I can't travel far from Whiteley. Is there a reason why all Whiteley conveyancers aren't automatically on all bank panels?
Banks highlight the fact that solicitor-led fraud is considered to be responsible for millions of pounds of fraud every year.The elimination 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 triggered a major policy change in the sector. This led to banks and building societies pruning less reputable firms from their official list of approved conveyancers .
Due to move into my new home in Whiteley next Tuesday. My lawyer now wants me to supply her with proof of content and building insurance for the property as as she informs me that she is duty bound to validate that it is in order for the mortgage company. What risks does the lender expect the insurance to cover?
Any lawyer on acting for banks would need to check that the following risks are covered fire; lightning; aircraft; explosion; earthquake; storm; flood; escape of water or oil; riot; malicious damage; theft or attempted theft; falling trees and branches and aerials; subsidence; heave;landslip;collision;accidental damage to underground services;professional fees, demolition and site clearance costs; and public liability to anyone else. There are some other issues such as the level of excess that are set out in a lender’s UK Finance Lenders’ Handbook instructions. These requirements are not limited to conveyancing in Whiteley.
It is 10 years ago since I acquired my property in Whiteley. Conveyancing lawyers have recently been appointed on the sale but I can't find my title documents. Is this a problem?
Don’t worry too much. Firstly there is a chance that the deeds will be kept by your lender or they may stored with the solicitor who oversaw the purchase. Secondly in all probability the land will be registered at the land registry and you will be able to prove you are the registered owner by your conveyancing lawyers acquiring up to date copy of the land registers. The vast majority of conveyancing in Whiteley involves registered property but in the unlikely event that your property is not registered it is more of a problem but is not insurmountable.
Just bought a terraced house in Whiteley , how long will it take for the Land Registry to record the transfer to my name? My Whiteley conveyancing solicitor has been painfully slow, so I want to be certain that my name is recorded.
There is nothing unique when it comes to conveyancing in Whiteley registration formalities. Rather than based on location, timescales can differ subject to the party submitting the application, whether there are errors and if the Land registry must send notices to any third persons or bodies. As of today roughly three quarters of submission are fully addressed within two weeks but some can be subject to protracted hold-ups. Registration takes place once the buyer is living at the property so registration formalities is not always primary concern yet where there is a degree of urgency associated with the registration then you or your conveyancer must communicate with the Registry to express the reasoning for the application to be prioritised.
I'm purchasing a new build house in Whiteley with the aid of help to buy. The builders refused to reduce the price so I negotiated five thousand pounds worth of extras instead. The property agent told me not disclose to my conveyancer about the extras as it will put at risk my mortgage with the lender. Should I keep quiet?.
All lenders require a Disclosure of Incentives Form from the builder 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.
There are only Fifty years unexpired on my flat in Whiteley. I now want to extend my lease but my freeholder is absent. What should I do?
If you meet the appropriate requirements, under the Leasehold Reform, Housing and Urban Development Act 1993 you can submit an application to the County Court for an order to dispense with the service of the initial notice. This will enable the lease to be lengthened by the magistrate. You will be obliged to prove that you have done all that could be expected to locate the landlord. For most situations an enquiry agent should be useful to try and locate and to produce a report to be accepted by the court as proof that the freeholder is indeed missing. It is advisable to get professional help from a solicitor in relation to devolving into the landlord’s absence and the application to the County Court covering Whiteley.
I purchased a garden flat in Whiteley, conveyancing having been completed half a dozen years ago. How much will my lease extension cost? Equivalent properties in Whiteley with a long lease are worth £216,000. The ground rent is £50 levied per year. The lease runs out on 21st October 2091
With just 70 years left to run we estimate the premium for your lease extension to range between £9,500 and £11,000 plus plus your own and the landlord's "reasonable" professional fees.
The figure that we have given is a general guide to costs for renewing a lease, but we cannot give you the actual costs in the absence of detailed due diligence. Do not use the figures in tribunal or court proceedings. There are no doubt other issues that need to be considered and clearly you want to be as accurate as possible in your negotiations. Neither should you move forward placing reliance on this information before getting professional advice.