My husband and I are buying a 3 bedroom flat in Haydock with a mortgage. We wish to retain our Haydock solicitor, but the bank advise he's not on their "panel". We have to appoint one of the mortgage company panel conveyancing practices or keep our Haydock solicitor as well as pay for one of their panel firms to act for them. We feel that this is inequitable; are we not able to demand that the bank use our Haydock conveyancing practitioner ?
No, not really. Your mortgage offer is subject to its terms and conditions, one of which will be that lawyers will on the bank’s conveyancing panel. Until recently, most lenders had large numbers of law firms on their panels: a borrower could choose one for themselves, as long as it was on the lender's panel. The lender would then simply instruct the borrower's lawyers to act for the lender, too. You can use your lender's panel lawyers or you could borrow from another lender which does not restrict your choice. Another option that might be available is for your Haydock conveyancing lawyer to apply to be on the conveyancing panel.
My fiance and I swapping mortgage lender for our apartment in Haydock with Bank of Ireland. We have a son 19 who lives with us. Our solicitor requested us to identify any adults other than ourselves who lives in the flat. Our lawyer has now e-mailed a document for our son to sign, giving up any rights in the event that the property is repossessed. I have a couple of concerns (1) Is this document specific to the Bank of Ireland conveyancing panel as he did not need to sign this form when we bought 3 years ago (2) Does our son by signing this giving up his entitlement to inherit the property?
First, rest assured that your Bank of Ireland conveyancing panel solicitor is doing the right thing as it is established procedure for any occupier who is aged 17 or over to sign the necessary Consent Form, which is purely to state that any rights he has in the property are postponed and secondary to Bank of Ireland. This is solely used to protect Bank of Ireland if the property were re-possessed so that in such circumstances, your son would be legally obliged to leave. It does not impact your son’s right to inherit the apartment. Please note that if your son were to inherit and the mortgage in favour of Bank of Ireland had not been discharged, he would be liable to take over the loan or pay it off, but other than that, there is nothing stopping him from keeping the property in accordance with your will or the rules of intestacy.
Is there a reason why leasehold purchase conveyancing in Haydock is more expensive?
The conveyancing fees for a leasehold property in Haydock is frequently more expensive as compared to a freehold residence. This is due to the extra investigations required in liaising with the freeholder and managing agents to collate the evidence concerning whether the rent and service fee have been paid and whether there are any significant expenditure in the near future on repairs or maintenance of the block.
When it comes to mortgage companies such as Principality, do Haydock property lawyers incur a yearly amount to be on the list of approved solicitors?
We are unaware of any lender fees to register on their list of approved firms, although some do charge an administration charge to deal with the processing of the conveyancing panel submission.
How can we tell if a Haydock conveyancing solicitor on the Skipton panel is any good?
When it comes to conveyancing in Haydock seeking recommendations is a sensible start. Before you go ahead, check if they offer a no sale no fee offer. Also, you often get what you pay for - a firm which quotes more, will often provide a better service than one which is cheap as chips. We would always recommend that you speak with the lawyer carrying out your transaction.
The mortgage over my property is with Leeds Building Society for my property in Haydock. Conveyancing has been completed a year ago. In the event that I decide to rent out my property and do not currently have a buy-to-let mortgage do I need to remortgage to a BTL mortgage or inform Leeds Building Society?
Leeds Building Society must be informed of your intention prior to letting out your property as this is likely to be a breach of Leeds Building Society’s mortgage conditions. It may be that Leeds Building Society will allow you to rent out your former home without needing to switch to a buy-to-let mortgage but some lenders will add a surcharge to your mortgage rate to reflect the higher risk. You should contact Leeds Building Society directly. It should not be necessary to do this via a Leeds Building Society conveyancing panel firm.
I need to find a conveyancing solicitor for sale conveyancing in Haydock. I have discover a site which appears to be the perfect offering If it is possible to get all formalities completed via web that would be preferable. Should I be wary? What should out be looking out for?
As usual with these online conveyancers you need to read ALL the small print - did you notice the extra charge for dealing with the mortgage?
I would like to let out my leasehold apartment in Haydock. Conveyancing solicitor who did the purchase is retired - so can't ask her. Do I need to ask my freeholder for permission?
Notwithstanding that your last Haydock conveyancing lawyer is not around you can review your lease to check if it allows you to sublet the apartment. The accepted inference is that if the deeds are non-specific, subletting is allowed. There may be a precondition that you must seek permission via your landlord or other appropriate person in advance of subletting. This means you not allowed to sublet in the absence of first obtaining permission. The consent must not not be unreasonably withheld. If the lease does not allow you to sublet you should ask your landlord if they are willing to waive this restriction.
I purchased a 2 bed flat in Haydock, conveyancing formalities finalised in 2009. 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? Corresponding properties in Haydock with over 90 years remaining are worth £180,000. The ground rent is £65 levied per year. The lease terminates on 21st October 2084
With just 59 years remaining on your lease we estimate the price of your lease extension to span between £20,900 and £24,200 as well as costs.
The figure that we have given is a general guide to costs for extending a lease, but we are not able to supply the actual costs without more comprehensive investigations. You should not use this information in a Notice of Claim or as an informal offer. There are no doubt other issues that need to be considered and you obviously want to be as accurate as possible in your negotiations. Neither should you take any other action placing reliance on this information without first getting professional advice.