggested premium range above a general guide to costs for renewing a lease, but we are not able to provide a more accurate figure in the absence of comprehensive due diligence. Do not use this information in a Notice of Claim or as an informal offer. There may be other issues that need to be taken into account and you obviously should be as accurate as possible in your negotiations. Please do not move forward placing reliance on this information before getting professional advice.
A couple of weeks ago I was told by my mortgage company that their approved solicitors operate no sale no charge basis for conveyancing in Whaley Bridge. I had a purchase fall through and now the solicitors have requested search fees! They are stating that the fees are independent!
By promising "no completion no fee" Whaley Bridge conveyancing firms are writing off their charges for any work conducted. We must stress this is not to be regarded as an insurance scheme. you will still required to pay for any disbursements that the solicitor has outlayed for you for instance Whaley Bridge local authority checks