My financial adviser says he needs my Walsall solicitor’s panel member for the Nationwide conveyancing panel. How do I obtain this. I have contacted my local Walsall branch but they have not responded to me.
You are best placed to get this information from your Walsall lawyer . Most Walsall law firms will keep a file or database of lender panel information which would include, if applicable, their conveyancing panel details for each lender.
Can you explain why leasehold purchase conveyancing in Walsall costs more?
The conveyancing fees on a leasehold property in Walsall is inevitably greater than on a freehold acquisition or disposal. This is due to the extra work necessary in dealing with the landlord and management company to collate the evidence about whether the rent and maintenance charges have been discharged and whether there are any significant expenditure in the foreseeable future on repairs or maintenance of the building.
I have today made my last payment due on my mortgage with Lloyds. I assume I don't need a Walsall conveyancing practitioner on the Lloyds panel to remove the mortgage at the Land Registry. Am I right?
If you have finished paying off your Lloyds 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 Lloyds mortgage from the register. Lloyds, 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 Lloyds has sent the Land Registry the discharge electronically, and
- Lloyds has instructed the Land Registry to do so
I can not work out if my mortgage offer requires a lease extension. I have called my Walsall bank branch on numerous occasions and was told they are content with the situation and they would lend. My Walsall conveyancing solicitor - who is on the bank conveyancing panel- called and was told they refuse to lend based on their specific requirements. I simply don't know who is right.
As long as the solicitor is on the mortgage company approved list, she or he must adhere to the CML Handbook requirements for the lender. Unless your lawyer obtains specific confirmation in writing that the bank will go ahead, your lawyer has no choice but to refrain from exchanging contract and committing you to the purchase. We would suggest that you ask the bank to contact your lawyer in writing confirming that they will accept the number of years left on the lease.
I recently had an offer accepted on a house in Walsall. My mortgage broker suggested a conveyancing practitioner. I paid an advanced payment of £175. Shortly after, the property lawyer called me sheepishly admitting that they were not on the RBS conveyancing panel. Am I right in thinking that I should be due a refund?
You should be able to recover this from the law firm if they were not on the RBS panel. They should have asked at the outset which lender you were obtaining a mortgage with. An important lesson to readers of this site is to check that the lawyers are on the appropriate lender panel.
Me and my brother purchased a terraced Edwardian property in Walsall. Conveyancing practitioner acted for me and Nationwide Building Society. 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 under the exact same 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 proprietor of the leasehold and freehold title as well is to check (£3). It is not completely unheard of in Walsall and other areas of the country and poses no real issues for owners other than when they remortgage they have to account for both freehold and leasehold interests when dealing with mortgage companies. You can also enquire as to the situation with the conveyancing solicitor who carried out the work.
We're FTB’s - agreed a price, but the property agent has warned us that the owners will only go ahead if we instruct the agent's chosen conveyancers as they need an ‘expedited deal’. We would rather use a high street solicitor accustomed to conveyancing in Walsall
We suspect that the seller is unaware of this request. If they want ‘a quick sale', taking such a hostile approach to a serious buyer is not the way to achieve this. Speak to the vendors direct and explain that (a)you are keen to buy (b)you are excited to move forward, with finances in place © you are unencumbered (d) you wish to move quickly (e)however you will continue to appoint your own,trusted Walsall conveyancing firm - not the ones that will give their estate agent a kickback or meet his conveyancing targets pre-set by HQ.
Back In 2005, I bought a leasehold house in Walsall. Conveyancing and Bank of Ireland mortgage organised. A letter has just been received from someone claiming to own the freehold. It included a demand for arrears of ground rent dating back to 1996. The conveyancing practitioner in Walsall who previously acted has long since retired. Do I pay?
The first thing you should do is make enquiries of HMLR to be sure that the individual purporting to own the freehold is in fact the registered owner of the freehold reversion. It is not necessary to instruct a Walsall conveyancing practitioner to do this as you can do this on the Land Registry website for a few pound. You should note that in any event, even if this is the rightful freeholder, under the Limitation Act 1980 the limitation period for recovery of ground rent is six years.
I acquired a 1st floor flat in Walsall, conveyancing formalities finalised June 2000. Can you work out an approximate cost of a lease extension? Comparable properties in Walsall with an extended lease are worth £260,000. The average or mid-range amount of ground rent is £45 levied per year. The lease expires on 21st October 2100
With just 74 years unexpired we estimate the price of your lease extension to range between £8,600 and £9,800 plus professional fees.
The suggested premium range above 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 this information in tribunal or court proceedings. There are no doubt other concerns that need to be taken into account and you obviously want to be as accurate as possible in your negotiations. You should not move forward placing reliance on this information before seeking the advice of a professional.