Am I correct in assuming that the fact that my solicitor in Willen is not listed on my lender's solicitor panel that there is a problem with the standard of his work?
It would not be wise to jump to that conclusion. There are all sorts of perfectly reasonable explanations. Just recently a report by the solicitors regulator indicated 76% of law firms surveyed had been removed from at least one lender panel. The most common reasons for removal are: (1) lack 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 Willen conveyancing firm and enquire why they are no longer on the approved list for your lender.
My son-in-law is purchasing a new build apartment in Willen with a home loan from Virgin Money. His lawyer has said that there is a delay in receiving the ‘Disclosure of Incentive Form’. Who needs to receive the form?
The document is intended to provide information to the main parties involved in the transaction. Therefore, it will be provided to your son’s lawyer who should be on the Virgin Money conveyancing panel as a standard part of the process, and to the valuer when requested. The developer will be required to start the process by downloading the form and completing it. The form will therefore need to be available for the valuer at the time of his or her site visit. The form should be sent to the Virgin Money conveyancing panel solicitor as early as possible, in order to avoid any last minute delays, and no later than at exchange of contracts.
Why is leasehold purchase conveyancing in Willen is more expensive?
Willen leasehold properties involve far more paperwork than a freehold purchase, and therefore takes more time to examine and advise upon.Conveyancing will involve the lease having to be checked which is usually a lengthy document, queries raised to ensure that the covenants and conditions have been observed. If it is a flat there will be a management company in existence and the accounts of this will need to be checked and enquiries raised to ensure it is operating efficiently and that all monies due have been paid by the Seller to the company and if not ensuring that money is paid up to date or the appropriate undertakings obtained.
Despite weeks of looking the Title Certificate and documents to my property are lost. The solicitors who handled the conveyancing in Willen 4 years ago have long since closed. What do I do?
Gone are the days when you need to hold title original deeds to evidence that you are the owner of your registered land or premises, given that the Land Registry have everything they need in a digital format.
Due to the encouragement of my in-laws I had a survey completed on a property in Willen ahead of instructing lawyers. I have been advised that there is a flying freehold overhang to the house. The surveyor advised that some banks tend not issue a mortgage on this type of premises.
It depends who your proposed lender is. Lloyds has different instructions from Halifax. Should you wish to call us we can check via the relevant mortgage company. If you lender is happy to lend one our lawyers can assist as they are used to dealing with flying freeholds in Willen. Conveyancing may be slightly more expensive based on your lender's requirements.
There are only Sixty One years remaining on my lease in Willen. I now wish to extend my lease but my landlord is can not be found. What are my options?
If you qualify, under the Leasehold Reform, Housing and Urban Development Act 1993 you can apply to the County Court for for permission to dispense with the service of the initial notice. This will enable the lease to be lengthened by the magistrate. However, you will be required to demonstrate that you have done all that could be expected to find the freeholder. On the whole a specialist would be helpful to try and locate and to produce a report to be used as evidence that the freeholder can not be located. It is advisable to get professional help from a property lawyer in relation to investigating the landlord’s disappearance and the vesting order request to the County Court overseeing Willen.
I bought a 1st floor flat in Willen, conveyancing formalities finalised April 1997. Can you let me have an estimated range of the fair premium for a lease extension? Equivalent flats in Willen with over 90 years remaining are worth £171,000. The average or mid-range amount of ground rent is £50 charged once a year. The lease terminates on 21st October 2104
With only 79 years left to run the likely cost is going to be between £8,600 and £9,800 plus legals.
The figure that we have given is a general guide to costs for extending a lease, but we cannot give you the actual costs without more comprehensive investigations. You should not use the figures in tribunal or court proceedings. There may be additional concerns that need to be considered and clearly you should be as accurate as possible in your negotiations. Neither should you take any other action based on this information before seeking the advice of a professional.