My wife and I are due to exchange on the purchase of a property in Sefton but as a result of damage from a small fire at the property I have was able negotiate recompense from the seller of £3k taking the form of a reduction in the price. This was going to be addressed as part of amending the contract however Principality are not allowing this. Why were they involved?
Any conveyancer that is on the Principality conveyancing panel is required to inform Principality of any variations to the sale price. If you were to refuse your property lawyer to disclose the reduction to Principality then they would have to discontinue acting for you. In addition, Principality and you would have to appoint a new solicitor for your conveyancing in Sefton.
I am in the process of refinancing my apartment in Sefton, does my lawyer have to be on the Coventry BS Conveyancing panel?
In theory, you could use a solicitor that is not on the Coventry BS conveyancing panel, but Coventry BS would require one of their panel solicitors to be instructed to act in their interests, and you'd have to pay for this - so most people instruct a panel solicitor. It's also easier, as otherwise you'd have to deal with two solicitors for the same conveyancing matter.
I have paid off my mortgage with Skipton. I assume I don't need a Sefton solicitor on the Skipton panel to discharge the mortgage at the Land Registry. Am I right?
If you have finished paying off your Skipton mortgage, they may send you evidence showing that you have paid it off. Alternatively they may notify the Land Registry directly. The Land Registry need to see this evidence before they will remove the Skipton mortgage from the register. Skipton, and any evidence they send you, will determine the action you need to take. In cases where no conveyancer is acting for you and you have paid off your mortgage:
- but are not moving to another property
- where Skipton has sent the Land Registry the discharge electronically, and
- Skipton has instructed the Land Registry to do so
The formalities of my purchase has taken place for my property in Sefton. Conveyancing was a necessary evil but I feel I should register my dissatisfaction about the lender. Who do I contact should I wish to lodge a complaint?
Almost all lenders have complaints procedures. Your first point of contact should be one of the lender’s branches or the Customer Services Department at head office. Ordinarily complaints to a lender are sorted out effectively and efficiently. However if you are not satisfied that the matter is not resolved you can write to Financial Ombudsman Service who will take matters further.
About to purchase house in Sefton. 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 Principality 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 Sefton solicitor is on the Principality conveyancing panel.
The estate agent has sent us the confirmation of our purchase of a new build flat in Sefton. Conveyancing is daunting at the best of times but I have never purchased a new build flat before. What sort of enquires would be asked in new build conveyancing.
Set out below is a sample of a few leasehold new build enquiries that you may expect your new-build leasehold conveyancing in Sefton
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Forfeiture - bankruptcy or liquidation must not apply under this provision. Will control of the Management Company (if any) be handed over to purchasers on completion of the last sale or earlier? 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? If there are lifts in the building, please confirm that the owners of flats on the ground and basement floors will not be required to contribute towards the cost of maintenance and renewal.
I am hoping to put an offer on a small detached house that seems to meet my requirements, at a reasonable figure which is making it more attractive. I have subsequently found out that the title is leasehold rather than freehold. I am assuming that there are particular concerns purchasing a house with a leasehold title in Sefton. Conveyancing solicitors have not yet been appointed. Will they explain the issues?
The majority of houses in Sefton are freehold rather than leasehold. In this scenario it’s worth having a local solicitor who is familiar with the area who can assist with the conveyancing process. We note that you are purchasing in Sefton in which case you should be looking for a Sefton conveyancing solicitor and check that they are used to dealing with leasehold houses. As a matter of priority you will need to check the unexpired lease term. Being a leaseholder you will not be at liberty to do whatever you want with the house. The lease comes with conditions for example obtaining the freeholder’sconsent to conduct alterations. You may also be required to pay a maintenance charge towards the maintenance of the estate where the house is located on an estate. Your solicitor will advise you fully on all the issues.
I invested in buying a studio flat in Sefton, conveyancing formalities finalised March 2006. Can you let me have an estimated range of the fair premium for a lease extension? Comparable properties in Sefton with a long lease are worth £211,000. The average or mid-range amount of ground rent is £50 yearly. The lease ceases on 21st October 2093
With only 68 years remaining on your lease we estimate the premium for your lease extension to be between £9,500 and £11,000 as well as costs.
The suggested premium range above a general guide to costs for extending a lease, but we cannot give you the actual costs in the absence of comprehensive investigations. Do not use the figures in tribunal or court proceedings. There are no doubt additional concerns that need to be taken into account and clearly you want to be as accurate as possible in your negotiations. Please do not take any other action based on this information before seeking the advice of a professional.
Me and my partner are soon to complete buying a house in Sefton but as a result of wreckage from the recent storms I have negotiated compensation from the current proprietors of £3k taking the form of a deduction in the price. This was going to be dealt with as part of the conveyancing process yet my lender will not permit this. Should they have been involved?
The property lawyer being on the lender conveyancing panel is required to inform the mortgage company of any variations to the sale amount. In the event that you prohibit your conveyancer to disclose the reduction to your mortgage company then they would have to disinstructing themselves from representing you and the lender.