My financial adviser has requested my Holywell solicitor’s panel reference for the Lloyds conveyancing panel. Can you suggest how I discover this. I have called my local Holywell branch but they cant find it on their system.
The sensible thing to do is ask for this information from your Holywell conveyancer . Most Holywell law firms will keep a file or database of lender panel information which would include, if applicable, their conveyancing panel details for each mortgage company.
My fiance and I intend to remortgage our apartment in Holywell with Skipton. We have a son approaching twenty who lives with us. Our solicitor has asked us to disclose anyone over the age of 17 other than ourselves who lives in the flat. The solicitor has now sent a form for our son to sign, waiving any legal rights in the event that the apartment is forfeited by the lender. I have a couple of concerns (1) Is this document specific to the Skipton conveyancing panel as he never had to sign this form when we purchased 3 years ago (2) Does our son by signing this extinguish his entitlement to inherit the property?
On the face of it your lawyer has done nothing wrong 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 Skipton. This is solely used to protect Skipton 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 Skipton 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.
Last month we had a mortgage agreed in principle with Yorkshire BS. Holywell conveyancing lawyers are chosen. What is the average time that one could expect to receive a mortgage offer from Yorkshire BS?
Some lenders take longer than others. Have Yorkshire BS done the survey? Have you advised Yorkshire BS as to your lawyers' details and checked that your lawyers are on the Yorkshire BS conveyancing panel? It is not unusual for a mortgage offer to take a month to come through.
Completion of my remortgage has taken place for my property in Holywell. Conveyancing was satisfactory but I would like to complain about the lender. How does one go about formally complaining?
Almost all banks and building societies have complaints procedures. Your first port of call should be one of the lender’s branches or the Customer Care Team at head office. In most cases complaints to a lender are sorted out effectively and efficiently. If you feel the matter is not resolved you can write to Financial Ombudsman Service, South Quay Plaza, 183 Marsh Wall, London E14 9SR with full details of your complaint.
HSBC have agreed my home loan in principle, my bid on a apartment in Holywell has been accepted, what are the next steps?
The estate agent will wish to be informed of your solicitor's details (ensure that the lawyers are on the lender’s approved list). Contact HSBC or the financial adviser and finalise any outstanding documentation. HSBC will sellect a valuer who will get in touch with the estate agent or owners to arrange a slot for the valuation to occur. Once conducted (assuming no problems) it takes on average ten days for the mortgage offer to be issued. HSBC will send the offer to you and your solicitors. The transaction will then take it’s course according the nature and complexity of the conveyancing in Holywell.
Over the last few months I have been searching for a ground for flat up to £235,500 and found one round the corner in Holywell I like with open areas and transport links in the vicinity, the downside is that it's only got 61 remaining years left on the lease. I can't really find anything else in Holywell for this price, so just wondered if I would be making a grave error buying a lease with such few years left?
If you need a mortgage the shortness of the lease may be problematic. Discount the offer by the amount the lease extension will cost if not already taken into account. If the current owner has owned the premises for at least 2 years you could request that they start the process of the extension and then assign it to you. You can add 90 years to the current lease term with a zero ground rent applied. You should consult your conveyancing solicitor about this matter.
I am on look out for some leasehold conveyancing in Holywell. Before diving in I require certainty as to the unexpired term of the lease.
Assuming the lease is registered - and almost all are in Holywell - then the leasehold title will always include the basic details of the lease, namely the date; the term; and the original parties. From a conveyancing perspective such details then enable any prospective buyer and lender to confirm that any lease they are looking at is the one relevant to that title. For any other purpose, such as confirming how long the term was granted for and calculating what is left, then the register should be sufficient on it's own.
Holywell Leasehold Conveyancing - A selection of Questions you should ask Prior to buying
Generally speaking the outlay for major works tend not to be included within service charges, although a few managing agents in Holywell obliged leaseholders to pay into a reserve fund and this is used to offset against major works. How is the lease structured? How many of the leaseholders are in arrears for their service charge payments?
We yesterday become aware that one of the partners of the conveyancing practice undertaking the purchase conveyancing in Holywell is an uncle of the vendor. Is this acceptable?
As long as no conflict arises this should be fine. If you are obtaining mortgage finance then the lender may have a say as many mortgage companies have specific instructions concerning this. For example for Virgin as of 16/5/2023, the requirements read as follows :