My lawyer has identified a a legal deficiency with the lease for the flat we are purchasing in Eccles. The other side have put forward defective title insurance as a workaround. We are content with insurance and will cover the costs. Our property lawyer has advised that he must ensure that the bank is willing to move forward with this solution. Who is the client here, us or the mortgage company ?
The short answer to your last question is that, notwithstanding the potential for a conflict of interest, you and the lender are the client. Your solicitor must comply with the UK Finance Lenders’ Handbook requirements. The UK Finance Lenders’ Handbook conditions require your lawyer to disclose issues such as defects with the lease so that the bank can be afforded the opportunity to check with their valuer as to the extent that the value of the property is affected. Should you refuse to allow your lawyer to make the appropriate notification then your conveyancing practitioner will have no choice but to discontinue acting for you.
I am currently in the process of buying my council flat in Eccles. I have a mortgage agreed with Bank of Ireland. Conveyancing is not something I have any knowledge of. Can I proceed without a solicitor easily? I think we can but we keep being told I should use 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 flat. I had a double glazing fitted in January 2008, but did not receive a FENSA certificate or Building Regulation Certificate. My buyer's mortgage company, Nottingham are being problematic. The Eccles solicitor who is on the Nottingham conveyancing panel is saying indemnity insurance will be fine but Nottingham are insisting on a building regulation certificate. Why do Nottingham have a conveyancing panel if they don't accept advice from them?
It is probably the case that Nottingham have referred the matter to their valuer. The reason why Nottingham 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.
After shopping around on the internet I have found a Eccles conveyancing practitioner having checked that they are on the Barclays conveyancing panel. Does my lawyer arrange the survey of the property?
Barclays will need an independent valuation of the property. Your lawyer will not arrange this. Usually Barclays will appoint their own surveyor to do this, and you will have to pay for it. Remember that this is a valuation for mortgage purposes and not a survey. You may wish to consider appointing your own Eccles surveyor to carry out a survey or prepare a home buyers report on the property. It is up to you to satisfy yourself that the property is structurally sound before you buy it. If the survey or report reveals that building work is needed, you should tell your solicitor. You may wish to renegotiate with the seller.
Due to the input of my in-laws I had a survey completed on a house in Eccles before appointing lawyers. I have been advised that there is a flying freehold overhang to the property. The surveyor advised that some mortgage companies tend refuse to issue a loan on such a house.
It depends who your proposed lender is. Santander has different instructions for example to Halifax. Should you wish to call us we can look into this further via the relevant bank. If you lender is happy to lend one our lawyers can assist as they are used to dealing with flying freeholds in Eccles. Conveyancing may be slightly more expensive based on your lender's requirements.
As co-executor for the estate of my grandfather I am disposing of a residence in Monmouth but live in Eccles. My solicitor (based 300 kilometers awayhas requested that I sign a statutory declaration ahead of the transaction finalising. Can you recommend a conveyancing lawyer in Eccles to witness and place their company stamp on the document?
Technically speaking you are not likely to be required to have the documents witnessed by a conveyancing solicitor. Normally or notary public or solicitor will be fine regardless of whether they are based in Eccles
Back In 2001, I bought a leasehold flat in Eccles. Conveyancing and Halifax mortgage organised. I have received a letter from someone claiming to own the freehold. Attached was a demand for arrears of ground rent dating back to 1995. The conveyancing solicitor in Eccles who previously acted has long since retired. Do I pay?
The first thing you should do is contact the Land Registry to make sure that the individual purporting to own the freehold is in fact the registered owner of the freehold reversion. You do not need to instruct a Eccles conveyancing lawyer to do this as you can do this on the Land Registry website for less than a fiver. You should note that in any event, even if this is the rightful landlord, under the Limitation Act 1980 no more than 6 years of rent can be collected.
I bought a 2 bed flat in Eccles, conveyancing having been completed 10 years ago. Can you let me have an estimate of the premium that my landlord can legally expect in return for granting a renewal of my lease? Similar properties in Eccles with a long lease are worth £202,000. The average or mid-range amount of ground rent is £55 invoiced annually. The lease runs out on 21st October 2082
With only 56 years left to run we estimate the premium for your lease extension to range between £29,500 and £34,000 as well as costs.
The suggested premium range above a general guide to costs for extending a lease, but we cannot give you the actual costs without more detailed investigations. Do not use this information in a Notice of Claim or as an informal offer. There are no doubt other issues that need to be considered and you obviously should be as accurate as possible in your negotiations. Please do not take any other action placing reliance on this information before seeking the advice of a professional.
We are expecting to exchange buying a house in Eccles but as a result of damage from the recent storms I have agreed recompense from the current proprietors of four thousand pounds taking the form of a deduction in the price. This was going to be dealt with as part of the conveyancing process but my lender will not permit this. Should they have been informed?
Any conveyancing practitioner being on the mortgage company approved list is obliged to advise the lender of any changes to the purchase amount. In the event that you prohibit your property lawyer to notify the reduction to your bank then they would have no choice but to discontinue acting for you and the bank.