Much to our surprise we have been advised by our lender that my Prenton property lawyer is not on the bank Solicitor panel. How can I be certain if this is indeed the case?
The best course of action for you to take is to contact your Prenton conveyancer. You lawyer should notify you of the situation. If they are not on the panel they may recommend you to a Prenton conveyancing firm that is on the approved list of lawyers for your lender.
Do all mortgage companies provide you with an approved list of Prenton conveyancing solicitors? How do you know who is on the Bank of Ireland conveyancing panel?
Prenton conveyancing firms themselves provide us confirmation that they are on the Bank of Ireland conveyancing panel as opposed to being supplied with a list from Bank of Ireland directly.
My wife and I are selling our home in Prenton and the buyers lawyers are claiming that there is a possibility that the property was built on contaminated land. A local conveyancer would know that there is no such problem. For the life of me I don't know why the buyers used a factory type conveyancing outfit as opposed to a conveyancing solicitor in Prenton. We have lived in Prenton for three years we know of no issue. Should we contact our local Authority to seek clarification need.
It would appear that you have a conveyancing lawyer already. Are they able to advise? You must enquire of your lawyer before you do anything. It is very possible that once the local authority has been informed of a potential issue it cannot be insured against (a bit like being diagnosed with a serious illness and then taking out life insurance to cover that same illness)
How does conveyancing in Prenton differ for newly converted properties?
Most buyers of new build residence in Prenton come to us having been asked by the seller to exchange contracts and commit to the purchase even before the house is finished. This is because builders in Prenton typically acquire 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 Prenton or who has acted in the same development.
I've found a house that appears to be perfect, at a great price which is making it all the more appealing. I have subsequently found out that the title is leasehold as opposed to freehold. I am assuming that there are particular concerns purchasing a house with a leasehold title in Prenton. Conveyancing solicitors have are about to be instructed. Will my lawyers set out the implications of buying a leasehold house in Prenton ?
Most houses in Prenton are freehold and not leasehold. This is one of the situations where having a local conveyancer who is familiar with the area who can help the conveyancing process. It is clear that you are purchasing in Prenton in which case you should be looking for a Prenton conveyancing solicitor and check that they are used to advising on leasehold houses. As a matter of priority you will need to check the number of years remaining. Being a leaseholder you will not be at liberty to do whatever you want with the house. The lease comes with conditions such as requiring the landlord’spermission to conduct alterations. It may be necessary to pay a service charge towards the maintenance of the estate where the property is part of an estate. Your solicitor will appraise you on the various issues.
I invested in buying a studio flat in Prenton, conveyancing formalities finalised half a dozen years ago. Can you give me give me an indication of the likely cost of a lease extension? Equivalent flats in Prenton with over 90 years remaining are worth £175,000. The ground rent is £65 invoiced every year. The lease terminates on 21st October 2082
With only 58 years unexpired we estimate the premium for your lease extension to range between £23,800 and £27,400 plus plus your own and the landlord's "reasonable" professional fees.
The figure above a general guide to costs for renewing a lease, but we cannot give you a more accurate figure in the absence of detailed due diligence. You should not use this information in tribunal or court proceedings. There are no doubt additional issues that need to be taken into account and you obviously want to be as accurate as possible in your negotiations. Please do not take any other action based on this information before getting professional advice.
How does one remove a deceased person's details from the title register for a property in Prenton?
If a Prenton property is jointly owned and one of the proprietors passes away, the name will not automatically be removed from the title deeds. You are not required to remove their name as when it comes to a sale you would simply be asked to evidence why the other owner is not included in the transfer, typically this is in the form of a grant of probate.
With a view to making things smoother for the sale of the property you may arrange to have the deceased party removed from the title by submitting an application to HMLR with proof of the death. There is no land registry fee payable.