My husband and I are buying a 1 bedroom flat in Formby with a mortgage. We have a Formby solicitor, but the mortgage company says he's not on their "panel". It appears that we have little option but to instruct one of the lender panel conveyancing practices or retain our Formby conveyancer and pay for one of their panel ones to act for them. We regard this is unjust; is there anything we can do?
No, not really. The mortgage offered to you is subject to its terms and conditions, one of which will be that lawyers will on the lender’s conveyancing panel. Until recently, most lenders had large numbers of law firms on their panels: a borrower could choose one for themselves, as long as it was on the lender's panel. The lender would then simply instruct the borrower's lawyers to act for the lender, too. You can use your lender's panel lawyers or you could borrow from another lender which does not restrict your choice. A further alternative is for your Formby conveyancing solicitor to apply to be on the conveyancing panel.
We are buying a house in Formby. It might be a silly question but how we can trust a solicitor? On completion day we have to put our life savings into their account. What protection do we have from them run away with our deposit?
Be assured that all money in a Solicitors client account is 100% safe, and even if your Solicitor ran off with it, the Law Society would reimburse you fully.
What is the difference between a licensed conveyancer and conveyancing solicitor in Formby
Two types of professional can conduct conveyancing in Formby namely CLC regulated conveyancers or solicitors. The two can administer conveyancing services that you need to complete the sale or acquisition of property. They are both duty bound to perform Formby conveyancing to the same quality and guidelines so you can be sure that your conveyancing will be properly administered and that the requirements and steps will be correctly followed.
Have just purchased a repossessed house at auction in Formby. Conveyancing is necessary. What are my next steps?
Having to in every practical sense signed on the dotted line you now have to instruct a conveyancing lawyer quickly as you are faced with a pending a fixed date to complete the property. An auction property will have an associated legal set of papers. This should include evidence of title and search results. In the case of leasehold premises the conveyancing pack may provide a copy of the lease, management information and a sellers leasehold information form and associated conveyancing paperwork pertinent to a leasehold property. You should pass this on to the solicitor instructed by you ASAP. You also need to ensure that you have funds in order to complete on the on the contractual date .
I've recently found out that there is a flying freehold issue on a property I have offered on last month in what was supposed to be a quick, no chain conveyancing. Formby is the location of the property. Can you offer any advice?
Flying freeholds in Formby are unusual but are more likely to exist in relation to terraced houses. Even where you use a solicitor outside Formby you must be sure that your lawyer goes through the deeds thoroughly. Your bank may require your conveyancing solicitor to take out an indemnity policy. Some of the more diligent conveyancing solicitors in Formby may decide that this is not enough and that the deeds be re-written to give you the most up to date legal protection. If so, the next door neighbour also had to sign up to the revised deeds.It is possible that your lender will not accept the situation so the sooner you find out the better. You should also check with your insurance broker as to whether they will insure a flying freehold premises.
I have been pointed in your direction by a few property agents in Formby to find a solicitor using your seach tool. What’s the financial incentive for Estate Agents to market your site rather than another?
We refuse to give any financial incentive for directing people to this site. We found it would be just too difficult to pay a commission because home movers will think, ‘How come the agent getting a kickback? Why am I not receiving any benefit too?’ We would prefer to grow our business on genuine recommendations.
I need to appoint a conveyancing solicitor for purchase conveyancing in Formby. I have chance upon a web site which seems to have the ideal solution If it is possible to get all this stuff completed via phone that would be preferable. Do I need to be wary? What are the potential pitfalls?
As usual with these online conveyancers you need to read ALL the small print - did you notice the extra charge for dealing with the mortgage?
Having checked my lease I have discovered that there are only Fifty years unexpired on my flat in Formby. I am keen to get lease extension but my freeholder is absent. What are my options?
If you qualify, under the Leasehold Reform, Housing and Urban Development Act 1993 you can submit an application 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. You will be obliged to demonstrate that you have used your best endeavours to find the freeholder. In some cases an enquiry agent should be useful to try and locate and prepare an expert document which can be accepted by the court as evidence that the landlord is indeed missing. It is advisable to get professional help from a conveyancer in relation to investigating the landlord’s absence and the vesting order request to the County Court overseeing Formby.
I invested in buying a leasehold flat in Formby, conveyancing having been completed 3 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? Equivalent flats in Formby with a long lease are worth £180,000. The average or mid-range amount of ground rent is £65 yearly. The lease runs out on 21st October 2084
With 59 years remaining on your lease we estimate the price of your lease extension to span between £20,900 and £24,200 plus legals.
The suggested premium range that we have given is a general guide to costs for extending a lease, but we cannot give you the actual costs in the absence of detailed investigations. Do not use the figures in a Notice of Claim or as an informal offer. There are no doubt additional issues that need to be considered and you obviously want to be as accurate as possible in your negotiations. You should not take any other action based on this information without first seeking the advice of a professional.