Do lenders provide you with an approved list of Speke conveyancing solicitors? How do you know who is on the Coventry BS conveyancing panel?
Speke conveyancing firms themselves provide us confirmation that they are on the Coventry BS conveyancing panel as opposed to being supplied with a list from Coventry BS directly.
My grandmother passed away last year and as sole heir and executor I was left the property in Speke. The house had a small mortgage remaining of approximately £5k. I want to have the title changed into my name whilst I re-mortgage to HSBC, pay off the mortgage. Is this possible?
Where you intend to refinance then HSBC will require that you use a conveyancer on the HSBC conveyancing panel. Here is link to the Land Registry online guidance around what to do when a property owner dies. This will help you to understand the registration process behind changing the details re the registered title. in your case it would appear that you are effectively purchasing the property from the estate. Your HSBC conveyancing panel solicitor pays the new mortgage money into the estate, the estate pays off the old mortgage, the charge is released and you become the owner and the HSBC mortgage is registered as a charge at the Land Registry.
My wife and I are buying a flat in Speke. It might be a silly question but how we can trust a lawyer? At some point we have to send our life savings into their account. What protection do we have from them run away with our monies?
Be assured that all money in a Solicitors client account is 100% safe, and even if your Solicitor ran off with it, the Law Society would reimburse you fully.
I am the sole beneficiary of my late grandmother’s estate and I have everything in my name alone, including the house in Speke. The Speke property was put into my name in March. I plan to dispose of the house. I do know about the CML six month 'rule', which means that my property ownership could be treated the same way as though I had purchased the property in March. Is the property unsalable for six months?
The Council of Mortgage Lenders’ handbook obliges conveyancers to: "report to us immediately if the owner or registered proprietor has been registered for less than six months." Technically you may be impacted by that. How practical a view lenders take of it, depend on the bank as this clause primarily exists to identify subsales or the quick reselling of property.
Co-operative have agreed my home loan in principle, my offer on a apartment in Speke has been accepted, what happens next?
The property agent will wish to be informed of your property lawyer's details (be sure the solicitors are on the lender’s approved list). Telephone Co-operative or the financial adviser and complete any appropriate forms. Co-operative will instruct a valuer who will get in contact with the estate agent or seller to arrange a time for the valuation to happen. Once conducted (assuming no problems) it takes approximately a fortnight for the mortgage offer to be issued. Co-operative will send the offer to you and your conveyancers. The transaction will then take it’s course according the nature and complexity of the conveyancing in Speke.
I have a semi-detached Edwardian property in Speke. Conveyancing practitioner represented me and Clydesdale. I happened to do a free search for it on the Land Registry database and there are two entries: one for freehold, another for leasehold with the exact same address. I'd like to know for sure, how can I find out??
You should read the Freehold register you have again and check the Charges Register as there may be mention of a lease. The best way to be sure that you are also the registered proprietor of the leasehold and freehold title as well is to check (£3). It is not completely unheard of in Speke and other areas of 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 check the position with the conveyancing solicitor who conducted the conveyancing.
I opted to have a survey carried out on a house in Speke in advance of retaining conveyancers. I have been told that there is a flying freehold aspect to the property. The surveyor has said that some mortgage companies tend not grant a mortgage on a flying freehold home.
It depends who your proposed lender is. Santander has different requirements for example to Birmingham Midshires. If you call us we can look into this further with the relevant bank. If you lender is happy to lend one our lawyers can assist as they are used to dealing with flying freeholds in Speke. Conveyancing may be slightly more expensive based on your lender's requirements.
I would like to sublet my leasehold apartment in Speke. Conveyancing solicitor who did the purchase is retired - so can't ask him. Is permission from the freeholder required?
Some leases for properties in Speke do contain a provision to say that subletting is only permitted with prior consent from the landlord. The landlord is not entitled to unreasonably withhold but, in such cases, they would need to review references. Experience suggests that problems are usually caused by unsatisfactory tenants rather than owner-occupiers and for that reason you can expect the freeholder to take up the references and consider them carefully before granting consent.
I invested in buying a split level flat in Speke, conveyancing having been completed 7 years ago. Can you shed any light on how much the price could be for a 90 year extension to my lease? Comparable flats in Speke with over 90 years remaining are worth £195,000. The average or mid-range amount of ground rent is £45 levied per year. The lease runs out on 21st October 2088
With 63 years remaining on your lease we estimate the premium for your lease extension to range between £16,200 and £18,600 plus costs.
The suggested premium range that we have given is a general guide to costs for renewing a lease, but we cannot give you a more accurate figure in the absence of comprehensive investigations. Do not use this information in a Notice of Claim or as an informal offer. There are no doubt additional issues 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 without first seeking the advice of a professional.