Unfortunately I am unable to travel far from Seaforth. I would like to know the understand why all Seaforth property lawyers aren't automatically on all bank panels?
Even though it may seem unfair for lenders to restrict who can act for them, from the public’s or lawyer’s perspective, the flip side is that lenders are increasingly anxious and regard it crucial to defend themselves from mortgage fraud. As a result of this concern lenders are limiting their conveyancing panel to a manageable size.
As someone not used to conveyancing in Seaforth what is your top tip you can give me concerning the ownership transfer in Seaforth
You may not hear this from too many lawyers but conveyancing in Seaforth or throughout Merseyside is an adversarial experience. Put another way, when it comes to conveyancing there exists an abundance of opportunity for friction between you and others involved in the house moving process. E.g., the vendor, selling agent and sometimes a lender. Selecting a law firm for your conveyancing in Seaforth should not be taken lightly as your conveyancer is your adviser, and is the ONLY person in the transaction whose role it is to protect your best interests and to protect you.
Sometimes a third party with a vested interest will attempt to convince you that you should follow their advice. For instance, the estate agent may claim to be assisting by claiming that your conveyancer is dragging his heels. Or your mortgage broker may try to convince you to do take action that is contrary to your lawyers recommendation. You should always trust your lawyer above all other parties when it comes to the legal transfer of property.
My wife and I own a terraced Georgian property in Seaforth. Conveyancing practitioner acted for me and HSBC Bank. I happened to do a free search for it on the Land Registry database and I saw a couple of entries: the first freehold, the second leasehold with the matching property. I'd like to know for sure, how can I find out??
You need to read the Freehold register you have again and check the Charges Register for mention of a lease. The best way to be sure that you are also the registered owner of the leasehold and freehold title as well is to check (£3). It is not completely unheard of in Seaforth and other locations in the country and poses no real issues for owners other than when they sell they have to account for both freehold and leasehold interests when dealing with buyers. You can also question the situation with your conveyancing solicitor who conducted the work.
I'm purchasing my first flat in Seaforth benefiting from help to buy. The developers refused to budge the price so I negotiated five thousand pounds worth of additionals instead. The property agent advised me not to tell my solicitor about this extras as it could put at risk my mortgage with the lender. Should I keep quiet?.
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.
We're FTB’s - had an offer accepted, yet the agent advised that the seller will only go ahead if we appoint the agent's preferred conveyancers as they want an ‘expedited deal’. My instinct tells me that we should use a high street solicitor accustomed to conveyancing in Seaforth
It is highly unlikely the sellers are driving this. If they desire ‘a quick sale', turning down a genuine buyer is likely to cause more damage than good. Contact the sellers directly and explain that (a)you are keen to buy (b)you are ready to go, with mortgage lined up © you do not need to sell (d) you intend to proceed fast (e)however you are going to appoint your own,trusted Seaforth conveyancing lawyers - not the ones that will provide the estate agent a introducer fee or achieve conveyancing thresholds set by head office.
Do you have any top tips for leasehold conveyancing in Seaforth from the point of view of expediting the sale process?
- Much of the delay in leasehold conveyancing in Seaforth can be reduced where you instruct lawyers as soon as you market your property and ask them to put together the leasehold information needed by the purchasers’ conveyancers. A minority of Seaforth leases require Landlord’s consent to the sale and approval of the buyers. If this is the case, it would be prudent to notify your estate agents to make sure that the purchasers obtain financial (bank) and professional references. Any bank reference should make it clear that the buyer is able to meet the yearly service charge and the actual amount of the service charge should be quoted in the bank’s letter. You will therefore need to provide your estate agents with the actual amount of the service charge so that they can pass this information on to the buyers or their lawyers. The majority of landlords or managing agents in Seaforth levy fees for providing management packs for a leasehold property. You or your lawyers should enquire as to the actual amount of the charges. The management pack can be applied for as soon as you have a buyer, thus accelerating the process. The average time it takes to receive management information is three weeks. It is the most common reason for frustration in leasehold conveyancing in Seaforth. If you have the benefit of shareholding in the Management Company, you should ensure that you have the original share document. Arranging a re-issued share certificate can be a lengthy process and delays many a Seaforth home move. If a new share certificate is necessary, you should approach the company director and secretary or managing agents (where applicable) for this sooner rather than later.
I inherited a split level flat in Seaforth, conveyancing having been completed April 2012. Can you let me have an estimated range of the fair premium for a lease extension? Corresponding flats in Seaforth with a long lease are worth £165,000. The average or mid-range amount of ground rent is £50 charged once a year. The lease comes to an end on 21st October 2102
You have 77 years remaining on your lease we estimate the premium for your lease extension to range between £7,600 and £8,800 plus costs.
The figure above a general guide to costs for renewing a lease, but we are not able to advice on the actual costs without more detailed due diligence. Do not use the figures in tribunal or court proceedings. There may be additional issues that need to be considered and clearly you should be as accurate as possible in your negotiations. Neither should you move forward placing reliance on this information before getting professional advice.