I am not well enough to travel far from Welton. Is there a reason why all Welton property lawyers aren't included on all lender panels?
Even though it may seem unfair for banks to restrict who can represent them, from the public’s or lawyer’s standpoint, the other side of the coin is that lenders are becoming ever more anxious and feel it necessary to shield themselves against illegal activities. As a consequence of this concern lenders are limiting their panel of approved conveyancing lawyers to a manageable size.
We are getting closer to an exchange on a flat in Welton and my parents have sent the exchange deposit to my property lawyer. I am now told that as the deposit has been received from someone other than me my conveyancer needs to disclose this to my bank. Apparently, in also acting for the lender he must inform them that the balance of the purchase price is coming from anyone other than me. I informed the bank concerning my parents' contribution when I applied for the home loan, so is it really necessary for this now to hold matters up?
The conveyancing practitioner is duty bound to check with the bank to ensure that they are aware that the balance of the purchase price is not from your own funds. Your solicitor can only reveal this to your mortgage company if you permit them to, failing which, your lawyer must cease to continue acting.
I have justdiscovered that Wolstenholmes have been shut down. They conducted my conveyancing in Welton for a purchase of a freehold house 10 months ago. How can I establish that the property is in my name in the name of the previous owner?
The easiest way to see if the premises is in your name, you can make a search of the land registry (£3.00). You can either do this yourself or ask a law firm to do this for you. If you are not registered you can seek help from one of a number of Welton conveyancing specialists.
I have been pointed in your direction by a few estate agents in Welton to get a quote from a solicitor using your seach tool. What’s the financial upside for Estate Agents to recommend your services rather than another?
We refuse to give any commission for pointing buyers and sellers our way. We found it would be just too difficult a fee because a client could think, ‘How come the agent getting a kickback? Why am I not receiving any benefit too?’ So we decided to step away from that.
I have recently realised that I have 68 years left on my lease in Welton. I need to get lease extension but my landlord is missing. What should I do?
If you meet the appropriate requirements, under the Leasehold Reform, Housing and Urban Development Act 1993 you can apply to the County Court for an order to dispense with the service of the initial notice. This will mean that your lease can be granted an extra 90 years by the Court. However, you will be required to prove that you or your lawyers have made all reasonable attempts to locate the freeholder. For most situations an enquiry agent should be helpful to try and locate and prepare an expert document which can be used as evidence that the landlord can not be located. It is advisable to get professional help from a conveyancer in relation to proving the landlord’s disappearance and the application to the County Court overseeing Welton.
I bought a leasehold flat in Welton, conveyancing was carried out 10 years ago. Can you let me have an estimate of the premium that my landlord can legally expect in return for granting a renewal of my lease? Comparable properties in Welton with a long lease are worth £180,000. The ground rent is £65 invoiced annually. The lease ceases on 21st October 2084
With only 59 years unexpired the likely cost is going to be between £20,900 and £24,200 plus professional fees.
The suggested premium range above a general guide to costs for renewing a lease, but we cannot give you a more accurate figure without more comprehensive due diligence. Do not use this information in a Notice of Claim or as an informal offer. There may be other concerns that need to be taken into account and clearly you should be as accurate as possible in your negotiations. You should not move forward placing reliance on this information without first seeking the advice of a professional.
Should one as executor remove a departed person's details from the title register for a property in Welton?
If a Welton property is co-owned and one of the owners dies, their name will not immediately be removed from the Land Registry title. It is not necessary to remove their name as when it comes to a sale you would just be required to evidence why the co proprietor is not a party to the transfer, normally this takes the form of a grant of probate.
With the aim of making the sale conveyancing simpler for the sale of the property you may apply to have the deceased party erased from the title entries by submitting an application to the land registry with proof of the death. There is no land registry fee payable.