I have just been advised by my IFA that my Saltney the law firm I have appointed is not on the bank Solicitor panel. How can I be certain that this is indeed the case?
The first thing you need to do is to call your Saltney conveyancer. You lawyer should advise you what has happened. If they are not on the panel they may be able to suggest a Saltney conveyancing firm that is on the conveyancing panel for your lender.
five months have gone by following my purchase conveyancing in Saltney completed. I have checked the Land Registry site which shows that I paid £175,000 when infact I paid £180,000. 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 buying a new build flat in Saltney. Conveyancing is necessary evil at the best of times but I have never purchased a new build flat before. Can you give me some examples of some of the questions asked in new build legal work.
Here is a sample of a few leasehold new build enquiries that you can expect your new-build leasehold conveyancing in Saltney
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The Lease must contain a provision on behalf of the Vendor to pay the service charges in respect of unoccupied units in order to ensure that all services can be provided. Will the freehold then be transferred for a nominal consideration (not exceeding £100) to the Management Company? Where service of notices and proceedings can be at the property demised please confirm that this can be amended to include simultaneous services at the Lessees’ solicitors’ offices where the Lessee from time to time is not resident in the UK - such solicitors may be varied by notice in writing to the Landlord from time to time but otherwise will be as previously specified. Has the Lease plan been approved by the Land Registry and if not when will they be lodged for this purpose? The Landlord must covenant to assume the management if the Management Company goes into liquidation or otherwise defaults in running the management scheme.
I'm converting the mortgage on my existing house to a BTL loan with Aldermore and intend to use the remaining equity as a deposit on a second house. The area we are interested in is Saltney. Will your lawyers be able to act for the two lenders and tie in the conveyances?
Make use of our comparison tool on this site to be sure that the lawyers are on the appropriate lender panels. Assuming that they are your lawyer should be able to connect the two conveyancing matters but you should talk with you lawyer and make apparent your desired outcome and requirements.
I only have 62 years unexpired on my lease in Saltney. I now wish to get lease extension but my landlord is can not be found. What options are available to me?
If you meet the appropriate requirements, under the Leasehold Reform, Housing and Urban Development Act 1993 you can apply to the County Court for for permission to dispense with the service of the initial notice. This will enable the lease to be lengthened by the magistrate. You will be obliged to demonstrate that you have done all that could be expected to find the landlord. In some cases an enquiry agent would be useful to carry out a search and prepare an expert document which can be used as proof that the landlord can not be located. It is advisable to get professional help from a property lawyer in relation to devolving into the landlord’s disappearance and the application to the County Court overseeing Saltney.
I bought a ground floor flat in Saltney, conveyancing having been completed in 2012. Can you work out an approximate cost of a lease extension? Corresponding properties in Saltney with over 90 years remaining are worth £165,000. The ground rent is £50 levied per year. The lease ends on 21st October 2102
With only 77 years unexpired the likely cost is going to span between £7,600 and £8,800 plus professional fees.
The figure that we have given is a general guide to costs for extending a lease, but we cannot give you the actual costs without more comprehensive investigations. Do not use this information in a Notice of Claim or as an informal offer. There may be additional concerns that need to be considered and you obviously want to be as accurate as possible in your negotiations. Please do not move forward based on this information without first getting professional advice.
My nephew is about to join the property ladder, he had his mortgage in principle. One the seller agreed the offer on the apartment we called the lender to issue the formal offer. I was disappointed to discover that mortgage lenders do not accept all property lawyer, they must be on their panel, is this right?
Lenders tend to restrict either the type or the number of conveyancing solicitors on their panel. A common example of such restriction(s) being that a firm must have two or more partners. In addition to restricting the type of firm, some have decided to limit the number of firms they use to represent them. You should note that lenders have no responsibility for the quality of advice provided by any Saltney conveyancer on their panel. Mortgage fraud was a key driver in the rationalisation of conveyancing panels a few years ago and whilst there are differing views about the extent of solicitor involvement in some of that fraud. Statistics from the Land Registry reveal that thousands of law firms only carry out one or two conveyances a year. Those supporting conveyancing panel cuts ask why law firms should have the right to be on a Lender panel when clearly, conveyancing is not their speciality. To put it another way; would you want a conveyancing solicitor to represent you if you were charged with a crime? Presumably not.