I am expecting a offer of a home loan from Nat West. I intend to employ the services of a Licensed Conveyancer in Manor House. Does the Nat West Conveyancing panel exclude Licensed Conveyancers?
The Nat West approved solicitor list is, like many other lenders, associated to the Council or Mortgage Lenders or BSA, open to Licensed Conveyancers regulated by the Council of Licensed Conveyancers.
Is there a reason why leasehold purchase conveyancing in Manor House is more expensive?
In short, leasehold conveyancing in Manor House and elsewhere usually requires more work compared to freehold transactions. This includes checking the lease terms, liaising with the landlord concerning serving applicable notices, obtaining up-to-date service charge and management information, procuring the freeholder’s consents and reviewing management accounts. The obligations on both the landlord and the tenant in the lease need to be studied by the buyer’s conveyancing team and read from beginning to end – no matter how many different proprietor have owned the lease since it was first granted.
Planning on purchasing a flat in Manor House. I have received an online quote from a licenced conveyancer, which states: "There will be no charge for dealing with the Building Society if you are obtaining a mortgage". I take this to mean that there will be no additional fee if the solicitor is on the Coventry BS 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 Manor House conveyancer is on the Coventry BS conveyancing panel.
I was told two weeks ago that my mortgage has been agreed to by UBS. Is it usual for UBS to only issue the offer once my solicitor in Manor House is approved on their conveyancing panel? UBS have asked my solicitor to see a copy of their Professional Indemnity Insurance Schedule.
A lender would not issue a mortgage until they have details of a lawyer on their panel. It can take a few weeks for UBS to deal with your lawyer's application to be on the UBS conveyancing panel. There's no guarantee that your solicitor will be accepted.
I have finally had an offer on a maisonette in Manor House agreed to, but there is a chain. The vendors have placed an offer on somewhere, but it’s not yet tied up, and have viewings of other apartments booked. I have instructed a local conveyancing solicitor in Manor House. What should be my next step? At what point should I apply for the mortgage with Coventry BS?
It is normal to have concerns where there is a chain as you are unlikely to want to incur expenses too early (mortgage application is in the region of £1k, then valuation, Manor House conveyancing search costs, etc). First, you should ensure that your property lawyer is on the Coventry BS approved list. Regarding the subsequent phase this very much depends on the specifics of your case, desire for this property and on the state of the market. In a rising market the majority of purchasers will apply for a home loan with Coventry BS and arrange for the valuation and only if it comes back ok would they request their lawyer to proceed with searches.
What does commercial conveyancing in Manor House cover?
Non domestic conveyancing in Manor House covers a broad range of services, supplied by regulated solicitors, relating to business premises. By way of example, this area of conveyancing can cover the sale or purchase of freehold business premises or, more commonly, the assignment of existing business tenancies or the drafting of new leasing arrangements. Commercial conveyancing solicitors can also offer advice on the sale of business assets, commercial mortgages and the termination of leases.
I've recently bought a leasehold property in Manor House. Do I have any liability for service charges for periods before completion of my purchase?
Where the service charge has already been demanded from the previous owner 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 be sure 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).
Following years of dialogue we are unable to agree with our landlord on how much the lease extension should cost for our flat in Manor House. Can we issue an application to the Residential Property Tribunal Service?
if there is a absentee freeholder or where there is disagreement about what the lease extension should cost, under the Leasehold Reform, Housing and Urban Development Act 1993 you can apply to the LVT to determine the price.
An example of a Freehold Enfranchisement decision for a Manor House premises is 51 Lorne Road in November 2009. The price Payable as decided by the tribunal for the freehold reversion was £27,000. The valuation follows the order of the County Court made on 3 April 2008 granting a vesting order. This case was in relation to 1 flat. The unexpired term as at the valuation date was 71 years.