My lawyer in Sandwich is not listed on the Nationwide Building Society Conveyancing Panel. Is it possible for me to continue with my prefered solicitor notwithstanding that they are not on the Nationwide Building Society list of approved lawyers?
Your options are as follows:
- Complete the purchase with your preferred Sandwich solicitors but Nationwide Building Society will need to retain a conveyancer on their list of acceptable firms. This will inevitably rack up the overall legal charges as well as result in delays.
- Get an alternative practitioner to to deal with the conveyancing, not forgetting to check they are Nationwide Building Society approved.
- Try to convince your Nationwide Building Society based solicitor to try to join the Nationwide Building Society panel
Me and my brother purchased a renovated Edwardian house in Sandwich. Conveyancing practitioner acted for me and HSBC Bank. I happened to do a free search for it on the Land Registry database and I saw two entries: one for freehold, another for leasehold under the exact same property. Is it worth asking HSBC Bank to clarify?
You should assess the Freehold register you have again and check the Charges Register as there may be mention of a lease. The best way to be sure that you are also the registered proprietor of the leasehold and freehold title as well is to check (£3). It is not completely unheard of in Sandwich and other areas of the country and poses no real issues for owners other than when they remortgage they have to account for both freehold and leasehold interests when dealing with mortgage companies. You can also question the situation with your conveyancing lawyer who conducted the work.
I'm buying my first flat in Sandwich with a mortgage from Accord Mortgages Ltd. The developers refused to budge the price so I negotiated 6k of additionals instead. The sale representative suggested that I not inform my lawyer about this deal as it will adversely affect my loan with the 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.
Due to the advice of my in-laws I had a survey completed on a property in Sandwich ahead of instructing conveyancers. I have been told that there is a flying freehold overhang to the house. My surveyor advised that some lenders may refuse to grant a mortgage on this type of house.
It depends who your proposed lender is. Santander has different requirements from Nationwide. If you call us we can check via the relevant lender. If you lender is happy to lend one our lawyers can assist as they are accustomed to dealing with flying freeholds in Sandwich. Conveyancing may be slightly more expensive based on your lender's requirements.
I have recently realised that I have 62 years unexpired on my lease in Sandwich. I need to get lease extension but my freeholder is missing. What options are available to me?
On the basis that you qualify, under the Leasehold Reform, Housing and Urban Development Act 1993 you can apply to the County Court for for permission to dispense with the service of the initial notice. This will mean that your lease can be granted an extra 90 years by the magistrate. However, you will be required to demonstrate that you or your lawyers have done all that could be expected to track down the landlord. For most situations a specialist should be useful to conduct investigations and prepare a report to be accepted by the court as proof that the landlord is indeed missing. It is wise to seek advice from a property lawyer both on devolving into the landlord’s disappearance and the vesting order request to the County Court covering Sandwich.
I invested in buying a 2 bed flat in Sandwich, conveyancing having been completed 8 years ago. Can you let me have an estimated range of the fair premium for a lease extension? Corresponding flats in Sandwich with a long lease are worth £186,000. The average or mid-range amount of ground rent is £55 yearly. The lease ends on 21st October 2078
With just 52 years remaining on your lease the likely cost is going to range between £29,500 and £34,000 plus professional fees.
The suggested premium range that we have given is a general guide to costs for extending a lease, but we cannot give you a more accurate figure in the absence of detailed due diligence. You should not use the figures in tribunal or court proceedings. There may be other concerns that need to be considered and clearly you should 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.