Much to our surprise we have been informed by our broker that my Wallasey solicitor is not on the lender Solicitor panel. What can I do to be sure if this is correct?
The sensible course of action for you to take is to contact your Wallasey conveyancer. You lawyer should notify you what has happened. Where they are not on the panel they may be able to suggest a Wallasey conveyancing firm that is on the approved list of lawyers for your mortgage company.
Do the conveyancing lawyers via your comparison service handle attended exchange conveyancing in Wallasey?
We do have a number of conveyancing experts who can conduct attended exchanges. You should contact us to get a costs illustration and details as to dates.
The Wallasey conveyancing lawyers that I recently instructed on my purchase in Wallasey have suddenly closed. I only went with them because I needed a lawyer on the Kent Reliance conveyancing panel and my previous Wallasey lawyer was not. I sent them a cheque for two hundred pounds in advance. What are my options?
Assuming that you have an Estate Agent in the equation then let them know immediately so that they can let the sellers know that there may be a slight delay due to reasons beyond your control. Most sellers would be sympathetic and urge their lawyer to send a new set of papers to your new solicitors. You will need to appoint new lawyers that are on the Kent Reliance conveyancing panel and notify the lender. If you have paid over any money, it will hopefully be held by the SRA as money in an intervened firm's bank accounts is transferred to the SRA. Then, the SRA or the intervention agent looks at the intervened firm's accounts to work out who the money belongs to. To claim your money you will need to contact the SRA. If the SRA cannot return money you are owed from the firm's bank accounts, or if they can only return part of the money, you can apply to the Compensation Fund for a grant. Your new lawyers may be able to assist.
My wife and I have a semi-detached Edwardian property in Wallasey. Conveyancing practitioner acted for me and Barclays Direct. I did a free Land Registry search last week and there are a couple of entries: one for freehold, the second leasehold under the matching property. I thought I was buying a freehold how can I check?
You need to assess the Freehold register you have again and check the Charges Register for mention of a lease. The best way to be sure that you are also the registered proprietor of the leasehold and freehold title as well is to check (£3). It is not completely unheard of in Wallasey and other locations in the country and poses no real issues for owners other than when they mortgage they have to account for both freehold and leasehold interests when dealing with lenders. You can also question the position with your conveyancing solicitor who completed the work.
I am attracted to a couple of apartments in Wallasey which have about fifty years remaining on the lease term. Will this present a problem?
A lease is a right to use the property for a period of time. As the lease shortens the saleability of the lease reduces and it becomes more expensive to acquire a lease extension. This is why it is often a good idea to extend the lease term. Sometimes it is difficulties arise selling premises with a short lease because mortgage lenders may be reluctant to lend money on such properties. Lease extension can be a difficult process. We recommend you get professional help from a conveyancer and surveyor with experience in this arena.
I am the registered owner of a split level flat in Wallasey, conveyancing was carried out 4 years ago. Can you work out an approximate cost of a lease extension? Equivalent flats in Wallasey with over 90 years remaining are worth £202,000. The ground rent is £60 invoiced every year. The lease ends on 21st October 2077
With only 57 years unexpired the likely cost is going to range between £28,500 and £33,000 plus plus your own and the landlord's "reasonable" professional fees.
The figure above a general guide to costs for renewing a lease, but we are not able to provide a more accurate figure in the absence of detailed investigations. Do not use this information in tribunal or court proceedings. 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. Please do not move forward based on this information before getting professional advice.
I would be grateful if you would clarify what options are open to me if my Wallasey conveyancing searches shows negative entries?
Normally, almost all concerns arising from Wallasey conveyancing search responses can be dealt with before completion or indemnity insurance may be obtained. You need to remember that regardless of the fact that you intend on acquiring the property and might be willing to live with the search results, your lender may not, and ultimately have the final decision.