Is the fact that my solicitor in Lancaster is not identified on my mortgage company's conveyancing panel that there is a problem with the quality of her work?
It would be unwise to jump to that conclusion. There are all sorts of perfectly reasonable explanations. A recent report by the solicitors regulator indicated 76% of law firms surveyed had been removed from at least one lender panel. The top 5 reasons are as follows: (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. Where you are concerned you should contact the Lancaster conveyancing practice and ask them why they are no longer on the approved list for your bank.
My wife and I are refinancing our flat in Lancaster with Lloyds. We have a son 18 who lives at home. Our solicitor has asked us to disclose anyone over the age of 17 other than ourselves who reside at the property. The solicitor has now sent a form for our son to sign, giving up any rights in the event that the flat is forfeited by the lender. I have a couple of concerns (1) Is this form unique to the Lloyds conveyancing panel as he never had to sign this form when we purchased 5 years ago (2) Does our son by signing this compromise his rights to inherit the property?
First, rest assured that your Lloyds conveyancing panel solicitor is doing the right thing as it is established procedure for any occupier who is aged 17 or over to sign the necessary Consent Form, which is purely to state that any rights he has in the property are postponed and secondary to Lloyds. This is solely used to protect Lloyds if the property were re-possessed so that in such circumstances, your son would be legally obliged to leave. It does not impact your son’s right to inherit the apartment. Please note that if your son were to inherit and the mortgage in favour of Lloyds had not been discharged, he would be liable to take over the loan or pay it off, but other than that, there is nothing stopping him from keeping the property in accordance with your will or the rules of intestacy.
Can your site be used to find a Conveyancing solicitor in Lancaster even where I’m not purchasing or disposing of a house, for example if I want to acquire an office in Lancaster with a mortgage from Coventry Building Society?
Our comparison service is predominantly used to find domestic conveyancing solicitors in Lancaster but we have set out at the bottom of this page a few Lancaster commercial conveyancing firms. You will need to make contact with the solicitors directly to check if they are also authorised to represent Coventry Building Society
I am assisting my sister sell her flat in Lancaster. Will the solicitor arrange an energy assessment or should I organise this?
After the demise of Home Packs, energy assessments was left as a compulsory part of selling a property. An EPC must be commissioned in advance of the property being marketed. This is not as aspect of the sale process that law firms ordinarily arrange. Where you are using a Lancaster conveyancing practitioner they might help arrange energy performance certificates due to their relationships with long established local energy assessors
I am the only beneficiary of my late grandmother’s estate with all property in now in my sole name, including the my former home in Lancaster. Conveyancing formalities meant that the Land Registry date was in August. I plan to dispose of the property. I understand that there is a Mortgage Lenders 6 month 'rule', which means that my property ownership may be considered the same way as if I'd bought the property in August. Will no one buy the property for half a year?
The Council of Mortgage Lenders’ handbook obliges conveyancers to: "report to us immediately if the owner or registered proprietor has been registered for less than six months." Technically you could be impacted by that. Most banks would take a practical view as this provision primarily exists to pick up on the purchase and immediately sell or the quick reselling of properties.
I have decided to exercise my right to buy my property in Lancaster off the council. I have a mortgage agreed with Virgin Money. Conveyancing is not something I have any knowledge of. Can I proceed without a solicitor easily? I think we can but we keep being told I should use one. Any advice?
It is not advisable to proceed with a house purchase without a solicitor. The council's solicitor are not acting for you. You need a solicitor for a number reasons. One of which is to verify what plans the Council have for repairs and refurbishment for the next five years. Many leaseholders have been stung for contributions of thousands of pounds. In any event, if you are getting a mortgage with Virgin Money, you will need to appoint a solicitor on the Virgin Money conveyancing panel.
I'm purchasing my first flat in Lancaster with the aid of help to buy. The sellers would not reduce the price so I negotiated five thousand pounds worth of fixtures and fittings instead. The sale representative suggested that I not disclose to my conveyancer about the side-deal as it will affect my mortgage with Britannia. Is this normal?.
All lenders require a Disclosure of Incentives Form from the developer 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.
Are there common problems that you come across in leases for Lancaster properties?
There is nothing unique about leasehold conveyancing in Lancaster. All leases are individual and legal mistakes in the legal wording can result in certain sections are erroneous. The following missing provisions could result in a defective lease:
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Clauses dealing with recovering service charges for expenditure on the building or common parts.
A defective lease will likely cause issues when trying to sell a property primarily because it impacts on the ability to obtain a mortgage on the property. Lloyds TSB Bank, Bank of Scotland, and Britannia all have very detailed requirements 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, obliging the purchaser to pull out.
I purchased a garden flat in Lancaster, conveyancing having been completed half a dozen years ago. Can you shed any light on how much the price could be for a 90 year extension to my lease? Corresponding properties in Lancaster with over 90 years remaining are worth £170,000. The ground rent is £50 levied per year. The lease terminates on 21st October 2103
With 78 years left to run the likely cost is going to range between £7,600 and £8,800 as well as legals.
The figure above a general guide to costs for extending a lease, but we cannot give you a more accurate figure without more comprehensive investigations. You should not use the figures in tribunal or court proceedings. There may be additional concerns that need to be considered and you obviously should be as accurate as possible in your negotiations. Neither should you take any other action based on this information without first seeking the advice of a professional.