We wanted to use a conveyancing solicitor in Fulwood and Elston for our house purchase. Our financial adviser informed us that our bank Platform Home Loans Ltd won't deal with them. Why is this not regarded as unfair competition?

Lenders on the whole restrict either the type or the number of conveyancing practices on their approved list of lawyers. Typical examples of such criteria being that a law practice must have two or more partners. As well as restricting the profile of firm, a few banks have limited the number of solicitor practices they permit to act for them. You should note that Platform Home Loans Ltd have no responsibility for the quality of advice provided by any member of Platform Home Loans Ltd Conveyancer Panel. Mortgage fraud was a key driver in the rationalisation of conveyancing panels since 2008 even though there remains differing opinions regarding the level of solicitor involvement in some of that fraud. Statistics from the Land Registry indicate that thousands of law firms, including some in or near Fulwood and Elston only perform one or two conveyances a year.

I bought my apartment on 1 January and my personal details are still not on the land registry website. Any reason for this? My conveyancing solicitor in Fulwood and Elston expressed confidence that it would be registered inside ten days. Are transfers in Fulwood and Elston uniquely lengthy to register?

There is nothing unique when it comes to conveyancing in Fulwood and Elston registration formalities. As opposed to being determined by geographic area, timescales can differ depending on who lodges the application, whether it is in order and if the Land registry must send notices to any other persons or bodies. As of today in the region of 80% of submission are completed within 12 days but occasionally there can be protracted hold-ups. Registration is effected once the purchaser has moved in to the premises so 'speed' is not typically top priority but if it is urgent that the the registration takes place urgently then you or your lawyers can communicate with the Registry to express the reasoning for the application to be prioritised.

I'm purchasing a new build house in Fulwood and Elston benefiting from help to buy. The sellers would not reduce the price so I negotiated five thousand pounds worth of additionals instead. The sale representative advised me not disclose to my solicitor about the side-deal as it will adversely affect my loan with the lender. Is this normal?.

All lenders require a Disclosure of Incentives Form from the developer of any new build, converted or renovated property, It is available online from the Lenders’ Handbook page on the CML website. CML form is completed and handed to the lender's surveyor when the inspection is done.

Lenders have different policies on incentives. Some accept none at all, cash or physical, while others will accept cash incentives up to 5%.

Hard to understand why the representative of a builder would be suggesting you withold information from a solicitor when all this will be clearly visible on forms the builder has to supply to its solicitor, the buyer's solicitor and the surveyor.

I am tempted by the attractive purchase price for a two maisonettes in Fulwood and Elston both have in the region of 50 years left on the leases. should I be concerned?

There is no doubt about it. A leasehold flat in Fulwood and Elston is a wasting asset as a result of the shortening lease. The nearer the lease gets to zero years unexpired, the more it adversely affects the marketability of the property. The majority of purchasers and mortgage companies, leases with less than 75 years become less and less marketable. On a more positive note, leaseholders can extend their leases by serving a Section 42 Notice. One stipulation is that they must have owned the property for two years (unlike a Section 13 notice for purchasing the freehold, when leaseholders can participate from day one of ownership). When successful, they will have the right to an extension of 90 years to the current term and ground rent is effectively reduced to zero. Before moving forward with a purchase of a residence with a short lease term remaining you should talk to a solicitor specialising in lease extensions and leasehold enfranchisement. We are are happy to put you in touch with Fulwood and Elston conveyancing experts who will explain the options available to you during an initial telephone conversation free of charge. More often than not it is possible to negotiate informally with the freeholder to extend the lease. They may agree to a smaller lump sum and an increase in the ground rent, but to shorter extension terms in return. You need to ensure that any new terms represent good long-term value compared with the standard benefits of the Section 42 Notice and that onerous clauses are not inserted into any redrafting of the lease.

Fulwood and Elston Conveyancing for Leasehold Flats - Examples of Queries before Purchasing

Be sure to discover if there are any onerous restrictions in the lease. For example some leases prohibit pets being permitted in in a block in Fulwood and Elston. If you love the apartmentin Fulwood and Elston yet your cat can’t move with you then you have a very difficult determination. What is the maintenance charge and ground rent on the flat? How many of the leaseholders are in arrears for their maintenance charge payments?

My mum and dad cant seem to find their Fulwood and Elston land registry title on the online search facility. They recall that back in the 70’s when they acquired the house there were complications regarding the post code not being identified on some systems.

The vast majority of properties in Fulwood and Elston should be revealed. Have you limited your search with just the postcode. Normally it should mention all the houses and flats within the postcode. Assuming the property is recorded it will be there with a title number. If they bought 48 years ago it's conceivable it may be unregistered. The address might still be revealed but with the title number identified as 'na'. In this scenario you will need to find the original title papers which could be with your parent’s mortgage company.