Me and my partner are due to complete buying a property in Holyhead but as a result of wreckage from the recent storms I have managed to agree compensation from the current proprietors in the sum of £2k in the form of a deduction in the price. I had intended this to be addressed as part of amending the contract but Virgin Money will not permit this. Why were they notified?
Any property lawyer being on a Virgin Money conveyancing panel is obliged to advise Virgin Money of any changes to the purchase price. If you prohibit your lawyer to report the price change to Virgin Money then they would have to discontinue acting for you. In addition, Virgin Money and you would have to appoint a new lawyer for your conveyancing in Holyhead.
I am purchasing a garden flat in Holyhead. How practical is it for me to do the conveyancing?
Leaving aside the complexities and merits of DIY conveyancing in Holyhead you will have to appoint a solicitor on your mortgage company's conveyancing panel to look after their interests. Most people therefore find it easier to let the solicitor act for them and the lender. Furthermore there is minimal cost savings to be made in you doing conveyancing for yourself and another lawyer conducting the conveyancing for the lender. Please feel free to use the search tool to find a lawyer on your lender panel in Holyhead.
After much negotiation I have agreed a price on a house in Holyhead. My mortgage broker recommended their conveyancers. I paid an upfront payment of £150. Not long after, the property lawyer contacted me sheepishly admitting that they were not on the Bank of Ireland conveyancing panel. Am I right in thinking that I should be due a refund?
You should be able to recover this from the law firm if they were not on the Bank of Ireland panel. They should have asked at the outset which lender you were obtaining a mortgage with. An important lesson to readers of this site is to check that the lawyers are on the appropriate lender panel.
I am selling my apartment. I had a double glazing fitted in March 2006, but did not receive a FENSA certificate or Building Regulation Certificate. My purchaser’s mortgage company, Virgin Money are being problematic. The Holyhead solicitor who is on the Virgin Money conveyancing panel is saying indemnity insurance will be fine but Virgin Money are requiring a building regulation certificate. Why do Virgin Money have a conveyancing panel if they don't accept advice from them?
It is probably the case that Virgin Money have referred the matter to their valuer. The reason why Virgin Money may not want to accept indemnity insurance is because it does not give them any reassurance that the double glazing was correctly and safely installed. The indemnity insurance merely protects against enforcement action which is very unlikely anyway.
About to purchase flat in Holyhead. 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 Virgin Money 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 Holyhead property lawyer is on the Virgin Money conveyancing panel.
I need to retain a conveyancing solicitor for purchase conveyancing in Holyhead. I've chance upon a web site which seems to have the perfect answer If there is a chance to get all formalities completed via email that would be preferable. Do I need to be concerned? What are the potential pitfalls?
As usual with these online conveyancers you need to read ALL the small print - did you notice the extra charge for dealing with the mortgage?
Last July I purchased a leasehold property in Holyhead. 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 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 invested in buying a 1 bedroom flat in Holyhead, conveyancing was carried out in 2012. Can you let me have an estimated range of the fair premium for a lease extension? Corresponding flats in Holyhead with a long lease are worth £211,000. The ground rent is £45 yearly. The lease expires on 21st October 2091
With just 67 years remaining on your lease we estimate the price of your lease extension to be between £10,500 and £12,000 as well as professional fees.
The suggested premium range that we have given is a general guide to costs for renewing a lease, but we are not able to provide the actual costs in the absence of comprehensive investigations. Do not use the figures in a Notice of Claim or as an informal offer. There may be additional issues that need to be considered and you obviously should be as accurate as possible in your negotiations. You should not take any other action based on this information without first getting professional advice.