My apartment in Mold is up for sale and I have a purchaser. Will the property lawyer have to be on the Virgin Money conveyancing panel in order to deal with repayment of my mortgage?
Ordinarily, even if your lawyer is not on the Virgin Money conveyancing panel they can still act for you on your sale. It might be that the lender will not release the original deeds (if applicable and increasingly irrelevant) until after the mortgage is paid off. You should speak to your lawyer directly before you start the process though to ensure that there is no problem as lenders are changing their requirements fairly frequently at the moment.
We are purchasing a house in Mold. I might seem paranoid but how we can trust a solicitor? On the day of competition we have to put our life savings into their account. What is the protection we have from them run away with our deposit?
Be assured that all money in a Solicitors client account is 100% safe, and even if your Solicitor ran off with it, the Law Society would reimburse you fully.
I am helping my niece sell her property in Mold. Does the solicitor arrange an energy assessment or it is for the owner to coordinate?
After the demise of Home Packs, energy assessments became a required element of selling a house. An EPC should be commissioned before the property is placed on the market. This is not a task that solicitors normally arrange. Where you are instructing a Mold conveyancing lawyer they might be willing to arrange EPC’s given their contacts with reputable Mold assessors
We are getting a further advance on our home loan from Coventry BS as we want to carry out a loft conversion to our home in Mold. Do we need to select a local Mold solicitor on the Coventry BS conveyancing panel to deal with the legals?
Coventry BS don't usually instruct a member of their conveyancing panel to deal with such a matter. If they do require any legal work then you would need to ensure that such a lawyer was on the Coventry BS conveyancing panel.
Various online forums that I have come across warn that are the main reason for stalling in Mold house deals. Is this right?
The Council of Property Search Organisations (CoPSO) released determinations of research by MoveWithUs that conveyancing searches do not figure amongst the top 10 causes of hindrances during the legal transfer of property. Searches are unlikely to be the root cause of holding up conveyancing in Mold.
I am purchasing my first flat in Mold with a loan from HSBC Bank. The sellers would not reduce the price so I negotiated five thousand pounds worth of fixtures and fittings instead. The property agent suggested that I not reveal to my solicitor about the extras as it will affect my loan with the lender. Is this normal?.
All lenders require a Disclosure of Incentives Form from the builder of any new build, converted or renovated property, It is available online from the Lenders’ Handbook page on the CML website. CML form is completed and handed to the lender's surveyor when the inspection is done.
Lenders have different policies on incentives. Some accept none at all, cash or physical, while others will accept cash incentives up to 5%.
Hard to understand why the representative of a builder would be suggesting you withold information from a solicitor when all this will be clearly visible on forms the builder has to supply to its solicitor, the buyer's solicitor and the surveyor.
I am looking to sell my house. My past lawyers closed down. I would be grateful for any recommendation of a conveyancing firm. Im based in Mold if that makes a difference.
Please use our search tool to help you choose a solicitor for your conveyancing in Mold. We have connected thousands of home buyers and sellers with regulated solicitors to ensure that the legalities of their house move goes with a minimum of fuss.
I am a negotiator for a long established estate agent office in Mold where we have experienced a few leasehold sales jeopardised due to leases having less than 80 years remaining. I have received conflicting advice from local Mold conveyancing solicitors. Please can you shed some light as to whether the seller of a flat can start the lease extension process for the purchaser on completion of the sale?
Provided that the seller has been the owner for at least 2 years it is possible, to serve a Section 42 notice to start the lease extension process and assign the benefit of the notice to the purchaser. The benefit of this is that the buyer can avoid having to wait 2 years for a lease extension. Both sets of lawyers will agree to form of assignment. The assignment has to be done before, or simultaneously with completion of the disposal of the property.
Alternatively, it may be possible to extend the lease informally by agreement with the landlord either before or after the sale. If you are informally negotiating there are no rules and so you cannot insist on the landlord agreeing to grant an extension or transferring the benefit of an agreement to the buyer.
I own a basement flat in Mold, conveyancing formalities finalised 7 years ago. Can you please calculate a probable premium for a statutory lease extension? Corresponding flats in Mold with over 90 years remaining are worth £201,000. The average or mid-range amount of ground rent is £45 invoiced every year. The lease comes to an end on 21st October 2090
With 65 years unexpired the likely cost is going to range between £13,300 and £15,400 plus costs.
The figure above a general guide to costs for extending a lease, but we are not able to supply the actual costs without more detailed investigations. You should not use the figures in tribunal or court proceedings. There are no doubt additional concerns that need to be taken into account and you obviously should be as accurate as possible in your negotiations. You should not take any other action placing reliance on this information before getting professional advice.