Forgive me if this question is silly but I am new to the home buying as FTB of a two bedroom flat in Halewood. Do I pick up the keys to the house on the completion date from my conveyancer? If this is the case, I will find a local conveyancing solicitor in Halewood?
On the day of completion you do not need to attend the conveyancers office in Halewood. Your solicitors will arrange to send the completion advance to the vendor’s lawyers, and once they have received this, you will be invited to pick up the keys from the Estate Agents and move into your new home. Usually this occurs between 1 and 3pm.
I have today made my last payment due on my mortgage with HSBC. I assume I don't need a Halewood lawyer on the HSBC panel to discharge the mortgage at the Land Registry. Am I right?
If you have finished paying off your HSBC mortgage, they may send you evidence showing that you have paid it off. Alternatively they may notify the Land Registry directly. The Land Registry need to see this evidence before they will remove the HSBC mortgage from the register. HSBC, and any evidence they send you, will determine the action you need to take. In cases where no conveyancer is acting for you and you have paid off your mortgage:
- but are not moving to another property
- where HSBC has sent the Land Registry the discharge electronically, and
- HSBC has instructed the Land Registry to do so
I can not fathom if my mortgage offer requires a lease extension. I have called my Halewood building society branch on a couple of occasions and was reassured it wasn't a problem and they would lend. My Halewood conveyancing solicitor - who is on the lender conveyancing panel- called and was told they would not lend in accordance with their UK Finance Lenders’ Handbook minimum lease term requirements. Who do I believe?
As long as the property lawyer is on the mortgage company panel, they must adhere to the Council of Mortgage Lenders’ Handbook specifications for the bank. Unless your lawyer obtains specific confirmation in writing that the lender 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.
I've recently found out that there is a flying freehold issue on a house I have offered on two weeks back in what should have been a straight forward, chain free conveyancing. Halewood is where the house is located. Can you shed any light on this issue?
Flying freeholds in Halewood are not the norm but are more likely to exist in relation to terraced houses. Even though you don't necessarily need a conveyancing solicitor in Halewood 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 Halewood 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 premises.
My husband and I are new on the property ladder - agreed a price, but the agent advised that the seller will only proceed if we instruct their recommended lawyers as they need an ‘expedited deal’. Our preferred option is to instruct a family solicitor accustomed to conveyancing in Halewood
It is improbable the owners are driving this. If they desire ‘a quick sale', taking such a hostile approach to a genuine buyer is not the way to achieve this. Avoid the agents and go straight to the sellers and make sure they understand (a)you are motivated purchasers (b)you are excited to move forward, with finances in place © you do not need to sell (d) you intend to proceed fast (e)but you will continue to instruct your preferred Halewood conveyancing firm - not the ones that will provide the negotiator at the agency a referral fee or hit his conveyancing figures set by HQ.
In relation to leasehold conveyancing in Halewood what are the most common lease problems?
Leasehold conveyancing in Halewood is not unique. Most leases are drafted differently and legal mistakes in the legal wording can sometimes mean that certain sections are wrong. For example, if your lease is missing any of the following, it could be defective:
A provision to repair to or maintain parts of the premises Insurance obligations
You could encounter a problem when selling your property if you have a defective lease primarily because it impacts on the ability to obtain a mortgage on the property. Lloyds TSB Bank, Barnsley Building Society, and Aldermore all have very detailed requirements when it comes to what is expected in a lease. If a mortgage lender believes that the lease is problematic they may refuse to provide security, forcing the buyer to pull out.
Halewood Leasehold Conveyancing - Examples of Queries before buying
Is anyone aware of any major works in the planning that will likely add a premium to the maintenance costs? This question is helpful as a) areas may result in problems in the block as the communal areas may start to deteriorate if services remain unpaid b) if the tenants have a dispute with the running of the building you will need to know about it
My wife and I have instructed a Halewood conveyancing solicitor for our house purchase (FTB’s) and have picked up in the engagement letter that they are not governed by the Financial Conduct Authority. Should I be concerned or is that standard with lawyer?
We can't see why they should be. Most lawyer don't lend money. They will be governed by the Solicitors Regulation Authority, who have specific stipulations covering monies sitting on client account.