We're in Bradford, FTBs purchasing with a mortgage (lender is Kent Reliance , and our lawyer is on the Kent Reliance conveyancing panel). How long should the conveyancing process take?
The fact that your lawyer is on the Kent Reliance conveyancing panel is a help. It would almost certainly delay matters if they were not. However, no conveyancer should guarantee a timeframe for your conveyancing, due to third parties outside of your control such as delays caused by lenders,conveyancing search providers or by the other side’s solicitors. The time taken is often determined by the number of parties in a chain.
Do I find a Licenced Conveyancer or Solicitor for conveyancing in Bradford?
There are many registered licenced Conveyancers in Bradford and Solicitor partnerships in Bradford offering conveyancing It is important to make clear that both are regulated professionals specialising in the legal work in the home buying process. The two can conduct other property legal work such as remortgage conveyancing, lease extensions and transfer of equity conveyancing.
I am buying a property in Bradford. A rare aspect is that the roof has a solar panel. Skipton have issued a mortgage offer so presumably this is not a concern to them. Why is my solicitor raising questions about the panel?
Given that you are obtaining a mortgage with Skipton your lawyer must comply with the conveyancing instructions outlined in Part two of UK Finance Lenders’ Handbook for Skipton. The CML Handbook stipulates minimum requirements for solar panel roof-space leases, and conveyancers are required to report to Skipton where a lease fails to comply with these conditions. The conditions relate to the installation of panels on properties in England and Wales and is not isolated to Bradford.
Clydesdale have agreed my home loan in principle, my offer on a property in Bradford has been accepted, what happens next?
The property agent will need to be advised as to your conveyancing practitioner's details (make sure the conveyancing practitioners are on the bank’s panel). Call up Clydesdale or the financial adviser and finalise any outstanding forms. Clydesdale will appoint a valuer who will get in contact with the estate agent or seller to arrange a time for the valuation to take place. Once conducted (assuming no problems) it takes approximately a week for the mortgage offer to be issued. Clydesdale will send the offer to you and your lawyers. The transaction will then take it’s course according the nature and complexity of the conveyancing in Bradford.
What does a local search tell me regarding the house we're buying in Bradford?
Bradford conveyancing often starts with the applying for local authority searches directly from your local Authority or via a personal search organisations for example Searches UK The local search plays an important part in many a Bradford conveyancing purchase; that is if you wish to avoid any unpleasant once you have moved into your property. The search will provide data on, amongst other things, details on planning applications relevant to the property (whether granted or refused), building control history, any enforcement action, restrictions on permitted development, nearby road schemes, contaminated land and radon gas; in all a total of 13 subject areas.
I am purchasing my first flat in Bradford with a loan from Halifax. The sellers refused to budge the amount so I negotiated 6k of extras instead. The house builders rep advised me not inform my solicitor about the deal as it will affect my mortgage with the lender. Do I keep my lawyer in the dark?.
All lenders require a Disclosure of Incentives Form from the developer of any new build, converted or renovated property, It is available online from the Lenders’ Handbook page on the CML website. CML form is completed and handed to the lender's surveyor when the inspection is done.
Lenders have different policies on incentives. Some accept none at all, cash or physical, while others will accept cash incentives up to 5%.
Hard to understand why the representative of a builder would be suggesting you withold information from a solicitor when all this will be clearly visible on forms the builder has to supply to its solicitor, the buyer's solicitor and the surveyor.
Am I best advised to instruct a Bradford conveyancing solicitor based in the area that I am hoping to buy? We have a good friend who can conduct the conveyancing however his firm is located 400miles away.
The benefit of a high street Bradford conveyancing firm is that you can attend the office to execute paperwork, hand in your identification documents and pester them where appropriate. Having local Bradford know how is a benefit. That being said nothing is more important than finding someone that will do a good and efficient job. If other friends have used your friend and on the whole were impressed that must trump using an unknown Bradford conveyancing solicitor just because they are round the corner.
I am employed by a busy estate agency in Bradford where we see a few flat sales put at risk as a result of short leases. I have received contradictory information from local Bradford conveyancing firms. Could you confirm whether the vendor of a flat can start the lease extension process for the buyer?
Provided that the seller has been the owner for at least 2 years it is possible, to serve a Section 42 notice to commence the lease extension process and assign the benefit of the notice to the purchaser. The benefit of this is that the proposed purchaser can avoid having to wait 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 sale.
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.
I bought a garden flat in Bradford, conveyancing formalities finalised in 2010. Can you please calculate a probable premium for a statutory lease extension? Comparable properties in Bradford with a long lease are worth £265,000. The average or mid-range amount of ground rent is £50 per annum. The lease ends on 21st October 2101
You have 76 years remaining on your lease the likely cost is going to range between £8,600 and £9,800 plus costs.
The figure that we have given is a general guide to costs for renewing a lease, but we cannot give you a more accurate figure in the absence of comprehensive due diligence. Do not use this information in a Notice of Claim or as an informal offer. There may be other concerns that need to be considered and clearly you want to be as accurate as possible in your negotiations. You should not take any other action placing reliance on this information before getting professional advice.