It has come to my attention via my mortgage broker that my Birch and Middleton property lawyer is not on the bank Conveyancing panel. How can I be certain if this is indeed the case?
The first thing you need to do is to contact your Birch and Middleton conveyancer. You lawyer should inform you what has happened. Where they are not on the panel they may be able to suggest a Birch and Middleton conveyancing practice that is on the approved list of lawyers for your bank.
We are purchasing a newly built flat in Birch and Middleton and my solicitor is telling me that she is duty bound to the bank to disclose incentives from the developer. I am nearing the developer’s deadline to exchange and I have no desire to delay matters. Is my lawyer right?
You should not exchange unless you have been advised to do so by your solicitor. A precondition to being on a lender panel is to comply with the UK Finance Lenders’ Handbook specifications. The CML Conveyancing Handbook requires that your lawyer have the appropriate Disclosure of Incentive form completed by the developer and accepted by your lender.
My property lawyer in Birch and Middleton has never been on on the National Westminster Bank Conveyancing Panel. Can I still use my family solicitor even though they are not on the National Westminster Bank list of approved lawyers?
Your options are as follows:
- Carry on with your preferred Birch and Middleton solicitors but National Westminster Bank will need to use a lawyer on their panel. This will inevitably rack up the total legal charges as well as cause frustration.
- Find an alternative practitioner to act in the conveyancing, remembering to check they are National Westminster Bank approved.
- Try to convince your National Westminster Bank solicitor to seek to join the National Westminster Bank panel
I'm purchasing a new build house in Birch and Middleton with a mortgage from Clydesdale. The builders refused to budge the amount so I negotiated £7000 of additionals instead. The house builders rep advised me not to tell my conveyancer about this side-deal as it would adversely affect 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.
Can you offer any advice when it comes to appointing a Birch and Middleton conveyancing practice to carry out our lease extension conveyancing?
If you are instructing a property lawyer for your lease extension (regardless if they are a Birch and Middleton conveyancing practice) it is most important that he or she should be familiar with the legislation and specialises in this area of work. We suggest that you make enquires with several firms including non Birch and Middleton conveyancing practices before you instructing a firm. If the firm is ALEP accredited then so much the better. The following questions could be of use:
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Can they put you in touch with clients in Birch and Middleton who can give a testimonial?
I acquired a 1st floor flat in Birch and Middleton, conveyancing having been completed in 2009. Can you give me give me an indication of the likely cost of a lease extension? Equivalent flats in Birch and Middleton with an extended lease are worth £265,000. The ground rent is £50 yearly. The lease ceases on 21st October 2099
You have 75 years unexpired we estimate the price of your lease extension to span between £8,600 and £9,800 as well as legals.
The suggested premium range above a general guide to costs for extending a lease, but we cannot give you a more accurate figure without more comprehensive investigations. Do not use this information in a Notice of Claim or as an informal offer. There may be additional concerns 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 without first seeking the advice of a professional.