I am considering mortgaging my property in Whitefield, does my lawyer have to be on the HSBC Conveyancing panel?
In theory, you could use a solicitor that is not on the HSBC conveyancing panel, but HSBC would require one of their panel solicitors to be instructed to act in their interests, and you'd have to pay for this - so most people instruct a panel solicitor. It's also easier, as otherwise you'd have to deal with two solicitors for the same transaction.
Can you point me to a directory of HSBC panel solicitors in Whitefield on the UK Finance Lenders’ Handbook Website?
No. There is no such directory service on the Council of Mortgage Lenders or Building Society Association sites. Very few banks make their panel listings visible over the internet. If you are seeking to appoint a Whitefield conveyancer on the HSBC please use our facility.
I had a mortgage agreed in principle with Barclays. Whitefield conveyancing lawyers are instructed. What is the average time that one could expect to receive a mortgage offer from Barclays?
There is no definitive answer here. Have Barclays done the valuation? Have you informed Barclays as to your lawyers' details and checked that your lawyers are on the Barclays conveyancing panel? Sometimes it can take as long as six weeks for a mortgage offer to be issued.
Santander have agreed my mortgage in principle, my offer on a apartment in Whitefield has been accepted, now what?
The property agent will wish to know who your solicitors are (ensure that the property lawyers are on the bank’s approved list). Telephone Santander or the financial adviser and finalise any appropriate documentation. Santander will appoint a valuer who will get in contact with the selling agent or owners to book an appointment. Once carried out (assuming no problems) it takes on average a week for the mortgage offer to be issued. Santander will issue the offer to you and your property lawyers. The legal work will then take it’s course according the nature and complexity of the conveyancing in Whitefield.
Yesterday I discovered that there is a flying freehold issue on a house I put an offer in two weeks back in what was supposed to be a straight forward, no chain conveyancing. Whitefield is the location of the property. What do you suggest?
Flying freeholds in Whitefield are rare but are more likely to exist in relation to terraced houses. Even where you use a solicitor outside Whitefield you must be sure that your lawyer goes through the deeds very carefully. Your lender may require your conveyancing solicitor to take out an indemnity policy. Some of the more diligent conveyancing solicitors in Whitefield 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.
We are 17 days into a leasehold purchase having been directed to a firm by the selling agent to carry out the conveyancing in Whitefield. I am not happy. Can you help me find new lawyers?
A conveyancer would have to be really bad in order to consider replacing them. Has the mortgage offer been issued? If so you will need to make them aware of the new contact details and ensure the mortgage documents are re-issued. The conveyancer needs to be on the lenders approved list to avoid escalating charges and delays. So that should be your starting point. The search tool will help you find a bank approved lawyer for your conveyancing in Whitefield
I am in need of some leasehold conveyancing in Whitefield. Before diving in I want to be sure as to the unexpired term of the lease.
If the lease is recorded at the land registry - and almost all are in Whitefield - then the leasehold title will always include the short particulars 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.
I acquired a leasehold flat in Whitefield, conveyancing was carried out half a dozen years ago. Can you let me have an estimated range of the fair premium for a lease extension? Corresponding flats in Whitefield with a long lease are worth £192,000. The average or mid-range amount of ground rent is £55 yearly. The lease ends on 21st October 2075
With 54 years left to run we estimate the price of your lease extension to be between £32,300 and £37,400 plus professional fees.
The figure above a general guide to costs for extending a lease, but we are not able to supply a more accurate figure in the absence of detailed due diligence. Do not use the figures in a Notice of Claim or as an informal offer. There are no doubt other concerns that need to be considered and clearly you should be as accurate as possible in your negotiations. You should not move forward placing reliance on this information before getting professional advice.
Two months into purchasing a house in Whitefield. Conveyancing solicitor has told us the title is "Leasehold". Does this make a difference on the marketability of the house?
Whitefield conveyancing does not ordinarily involve leasehold houses. The key consideration here is the length of lease and the ground rent. If there are hundred of years years remaining with a nominal rent, it's almost the same as freehold, so it shouldn't impact the saleability significantly.
At the other extreme, if it's, say, 50 years it will have a material effect on the saleability, and most likely wouldn't be mortgageable. The length of lease and ground rent will be specified in the lease which should be made available to your property lawyer.