I am only a couple days away from an exchange on a flat in Liverpool and my parents have sent the ten percent deposit to my lawyer. I am now informed that as the deposit has not arrived from me my lawyer needs to make a notification to my lender. Apparently, in also acting for the lender he must inform them that the balance of the purchase price is not just from me. I advised the lender about my parents' contribution when I applied for the mortgage, so is it really appropriate for him to raise this?
The property lawyer is duty bound to clarify with the bank to make sure that they are aware that the balance of the purchase price is not from your own resources. Your solicitor can only reveal this to your bank if you permit them to, failing which, your lawyer must cease to continue acting.
I purchased a freehold property in Liverpool but nevertheless charged rent, why is this and what is this?
It is rare for properties in Liverpool and has limited impact for conveyancing in Liverpool but some freehold properties in England (particularly common in North West England) pay an annual sum known as a Chief Rent or a Rentcharge to a third party who has no other legal interest in the land.
Rentcharge payments are usually between £2.00 and £5.00 per year. Rentcharges have existed for hundreds of years, but the Rent Charge Act 1977 barred the establishment of fresh rentcharges post 1977.
Old rentcharges can now be extinguished by making a one off payment under the Act. Any rentcharges that are still in existence in 2037 will be extinguished.
We are selling our house in Liverpool. Will the lawyer have to be on the UBS conveyancing panel in order to deal with the discharge of my mortgage?
Ordinarily, even if your lawyer is not on the UBS conveyancing panel they can still act for you on your sale. It might be that the lender will not release the original deeds (if applicable and increasingly irrelevant) until after the mortgage is paid off. You should speak to your lawyer directly before you start the process though to ensure that there is no problem as lenders are changing their specifications fairly frequently at the moment.
If you had a top tip for selecting a conveyancing solicitor in Liverpool what would it be?
Do not opt for the cheapest Liverpool conveyancing quote. You really do get what you pay for when it comes to property lawyers. A cheap quote may mean that the conveyancing solicitor is handling a lot of jobs at one time and you won’t get the quality of service and the attention that you need. It is, however, wise to use a conveyancer who has a fixed fee on a no sale, no fee basis. This way, you go into the conveyancing with your eyes wide open.
Can you help - my lawyer advises that chancel insurance is required on my purchase. What is the typical level of cover needed for conveyancing in Liverpool?
The appropriate level of chancel indemnity insurance depends on your lender. It would differ for example between Santander and Norwich and Peterborough Building Society. Conveyancing practitioners as opposed to borrowers take out such policies.
I have a mortgage with Leeds Building Society for my property in Liverpool. Conveyancing was finalised some time ago. If I am intending to rent out the flat 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 before renting 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 permit you to let 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 solicitor.
What does commercial conveyancing in Liverpool cover?
Non domestic conveyancing in Liverpool covers a broad range of guidance, supplied by regulated solicitors, relating to business premises. For example, this type of conveyancing can cover the sale or purchase of freehold business premises or, more usually, the assignment of existing business tenancies or the drafting of new leasing arrangements. Commercial conveyancing solicitors can also offer advice on the sale of business assets, commercial loans and the termination of tenancies.
A licensed conveyancer dealt with my conveyancing in Liverpool half a dozen years ago having retained my title documents but has now closed – What can I do to get hold of them?
Title deeds, as such, no longer exist as the majority of homes in Liverpool are recorded electronically at Land Registry. Where you need to establish ownership or are disposing of or re-mortgaging your solicitor will need to obtain up to date copies of the register from the Land Registry in any case.
If you feel there may be other documents or you have any other queries please e-mail your request with details of the transaction and documents you need to firstname.lastname@example.org. The CLC will let you know what information they have and any additional information they may need before they are in a position to identify and send the documents to you. Following an intervention it may take some time for the CLC to access archived files and documents, but your request will be actioned with reasonable haste.