It is 10 years ago since I bought my home in Widnes. Conveyancing lawyers have recently been retained on the sale but I can't locate the deeds. Is this a problem?
You need not be too concerned. Firstly the deeds may be with your lender or they may be in the possession of the lawyers who acted in your purchase. Secondly the likelihood is that the title will be registered at the land registry and you will be able to prove you own the property by your conveyancing lawyers obtaining up to date copy of the land registers. The vast majority of conveyancing in Widnes relates to registered property but in the rare situation where your home is not registered it is more tricky but is not insurmountable.
Yesterday I discovered that there is a flying freehold element on a property I put an offer in last month in what should have been a simple, chain free conveyancing. Widnes is the location of the property. Can you shed any light on this issue?
Flying freeholds in Widnes are rare but are more likely to exist in relation to terraced houses. Even though you don't necessarily need a conveyancing solicitor in Widnes you would need to get your solicitor to go through the deeds very carefully. Your mortgage company may require your conveyancing solicitor to take out an indemnity policy. Some of the more diligent conveyancing solicitors in Widnes may ascertain that this is not enough and that the deeds be re-written to give you the most up to date legal protection. If so, the next door neighbour also had to sign up to the revised deeds.It is possible that your lender will not accept the situation so the sooner you find out the better. You should also check with your insurance broker as to whether they will insure a flying freehold property.
Am I right to be suspicious about 3rd parties that I am dealing with are encouraging me to use a national conveyancing firm as opposed to a High Street Widnes conveyancing firm?
As is the case with many service providers, often suggestions from family and friends can be extremely useful or valuable. Yet there are lots of parties with a keen interest in a conveyancing matter; estate agents, mortgage brokers and mortgage companies might all suggest lawyers to instruct. Sometimes these solicitors might be known to one of the organisations as experts in their field, but occasionally there is an underlying financial incentive behind the endorsement. You have the discretion to select your preferred lawyer. You need to be aware that most banks specify a panel list of lawyers you must use for the mortgage related work in your conveyancing.
I need to instruct a conveyancing solicitor in Widnes for my house move. Is it possible to check a firm’s complaints history with the profession’s regulator?
Anyone may search for presented Solicitor Regulator Association (SRA) determinations stemming from investigations from 2008 onwards. Go to Check a solicitor's record. For information Pre 2008, or to check a solicitors record, ring 0870 606 2555, 08.00 - 18.00 any week day save for Tuesday when lines open at 9.30am. For callers outside the UK, call +44 (0)121 329 6800. The SRA sometimes monitor telephone calls for training purposes.
I am a negotiator for a reputable estate agent office in Widnes where we see a number of leasehold sales derailed as a result of short leases. I have been given inconsistent advice from local Widnes conveyancing firms. Could you shed some light as to whether the owner of a flat can instigate the lease extension formalities for the buyer?
As long as the seller has owned the lease for at least 2 years it is possible, to serve a Section 42 notice to kick-start the lease extension process and assign the benefit of the notice to the purchaser. The benefit of this is that the buyer can avoid having to sit tight for 2 years for a lease extension. Both sets of lawyers will agree to form of assignment. The assignment needs to be completed prior to, or at the same time as completion of the sale.
Alternatively, it may be possible to extend the lease informally by agreement with the landlord either before or after the sale. If you are informally negotiating there are no rules and so you cannot insist on the landlord agreeing to grant an extension or transferring the benefit of an agreement to the purchaser.
I am the registered owner of a garden flat in Widnes, conveyancing formalities finalised 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? Similar properties in Widnes with a long lease are worth £190,000. The ground rent is £65 charged once a year. The lease terminates on 21st October 2086
With just 61 years left to run we estimate the premium for your lease extension to range between £19,000 and £22,000 as well as plus your own and the landlord's "reasonable" professional fees.
The suggested premium range above a general guide to costs for renewing a lease, but we cannot give you the actual costs without more detailed due diligence. Do not use this information in tribunal or court proceedings. There are no doubt other concerns that need to be considered and clearly you want to be as accurate as possible in your negotiations. Neither should you move forward based on this information without first seeking the advice of a professional.
I am buying a house and cash is in place. My conveyancer has been supplied with with 2 distinct proof of photographic ID, bank statement, numerous utility bills. Now he wants a copy from a probate lawyer acknowledging that the funds are in place and that it has come from inheritance and not via illegitimate means.
For some years now requires conveyancing solicitors as well as banks, building societies and other financial institutes to obtain satisfactory evidence of the identity of the client. This is because solicitors who deal with money and property on behalf of their clients can be used by criminals wishing to launder money. In order to comply with the law of money laundering, your Widnes conveyancing lawyer will need to obtain evidence of your identity as as well as make sure that your funds are legitimate.