Finally the sale completed on my house in Prenton last August but our buyer keeps SMS messaging me to moan that their lawyer is waiting to hear from mylawyer. What are the post completion sale legalities now that I have sold?
Post completion of your sale your solicitor is obliged to forward the transfer deeds and all additional paperwork to the purchaser's solicitors. Where appropriate, your solicitor must also send confirmation that the mortgage has been discharged to the purchasers solicitors. There are no post completion formalities just for conveyancing in Prenton.
Are all Prenton Conveyancing Quality Solicitors on the Virgin Money conveyancing panel?
Some major banks and building societies now make use of the accreditation scheme as the kick off point for Panel approval such as HSBC and Santander. CQS accreditation however is no guarantee to lender panel acceptance. That being said,the CML have indicated that it is likely to become a pre-requisite for firms wishing to join their approved list of firms.
We expect to receive a OIP from Yorkshire BS this week so we know how much we could potentially offer as otherwise we only have online calculators to go by (which aren't taking into account credit checks etc). Do Yorkshire BS recommend any Prenton solicitors on the Yorkshire BS conveyancing panel, or is it better to find our own lawyer?
You will need to appoint Prenton solicitors independently although you'll need to choose one on the Yorkshire BS conveyancing panel. The solicitor represents both you and Yorkshire BS through the process.
I have today made my last payment due on my mortgage with Bank of Ireland. I assume I don't need a Prenton solicitor on the Bank of Ireland panel to remove the mortgage at the Land Registry. Please confirm.
If you have finished paying off your Bank of Ireland 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 Bank of Ireland mortgage from the register. Bank of Ireland, 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 Bank of Ireland has sent the Land Registry the discharge electronically, and
- Bank of Ireland has instructed the Land Registry to do so
I am looking for a conveyancing practitioner in Prenton for my house move. Is it possible to review a solicitor's record with the legal regulator?
One may find presented Solicitor Regulator Association (SRA) decisions stemming from inquisitions from 2008 onwards. Go to Check a solicitor's record. For details Pre 2008, or to check a firm's record, call 0870 606 2555, 08.00 - 18.00 any week day save for Tuesday when lines open at 9.30am. For callers outside the UK, use +44 (0)121 329 6800. The SRA sometimes recorded telephone calls for training reasons.
I am looking at a couple of maisonettes in Prenton which have in the region of fifty years unexpired on the lease term. Will this present a problem?
There is no doubt about it. A leasehold apartment in Prenton 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 salability of the property. The majority of purchasers and lenders, leases with less than eighty years become less and less attractive. 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 premises 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 Prenton conveyancing experts who will explain the options available to you during an initial telephone conversation free of charge. A more straightforward and quicker method of extending would be to contact your landlord directly and sound him out on the prospect of extending the lease. You may find he or she is happy to negotiate informally and willing to consider your offer straight off, without having to involve anyone else. This will save you time and money and it could help you reach a lower price on the lease. You need to ensure that the agreed 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.
I purchased a basement flat in Prenton, conveyancing formalities finalised December 2002. Can you please calculate a probable premium for a statutory lease extension? Comparable properties in Prenton with an extended lease are worth £211,000. The ground rent is £50 yearly. The lease comes to an end on 21st October 2093
You have 68 years left to run we estimate the premium for your lease extension to span between £9,500 and £11,000 plus professional fees.
The figure that we have given is a general guide to costs for renewing a lease, but we are not able to provide the actual costs without more comprehensive investigations. Do not use this information in a Notice of Claim or as an informal offer. There may be other concerns that need to be considered and clearly you want to be as accurate as possible in your negotiations. Please do not take any other action based on this information without first seeking the advice of a professional.
My conveyancing in Prenton is completing next Friday, yet the person I am purchasing from has asked to vacate on the Saturday PM. Should I agree to this?
You can't complete on a Saturday because the bank systems are not operating.