My Solicitor in Walton Merseyside is not on the Bank of Scotland Solicitor Panel. Is it possible for me to retain my prefered solicitor even though they are excluded from the Bank of Scotland panel of approved conveyancing solicitors?
Your options are as follows:
- Complete the purchase with your existing Walton Merseyside solicitors but Bank of Scotland will need to retain a conveyancer on their list of acceptable firms. This will result in additional overall conveyancing charges and result in delays.
- Choose a new solicitor to to deal with the conveyancing, obviously checking they are Bank of Scotland approved.
- Try to convince your Bank of Scotland solicitor to try to join the Bank of Scotland panel
I am buying a new build flat in Walton Merseyside. Conveyancing is necessary evil at the best of times but I have never purchased a new build flat before. What sort of enquires would be asked in new build legal work.
Here is a sample of a few leasehold new build enquiries that you should expect your new-build leasehold conveyancing in Walton Merseyside
Investor purchasers must be able to freely grant unsecured tenancies at market rents without requiring any consents. The Landlord must covenant to assume the management if the Management Company goes into liquidation or otherwise defaults in running the management scheme. Has the Lease plan been approved by the Land Registry and if not when will they be lodged for this purpose? Will control of the Management Company (if any) be handed over to purchasers on completion of the last sale or earlier? Please supply evidence that the form of Lease proposed has been approved by the Land Registry.
I opted to have a survey carried out on a house in Walton Merseyside in advance of instructing lawyers. I have been advised that there is a flying freehold overhang to the property. Our surveyor advised that some lenders tend refuse to give a loan on this type of home.
It varies from the lender to lender. HSBC has different requirements from Nationwide. Should you wish to call us we can investigate further with the appropriate mortgage company. If you lender is happy to lend one our lawyers can help as they are used to dealing with flying freeholds in Walton Merseyside. Conveyancing may be slightly more expensive based on your lender's requirements.
I work for a busy estate agent office in Walton Merseyside where we have experienced a number of leasehold sales derailed as a result of leases having less than 80 years remaining. I have been given conflicting advice from local Walton Merseyside conveyancing firms. Please can you clarify whether the seller of a flat can instigate the lease extension formalities for the buyer?
Provided that the seller has owned the lease for at least 2 years it is possible, to serve a Section 42 notice to start the lease extension process and assign the benefit of the notice to the purchaser. The benefit of this is that the buyer can avoid having to sit tight for 2 years for a lease extension. Both sets of lawyers will agree to form of assignment. The assignment needs to be completed before, or simultaneously with completion of the disposal of the property.
An alternative approach is to extend the lease informally by agreement with the landlord either before or after the sale. If you are informally negotiating there are no rules and so you cannot insist on the landlord agreeing to grant an extension or transferring the benefit of an agreement to the purchaser.
Walton Merseyside Conveyancing for Leasehold Flats - Sample of Queries Prior to buying
Does the lease have onerous restrictions? The prefered form of lease structure is where the freehold title is owned by the leaseholders. In this scenario the leaseholders have being in charge if their destiny and even though a managing agent is often employed if the building is bigger than a house conversion, the managing agent retained by the leaseholders. Are any of leasehold owners in arrears of their service charge liability?
I happen to be an executor of my recently deceased parent's Will, with a house in Walton Merseyside which will be sold. The house is unregistered at HMLR and I'm told that many EAs will insist that it is completed before they will proceed. What's the mechanism for this?
In the situation you refer to it seems advisable to seek to register in the names of the personal representative(s) as named in the probate and in their capacity as PRs. HMLR’s online guidance explains how to register for the first time and what is required re the deeds and forms. You would need to include and certified copy of the probate as well and complete the form FR1 to refer to the PRs as the applicant.