Can you help? My Wellington conveyancer is informing me me that he is legally obliged toapply for Wellington conveyancing searches asthe firm are on the HSBCsolicitor panel. Do I not have any say here?
Unfortunately both you and your lawyer have little choice here. Given that you are taking out a loan with a mortgage company your lawyer has to comply with their conditions as set out in their version of the CML Conveyancing Handbook. Your lawyer would have previously signed the Terms and Conditions of your bank’s conveyancing panel appointment which obliges them to follow the CML Handbook specifications . Even if you were a cash buyer you would be ill advised not to carry out Wellington conveyancing searches.
Why do I have to pay up front for conveyancing in Wellington?
If you are buying a property in Wellington your lawyer will request that you to provide them with funds to cover the search fees. This will be the total of the cost of the conveyancing searches. If any deposit is as part of the total price then this should be required shortly in advance of exchange of contracts. Any further balance that is needed should be transferred a couple of days prior to the completion date.
My uncle pointed out to me me that in buying a property in Wellington there may be a number of restrictions preventing external changes to a property. Is this right?
We are aware of a number of properties in Wellington which have some sort of restriction or requirement of consent to perform external alterations. Part of the conveyancing in Wellington should determine what restrictions are applicable and advising you as part of a ROT that should be sent to you.
It is unclear whether my lender requires a lease extension. I have telephoned my Wellington building society branch on a couple of occasions and was told it does not impact the mortgage offer and they will lend. My Wellington conveyancing solicitor - who is on the bank conveyancing panel- called to say that they will not lend in accordance with their UK Finance Lenders’ Handbook minimum lease term requirements. I have no idea who is right.
Provided that the conveyancer is on the lender approved list, she or he must adhere to the CML Handbook conditions 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 mortgage company to contact your lawyer in writing confirming that they will accept the number of years remaining.
Intending to buy a apartment in Wellington. I have received an online quote from a licenced conveyancer, which states: "There will be no charge for dealing with the Lender if you are obtaining a mortgage". I take this to mean that there will be no additional fee if the solicitor is on the Coventry BS conveyancing panel. I wanted to make sure it means there will be no additional fees for dealing with the mortgage.
They are simply saying that the cost for acting for the lender is included in the fee being quoted. It is worth you checking that the Wellington solicitor is on the Coventry BS conveyancing panel.
I have recentlyfound out that Arc property Solicitors have been shut down. They carried out my conveyancing in Wellington for a purchase of a leasehold apartment 10 months ago. How can I check that my home is in my name in the name of the former proprietor?
The easiest method to check if the premises is registered to you, you can make a search of the land registry (£3.00). You can either do this yourself or ask a law firm to do this for you. If you are not registered you can seek help from one of a number of Wellington conveyancing specialists.
Last April I purchased a leasehold property in Wellington. Am I liable to pay service charges for periods before completion of my purchase?
Where the service charge has already been demanded from the previous lessee and they have not paid you would not usually be personally liable for the arrears. Strange as it may seem, your landlord may still be able to take action to forfeit the lease. It is an essential part of leasehold conveyancing for your conveyancer to ensure to have an up to date clear service charge receipt before completion of your purchase. If you have a mortgage this is likely to be a requirement of your lender.
If you purchase part way through an accounting year you may be liable for charges not yet demanded even if they relate to a period prior to your purchase. In such circumstances your conveyancer would normally arrange for the seller to set aside some money to cover their part of the period (usually called a service charge retention).
I inherited a ground floor flat in Wellington, conveyancing having been completed 7 years ago. Can you work out an approximate cost of a lease extension? Similar flats in Wellington with an extended lease are worth £216,000. The average or mid-range amount of ground rent is £50 invoiced annually. The lease comes to an end on 21st October 2094
You have 69 years left to run we estimate the premium for your lease extension to span between £9,500 and £11,000 as well as legals.
The figure above a general guide to costs for extending a lease, but we are not able to advice on the actual costs in the absence of comprehensive due diligence. Do not use the figures in a Notice of Claim or as an informal offer. There are no doubt other issues that need to be considered and clearly you want to be as accurate as possible in your negotiations. You should not move forward based on this information before getting professional advice.