Much to our surprise we have been told by our financial adviser that my Liversedge property lawyer is not on the lender Conveyancing panel. What can I do to be certain whether this is indeed the case?
Your first step should be to contact your Liversedge conveyancer. You lawyer should notify you of the situation. If they are not on the panel they may recommend you to a Liversedge conveyancing firm that is on the approved list of lawyers for your lender.
I am being told by my lawyer that flying freehold insurance is necessary on my purchase. What is the level of cover for Liversedge conveyancing?
The right level of flying freehold indemnity insurance depends on who your lender is. It would differ for example between Barclays and Bank of Scotland. Conveyancing solicitors as opposed to members of the public take out such insurances.
When it comes to lenders such as HSBC, do Liversedge conveyancing practitioners face an annual charge to be on the list of approved solicitors?
We are unaware of any bank fees to register on their list of approved firms, although some do charge an administration charge to deal with the processing of the conveyancing panel application.
After shopping around on the internet I have found a Liversedge conveyancing practitioner having checked that they are on the Bank of Ireland conveyancing panel. Does my lawyer arrange the survey of the property?
Bank of Ireland will need an independent valuation of the property. Your lawyer will not arrange this. Usually Bank of Ireland will appoint their own surveyor to do this, and you will have to pay for it. Remember that this is a valuation for mortgage purposes and not a survey. Your solicitor will not organise the survey but they may be able to put you in touch with a local one that they recommend. RICS offers a find a surveyor service (just google it) where you can search for a qualified surveyor by your Liversedge postcode. As you are getting a mortgage with Bank of Ireland, you could contact them to see if they have a list of approved surveyors in Liversedge.
Will my lawyer be asking questions about flooding during the conveyancing in Liversedge.
The risk of flooding is if increasing concern for conveyancers dealing with homes in Liversedge. Plenty of people will purchase a property in Liversedge, completely expectant that at some time, it may be flooded. However, aside from the physical damage, if a house is at risk of flooding, it may be difficult to obtain a mortgage, suitable insurance cover, or dispose of the property. Steps can be carried out as part of the conveyancing process to forewarn the purchaser.
Solicitors are not qualified to give advice on flood risk, however there are a various checks that may be initiated by the purchaser or by their solicitors which should figure out the risks in Liversedge. The conventional set of property information forms supplied to a buyer’s conveyancer (where the solicitors are adopting what is known as the Conveyancing Protocol) incorporates a standard question of the seller to determine whether the property has historically flooded. In the event that the residence has been flooded in past which is not revealed by the vendor, then a purchaser could issue a legal claim for losses as a result of such an misleading reply. The purchaser’s solicitors will also conduct an enviro report. This should higlight whether there is a recorded flood risk. If so, further investigations will need to be conducted.
I purchased a terraced Edwardian house in Liversedge. Conveyancing solicitor represented me and Barnsley Building Society. I happened to do a free search for it on the Land Registry database and I saw two entries: one for freehold, another for leasehold under the exact same property. I thought I was buying a freehold how can I check?
You need to read the Freehold register you have again and check the Charges Register for mention of a lease. The best way to be sure that you are also the registered owner of the leasehold and freehold title as well is to check (£3). It is not completely unheard of in Liversedge and other areas of the country and poses no real issues for owners other than when they remortgage they have to account for both freehold and leasehold interests when dealing with buyers. You can also question the position with the conveyancing practitioner who conducted the purchase.
Yesterday I discovered that there is a flying freehold issue on a property I put an offer in two weeks back in what was supposed to be a simple, no chain conveyancing. Liversedge is where the house is located. Can you shed any light on this issue?
Flying freeholds in Liversedge are unusual but are more likely to exist in relation to terraced houses. Even where you use a solicitor outside Liversedge you would need to get your solicitor to go through the deeds diligently. Your bank may require your conveyancing solicitor to take out an indemnity policy. Some of the more diligent conveyancing solicitors in Liversedge may decide that this is not enough and that the deeds be re-written to give you the most up to date legal protection. If so, the next door neighbour also had to sign up to the revised deeds.It is possible that your lender will not accept the situation so the sooner you find out the better. You should also check with your insurance broker as to whether they will insure a flying freehold residence.
Our conveyancer has advised that he intends to complete and exchange simultaneously on our sale of a £400,000 garden flat in Liversedge next week. The landlords agents has quoted £420 for Landlord’s certificate, building insurance schedule and 3 years service charge statements. Is the landlord entitled to charge an administration fee for a leasehold conveyance in Liversedge?
Liversedge conveyancing on leasehold flats more often than not requires the purchaser’s conveyancer sending enquiries for the landlord to address. Although the landlord is under no legal obligation to respond to such questions most will be willing to assist. They are at liberty to invoice a reasonable administration fee for responding to questions or supplying documentation. There is no set fee. The average fee for the information that you are referring to is over three hundred pounds, in some situations it is above £800. The management information fee invoiced by the landlord must be sent together with a synopsis of rights and obligations in relation to administration fees, without which the charge is technically not due. Reality however dictates that one has no choice but to pay whatever is demanded should you wish to sell the property.
I purchased a basement flat in Liversedge, conveyancing formalities finalised March 2011. How much will my lease extension cost? Similar properties in Liversedge with over 90 years remaining are worth £171,000. The average or mid-range amount of ground rent is £50 yearly. The lease ceases on 21st October 2104
With only 79 years left to run the likely cost is going to be between £7,600 and £8,800 as well as costs.
The figure that we have given is a general guide to costs for extending a lease, but we are not able to advice on a more accurate figure in the absence of comprehensive investigations. 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 clearly you want to be as accurate as possible in your negotiations. Please do not take any other action based on this information without first getting professional advice.