My wife and I are looking to buy a home in Greasby and are in fact using a Greasby conveyancing practice. Within the past 48 hours our property lawyer has sent a preliminary report and documents to look through with a view to exchanging next week. Virgin Money have this morning contacted us to inform me that there is now an issue as our Greasby conveyancer is not on their approved list of lawyers. What do we do from here?
Where you are buying a property requiring a mortgage it is conventional for the purchasers' lawyers to also represent the purchaser's lender. In order to act for a bank or building society a law firm has to be on that lender's conveyancing panel. An application has to be made by the law firm to the lender to become a member of the lender's panel and there are increasingly strict criteria which the firm has to satisfy and indeed some lenders now require their panel members to be part of the Law Society’s Conveyancing Accreditation Scheme. Your property lawyer should contact your bank and see if they can apply for membership of their conveyancing panel, but if that is not viable they will instruct their own lawyers to represent them. You are not legally obliged to appoint a law firm on the bank's conveyancing panel as you are at liberty to use your preferred Greasby lawyers, in which case your legal fees may increase, and it may delay matters as you are adding another lawyer into the mix.
I have been told that property searches are a common cause of stalling in Greasby conveyancing transactions. Is this right?
The Council of Property Search Organisations (CoPSO) released findings of research by MoveWithUs that conveyancing searches do not feature within the most frequent causes of hindrances in the conveyancing process. Local searches are not likely to feature in any delay in conveyancing in Greasby.
I purchased my house on 8 May and my personal details is yet to be on the land registry website. Any reason for this? My conveyancing solicitor in Greasby said it will be concluded inside ten days. Are transfers in Greasby particularly slow to register?
There is nothing unique about conveyancing in Greasby registration formalities. As opposed to being determined by geographic area, timeframes can adjust subject to who lodges the application, whether it is in order and whether the Land registry communicate with any 3rd parties. As of today in the region of 80% of submission are completed within two weeks but occasionally there can be protracted hold-ups. Historically registration is effected once the purchaser has moved in to the premises thus an expedited registration is not always primary concern yet if there is a degree of urgency associated with the registration then you or your conveyancer could contact the land registry and explain the circumstances.
I am buying a new build flat in Greasby. Conveyancing is necessary evil at the best of times but I have never purchased a new build flat before. What sort of enquires would be asked in new build conveyancing.
Set out below are examples of a selection of leasehold new build questions that you should expect your new-build leasehold conveyancing in Greasby
-
Investor purchasers must be able to freely grant unsecured tenancies at market rents without requiring any consents. Has the Lease plan been approved by the Land Registry and if not when will they be lodged for this purpose? Please supply a car parking plan. Forfeiture - bankruptcy or liquidation must not apply under this provision. Please confirm the Lease plans are surveyor prepared.
How can the Landlord & Tenant Act 1954 impact my business offices in Greasby and how can your lawyers assist?
The 1954 Act affords security of tenure to commercial lessees, giving them the a statutory right to apply to court for a renewal lease and continue in occupation at the end of the lease term. There are limited grounds where a landlord can refrain from granting a lease renewal and the rules are complex. Fees are different for commercial conveyancing. Greasby is one of the numerous areas of the UK in which our lawyers are located
I have recently realised that I have Sixty One years unexpired on my lease in Greasby. I now want to get lease extension but my freeholder is missing. What should I do?
If you qualify, under the Leasehold Reform, Housing and Urban Development Act 1993 you can apply to the County Court for an order to dispense with the service of the initial notice. This will enable the lease to be granted an extra 90 years by the Court. However, you will be required to prove that you have used your best endeavours to locate the lessor. In some cases an enquiry agent would be helpful to conduct investigations and prepare an expert document to be accepted by the court as proof that the landlord can not be located. It is advisable to get professional help from a property lawyer both on investigating the landlord’s absence and the vesting order request to the County Court covering Greasby.
Greasby Conveyancing for Leasehold Flats - A selection of Queries before Purchasing
-
Plenty Greasby leasehold flats will have a service bill for maintenance of the building invoiced on behalf of the freeholder. Where you acquire the property you will have to pay this amount, normally periodically throughout the year. This can vary from a few hundred pounds to thousands of pounds for bigger purpose-built buildings. In all probability there will be a ground rent for you to pay annual, this is usually not a large sum, say about £25-£75 but you need to check as sometimes it can be surprisingly expensive. How is the lease structured?