Am I correct in assuming that the fact that my solicitor in Bootle is not on my bank's conveyancing panel that there is a problem with the standard of her work?
It would not be wise to jump to that conclusion. There are plenty of plausible explanations. Just recently a report by the solicitors regulator revealed 76% of law firms surveyed had been removed from at least one lender panel. The most common reasons for removal are: (1) low volume of transactions (2) the lawyer is a sole practitioner (3) as part of the HSBC panel reduction (4) regulatory contact by SRA (5) accidental removal. Should you be concerned you should contact the Bootle conveyancing firm and ask them why they are no longer on the approved list for your lender.
As I am unsure how the conveyancing bit works what is the most important number one tip you can impart about purchase conveyancing in Bootle?
You may not hear this from too many lawyers but conveyancing in Bootle and elsewhere in England and Wales is often a confrontational experience. In other words, when it comes to conveyancing there exists lots of opportunity for conflict between you and others involved in the legal transfer of property. E.g., the vendor, property agent and on occasion a mortgage company. Appointing a lawyer for your conveyancing in Bootle is a critical decision as your conveyancer is your adviser, and is the ONE party in the legal process whose role it is to act in your legal interests and to protect you.
There is a distinct ongoing adversarial element to conveyancing- someone has to be blamed for the process being so protracted. You your first instinct should be to trust your conveyancer ahead of the other players in the home moving process.
I am expecting a DIP from Clydesdale this week so we know how much we could potentially offer as otherwise we are dependent on web based calculators (which aren't taking into account credit checks etc). Do Clydesdale recommend any Bootle solicitors on the Clydesdale conveyancing panel, or is it better to go independently?
You will need to appoint Bootle solicitors independently although you'll need to choose one on the Clydesdale conveyancing panel. The solicitor represents both you and Clydesdale through the process.
I have decided to exercise my right to buy my property in Bootle off the council. I have a mortgage agreed with Bank of Ireland. Conveyancing is new to me. Can I proceed without a solicitor easily? I think we can but we keep being told I should have one. Any advice?
It is not advisable to proceed with a house purchase without a solicitor. The council's solicitor are not acting for you. You need a solicitor for a number reasons. One of which is to verify what plans the Council have for repairs and refurbishment for the next five years. Many leaseholders have been stung for contributions of thousands of pounds. In any event, if you are getting a mortgage with Bank of Ireland, you will need to appoint a solicitor on the Bank of Ireland conveyancing panel.
I am selling my house. I had a double glazing fitted in May 2006, but did not receive a FENSA certificate or Building Regulation Certificate. My buyer's mortgage company, TSB are being a right pain. The Bootle solicitor who is on the TSB conveyancing panel is saying indemnity insurance will be fine but TSB are insisting on a building regulation certificate. Why do TSB have a conveyancing panel if they don't accept advice from them?
It is probably the case that TSB have referred the matter to their valuer. The reason why TSB may not want to accept indemnity insurance is because it does not give them any reassurance that the double glazing was correctly and safely installed. The indemnity insurance merely protects against enforcement action which is very unlikely anyway.
I am buying my first flat in Bootle with a mortgage from Bank of Ireland. The builders would not move on the price so I negotiated five thousand pounds worth of extras instead. The property agent suggested that I not to tell my conveyancer about this side-deal as it will adversely affect my mortgage with Bank of Ireland. Should I keep quiet?.
All lenders require a Disclosure of Incentives Form from the developer 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.
Over the last few months I have been searching for a flat up to £305k and found one close by in Bootle I like with amenity areas and railway links nearby, the downside is that it's only got 52 remaining years left on the lease. I can't really find anything else in Bootle for this price, so just wondered if I would be making a grave error buying a short lease?
Should you need a mortgage the shortness of the lease may be problematic. Reduce the price by the expected lease extension will cost if it has not already been discounted. If the current owner has owned the premises for at least twenty four months you could request that they start the process of the extension and then assign it to you. An additional ninety years can be extended on to the current lease and have £0 ground rent by law. You should consult your conveyancing solicitor about this matter.
I am hoping to put an offer on a small detached house that seems to meet my requirements, at a great figure which is making it more attractive. I have since found out that the title is leasehold rather than freehold. I would have thought that there are particular concerns purchasing a house with a leasehold title in Bootle. Conveyancing lawyers have not yet been instructed. Will my lawyers set out the implications of buying a leasehold house in Bootle ?
The majority of houses in Bootle are freehold rather than leasehold. In this scenario it’s worth having a local solicitor who is familiar with the area who can assist with the conveyancing process. We note that you are purchasing in Bootle so you should seriously consider looking for a Bootle conveyancing practitioner and check that they are used to dealing with leasehold houses. First you will need to check the unexpired lease term. Being a tenant you will not be at liberty to do whatever you want with the house. The lease will likely included provisions for example requiring the freeholder’spermission to conduct changes to the property. You may also be required to pay a service charge towards the maintenance of the communal areas where the property is part of an estate. Your lawyer will report to you on the legal implications.
I am the registered owner of a garden flat in Bootle, conveyancing was carried out 5 years ago. Can you work out an approximate cost of a lease extension? Similar flats in Bootle with an extended lease are worth £211,000. The ground rent is £50 invoiced every year. The lease runs out on 21st October 2093
You have 68 years remaining on your lease the likely cost is going to range between £9,500 and £11,000 as well as legals.
The figure above a general guide to costs for extending a lease, but we are not able to provide a more accurate figure in the absence of comprehensive due diligence. Do not use this information in a Notice of Claim or as an informal offer. There may be other concerns that need to be considered and clearly you should be as accurate as possible in your negotiations. Please do not move forward placing reliance on this information before seeking the advice of a professional.