My wife and I have recently appointed a conveyancing solicitor in Liverpool. I need to find out if they are on the National Westminster Bank approved list of lawyers. Could you or the lender confirm if they are on the panel?
You should contact your lawyer and enquire whether they can act for the lender. Alternatively you should get in touch with National Westminster Bank who may be able to help.
It has been 4 months since my purchase conveyancing in Liverpool took place. I have checked the Land Registry site which shows that I paid £200,000 when infact I paid £215,000. 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 residence 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.
How does conveyancing in Liverpool differ for newly converted properties?
Most buyers of new build premises in Liverpool approach us having been asked by the builder to exchange contracts and commit to the purchase even before the residence is constructed. This is because builders in Liverpool tend to buy the site, plan the estate and want to get the plots sold off as they are building the properties. Buyers, therefore, will have to exchange contracts without actually seeing the house they are buying. To reduce the chances of losing the property, buyers should instruct conveyancing solicitors as soon as the property is reserved and mortgage applications should be submitted quickly. Due to the fact that it could be several months and even years between exchange of contracts and completion, the mortgage offer may need to be extended. It would be wise to use a lawyer who specialises in new build conveyancing especially if they are accustomed to new build conveyancing in Liverpool or who has acted in the same development.
I have been on the look out for a ground for flat up to £235,500 and found one round the corner in Liverpool I like with a park and railway links nearby, the downside is that it's only got 52 years on the lease. There is not much else in Liverpool suitable, so just wondered if I would be making a mistake purchasing a lease with such few years left?
If you require a home loan that many years may be problematic. Discount the price by the amount the lease extension will cost if it has not already been discounted. If the current proprietor has owned the property for at least twenty four months 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 existing lease and have £0 ground rent by law. You should consult your conveyancing lawyer concerning this.
We are 3 weeks into a residential purchase having been directed to conveyancers by the local agent to do our conveyancing in Liverpool. I am am very frustrated with the quality of service. Can you help me find new lawyers?
They would need to be really poor in order to consider changing them. Has the mortgage offer been issued? In the event that it has you need to advise them of the new solicitor and have the loan are issued to the new lawyers. The conveyancer should be on the mortgage company approved list to avoid added expenses and delays. So that should be your first question of the new lawyers. The search tool should assist you in finding a lender approved solicitor for your home move in Liverpool
Our solicitor in Liverpool has discovered a defect with the lease for the apartment we are purchasing in Liverpool. The seller’s lawyers have offered defective title insurance as a workaround. We are happy with insurance and will cover the costs. Our lawyer says that as he is on the mortgage company conveyancing panel he must be satisfied that the lender is happy with this solution. Who is the client here, us or the mortgage company?
Just because you have a mortgage offer from the lender does not mean to say that the property will be meet their requirements for the purposes of a mortgage. Your Liverpool conveyancing lawyer has to ensure that the lease has to comply with the UK Finance Lenders’ Handbook Requirements. You and the lender are the client. The appropriate lender requirements have to be complied with by the lender conveyancing panel who has to balance acting for you and the bank