We are purchasing a flat and need a conveyancing solicitor in Rainhill who is on the Co-operative solicitor panel. Can you recommend a local firm?
Our service is limited to being a directory service for firms who wish to be listed as being on the approved conveyancing panel for Co-operative . We don't recommend any particular firms conducting conveyancing in Rainhill.
Is it correct that all Rainhill CQS (Conveyancing Quality Scheme) solicitors are on the UBS conveyancing panel?
It is true that some banks and building societies now utilise CQS as the starting point for Panel approval such as HSBC and Santander. The Law Society’s CQS accreditation 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 panels.
Intending to buy a house in Rainhill. I have received an online quote from a licenced conveyancer, which states: "There will be no charge for dealing with the Lender if you are obtaining a mortgage". I take this to mean that there will be no additional fee if the solicitor is on the HSBC conveyancing panel. I wanted to make sure it means there will be no additional fees for dealing with the mortgage.
They are simply saying that the cost for acting for the lender is included in the fee being quoted. It is worth you checking that the Rainhill property lawyer is on the HSBC conveyancing panel.
Aldermore have agreed my home loan in principle, my offer on a house in Rainhill has been accepted, now what?
The estate agent will need to know who your solicitors are (ensure that the lawyers are on the bank’s panel). Telephone Aldermore or the financial adviser and finish off any relevant forms. Aldermore will appoint a valuer who will get in touch with the selling agent or vendor to schedule a time for the valuation to take place. Once conducted (assuming no problems) it takes approximately a week to get a mortgage offer. Aldermore will issue the offer to you and your property lawyers. The legal work will then take it’s course according the nature and complexity of the conveyancing in Rainhill.
My wife and I are downsizing from our home in Rainhill and according to the buyers it appears that there is a possibility that the property was constructed on contaminated land. Any high street Rainhill lawyer would know that there is no such problem. For the life of me I don't know why the buyers are using a web based conveyancing firm rather than a conveyancing solicitor in Rainhill. Having lived in Rainhill for 5 years we know that this is a non issue. Is it a good idea to get in touch with our local Authority to get confirmation that there is no issue.
It sounds as though you may have a conveyancing lawyer currently acting for you. Are they able to advise? You need to check with 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 health insurance to cover that same ailment)
3 months have gone by following my purchase conveyancing in Rainhill completed. I have checked the Land Registry website which shows that I paid £200,000 when infact I paid £160,000. 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 property 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.
I am attracted to a two flats in Rainhill both have in the region of fifty years remaining on the lease term. Should I regard a short lease as a deal breaker?
There is no doubt about it. A leasehold apartment in Rainhill is a wasting asset as a result of the reducing lease term. The nearer the lease gets to zero years unexpired, the more it reduces the value of the premises. The majority of purchasers and lenders, leases with under eighty years become less and less marketable. On a more positive note, leaseholders can extend their leases by serving a Section 42 Notice. One stipulation is that they must have owned the premises for two years (unlike a Section 13 notice for purchasing the freehold, when leaseholders can participate from day one of ownership). When successful, they will have the right to an extension of 90 years to the current term and ground rent is effectively reduced to zero. Before moving forward with a purchase of a residence with a short lease term remaining you should talk to a solicitor specialising in lease extensions and leasehold enfranchisement. We are are happy to put you in touch with Rainhill conveyancing experts who will explain the options available to you during an initial telephone conversation free of charge. More often than not it is possible to negotiate informally with the freeholder to extend the lease. You may find he or she is happy to negotiate informally and willing to consider your offer straight off, without having to involve anyone else. This will save you time and money and it could help you reach a lower price on the lease. You need to ensure that any new terms represent good long-term value compared with the standard benefits of the Section 42 Notice and that onerous clauses are not inserted into any redrafting of the lease.
I bought a studio flat in Rainhill, conveyancing having been completed half a dozen years ago. Can you let me have an estimated range of the fair premium for a lease extension? Corresponding flats in Rainhill with an extended lease are worth £216,000. The ground rent is £50 invoiced every year. The lease runs out on 21st October 2094
With just 69 years unexpired we estimate the premium for your lease extension to range between £9,500 and £11,000 plus costs.
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 investigations. You should not use the figures in tribunal or court proceedings. There may be additional concerns that need to be taken into account and clearly you want to be as accurate as possible in your negotiations. Neither should you move forward placing reliance on this information before getting professional advice.
How and when do I incur stamp duty payable for my Rainhill property purchase?
Your conveyancing practitioner should fill out a stamp duty return for you as part of your Rainhill purchase transaction for you to sign. On completion your solicitor will submit your Land Transaction Return Form to the Inland Revenue and - as long as they have the funds - settle any Stamp Duty payable on your behalf.