Am I correct in assuming that the fact that my solicitor in Great Sankey is not identified on my bank's solicitor panel that there is a problem with the standard of the firm’s work?
It would not be wise to jump to that conclusion. There are plenty of reasonable explanations. A recent report by the solicitors regulator revealed that over three quarters 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 Great Sankey conveyancing firm and ask them why they are no longer on the approved list for your mortgage company.
What will a local search tell me concerning the house I am purchasing in Great Sankey?
Great Sankey conveyancing often starts with the applying for local authority searches directly from your local Authority or through a personal search company for instance Onsearch The local search is essential in every Great Sankey conveyancing purchase; that is if you wish to avoid any nasty once you have moved into your property. The search will supply information on, amongst other things, details on planning applications applicable to the premises (whether granted or refused), building control history, any enforcement action, restrictions on permitted development, nearby road schemes, contaminated land and radon gas; in all a total of thirteen topic headings.
My wife and I have a semi-detached Victorian property in Great Sankey. Conveyancing practitioner acted for me and The Royal Bank of Scotland. I did a free Land Registry search last week and there are a couple of entries: the first freehold, another for leasehold with the matching address. I thought I was buying a freehold how can I check?
You need to review the Freehold register you have again and check the Charges Register for mention of a lease. The best way to be sure that you are also the registered owner of the leasehold and freehold title as well is to check (£3). It is not completely unheard of in Great Sankey and other areas of the country and poses no real issues for owners other than when they buy they have to account for both freehold and leasehold interests when dealing with lenders. You can also question the situation with your conveyancing practitioner who conducted the work.
Yesterday I discovered that there is a flying freehold issue on a property I put an offer in last month in what was supposed to be a quick, chain free conveyancing. Great Sankey is the location of the property. Can you shed any light on this issue?
Flying freeholds in Great Sankey are not the norm but are more likely to exist in relation to terraced houses. Even where you use a solicitor outside Great Sankey you would need to get your solicitor to go through the deeds very carefully. Your bank may require your conveyancing solicitor to take out an indemnity policy. Some of the more diligent conveyancing solicitors in Great Sankey may determine 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.
My cousin has recommend that I use his conveyancing solicitors in Great Sankey. Do I follow his advice?
There are no two ways about it the ideal way to select a conveyancing practitioner is to have recommendations from friends or relatives who have used the solicitor you're are thinking of instructing.
What are the common defects that you encounter in leases for Great Sankey properties?
Leasehold conveyancing in Great Sankey is not unique. All leases are individual and legal mistakes in the legal wording can sometimes mean that certain sections are erroneous. The following missing provisions could result in a defective lease:
-
Service charge per centages that don't add up correctly leaving a shortfall A provision to repair to or maintain elements of the premises
You will encounter difficulties when selling your property if you have a defective lease as they can affect a potential buyer’s ability to obtain a mortgage. Santander, Leeds Building Society, and Godiva Mortgages Ltd all have express conveyancing instructions when it comes to what is expected in a lease. Where a lender has been advised by their lawyers that the lease does not cover certain provisions they may refuse to grant the mortgage, forcing the buyer to pull out.
I bought a 1st floor flat in Great Sankey, conveyancing was carried out half a dozen years ago. Can you let me have an estimated range of the fair premium for a lease extension? Comparable flats in Great Sankey with over 90 years remaining are worth £207,000. The ground rent is £60 invoiced every year. The lease terminates on 21st October 2081
With 57 years unexpired the likely cost is going to range between £28,500 and £33,000 as well as plus your own and the landlord's "reasonable" professional fees.
The suggested premium range above a general guide to costs for extending a lease, but we are not able to supply a more accurate figure without more detailed due diligence. Do not use this information in tribunal or court proceedings. There may be additional concerns that need to be taken into account and clearly you should be as accurate as possible in your negotiations. Neither should you move forward placing reliance on this information without first seeking the advice of a professional.