My fiance’s uncle is a conveyancer. I expect that I will receive preferential fee for conveyancing, However if that does not come materialise, what level of costs would I typically be looking at for conveyancing in Liverpool?
It’s prudent to obtain 3 or more like-for-like conveyancing estimates. Make use of our comparison tool on this site. Whilst estimates seem to contrast greatly but the service one can expect differ between solicitors as is the case with most professions.
Can you clarify what the consequences are if my lawyer’s firm is removed from the Bank of Ireland Solicitor panel ahead of completing my conveyancing in Liverpool?
First, this is a very rare occurrence. In most cases even where a law firm is removed off of a panel the lender would allow the completion to go ahead as the lender would appreciate the difficulties that they would place you in if you have to instruct a new solicitor days before completion. In a worst case scenario where the lender insists that you instruct a new firm then it is possible for a very good lawyer to expedite the conveyancing albeit that you may pay a significant premium for this. The analogous situation is where a buyer instructs a lawyer, exchanges contracts and the law firm is shut down by a regulator such as the SRA. Again, in this situation you can find lawyers who can troubleshoot their way to bring the conveyancing to a satisfactory conclusion - albeit for a fee.
The deeds to our home can not be found. The lawyers who dealt with the conveyancing in Liverpool 10 years ago are no longer around. What do I do?
You no longer need to hold title official documentation to evidence that you are the registered proprietor of land or property, as the Land Registry have everything they need in a digital format.
I am buying a new build house in Liverpool with a mortgage from Santander. The developers would not reduce the price so I negotiated £7000 of additionals instead. The house builders rep told me not to tell my lawyer about this side-deal as it may put at risk my mortgage with Santander. Is this normal?.
All lenders require a Disclosure of Incentives Form from the builder of any new build, converted or renovated property, It is available online from the Lenders’ Handbook page on the CML website. CML form is completed and handed to the lender's surveyor when the inspection is done.
Lenders have different policies on incentives. Some accept none at all, cash or physical, while others will accept cash incentives up to 5%.
Hard to understand why the representative of a builder would be suggesting you withold information from a solicitor when all this will be clearly visible on forms the builder has to supply to its solicitor, the buyer's solicitor and the surveyor.
Yesterday I discovered that there is a flying freehold issue on a house I have offered on two weeks back in what should have been a quick, no chain conveyancing. Liverpool is where the house is located. Is there any guidance you can impart?
Flying freeholds in Liverpool are not the norm but are more likely to exist in relation to terraced houses. Even though you don't necessarily need a conveyancing solicitor in Liverpool you must be sure that your lawyer goes through the deeds thoroughly. Your lender may require your conveyancing solicitor to take out an indemnity policy. Some of the more diligent conveyancing solicitors in Liverpool 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've recently bought a leasehold property in Liverpool. Am I liable to pay service charges for periods before completion of my purchase?
In a situation where the service charge has already been demanded from the previous owner and they have not paid you would not usually be personally liable for the arrears. Strange as it may seem, your landlord may still be able to take action to forfeit the lease. A critical element of leasehold conveyancing for your conveyancer to ensure to have an up to date clear service charge receipt before completion of your purchase. If you have a mortgage this is likely to be a requirement of your lender.
If you purchase part way through an accounting year you may be liable for charges not yet demanded even if they relate to a period prior to your purchase. In such circumstances your conveyancer would normally arrange for the seller to set aside some money to cover their part of the period (usually called a service charge retention).
I own a leasehold flat in Liverpool, conveyancing having been completed half a dozen years ago. Can you let me have an estimated range of the fair premium for a lease extension? Corresponding properties in Liverpool with over 90 years remaining are worth £171,000. The average or mid-range amount of ground rent is £50 levied per year. The lease expires on 21st October 2101
With just 79 years left to run the likely cost is going to be between £8,600 and £9,800 as well as costs.
The suggested premium range above a general guide to costs for renewing a lease, but we are not able to provide the actual costs in the absence of comprehensive investigations. Do not use this information in a Notice of Claim or as an informal offer. There may be additional concerns that need to be taken into account and clearly you want to be as accurate as possible in your negotiations. Neither should you take any other action based on this information without first getting professional advice.