My lawyer has discovered a a legal deficiency with the lease for the apartment we are purchasing in Litherland. The seller’s lawyers have suggested title insurance as a workaround. We are content with insurance and will cover the costs. Our solicitor has advised that he must be satisfied that the mortgage company is happy with this solution. Are we the client or is the bank?
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 conveyancing practitioner must comply with the UK Finance Lenders’ Handbook conditions. The UK Finance Lenders’ Handbook conditions require your lawyer to disclose issues such as defects with the lease so that the mortgage company 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 property lawyer will have no choice but to discontinue acting for you.
Finally the sale completed on my house in Litherland last February yet the purchaser is Skype messaging daily to moan that their conveyancer is waiting to hear from mine. What should my lawyer have done following completion?
Following your sale your lawyer is obliged to deliver the transfer deeds and all supplemental paperwork to the purchaser's conveyancer. If applicable, your lawyer should also confirm that the home loan has been paid off to the buyers conveyancers. There are no post completion tasks peculiar conveyancing in Litherland.
My uncle advised me that in purchasing a property in Litherland there may be various restrictions preventing external changes to the property. Is this right?
We are aware of a number of properties in Litherland which have some sort of restriction or requirement of consent to external variations. Part of the conveyancing in Litherland should determine what restrictions are applicable and advising you as part of a ROT that should be sent to you.
Are all Litherland Conveyancing Quality Solicitors on the Barclays conveyancing panel?
Some major banks and building societies now make use of the accreditation scheme as the kick off point for Panel approval such as HSBC and Santander. CQS accreditation however is no guarantee to lender panel acceptance. That being said,the CML have indicated that it is likely to become a pre-requisite for solicitors wishing to join their approved list of firms.
My fiancee and I are in the process of looking at houses in Litherland and I am now considering a potential offer. Is it too early to have a solicitor in place? I intend to finance via a mortgage with Virgin Money.
It would be prudent to commence your search sooner rather than later. After you have chosen your lawyer and once your offer is accepted you can instruct them to work for you and forward their details on to the EA. As you are getting a mortgage with Virgin Money, ask your prospective lawyers if they are on the Virgin Money conveyancing panel otherwise they can't do the mortgage legal work.
I have todaybecome aware that Action Conveyancing have closed. They carried out my conveyancing in Litherland for a purchase of a leasehold apartment 9 months ago. How can I check that my home is not still registered in the name of the previous owner?
The quickest way to see if the property is in your name, you can carry out 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 Litherland conveyancing specialists.
I'm converting the mortgage on my primary property to a BTL loan with Nationwide Building Society and I will use the ballance of the raised equity as a down payment on another house. The location we are interested in is Litherland. Will your lawyers be able to act for the two mortgage companies and link together the transactions?
Make use of our search tool on this page to check that the conveyancers are approved by both lenders. Assuming that they are the lawyer will be able to simultaneously deal with the two conveyancing matters but you should talk with you conveyancer and communicate your desired outcome and needs.
There are only Fifty years left on my flat in Litherland. I am keen to get lease extension but my landlord is absent. What should I do?
On the basis that you qualify, under the Leasehold Reform, Housing and Urban Development Act 1993 you can submit an application to the County Court for an order to dispense with the service of the initial notice. This will enable the lease to be lengthened by the Court. You will be obliged to demonstrate that you or your lawyers have done all that could be expected to track down the freeholder. On the whole an enquiry agent may be helpful to carry out a search and to produce a report which can be accepted by the court as proof that the freeholder is indeed missing. It is advisable to get professional help from a solicitor both on devolving into the landlord’s absence and the application to the County Court covering Litherland.
I bought a 1st floor flat in Litherland, conveyancing formalities finalised 6 years ago. Can you please calculate a probable premium for a statutory lease extension? Equivalent flats in Litherland with an extended lease are worth £197,000. The average or mid-range amount of ground rent is £55 charged once a year. The lease terminates on 21st October 2080
You have 55 years unexpired we estimate the premium for your lease extension to range between £31,400 and £36,200 as well as professional fees.
The suggested premium range above a general guide to costs for renewing a lease, but we are not able to advice on the actual costs in the absence of detailed investigations. Do not use this information in tribunal or court proceedings. There are no doubt additional issues that need to be considered and clearly you want to be as accurate as possible in your negotiations. Please do not move forward placing reliance on this information without first getting professional advice.