I am considering applying for a Leeds Building Society mortgage for purchase of a new build (under development) in Woodingdean with 70% loan to value. Is it compulsory to choose a solicitor on the conveyancing panel for Leeds Building Society ?
In theory, you could use a solicitor that is not on the Leeds Building Society conveyancing panel, but Leeds Building Society would require one of their panel solicitors to be instructed to act in their interests, and you'd have to pay for this - so most people instruct a panel solicitor. It's also easier, as otherwise you'd have to deal with two solicitors for the same transaction.
I'm purchasing a new build house in Woodingdean benefiting from help to buy. The sellers would not reduce the price so I negotiated £7000 of fixtures and fittings instead. The property agent told me not disclose to my solicitor about the extras as it would put at risk my loan with HSBC Bank. Do I keep my lawyer in the dark?.
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.
I opted to have a survey carried out on a property in Woodingdean prior to appointing conveyancers. I have been told that there is a flying freehold overhang to the property. The surveyor advised that some mortgage companies tend refuse to grant a mortgage on a flying freehold property.
It depends who your proposed lender is. HSBC has different instructions from Halifax. Should you wish to telephone us we can look into this further via the relevant bank. If you lender is happy to lend one our lawyers can help as they are used to dealing with flying freeholds in Woodingdean. Conveyancing will be smoother if you use a solicitor in Woodingdean especially if they regularly deal with such properties in Woodingdean.
What tools are available to identify a Woodingdean law firm on the Barclays Direct conveyancing panel? I have a car and am happy to travel upto 25kilometers to meet the lawyer.
Feel free to make use of the search on this website. Please pick a bank and your location and you will see a number of Woodingdean conveyancing lawyers locally. We have listed some Woodingdean conveyancing firms at the bottom of this page and you can ring them to see whether they are on the Barclays Direct panel
Due to exchange soon on a ground floor flat in Woodingdean. Conveyancing lawyers inform me that they will have a report out to me within the next couple of days. What should I be looking out for?
The report on title for your leasehold conveyancing in Woodingdean should include some of the following:
-
Does the lease prevent you from subletting the flat, or having a home office for business Responsibility for repairing the window frames Information concerning the obligations in the lease to to contribute towards maintenance costs - in relation to the building, and the more general rights a tenant has What you can do if an adjoining owner breaches a clause of their lease? Details of the parties to the lease, for example these could be the (you), head lessor, landlord
I bought a 2 bed flat in Woodingdean, conveyancing having been completed half a dozen years ago. Can you shed any light on how much the price could be for a 90 year extension to my lease? Similar properties in Woodingdean with an extended lease are worth £192,000. The ground rent is £55 invoiced every year. The lease ceases on 21st October 2079
You have 54 years unexpired we estimate the price of your lease extension to be between £32,300 and £37,400 as well as 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 cannot give you the actual costs without more detailed due diligence. You should not use this information in a Notice of Claim or as an informal offer. There may be additional concerns that need to be taken into account and clearly you should be as accurate as possible in your negotiations. You should not move forward based on this information without first seeking the advice of a professional.
I was informed by my lender that their panel solicitors operate no completion no fee basis for conveyancing in Woodingdean. I had a purchase fall through and now the conveyancers have invoiced for search fees! They are claiming that the fees are independent!
in offering "no completion no fee" Woodingdean conveyancing firms are waiving their fees for any work carried out. We should point out that this is NOT an insurance scheme. Disbursements aren’t covered – where the property lawyer have to pay money out to third parties, for instance Woodingdean local search fees