We are planning to purchase a 2 bedroom apartment in Helsby with a mortgage. We have a Helsby conveyancer, but the mortgage company advise she’s not on their "panel". It seems we have little option but to select one of the mortgage company panel conveyancing practices or retain our Helsby conveyancing practitioner and pay for one of their panel firms to represent them. We feel that this is unjust; is there anything we can do?
Unfortunately,no. 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. Another option that might be available is for your Helsby conveyancing lawyer to apply to be on the conveyancing panel.
We were just about to exchange contracts for a semi detached house in Helsby. We have hit a stumbling block. The loan offer with Accord Mortgages Ltd expires on 6/10/2025 but the sellers are putting forward a completion date of 8/10/2025. Is it possible to prolong the mortgage offer?
The person best placed to deal with your issue is your conveyancer who will hopefully calculate whether they should be discussing with the mortgage broker, owner’s representatives, estate agents or possibly all three taking into account what has happend in your transaction to date.
I have been recommended a conveyancing solicitor in Helsby. I I would like to check whether they are on the Nottingham Building Society conveyancing panel. Can you advise?
You should e-mail the solicitor and enquire whether they can act for the lender. Alternatively please call Nottingham Building Society who may be able to help.
I have recentlyfound out that Action Conveyancing have been shut down. They carried out my conveyancing in Helsby for a purchase of a leasehold flat 9 months ago. How can I be sure that the property is not still registered in the name of the previous owner?
The easiest method to see if the property is in your name, you can make a search of the land registry (£3.00). You can either do this yourself or ask a law firm to do this for you. If you are not registered you can seek help from one of a number of Helsby conveyancing specialists.
How does conveyancing in Helsby differ for new build properties?
Most buyers of new build property in Helsby contact us having been asked by the builder to exchange contracts and commit to the purchase even before the premises is constructed. This is because house builders in Helsby typically purchase the real estate, 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 conveyancing solicitors 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 Helsby or who has acted in the same development.
I am tempted by the attractive purchase price for a two maisonettes in Helsby which have about fifty years remaining on the lease term. Do I need to be concerned?
There is no doubt about it. A leasehold apartment in Helsby is a deteriorating asset as a result of the reducing lease term. The closer the lease gets to its expiry date, the more it adversely affects the value of the premises. For most purchasers and mortgage companies, leases with less than eighty years become less and less attractive. On a more upbeat note, leaseholders can extend their leases by serving a Section 42 Notice. One stipulation is that they must have owned the premises for two years (unlike a Section 13 notice for purchasing the freehold, when leaseholders can participate from day one of ownership). When successful, they will have the right to an extension of 90 years to the current term and ground rent is effectively reduced to zero. Before moving forward with a purchase of a property with a short lease term remaining you should talk to a solicitor specialising in lease extensions and leasehold enfranchisement. We are are happy to put you in touch with Helsby conveyancing experts who will explain the options available to you during an initial telephone conversation free of charge. More often than not it is possible to negotiate informally with the freeholder to extend the lease. You may find he or she is happy to negotiate informally and willing to consider your offer straight off, without having to involve anyone else. This will save you time and money and it could help you reach a lower price on the lease. You need to ensure that the agreed terms represent good long-term value compared with the standard benefits of the Section 42 Notice and that onerous clauses are not inserted into any redrafting of the lease.
Helsby Conveyancing for Leasehold Flats - Sample of Questions you should consider Prior to Purchasing
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Does the lease contain onerous restrictions? Generally speaking the cost for major works are not included within service charges, albeit that a few managing agents in Helsby ask tenants to pay into a reserve fund and this is used to offset against major works. How much is the ground rent and service charge?