I am purchasing a flat in Lytham St Annes. My Conveyancer has never been on on the lender solicitor panel. Is it possible for me to appoint my Lytham St Annes conveyancing solicitor notwithstanding that they are excluded from the lender list of approved lawyers?
Various options include
- Complete the purchase with your existing Lytham St Annes conveyancing practitioner but your bank will no doubt use a conveyancing practitioner from their approved list. This will result in additional charges and likely interruption.
- Get a new solicitor to act in the purchase, making sure they are on the mortgage company conveyancing panel.
- Convince your lawyer to do everything within their powers to get listed on the lender’s conveyancing panel
We are only a couple days away from an exchange on a house in Lytham St Annes and my mum and dad have transferred the exchange deposit to my solicitor. I am now advised that as the deposit has been sent from someone other than me my conveyancer needs to make a notification to my lender. Apparently, in also acting for the bank he must advise them that the balance of the purchase price is not just from me. I advised the lender concerning my parents' contribution when I applied for the home loan, so is it really necessary for this now to delay the deal?
Your solicitor is duty bound to check with mortgage company to ensure that they understand that the balance of the purchase price is not from your own funds. The solicitor can only notify this to your bank if you agree, failing which, your lawyer must cease to continue acting.
When it comes to mortgage companies such as Principality, do Lytham St Annes lawyers face a yearly amount to be on the list of approved solicitors?
We are unaware of any bank fees to register on their list of approved firms, although some do levy an administration charge to deal with the processing of the conveyancing panel submission.
I can not work out if my mortgage offer obliges me to make sure the lease term for the flat is extended prior to the completion date. I have called into my local Lytham St Annes bank branch on numerous occasions and was reassured it wasn't a problem and they will lend. My Lytham St Annes conveyancing solicitor - who is on the bank conveyancing panel- called and was told they refuse to lend in accordance with their published requirements. Who do I believe?
Provided that the solicitor is on the lender approved list, she or he must comply with the Council of Mortgage Lenders’ Handbook specifications for the bank. Unless your lawyer obtains specific confirmation in writing that the mortgage company will go ahead, your lawyer has no choice but to refrain from exchanging contract and committing you to the purchase. We would suggest that you ask the lender to contact your lawyer in writing confirming that they will accept the number of years left on the lease.
I am selling my flat. I had a double glazing fitted in February 2010, but did not receive a FENSA certificate or Building Regulation Certificate. My purchaser’s lender, Nationwide are being difficult. The Lytham St Annes solicitor who is on the Nationwide conveyancing panel is saying indemnity insurance will be fine but Nationwide are insisting on a building regulation certificate. Why do Nationwide have a conveyancing panel if they don't accept advice from them?
It is probably the case that Nationwide have referred the matter to their valuer. The reason why Nationwide may not want to accept indemnity insurance is because it does not give them any reassurance that the double glazing was correctly and safely installed. The indemnity insurance merely protects against enforcement action which is very unlikely anyway.
I've recently found out that there is a flying freehold element on a property I put an offer in last month in what should have been a straight forward, chain free conveyancing. Lytham St Annes is the location of the property. Can you shed any light on this issue?
Flying freeholds in Lytham St Annes are rare but are more likely to exist in relation to terraced houses. Even though you don't necessarily need a conveyancing solicitor in Lytham St Annes you would need to get your solicitor to go through the deeds very carefully. Your mortgage company may require your conveyancing solicitor to take out an indemnity policy. Some of the more diligent conveyancing solicitors in Lytham St Annes may ascertain 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 property.
I own a leasehold flat in Lytham St Annes. Conveyancing and Skipton Building Society mortgage went though with no issue. I have received a letter from someone saying they have taken over the freehold. Attached was a ground rent demand for rent dating back to 1994. The conveyancing solicitor in Lytham St Annes who acted for me is not around. Any advice?
First contact HMLR to be sure that the individual purporting to own the freehold is in fact the registered owner of the freehold reversion. There is no need to instruct a Lytham St Annes conveyancing practitioner to do this as you can do this on the Land Registry website for less than a fiver. You should note that in any event, even if this is the rightful landlord, under the Limitation Act 1980 no more than 6 years of rent can be collected.
I inherited a ground floor flat in Lytham St Annes, conveyancing formalities finalised in 2006. Can you let me have an estimated range of the fair premium for a lease extension? Corresponding properties in Lytham St Annes with over 90 years remaining are worth £201,000. The ground rent is £45 levied per year. The lease finishes on 21st October 2089
You have 65 years remaining on your lease we estimate the price of your lease extension to range between £13,300 and £15,400 as well as professional fees.
The figure above a general guide to costs for renewing a lease, but we are not able to supply the actual costs without more detailed investigations. You should not use this information in tribunal or court proceedings. There are no doubt other concerns 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.
Developers have recommended to me a lawyer and I've received an estimate from them. It's almost £400 cheaper than my family Lytham St Annes conveyancer. Should I use them?
Housebuilders normally have panels of property lawyers who are quick and who know the developer’s contract and property lawyer. As many developers offer an incentive to use a preferred conveyancing practitioner for this reason, any increased cost can be avoided and a developer won't recommend a conveyancing warehouse and run the risk of having the transaction delayed when they require an exchange within a tight time frame. A counter-argument for not opting for the suggested solicitor is that they may prove unwilling to 'push' your interests at the risk of upsetting the sellers. If you worry that this may be the situation you should keep with your high street Lytham St Annes conveyancing practitioner.