Much to our surprise we have been notified by our lender that my Harwich property lawyer is not on the mortgage company Solicitor panel. What can I do to be sure if this is correct?
You need to call your Harwich lawyer directly. You lawyer should inform you what has happened. If they are not on the panel they may be able to suggest a Harwich conveyancing firm that is on the conveyancing panel for your lender.
we are a couple who wish to acquire a 1 bedroom apartment in Harwich with a residential mortgage from Halifax.We have a Harwich conveyancing lawyer but Halifax advised that he's not listed on their "panel". We have to appoint a Halifax panel solicitor or keep our high street solicitor and pay for a Halifax panel lawyer to represent them. This seems very unfair; Can we not simply insist that Halifax use our lawyer?
Unfortunately,no. The loan issued to you is subject to its various provisions, a common one being that conveyancers needs to be on the Halifax approved list. in the past, 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. Another option that might be available is for your solicitors to apply to be on the conveyancing panel for Halifax
I've recently found out that there is a flying freehold element on a house I have offered on last month in what was supposed to be a simple, chain free conveyancing. Harwich is the location of the property. Is there any guidance you can give?
Flying freeholds in Harwich are not the norm but are more likely to exist in relation to terraced houses. Even where you use a solicitor outside Harwich you must be sure that your lawyer goes through the deeds thoroughly. Your lender may require your conveyancing solicitor to take out an indemnity policy. Some of the more diligent conveyancing solicitors in Harwich 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 residence.
Is it simple use the search tool to get a quote from a conveyancing lawyer in Harwich on the authorised to act for my mortgage?
First choose a mortgage company such as National Westminster Bank, Coventry Building Society or Clydesdale then specify your preferred area a common one being Harwich. Conveyancing organisations in Harwich and nationally will then be listed.
I am a negotiator for a long established estate agency in Harwich where we have witnessed a number of leasehold sales derailed as a result of short leases. I have been given inconsistent advice from local Harwich conveyancing solicitors. Can you clarify whether the owner of a flat can start the lease extension process for the purchaser on completion of the sale?
Provided that the seller has been the owner for at least 2 years it is possible, to serve a Section 42 notice to start the lease extension process and assign the benefit of the notice to the purchaser. The benefit of this is that the proposed purchaser can avoid having to sit tight for 2 years to extend their lease. Both sets of lawyers will agree to form of assignment. The assignment has to be done before, or at the same time as completion of the disposal of the property.
Alternatively, it may be possible to agree the lease extension with the freeholder either before or after the sale. If you are informally negotiating there are no rules and so you cannot insist on the landlord agreeing to grant an extension or transferring the benefit of an agreement to the buyer.
I bought a 1st floor flat in Harwich, conveyancing having been completed September 2010. Can you let me have an estimated range of the fair premium for a lease extension? Corresponding properties in Harwich with an extended lease are worth £190,000. The ground rent is £45 invoiced every year. The lease runs out on 21st October 2087
With just 62 years remaining on your lease we estimate the price of your lease extension to range between £17,100 and £19,800 plus costs.
The figure above a general guide to costs for renewing a lease, but we are not able to supply a more accurate figure in the absence of comprehensive due diligence. You should not use the figures in tribunal or court proceedings. There may be other concerns that need to be considered and clearly you want to be as accurate as possible in your negotiations. Neither should you take any other action placing reliance on this information without first getting professional advice.
I see that you have a search directory identifying firms on the lender conveyancing panel. Do Harwich conveyancing firms pay you a referral fee if I instruct them for my house purchase?
We are a listing service only for law firms wishing to communicate if they are on the lender conveyancing panel or other lender panels. We do not charge referral fees to the any conveyancer that you subsequently appoint for your conveyancing in Harwich.