I am purchasing a maisonette in Widnes. My property lawyer has never been on on the bank approved list. Can I still continue with my Widnes conveyancing solicitor even though they are excluded from the lender panel?
You will need to instruct a solicitor to complete the legal work required if you need a loan to purchase your property. The property lawyer will carry out all the appropriate legal checks on the property, make sure that you’re properly registered as the owner and ensure that all the necessary mortgage documentation is dealt with. One may instruct a Widnes property lawyer of your choosing. However, if the solicitor selected is not on the bank approved list further charges will be incurred as separate legal representation will be need by the lender. Bank panel applications can be submitted, so provided your conveyancer has not in the past sought membership they should do so.
My Widnes solicitor has uncovered an inconsistency between the assumptions in the valuation survey and what is in the legal papers for the property. My lawyer says that he must ensure that the bank is OK with this discrepancy and is still content to lend. Is my solicitor’s approach correct?
Your conveyancing practitioner must comply with the UK Finance Lenders’ Handbook requirements 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 you.
My brother-in-law has suggested I instruct a conveyancing solicitor in Widnes. I I am struggling to find out if they are on the Accord Mortgages Ltd conveyancing panel. Could you assist?
The first thing to do is contact your lawyer and ask them whether they can act for the lender. Otherwise please call Accord Mortgages Ltd who may be able to help.
A friend informed me that in purchasing a property in Widnes there could be a number of restrictions prohibiting external alterations to the property. Is this right?
There are a number of properties in Widnes which have some sort of restriction or requirement of consent to external variations. Part of the conveyancing in Widnes should determine what restrictions are applicable and advising you as part of a ROT that should be sent to you.
It is not clear whether my mortgage offer requires a lease extension. I have called my Widnes bank branch on various occasions and was told it does not affect the mortgage offer and they will lend. My Widnes conveyancing solicitor - who is on the lender conveyancing panel- called to say that they will not lend based on their specific requirements. I simply don't know who is right.
The lawyer must comply with the Council of Mortgage Lenders’ Handbook Part 2 specifications for your 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 remaining.
Nottingham have agreed my mortgage in principle, my offer on a house in Widnes has been accepted, what happens next?
Your property agent will need to be informed of your conveyancer's details (ensure that the conveyancing practitioners are on the lender’s approved list). Telephone Nottingham or your financial adviser and finalise any relevant documentation. Nottingham will sellect a valuer who will get in touch with the estate agent or seller to schedule an appointment. Once conducted (assuming no problems) it takes about a fortnight for the mortgage offer to be issued. Nottingham will issue the offer to you and your conveyancers. The transaction will then take it’s course according the nature and complexity of the conveyancing in Widnes.
What does commercial conveyancing in Widnes cover?
Commercial conveyancing in Widnes covers a wide range of advice, given by regulated solicitors, relating to business property. For example, this area of conveyancing can cover the sale or purchase of freehold business premises or, more commonly, the assignment of existing leases or the drafting of new leasing arrangements. Commercial conveyancing solicitors can also offer advice on the sale of business assets, commercial mortgages and the termination of leases.
My wife and I purchased a leasehold flat in Widnes. Conveyancing and Chelsea Building Society mortgage are in place. A letter has just been received from someone claiming to own the freehold. Attached was a demand for arrears of ground rent dating back to 1998. The conveyancing practitioner in Widnes who previously acted has long since retired. Do I pay?
First make enquiries of the Land Registry to be sure that the individual claiming to own the freehold is in fact the new freeholder. There is no need to incur the fees of a Widnes conveyancing practitioner to do this as it can be done on-line for less than a fiver. Rest assured that regardless, even if this is the rightful freeholder, under the Limitation Act 1980 the limitation period for recovery of ground rent is six years.
I bought a ground floor flat in Widnes, conveyancing was carried out half a dozen years ago. Can you work out an approximate cost of a lease extension? Similar flats in Widnes with an extended lease are worth £185,000. The ground rent is £65 invoiced every year. The lease expires on 21st October 2083
You have 61 years remaining on your lease we estimate the premium for your lease extension to be between £18,100 and £20,800 plus legals.
The suggested premium range that we have given is a general guide to costs for extending a lease, but we are not able to advice on a more accurate figure in the absence of comprehensive due diligence. You should not use this information in a Notice of Claim or as an informal offer. There may be additional issues that need to be considered and you obviously want to be as accurate as possible in your negotiations. You should not take any other action based on this information before seeking the advice of a professional.