Our solicitor has discovered a a problem with the lease for the apartment we are buying in Shotton. The other side have offered title insurance as a solution. We are content with insurance and will pay for it. Our conveyancing practitioner has advised that he must ensure that the lender is happy with this solution. Are we the client or is the bank?
Regardless of the fact that you have a mortgage offer from the mortgage company does not mean to say that the property will meet their requirements for the purposes of a mortgage. Your lawyer has to ensure that the lease has to comply with the UK Finance Lenders’ Handbook specifications. You and the bank are the client. The appropriate lender requirements must be adhered to.
We are buying a property and need a conveyancing solicitor in Shotton who is on the HSBC conveyancing panel. Could you point me in the right direction as regards a conveyancing 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 HSBC . We don't recommend any particular firms conducting conveyancing in Shotton.
My property lawyer in Shotton is not on the Bank of Scotland Approved Panel. Is it possible for me to continue with my prefered solicitor even though they are not on the Bank of Scotland panel?
The limited options available to you here include:
- Carry on with your existing Shotton solicitors but Bank of Scotland will need to instruct a conveyancer on their list of acceptable firms. This will result in additional overall legal fees as well as result in frustration.
- Find an alternative practitioner to act in the conveyancing, remembering to check they are on the Bank of Scotland panel
I am being advised by my conveyancer that missing deeds insurance is required on my purchase. What is the typical level of cover needed for conveyancing in Shotton?
The right level of missing deeds indemnity insurance depends on your lender. It would differ for example between HSBC Bank and Leeds Building Society. Conveyancing solicitors as opposed to members of the public take out such insurances.
Two weeks ago we had a mortgage agreed in principle with Yorkshire BS. Shotton conveyancing practitioners were appointed. How long does it take for Yorkshire BS to forward the offer to the conveyancing practitioner?
Some lenders take longer than others. Have Yorkshire BS completed the valuation? Have you advised Yorkshire BS as to your lawyers' details and checked that your lawyers are on the Yorkshire BS conveyancing panel? It is not unusual for a mortgage offer to take a month to come through.
Our sealed bid on a detached house in Shotton has been accepted, the sellers do however have an associated purchase. The sellers have offered on somewhere, however it’s not yet agreed to, and have viewings of other apartments in the pipeline. I have selected a bricks and mortar conveyancing solicitor in Shotton. What do I do now? When do I get the mortgage application with RBS going?
It is normal to have anxieties where there is a chain as you are unlikely to want to be too out of pocket too early (mortgage application is approx £1k, then valuation, Shotton conveyancing search charges, etc). First, you should ensure that your conveyancing practitioner is on the RBS approved list. Concerning the subsequent stages this very much depends on the circumstances of your transaction, desire for this property and on the state of the market. In a rising market some purchasers would apply for a home loan with RBS and pay for the valuation and only if it was satisfactory would they pay their lawyer to press on with searches.
What makes your site different to alternative internet conveyancing solicitors for conveyancing in Shotton?
At this site secure a fixed fee costs illustration via a Solicitor or Licensed Conveyancer that has a full understanding of the issues for your conveyancing in Shotton. Unlike many estate agents and many comparison sites we do not operate referral deals with solicitors. Many agents and online brokers 'recommend' solicitors paying the most kickback, not the best value conveyancing in Shotton
I am hoping to exchange soon on a garden flat in Shotton. Conveyancing solicitors have said that they will have a report out to me next week. Are there areas in the report that I should be focusing on?
Your report on title for your leasehold conveyancing in Shotton should include some of the following:
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The physical extent of the demise. This might be the flat itself but could also incorporate a roof area or storage are if appropriate. Rent payments - how much and when you need to pay, and be on notice if this will change in the future An explanation concerning the obligations in the lease to pay service charges - with regard to both the building, and the more general rights a lessee enjoys if lease caters for for a slush fund? You would want to be sent a copy of the lease
I invested in buying a basement flat in Shotton, conveyancing having been completed June 2004. Can you please calculate a probable premium for a statutory lease extension? Similar properties in Shotton with an extended lease are worth £202,000. The average or mid-range amount of ground rent is £60 charged once a year. The lease expires on 21st October 2083
With only 57 years unexpired we estimate the premium for your lease extension to be between £28,500 and £33,000 as well as professional fees.
The figure that we have given is a general guide to costs for renewing a lease, but we cannot give you the actual costs in the absence of detailed due diligence. Do not use the figures in a Notice of Claim or as an informal offer. There may be other issues that need to be taken into account and you obviously should be as accurate as possible in your negotiations. Please do not take any other action placing reliance on this information without first seeking the advice of a professional.