I am hoping to receive a offer of a home loan from Halifax. My intention is to use a Licensed Conveyancer in Wirral. Does the Halifax Solicitor panel exclude Licensed Conveyancers?
The Halifax approved solicitor list is, like many other lenders, associated to the Council or Mortgage Lenders or BSA, open to Licensed Conveyancers regulated by the CLC.
My conveyancer has identified a defect with the lease for the apartment we are purchasing in Wirral. The other side have put forward title insurance as a workaround. We are content with insurance and will pay for it. Our conveyancing practitioner has advised that he must ensure that the mortgage company is content with this solution. Are we the client or is the mortgage company ?
The short answer to your last question is that, notwithstanding the risk of a conflict of interest, you and the mortgage company are the client. Your lawyer must comply with the UK Finance Lenders’ Handbook provisions. The UK Finance Lenders’ Handbook conditions require your lawyer to disclose issues such as defects with the lease so that the lender can be afforded the opportunity to check with their valuer as to the extent that the value of the property is affected. Should you refuse to allow your lawyer to make the appropriate notification then your conveyancing practitioner will have no choice but to discontinue acting for you.
Yesterday I discovered that there is a flying freehold element on a property I put an offer in two weeks back in what was supposed to be a straight forward, no chain conveyancing. Wirral is where the house is located. What do you suggest?
Flying freeholds in Wirral are not the norm but are more likely to exist in relation to terraced houses. Even where you use a solicitor outside Wirral you would need to get your solicitor to go through the deeds diligently. Your bank may require your conveyancing solicitor to take out an indemnity policy. Some of the more diligent conveyancing solicitors in Wirral 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.
I have been recommended by a few estate agents in Wirral to find a solicitor on your site. Is there a financial advantage for Estate Agents to market your site rather than alternative conveyancing organisations?
We refuse to offer any referral fee for directing people to this site. We thought it would be too underhand to pay a commission as a client could think, ‘How come the agent getting a kickback? Why aren’t I receiving any benefit too?’ So we decided to step away from that.
Back In 2004, I bought a leasehold flat in Wirral. Conveyancing and Halifax mortgage organised. I have received a letter from someone claiming to own the reversionary interest in the property. It included a demand for arrears of ground rent dating back to 1993. The conveyancing solicitor in Wirral who previously acted has now retired. What should I do?
The first thing you should do is make enquiries of the Land Registry to be sure that the individual claiming to own the freehold is indeed the registered owner of the freehold reversion. You do not need to incur the fees of a Wirral conveyancing firm to do this as it can be done on-line for less than a fiver. Rest assured that regardless, even if this is the rightful landlord, under the Limitation Act 1980 the limitation period for recovery of ground rent is six years.
I acquired a ground floor flat in Wirral, conveyancing formalities finalised 5 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 Wirral with over 90 years remaining are worth £185,000. The ground rent is £65 levied per year. The lease terminates on 21st October 2087
With only 61 years remaining on your lease we estimate the premium for your lease extension to be between £19,000 and £22,000 plus plus your own and the landlord's "reasonable" professional fees.
The figure above a general guide to costs for extending a lease, but we are not able to provide the actual costs in the absence of comprehensive due diligence. Do not use this information in a Notice of Claim or as an informal offer. There are no doubt other concerns that need to be considered and clearly you want to 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.
I am an executor of my recently deceased aunt’s Will, with a bungalow in Wirral which will be marketed. The property is unregistered at HMLR and I'm told that many purchasers will insist that it is done before they'll move forward. What's the procedure for this?
In the situation you refer to it seems advisable to seek to register in the names of the personal representative(s) as named in the probate and in their capacity as PRs. HMLR’s online guidance explains how to register for the first time and what is required re the deeds and forms. You would need to include and official copy of the probate as well and complete the form FR1 to refer to the PRs as the applicant.