My mortgage broker says he needs my Witham solicitor’s panel reference for the Nationwide conveyancing panel. How do I discover this. I have called my local Witham office but they cant find it on their system.
Have you tried speaking to your Witham conveyancing practitioner about this?. Most Witham conveyancing practices will keep a file or database of lender panel information which would include, if applicable, their conveyancing panel details for each bank.
Are the Witham conveyancing solicitors identified as being on the Lloyds conveyancing panel, together with their details provided by Lloyds?
Witham conveyancing firms themselves provide us confirmation that they are on the Lloyds conveyancing panel as opposed to being supplied with a list from Lloyds directly.
It is not clear whether my lender requires a lease extension. I have called my Witham bank branch on a couple of occasions and was told it wasn't a problem and they will lend. My Witham conveyancing solicitor - who is on the bank conveyancing panel- telephoned and was told they refuse to lend based on their published requirements. I simply don't know who is right.
As long as the lawyer is on the bank panel, they must follow the CML Handbook provisions for the bank. Unless your lawyer obtains specific confirmation in writing that the mortgage company will go ahead, your lawyer has no choice but to refrain from exchanging contract and committing you to the purchase. We would suggest that you ask the lender to contact your lawyer in writing confirming that they will accept the number of years remaining.
I recently had an offer accepted on a house in Witham. My mortgage broker recommended their conveyancers. I paid an upfront payment of £200. Shortly after, the conveyancing practitioner contacted me to say that they were not on the Virgin Money conveyancing panel. Am I right in thinking that I should be due a refund?
You should be able to recover this from the law firm if they were not on the Virgin Money panel. They should have asked at the outset which lender you were obtaining a mortgage with. An important lesson to readers of this site is to check that the lawyers are on the appropriate lender panel.
Planning on purchasing a apartment in Witham. I have received an online quote from a licenced conveyancer, which states: "There will be no charge for dealing with the Lender if you are obtaining a mortgage". I take this to mean that there will be no additional fee if the solicitor is on the HSBC conveyancing panel. I wanted to make sure it means there will be no additional fees for dealing with the mortgage.
They are simply saying that the cost for acting for the lender is included in the fee being quoted. It is worth you checking that the Witham conveyancer is on the HSBC conveyancing panel.
I am looking for a leasehold apartment up to £235,500 and found one round the corner in Witham I like with open areas and transport links in the vicinity, the downside is that it only has 61 years unexpired on the lease. I can't really find anything else in Witham suitable, so just wondered if I would be making a grave error acquiring a lease with such few years left?
Should you require a mortgage the shortness of the lease will be a potential deal breaker. Discount the price by the expected lease extension will cost if not already taken into account. If the current proprietor has owned the property for at least twenty four months you could request that they commence the lease extension formalities and then assign it to you. An additional ninety years can be extended on to the existing lease term with a zero ground rent applied. You should speak to your conveyancing lawyer regarding this.
As co-executor for the will of my grandfather I am selling a property in Newport but reside in Witham. My conveyancer (who is 200 miles awayrequires that I sign a statutory declaration ahead of the transaction finalising. Could you suggest a conveyancing lawyer in Witham who can witness this legal document for me?
Technically speaking you are not likely to be required to have the documents attested by a conveyancing solicitor. Normally or notary public or solicitor will suffice regardless of whether they are located in Witham
I am on look out for some leasehold conveyancing in Witham. Before I set the wheels in motion I would like to find out the number of years remaining on the lease.
If the lease is registered - and 99.9% are in Witham - then the leasehold title will always include the basic details of the lease, namely the date; the term; and the original parties. From a conveyancing perspective such details then enable any prospective buyer and lender to confirm that any lease they are looking at is the one relevant to that title. For any other purpose, such as confirming how long the term was granted for and calculating what is left, then the register should be sufficient on it's own.
I own a basement flat in Witham, conveyancing having been completed 10 years ago. Can you shed any light on how much the price could be for a 90 year extension to my lease? Corresponding flats in Witham with over 90 years remaining are worth £195,000. The ground rent is £45 charged once a year. The lease ends on 21st October 2085
With 63 years remaining on your lease we estimate the premium for your lease extension to be between £16,200 and £18,600 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 are not able to supply the actual costs without more detailed due diligence. Do not use this information in tribunal or court proceedings. There may be additional concerns that need to be taken into account and clearly you want to be as accurate as possible in your negotiations. Neither should you take any other action based on this information before seeking the advice of a professional.