I am selling my apartment in Liverpool and the estate agent has just called to warn that the buyers are appointing a new property lawyer. The excuse is that the mortgage company will only work with property lawyers on their conveyancing panel. On what basis would a leading mortgage company only engage with certain law firms rather the firm that they want to appoint for their conveyancing in Liverpool ?
UK lenders have always had panels of law firms that can represent them, but in the last few years big names such as Santander, have reviewed and reduced their conveyancing panel– in some cases removing conveyancing firms who have worked with them for many years.
Mortgage companies point to the increase in fraud as the reason for the reduction – criteria have been stiffened as a smaller panel is easier to maintain. No lender will say how many solicitors have been dropped, claiming the information is commercially sensitive, but the Law Society claims that it is being contacted daily by practices that have been removed from panels. Some do not even realise they have been dropped until contacted by a borrower who has instructed them as might be the situation in your buyers' case. Your buyers are unlikely to have any sway in the decision.
We are about to complete on the purchase of a house in Liverpool but as a consequence of damage from some water damage at the property I have managed to agree recompense from the vendor in the sum of £3k in the form of a reduction in the price. I had intended this to be addressed as part of a side agreement however UBS are not allowing this. Should they have been informed?
Your property lawyer that is on the UBS conveyancing panel is obliged to inform UBS of any changes to the purchase price. If you were to refuse your property lawyer to report the reduction to UBS then they would have to discontinue acting for you. In addition, UBS and you would have to appoint a new conveyancer for your conveyancing in Liverpool.
Will commercial conveyancing searches reveal proposed roadworks that may affect a commercial land in Liverpool?
Its becoming the norm that commercial conveyancing solicitors in Liverpool will execute a SiteSolutions Highways report as it reduces the time that conveyancers invest in sourcing accurate data on highways that impact buildings and development assets in Liverpool. The report sets out definitive information on the adoption status of roads, footpaths and verges, as well as the implication of traffic schemes and the rights of way surrounding a commercial development sites in Liverpool.
For every commercial conveyancing transaction in Liverpool it is critical to investigate the adoption status of roads surrounding a site. Failure to identify developments where adoption procedures have not been addressed adequately can result in delays to Liverpool commercial conveyancing deals as well as present a risk to future intentions for the site. These searches are not conducted for residential conveyancing in Liverpool.
In my capacity as executor for the will of my uncle I am selling a property in Monmouth but I am based in Liverpool. My lawyer (approximately 260 miles awayhas requested that I sign a stat dec ahead of the transaction finalising. Could you suggest a conveyancing solicitor in Liverpool who can witness this legal document for me?
Technically speaking you should not need to have the documents attested by a conveyancing solicitor. Ordinarily or notary public or solicitor will do regardless of whether they are Liverpool based
Looking forward to sign contracts shortly on a garden flat in Liverpool. Conveyancing solicitors have said that they are sending me a report tomorrow. What should I be looking out for?
Your report on title for your leasehold conveyancing in Liverpool should include some of the following:
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Repair and maintenance of the property The length of the lease term. You should receive guidance as what happens when the lease expires, and aware of the importance of not letting the lease term falling below eighty years What remedies are open the freeholder should you are in breach of your lease terms? What options are open to you if a neighbour is in violation of a provision in their lease? Alterations to the property
I acquired a leasehold flat in Liverpool, conveyancing was carried out May 1995. Can you give me give me an indication of the likely cost of a lease extension? Corresponding flats in Liverpool with a long lease are worth £197,000. The ground rent is £55 invoiced every year. The lease comes to an end on 21st October 2080
You have 55 years left to run we estimate the premium for your lease extension to span between £31,400 and £36,200 plus costs.
The suggested premium range above a general guide to costs for extending a lease, but we cannot give you the actual costs in the absence of comprehensive due diligence. Do not use the figures in a Notice of Claim or as an informal offer. There may be other concerns that need to be taken into account 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.
I see that you have a post code search directory identifying solicitors on the lender conveyancing panel. Do Liverpool conveyancing companies pay you a referral fee if I instruct them for my conveyancing?
We are a listing service only for law firms wishing to communicate if they are on the mortgage company conveyancing panel or other lender panels. We do not charge referral fees to the any conveyancer that you subsequently appoint for your conveyancing in Liverpool.