Our lawyer has uncovered a defect with the lease for the property we are buying in Holywell. The other side have offered defective title insurance as a solution. We are happy with insurance and will cover the costs. Our solicitor says that he must check that the bank is willing to move forward with this solution. Who is the client here, us or the mortgage company ?
The short answer to your last question is that, notwithstanding the potential for a conflict of interest, you and the lender are the client. Your lawyer must comply with the UK Finance Lenders’ Handbook provisions. The UK Finance Lenders’ Handbook conditions require your lawyer to disclose issues such as defects with the lease so that the bank can be afforded the opportunity to check with their valuer as to the extent that the value of the property is affected. Should you refuse to allow your lawyer to make the appropriate notification then your solicitor will have no choice but to discontinue acting for you.
We see that you have a post code search directory listing firms on the Skipton conveyancing panel. Do firms pay you a commission if I retain them for our own conveyancing in Holywell?
We are a listing service only for law firms wishing to communicate if they are on the Skipton conveyancing panel or other lender panels. We do not charge referral fees to any conveyancer that you subsequently appoint for your conveyancing in Holywell.
I am buying a semi-detached house in Holywell. Can I do my own conveyancing?
Leaving aside the complexities and merits of DIY conveyancing in Holywell you will have to appoint a solicitor on your lender's conveyancing panel to look after their interests. Most people therefore find it easier to let the solicitor act for them and the lender. Furthermore there is minimal cost savings to be made in you doing conveyancing for yourself and another lawyer conducting the conveyancing for the lender. Please feel free to use the search tool to find a lawyer on your lender panel in Holywell.
We are selling our house in Holywell and according to the buyers it appears that there is a possibility that the property was built land that was not decontaminated. A local conveyancer would know that there is no such problem. It does beg the question why the buyers instructed a nationwide conveyancing practice rather than a conveyancing solicitor in Holywell. We have lived in Holywell for many years we know that this is a non issue. Is it a good idea to get in touch with our local Authority to get clarification that there is no issue.
It sounds as though you may have a conveyancing firm already. Are they able to advise? You must check with your lawyer before you do anything. It is very possible that once the local authority has been informed of a potential issue it cannot be insured against (a bit like being diagnosed with a serious illness and then taking out life insurance to cover that same illness)
I am looking into buying my first house which is in Holywell and I am already nervous. I couldn't find anything specific about Holywell. Conveyancing will be needed in due course but do you know about the Holywell area? or perhaps some other tips you can share?
Rather than looking online forget looking online you should go and have a look at Holywell. In the meantime here are some basic statistics that we found
There are only Seventy years remaining on my flat in Holywell. I am keen to get lease extension but my freeholder is absent. What are my options?
On the basis that you meet the appropriate requirements, 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 extended by the magistrate. However, you will be required to prove that you or your lawyers have done all that could be expected to find the freeholder. For most situations an enquiry agent should be helpful to try and locate and to produce a report to be accepted by the court as evidence that the landlord is indeed missing. It is wise to seek advice from a solicitor both on devolving into the landlord’s absence and the vesting order request to the County Court overseeing Holywell.
I own a leasehold flat in Holywell, conveyancing having been completed 4 years ago. How much will my lease extension cost? Corresponding properties in Holywell with over 90 years remaining are worth £176,000. The average or mid-range amount of ground rent is £50 invoiced every year. The lease runs out on 21st October 2106
With just 80 years left to run we estimate the price of your lease extension to be between £8,600 and £9,800 as well as professional fees.
The figure above a general guide to costs for renewing a lease, but we cannot give you the actual costs without more comprehensive 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. Neither should you move forward placing reliance on this information without first seeking the advice of a professional.