Due to move into my new home in Haslingden next Monday. My conveyancing practitioner now wants me to supply her with proof of content and building insurance for the property as he says that he has to check this in his capacity as lawyer for the bank. What does the insurance need to cover?
Any lawyer on acting for mortgage companies would need to check that the following risks are covered fire; lightning; aircraft; explosion; earthquake; storm; flood; escape of water or oil; riot; malicious damage; theft or attempted theft; falling trees and branches and aerials; subsidence; heave;landslip;collision;accidental damage to underground services;professional fees, demolition and site clearance costs; and public liability to anyone else. There are some other issues such as the level of excess that are set out in a lender’s Part 2 requirements. These obligations are not specific to conveyancing in Haslingden.
We note that you have a post code search directory identifying firms on the Lloyds conveyancing panel. Do companies pay you a referral fee if I retain them for our own conveyancing in Haslingden?
We are a listing service only for law firms wishing to communicate if they are on the Lloyds conveyancing panel or other lender panels. We do not charge referral fees to any conveyancer that you subsequently appoint for your conveyancing in Haslingden.
I am buying a house and need a conveyancing solicitor in Haslingden who is on the The Mortgage Works conveyancing. Can you recommend a local solicitor?
Our service is limited to being a directory service for firms who wish to listed as being on the approved conveyancing panel for The Mortgage Works in certain locations such as Haslingden. We dont recommend any particular firm.
We have a mortgage agreed in principle with Skipton. Haslingden conveyancing practitioners are selected. How long does it take for Skipton to send the offer to the lawyer?
Some lenders take longer than others. Have Skipton completed the survey? Have you informed Skipton as to your lawyers' details and checked that your lawyers are on the Skipton conveyancing panel? It is not unusual for a mortgage offer to take a month to come through.
We have agreed to purchase a house in Haslingden. A rare aspect is that the roof has a solar panel. Co-operative have issued a mortgage offer so presumably this is not a concern to them. Why is my solicitor raising questions about the panel?
Given that you are obtaining a mortgage with Co-operative your lawyer must check the conveyancing instructions contained in Part two of UK Finance Lenders’ Handbook for Co-operative. The Council of Mortgage Lenders’ Handbook sets out minimum conditions for solar panel roof-space leases, and solicitors are required to report to Co-operative where a lease fails to satisfy these requirements. The provisions relate to the installation of panels on properties nationwide and is not limited to Haslingden.
I have today made my last payment due on my mortgage with Virgin Money. I assume I don't need a Haslingden solicitor on the Virgin Money panel to discharge the mortgage at the Land Registry. Please confirm.
If you have finished paying off your Virgin Money mortgage, they may send you evidence showing that you have paid it off. Alternatively they may notify the Land Registry directly. The Land Registry need to see this evidence before they will remove the Virgin Money mortgage from the register. Virgin Money, and any evidence they send you, will determine the action you need to take. In cases where no conveyancer is acting for you and you have paid off your mortgage:
- but are not moving to another property
- where Virgin Money has sent the Land Registry the discharge electronically, and
- Virgin Money has instructed the Land Registry to do so
I've recently found out 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 simple, no chain conveyancing. Haslingden is where the house is located. Can you offer any opinion?
Flying freeholds in Haslingden are rare but are more likely to exist in relation to terraced houses. Even where you use a solicitor outside Haslingden you must be sure that your lawyer goes through the deeds very carefully. Your bank may require your conveyancing solicitor to take out an indemnity policy. Some of the more diligent conveyancing solicitors in Haslingden 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 premises.
I am a negotiator for a long established estate agency in Haslingden where we see a number of leasehold sales jeopardised due to short leases. I have received contradictory information from local Haslingden conveyancing solicitors. Can you shed some light as to whether the seller of a flat can instigate the lease extension formalities for the buyer?
Provided that the seller has owned the lease for at least 2 years it is possible, to serve a Section 42 notice to commence the lease extension process and assign the benefit of the notice to the purchaser. This means that the proposed purchaser need not have to wait 2 years for a lease extension. Both sets of lawyers will agree to form of assignment. The assignment needs to be completed before, or simultaneously with 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 buyer.
I bought a 2 bed flat in Haslingden, conveyancing was carried out half a dozen years ago. Can you shed any light on how much the price could be for a 90 year extension to my lease? Comparable properties in Haslingden with over 90 years remaining are worth £176,000. The average or mid-range amount of ground rent is £50 yearly. The lease ends on 21st October 2104
With 80 years remaining on your lease the likely cost is going to span between £8,600 and £9,800 plus 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 provide a more accurate figure in the absence of comprehensive investigations. You should not use this information in a Notice of Claim or as an informal offer. There may be other issues 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.