The Bromborough conveyancing firm handling our Bromborough conveyancing has discovered a discrepancy when comparing the assumptions in the valuation survey and what is revealed within the title deeds. My lawyer has advised that he is obliged to check that the bank is OK with this discrepancy and is content to go ahead. Is my solicitor’s approach legitimate?
Your property lawyer must comply with the UK Finance Lenders’ Handbook requirements which do require that your lawyer disclose any incorrect assumptions in the lender’s valuation report and the legal papers. Should you refuse to allow your lawyer to make the appropriate notification then your lawyer will have no choice but to discontinue acting for both parties.
We are expecting a mortgage offer soon. The lender mentioned the loan came with free conveyancing. Does this mean I have to appoint their panel lawyer as I would much rather instruct a local conveyancing solicitor in Bromborough?
You should check but the the probability is that allocate you one of their panel lawyers should you take up the "fee-free" offer. Call the lender to ask if they make available a monetary alternative. It is not unheard for a lender to give a £250 cashback as a further option in which case you could put that amount towards the cost for your conveyancing solicitor near Bromborough.
What tools are available to locate a Bromborough law firm on the Lloyds TSB Bank conveyancing panel? I am a keen cyclist and am happy to travel upto 20miles to meet the conveyancer.
Feel free to make use of the facility on this website. Please choose the bank and your location and you will see a number of Bromborough conveyancing lawyers based on proximity. We have detailed some Bromborough conveyancing firms at the bottom of this page and you can call them to verify whether they are on the Lloyds TSB Bank panel
We're new on the property ladder - had an offer accepted, but the estate agent told us that the owners will only move forward if we appoint their preferred solicitors as they want an ‘expedited deal’. We would rather use a family solicitor used to conveyancing in Bromborough
It is highly unlikely the sellers are driving this. Should the vendor desire ‘a quick sale', turning down a motivated purchaser is going to damage their objectives. Speak to the vendors direct and explain that (a)you are genuine buyers (b)you are ready to go, with mortgage lined up © you do not need to sell (d) you intend to proceed fast (e)however you are going to appoint your preferred Bromborough conveyancing lawyers - not the ones that will provide the estate agent a commission or achieve conveyancing targets demanded by HQ.
Last November I purchased a leasehold property in Bromborough. Am I liable to pay service charges for periods before my ownership?
In a situation where the service charge has already been demanded from the previous owner and they have not paid you would not usually be personally liable for the arrears. However, 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 be sure 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 bought a ground floor flat in Bromborough, conveyancing was carried out 5 years ago. Can you work out an approximate cost of a lease extension? Similar properties in Bromborough with over 90 years remaining are worth £180,000. The average or mid-range amount of ground rent is £65 charged once a year. The lease comes to an end on 21st October 2084
With 59 years left to run we estimate the price of your lease extension to range between £20,900 and £24,200 as well as plus your own and the landlord's "reasonable" professional fees.
The suggested premium range that we have given is a general guide to costs for renewing a lease, but we cannot give you the actual costs without more detailed due diligence. Do not use this information in a Notice of Claim or as an informal offer. There are no doubt additional issues that need to be considered 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.