All was ready to complete my purchase in Eccleston and St Helens next Monday. My property lawyer now wants me to supply her with proof of content and building insurance for the property as he says that he has to check this in his capacity as lawyer for the bank. What risks does the bank expect the insurance to cover?
All property lawyers on acting for lenders would need to check that the following risks are covered fire; lightning; aircraft; explosion; earthquake; storm; flood; escape of water or oil; riot; malicious damage; theft or attempted theft; falling trees and branches and aerials; subsidence; heave;landslip;collision;accidental damage to underground services;professional fees, demolition and site clearance costs; and public liability to anyone else. There are some other issues such as the level of excess that are set out in a lender’s UK Finance Lenders’ Handbook requirements. These obligations are not specific to conveyancing in Eccleston and St Helens.
Please explain the implications if my lawyer’s firm is suspended from the Co-operative Conveyancing panel ahead of completing my conveyancing in Eccleston and St Helens?
First, this is very unlikely to happen. In most cases even where a law firm is removed off of a panel the lender would allow the completion to go ahead as the lender would appreciate the difficulties that they would place you in if you have to instruct a new solicitor days before completion. In a worst case scenario where the lender insists that you instruct a new firm then it is possible for a very good lawyer to expedite the conveyancing albeit that you may pay a significant premium for this. The analogous situation is where a buyer instructs a lawyer, exchanges contracts and the law firm is shut down by a regulator such as the SRA. Again, in this situation you can find lawyers who can troubleshoot their way to bring the conveyancing to a satisfactory conclusion - albeit at a cost.
I used Arc property Solicitors a few years ago for my conveyancing in Eccleston and St Helens. I now require my file however the law firm has closed. What do I do?
You should call the Solicitors Regulatory Authority (SRA) to help locate your conveyancing files. They can be contacted on please contact on 0870 606 2555. Alternatively, you should use their online form to make an enquiry. You will need to provide the SRA with as much information as possible to assist their search, including the name and address in Eccleston and St Helens of the conveyancing firm of solicitors you previously hired, the name of conveyancing solicitor with whom you had dealings, and the date on which you last had dealings with the firm.
How does conveyancing in Eccleston and St Helens differ for new build properties?
Most buyers of new build property in Eccleston and St Helens approach us having been asked by the seller to sign contracts and commit to the purchase even before the premises is built. This is because developers in Eccleston and St Helens tend to purchase the land, plan the estate and want to get the plots sold off as they are building the properties. Buyers, therefore, will have to exchange contracts without actually seeing the house they are buying. To reduce the chances of losing the property, buyers should instruct property lawyers as soon as the property is reserved and mortgage applications should be submitted quickly. Due to the fact that it could be several months and even years between exchange of contracts and completion, the mortgage offer may need to be extended. It would be wise to use a lawyer who specialises in new build conveyancing especially if they are used to new build conveyancing in Eccleston and St Helens or who has acted in the same development.
Having had my offer accepted I require leasehold conveyancing in Eccleston and St Helens. Before diving in I require certainty as to the number of years remaining on the lease.
If the lease is recorded at the land registry - and most are in Eccleston and St Helens - then the leasehold title will always include the short particulars of the lease, namely the date; the term; and the original parties. From a conveyancing perspective such details then enable any prospective buyer and lender to confirm that any lease they are looking at is the one relevant to that title. For any other purpose, such as confirming how long the term was granted for and calculating what is left, then the register should be sufficient on it's own.
I bought a 2 bed flat in Eccleston and St Helens, conveyancing was carried out August 2000. 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? Comparable properties in Eccleston and St Helens with a long lease are worth £185,000. The ground rent is £65 invoiced annually. The lease runs out on 21st October 2086
You have 61 years remaining on your lease we estimate the price of your lease extension to range between £18,100 and £20,800 plus legals.
The figure above a general guide to costs for extending a lease, but we are not able to supply the actual costs in the absence of comprehensive investigations. You should not use this information in a Notice of Claim or as an informal offer. There may be other issues that need to be considered and you obviously want to be as accurate as possible in your negotiations. Please do not take any other action based on this information without first getting professional advice.
I purchased a property in Eccleston and St Helens last 6/3/2024 and to date it is still not registered with HM Land Registry. It was part of a development site and my property lawyer told me that it may take twelve months to complete the registration formalities. I have called HM Land Registry directly and they say that the initial application was cancelled due to failure to reply to requisitions. Should I be concerned?
It is your conveyancing practitioner that you really need to contact in order to satisfy any issues which have been raised as part of the registration process for your Eccleston and St Helens property. Normal Eccleston and St Helens conveyancing practice includes an undertaking on the part of the previous owner’s conveyancer that they will help resolve any registration raised by HMLR so it may be a case of taking action to enforce that undertaking if necessary.