My Solicitor in Maghull is not on the Godiva Mortgages Ltd Solicitor Panel. Is it possible for me to continue with my family solicitor notwithstanding that they are not on the Godiva Mortgages Ltd panel?
The limited options open to you here include:
- Complete the purchase with your preferred Maghull solicitors but Godiva Mortgages Ltd will need to instruct a solicitor on their panel. This will inevitably rack up the overall conveyancing fees and cause delays.
- Get an alternative lawyer to act in the conveyancing, obviously checking they are on the Godiva Mortgages Ltd panel
Please help - my lawyer advises that chancel insurance is required on my purchase. What is the level of cover for Maghull conveyancing?
The right level of chancel indemnity insurance depends on your lender. It would differ for example between National Westminster Bank and Barnsley Building Society. Conveyancing solicitors as opposed to members of the public take out such insurances.
Are all Maghull Conveyancing Quality Solicitors on the Yorkshire BS conveyancing list of approved firms?
It is true that some lenders now use the accreditation scheme as the starting point for Panel approval such as HSBC and Santander. The Law Society’s CQS membership however is no guarantee to lender panel acceptance. That being said,the Council of Mortgage Lenders have indicated that it is likely to become a pre-requisite for solicitors wishing to remain on their approved list of conveyancing solicitors.
I have a mortgage with UBS for my property in Maghull. Conveyancing was finalised 12 months ago. Should I wish to rent out my property and do not currently have a buy-to-let mortgage do I need to remortgage to a BTL mortgage or inform UBS?
You must advise UBS in advance of renting your property as this is likely to be a breach of UBS’s mortgage conditions. In many cases banks or building societies will allow you to rent out your former home without needing to switch to a buy-to-let mortgage but some lenders will add a surcharge to your mortgage rate to reflect the higher risk. You should contact UBS directly. It should not be necessary to do this via a UBS conveyancing panel solicitor.
I require quick conveyancing in Maghull as I have an ultimatum to complete within one month. A home loan is not required. Is it possible to escape the need for conveyancing searches to save money and time?
As you are not taking a mortgage you have the choice not to do searches although no law firm would advise that you don't. Drawing on years of experience of conveyancing in Maghull the following are instances of issues that can appear and adversely impact future saleability: Refused Planning Applications, Overdue Charges, Outstanding Grants, Unadopted Roads,...
How does conveyancing in Maghull differ for new build properties?
Most buyers of new build residence in Maghull come to us having been asked by the seller to sign contracts and commit to the purchase even before the residence is constructed. This is because house builders in Maghull typically purchase the land, 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 property lawyers 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 used to new build conveyancing in Maghull or who has acted in the same development.
Having checked my lease I have discovered that there are only Seventy years left on my lease in Maghull. I now want to extend my lease but my landlord is missing. What should I do?
If you meet the appropriate requirements, under the Leasehold Reform, Housing and Urban Development Act 1993 you can submit an application to the County Court for for permission to dispense with the service of the initial notice. This will mean that your lease can be granted an extra 90 years by the Court. You will be obliged to demonstrate that you or your lawyers have used your best endeavours to find the landlord. On the whole an enquiry agent should be useful to try and locate and to produce an expert document which can be used as proof that the landlord is indeed missing. It is advisable to get professional help from a solicitor both on devolving into the landlord’s disappearance and the application to the County Court covering Maghull.
I am the registered owner of a 1 bedroom flat in Maghull, conveyancing formalities finalised in 1998. Can you please calculate a probable premium for a statutory lease extension? Comparable flats in Maghull with a long lease are worth £195,000. The average or mid-range amount of ground rent is £45 charged once a year. The lease comes to an end on 21st October 2087
With just 63 years remaining on your lease the likely cost is going to be between £16,200 and £18,600 plus professional fees.
The figure above a general guide to costs for extending a lease, but we are not able to supply a more accurate figure in the absence of detailed due diligence. Do not use the figures in tribunal or court proceedings. There are no doubt additional issues 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.
My lawyer in Maghull has informed me that he requires identification documents asserting that this is part of his legal duty as a solicitor on the bank Conveyancing panel. Can this be correct?
Due to Money Laundering Regulations your conveyancing lawyer is duty bound to confirm positively your identification when entering into a business relationship with you. It is a criminal offence if your lawyer not do this. If you do not provide ID early in the transaction the solicitor must refuse to act for you. It’s unlikely a lawyer will turn you away if you come to the first meeting without relevant ID but you will have to produce it at some point so you might as well bring it with you to the initial meeting so the lawyer can tick the ID verification box and start sorting out the conveyancing straight away. If you are getting a mortgage, your lawyer also has to check ID documents to satisfy the mortgage company. This is not specific to conveyancing in Maghull