My husband and I are planning to purchase a house in Saltney and have instructed a Saltney conveyancing firm. Within the last couple of days our solicitor has forwarded the sale agreement to be signed with a detailed report with a view to exchanging next week. Clydesdale have this evening contacted us to advise us that they have now hit a problem as our Saltney conveyancer is not on their approved list of lawyers. What do we do from here?
When purchasing a property with mortgage finance it is usual for the purchasers' solicitors to also represent the purchaser's lender. In order to act for a bank or building society a law firm has to be on that lender's conveyancing panel. An application has to be made by the law firm to the lender to become a member of the lender's panel and there are increasingly strict criteria which the firm has to satisfy and indeed some lenders now require their panel members to be part of the Law Society’s Conveyancing Accreditation Scheme. Your property lawyer should contact your mortgage company and see if they can apply for membership of their conveyancing panel, but if that is not viable they will instruct their own solicitors to act. You don't have to instruct a firm on the lender’s conveyancing panel and you may continue to use your own Saltney solicitors, in which case it will likely add costs, and it may delay matters as you are adding another lawyer into the mix.
Are the BSA planning on creating a search tool with a view to to identify practices on the Norwich and Peterborough Building Society conveyancing panel for instance in Saltney?
We have not been informed any intention on the part of the BSA to promote such a register.
Yesterday I discovered that there is a flying freehold element on a house I have offered on two weeks back in what should have been a quick, chain free conveyancing. Saltney is the location of the property. Can you shed any light on this issue?
Flying freeholds in Saltney are rare but are more likely to exist in relation to terraced houses. Even though you don't necessarily need a conveyancing solicitor in Saltney you would need to get your solicitor to go through the deeds diligently. Your lender may require your conveyancing solicitor to take out an indemnity policy. Some of the more diligent conveyancing solicitors in Saltney may decide 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.
We're FTB’s - had an offer accepted, yet the estate agent informed us that the owners will only issue a contract if we instruct their recommended lawyers as they want an ‘expedited deal’. My instinct tells me that we should use a local solicitor with experience of conveyancing in Saltney
It is improbable the sellers are driving this. If they want ‘a quick sale', taking such a hostile approach to a motivated buyer is counter productive. Bypass the agents and go straight to the owners and make the point that (a)you are genuine buyers (b)you are ready to progress, with finances in place © you do not need to sell (d) you intend to proceed fast (e)but you intend to use your preferred Saltney conveyancing lawyers - not the ones that will give their estate agent a referral fee or hit his conveyancing thresholds pre-set by corporate headquarters.
I have just started marketing my 2 bed apartment in Saltney. Conveyancing is yet to be initiated, however I have recently had a quarterly maintenance charge invoice – what should I do?
Your conveyancing lawyer is likely to suggest that you should clear the invoice as usual given that all ground rent and maintenance invoices will be allotted on completion, so you will be reimbursed by the buyer for the period running from after the completion date to the next payment date. Most management companies will not acknowledge the buyer until the service charges have been paid and are up to date, so it is important for both buyer and seller for the seller to show that they are up to date. Having a clear account will assist your cause and will leave you no worse off financially.
I bought a 1 bedroom flat in Saltney, conveyancing having been completed half a dozen years ago. How much will my lease extension cost? Similar properties in Saltney with over 90 years remaining are worth £195,000. The ground rent is £45 levied per year. The lease runs out on 21st October 2085
With 63 years remaining on your lease we estimate the premium for your lease extension to span between £16,200 and £18,600 plus plus your own and the landlord's "reasonable" professional fees.
The figure that we have given is a general guide to costs for extending a lease, but we cannot give you the actual costs without more comprehensive investigations. Do not use the figures in tribunal or court proceedings. There may be other concerns that need to be taken into account and clearly you want to 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.