It has come to my attention via my lender that my Holywell the law firm I have appointed is not on the mortgage company Conveyancing panel. What can I do to check?
Your first step should be to contact your Holywell lawyer directly. It is reasonable to expect your lawyer to inform you of the situation. Where they are not on the panel they could put your in touch with solicitors on the conveyancing panel for your mortgage company.
It has been three months since my purchase conveyancing in Holywell took place. I have checked the Land Registry website which shows that I paid £150,000 when infact I paid £180,000. Why the discrepancy?
The price paid figure is taken from the application to register the purchase. It is the figure included in the Transfer (the legal deed which transfers the asset from one person to the other) and referred to as the 'consideration' or purchase price. You can report an error in the price paid figure using the LR online form. In most cases errors result from typos so at first glance the figure. Do report it so they can double check and advise.
I'm buying a new build house in Holywell with a mortgage from Santander. The builders would not move on the amount so I negotiated 6k of extras instead. The estate agent told me not disclose to my conveyancer about the side-deal as it could affect my mortgage with the lender. Do I keep my lawyer in the dark?.
All lenders require a Disclosure of Incentives Form from the builder of any new build, converted or renovated property, It is available online from the Lenders’ Handbook page on the CML website. CML form is completed and handed to the lender's surveyor when the inspection is done.
Lenders have different policies on incentives. Some accept none at all, cash or physical, while others will accept cash incentives up to 5%.
Hard to understand why the representative of a builder would be suggesting you withold information from a solicitor when all this will be clearly visible on forms the builder has to supply to its solicitor, the buyer's solicitor and the surveyor.
I have been on the look out for a leasehold apartment up to £235,500 and identified one close by in Holywell I like with amenity areas and railway links nearby, the downside is that it only has 49 years on the lease. There is not much else in Holywell suitable, so just wondered if I would be making a grave error buying a lease with such few years left?
If you need a home loan the shortness of the lease will be an issue. Reduce the price by the amount the lease extension will cost if not already taken into account. If the existing proprietor has owned the property for at least 2 years you could ask them to start the process of the extension and then assign it to you. An additional ninety years can be extended on to the current lease and have £0 ground rent by law. You should consult your conveyancing lawyer concerning this matter.
Is it possible to change firm as I have to instruct a firm on the Lloyds TSB Bank conveyancing list. I instructed a high street conveyancing solicitor in Holywell round the corner but the firm is not accepted by Lloyds TSB Bank
It would be our pleasure to help you find a conveyancing solicitor in Holywell on the Lloyds TSB Bank panel. Please note that the property lawyers that we on the directory do not pay us fee if you instruct them and are registered with the SRA who regulate all conveyancing solicitors in Holywell. In utilising search facility on this website, you can compare fees for conveyancing solicitors in Holywell and beyond.
Last July I purchased a leasehold property in Holywell. Do I have any liability for service charges relating to a period prior to completion of my purchase?
Where the service charge has already been demanded from the previous lessee and they have not paid you would not usually be personally liable for the arrears. However, your landlord may still be able to take action to forfeit the lease. A critical element of leasehold conveyancing for your conveyancer to be sure to have an up to date clear service charge receipt before completion of your purchase. If you have a mortgage this is likely to be a requirement of your lender.
If you purchase part way through an accounting year you may be liable for charges not yet demanded even if they relate to a period prior to your purchase. In such circumstances your conveyancer would normally arrange for the seller to set aside some money to cover their part of the period (usually called a service charge retention).
Holywell Leasehold Conveyancing - A selection of Questions you should consider Prior to buying
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Plenty Holywell leasehold flats will incur a service bill for maintenance of the block set by the landlord. Where you purchase the property you will have to meet this charge, usually in instalments during the year. This can be anything from a couple of hundred pounds to thousands of pounds for large purpose-built buildings. In all probability there will be a rentcharge for you to pay yearly, ordinarily this is not a exorbitant sum, say about £50-£100 but you should to enquire it because occasionally it can be many hundreds of pounds. How many of the leaseholders are in arrears for their maintenance charge payments? Is anyone aware of any major works in the planning that could add a premium to the service charges?