My solicitor has identified a defect with the lease for the flat we are purchasing in Barnsley. The other side have offered title insurance as a solution. We are happy with insurance and will cover the costs. Our conveyancer says that he must ensure that the lender is happy with this solution. Who is the client here, us or the lender?
The short answer to your last question is that, notwithstanding the risk of a conflict of interest, you and the mortgage company are the client. Your solicitor must comply with the UK Finance Lenders’ Handbook conditions. The UK Finance Lenders’ Handbook conditions require your lawyer to disclose issues such as defects with the lease so that the lender can be afforded the opportunity to check with their valuer as to the extent that the value of the property is affected. Should you refuse to allow your lawyer to make the appropriate notification then your conveyancer will have no choice but to discontinue acting for you.
Do lenders provide you with an approved list of Barnsley conveyancing solicitors? How do you know who is on the TSB conveyancing panel?
Barnsley conveyancing firms themselves provide us confirmation that they are on the TSB conveyancing panel as opposed to being supplied with a list from TSB directly.
Me and my partner are purchasing a apartment in Barnsley. It might be a silly question but how we can trust a conveyancer? On completion day we have to deposit money into their account. What is the protection we have from them run away with our deposit?
Be assured that all money in a Solicitors client account is 100% safe, and even if your Solicitor ran off with it, the Law Society would reimburse you fully.
Completion of my purchase has taken place for my property in Barnsley. Conveyancing was of an acceptable standard but I feel I should register my dissatisfaction about the lender. How does one go about formally complaining?
All lenders have complaints procedures. Your first port of call should be one of the lender’s branches or the Customer Services Team at head office. We understand that complaints to a lender are sorted out very quickly. If you feel the matter is not resolved you can write to Financial Ombudsman Service with full details of your complaint.
At last I have had an offer on a flat in Barnsley agreed to, but there is a chain. The sellers have put an offer on on an apartment, however it’s not yet tied up, and are looking at other apartments in the pipeline. I have instructed a bricks and mortar conveyancing solicitor in Barnsley. What do I do now? When should I get the mortgage application with Principality started?
It is understandable to have apprehensions where there is a chain as you are unlikely to want to incur expenses too early (home loan application is approx one thousand pounds, then valuation, Barnsley conveyancing search fees, etc). The first course of action is to ensure that your property lawyer is on the Principality conveyancing panel. As to the subsequent stages this very much dictated by the specifics of your case, attraction to this property and on the state of the market. During a hot market many buyers would apply for a home loan with Principality and pay for the valuation and only if it comes back ok would they pay their conveyancer to move forward with the conveyancing in Barnsley.
I used Wolstenholmes several years past for my conveyancing in Barnsley. I now require my papers however the law firm has closed. What do I do?
Do contact the Solicitors Regulatory Authority (SRA) to help locate your conveyancing files. They can be contacted on please contact on 0870 606 2555. Alternatively, you should use their online form to make an enquiry. You will need to provide the SRA with as much information as possible to assist their search, including the name and address in Barnsley of the conveyancing firm of solicitors you previously instructed, the name of conveyancing solicitor with whom you had dealings, and the date on which you last had dealings with the firm.
Do I need to be concerned that estate agents that I am dealing with are recommending an online conveyancing firm rather than a local Barnsley conveyancing firm?
As with many professional services, often referrals from relatives can be worth their weight in gold. Yet there are numerous players in a conveyancing matter; estate agents, mortgage brokers and mortgage companies might all recommend solicitors to select. On occasion these solicitors might be known to one of the organisations as being good in their field, but sometimes there exists a commercial relationship behind the recommendation. You have the discretion to appoint your own lawyer. You need to be aware that many mortgage providers specify a panel list of law firms you are obliged to use for the lender related work in your transaction.
Back In 2005, I bought a leasehold flat in Barnsley. Conveyancing and Alliance & Leicester mortgage are in place. I have received a letter from someone saying they have taken over the freehold. It included a ground rent demand for rent dating back to 1997. The conveyancing solicitor in Barnsley who acted for me is not around. Do I pay?
The first thing you should do is make enquiries of the Land Registry to make sure that the individual claiming to own the freehold is indeed the new freeholder. It is not necessary to incur the fees of a Barnsley conveyancing solicitor to do this as you can do this on the Land Registry website for less than a fiver. You should note that in any event, even if this is the rightful freeholder, under the Limitation Act 1980 the limitation period for recovery of ground rent is six years.
I own a studio flat in Barnsley, conveyancing was carried out March 1997. Can you work out an approximate cost of a lease extension? Comparable properties in Barnsley with over 90 years remaining are worth £222,000. The average or mid-range amount of ground rent is £50 per annum. The lease expires on 21st October 2095
You have 70 years unexpired the likely cost is going to be between £9,500 and £11,000 as well as plus your own and the landlord's "reasonable" professional fees.
The figure above a general guide to costs for renewing a lease, but we are not able to provide the actual costs in the absence of detailed investigations. You should not use the figures in a Notice of Claim or as an informal offer. There are no doubt additional concerns that need to be considered and clearly you should be as accurate as possible in your negotiations. You should not take any other action placing reliance on this information without first seeking the advice of a professional.