I have just been advised by my broker that my Whitehaven property lawyer is not on the mortgage company Conveyancing panel. How can I be sure if this is correct?
Your first step should be to contact your Whitehaven lawyer directly. It is reasonable to expect your lawyer to notify you of the situation. Where they are not on the panel they could put your in touch with solicitors on the approved list of lawyers for your lender.
My Whitehaven lawyer has spotted a discrepancy when comparing the information in the home valuation report and what is revealed within the title deeds. My lawyer has advised that he must check that the bank is OK with this discrepancy and is still content to lend. Is my solicitor’s course or action appropriate?
Your lawyer must comply with the UK Finance Lenders’ Handbook specifications which do require that your lawyer disclose any incorrect assumptions in the lender’s valuation report and the legal papers. Should you refuse to allow your lawyer to make the appropriate notification then your lawyer will have no choice but to discontinue acting for both parties.
I have justfound out that Stirling Law have been shut down. They conducted my conveyancing in Whitehaven for a purchase of a leasehold flat 10 months ago. How can I be sure that the property is not still registered in the name of the former proprietor?
The quickest method to check if the property is in your name, you can carry out a search of the land registry (£3.00). You can either do this yourself or ask a law firm to do this for you. If you are not registered you can seek help from one of a number of Whitehaven conveyancing specialists.
I've recently found out 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 quick, chain free conveyancing. Whitehaven is the location of the property. Can you shed any light on this issue?
Flying freeholds in Whitehaven are unusual but are more likely to exist in relation to terraced houses. Even where you use a solicitor outside Whitehaven you would need to get your solicitor to go through the deeds thoroughly. Your mortgage company may require your conveyancing solicitor to take out an indemnity policy. Some of the more diligent conveyancing solicitors in Whitehaven 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 residence.
Having checked my lease I have discovered that there are only Fifty years unexpired on my lease in Whitehaven. I now want to get lease extension but my freeholder is can not be found. What are my options?
If you meet the appropriate requirements, under the Leasehold Reform, Housing and Urban Development Act 1993 you can apply to the County Court for an order to dispense with the service of the initial notice. This will enable the lease to be lengthened by the Court. However, you will be required to prove that you or your lawyers have done all that could be expected to locate the landlord. In some cases an enquiry agent would be useful to try and locate and to produce an expert document which can be accepted by the court as evidence that the freeholder can not be located. It is advisable to get professional help from a solicitor both on investigating the landlord’s disappearance and the application to the County Court overseeing Whitehaven.
I purchased a 1st floor flat in Whitehaven, conveyancing having been completed in 2010. Can you shed any light on how much the price could be for a 90 year extension to my lease? Equivalent properties in Whitehaven with over 90 years remaining are worth £260,000. The average or mid-range amount of ground rent is £45 charged once a year. The lease runs out on 21st October 2098
With 74 years left to run we estimate the price of your lease extension to be between £8,600 and £9,800 plus professional fees.
The figure above a general guide to costs for renewing a lease, but we are not able to provide the actual costs without more comprehensive due diligence. Do not use this information in tribunal or court proceedings. There may be other issues that need to be considered and clearly you should be as accurate as possible in your negotiations. Neither should you move forward based on this information without first seeking the advice of a professional.
We are in the middle of buying a property in Whitehaven. Conveyancing solicitor has told us the property is "Leasehold". Will this likely make a difference on our HSBC valuation?
Whitehaven conveyancing does not in most situations involve leasehold houses. The crucial factor 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 too much.
At the other end of the spectrum, if it's, say, Sixty years it is bound to have a significant effect on the value, and most likely wouldn't be acceptable to the mortgage company. The length of lease and ground rent will be stated in the lease provided to your lawyer.