Is the fact that my conveyancer in Wigan is not listed on my lender's solicitor panel that there is a problem with the quality of the firm’s work?
That would more than likely be a wrong assumption to make. There are all sorts of perfectly reasonable explanations. Just recently a report by the solicitors regulator revealed 76% of law firms surveyed had been removed from at least one lender panel. The most common reasons for removal are: (1) low volume of transactions (2) the lawyer is a sole practitioner (3) as part of the HSBC panel reduction (4) regulatory contact by SRA (5) accidental removal. Should you be concerned you should simply call the Wigan conveyancing firm and ask them why they are no longer on the approved list for your lender.
I am buying a property in Wigan. A rare aspect is that the roof has a solar panel. Solicitors conducting should look into this right? Will my lender Co-operative be concerned?
As your lender is Co-operative your lawyer must comply with the formal requirements outlined in Section two of UK Finance Lenders’ Handbook for Co-operative. The CML Handbook stipulates minimum specifications for solar panel roof-space leases, and property lawyers are required to report to Co-operative where a lease fails to satisfy these specifications. The requirements relate to the installation of panels on properties countrywide and is not limited to Wigan.
I am selling my house. I had a double glazing fitted in April 2007, but did not receive a FENSA certificate or Building Regulation Certificate. My purchaser’s mortgage company, Virgin Money are being pedantic. The Wigan solicitor who is on the Virgin Money conveyancing panel is happy to accept ‘lack of building regulation’ insurance but Virgin Money are insisting on a building regulation certificate. Why do Virgin Money have a conveyancing panel if they don't accept advice from them?
It is probably the case that Virgin Money have referred the matter to their valuer. The reason why Virgin Money may not want to accept indemnity insurance is because it does not give them any reassurance that the double glazing was correctly and safely installed. The indemnity insurance merely protects against enforcement action which is very unlikely anyway.
UBS have agreed my home loan in principle, my bid on a apartment in Wigan has been accepted, now what?
The property agent will wish to know who your solicitors are (make sure the conveyancing practitioners are on the lender’s approved list). Call up UBS or the broker and finish off any appropriate forms. UBS will appoint a valuer who will get in contact with the estate agent or owners to book an appointment. Once carried out (assuming no problems) it takes on average a fortnight for the mortgage offer to be issued. UBS will send the offer to you and your property lawyers. The transaction will then take it’s course according the nature and complexity of the conveyancing in Wigan.
Various web forums that I have come across warn that are the primary cause of obstruction in Wigan conveyancing transactions. Is that correct?
The Council of Property Search Organisations (CoPSO) released findings of research by MoveWithUs that conveyancing searches do not feature within the common causes of delays during the legal transfer of property. Searches are not likely to be the root cause of holding up conveyancing in Wigan.
I'm purchasing a new build house in Wigan with the aid of help to buy. The developers would not reduce the price so I negotiated 6k of additionals instead. The sale representative advised me not to tell my solicitor about this extras as it could impact my mortgage with the bank. Is this normal?.
All lenders require a Disclosure of Incentives Form from the developer of any new build, converted or renovated property, It is available online from the Lenders’ Handbook page on the CML website. CML form is completed and handed to the lender's surveyor when the inspection is done.
Lenders have different policies on incentives. Some accept none at all, cash or physical, while others will accept cash incentives up to 5%.
Hard to understand why the representative of a builder would be suggesting you withold information from a solicitor when all this will be clearly visible on forms the builder has to supply to its solicitor, the buyer's solicitor and the surveyor.
Yesterday I discovered that there is a flying freehold issue on a property I have offered on a fortnight ago in what should have been a quick, chain free conveyancing. Wigan is where the house is located. Can you offer any assistance?
Flying freeholds in Wigan are not the norm but are more likely to exist in relation to terraced houses. Even where you use a solicitor outside Wigan you must be sure that your lawyer goes through the deeds diligently. Your mortgage company may require your conveyancing solicitor to take out an indemnity policy. Some of the more diligent conveyancing solicitors in Wigan may determine 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.
I've found a house that appears to meet my requirements, at a great price which is making it more attractive. I have just been informed that it's a leasehold rather than freehold. I am assuming that there are issues purchasing a leasehold house in Wigan. Conveyancing lawyers have not yet been appointed. Will my lawyers set out the risks of buying a leasehold house in Wigan ?
The majority of houses in Wigan are freehold rather than leasehold. This is one of the situations where having a local conveyancer who is familiar with the area who can help the conveyancing process. It is clear that you are buying in Wigan in which case you should be looking for a Wigan conveyancing solicitor and check that they are used to advising on leasehold houses. First you will need to check the number of years remaining. As a tenant you will not be entirely free to do whatever you want to the property. The lease comes with conditions for example requiring the landlord’spermission to conduct alterations. You may also be required to pay a service charge towards the upkeep of the estate where the house is located on an estate. Your conveyancer should report to you on the legal implications.
I acquired a leasehold flat in Wigan, conveyancing having been completed 7 years ago. How much will my lease extension cost? Comparable flats in Wigan with an extended lease are worth £211,000. The ground rent is £50 yearly. The lease expires on 21st October 2093
With 68 years remaining on your lease the likely cost is going to span between £9,500 and £11,000 as well as legals.
The suggested premium range that we have given is a general guide to costs for renewing a lease, but we are not able to advice on a more accurate figure without more detailed due diligence. You should not use the figures in tribunal or court proceedings. There may be additional issues that need to be considered and clearly you want to be as accurate as possible in your negotiations. You should not move forward based on this information without first seeking the advice of a professional.