My best friend’s sister is a property lawyer. I hope that I can be offered friends and family fee for conveyancing, but if not, what kind of fees would I typically be looking at for conveyancing in Bradford?
It’s sensible to look for multiple conveyancing quotes. Do use our comparison tool on this page. The charges may vary but the service one can expect are distinct between conveyancers as is true with most professions.
Our conveyancer has uncovered a a legal deficiency with the lease for the apartment we are buying in Bradford. The seller’s lawyers have offered title insurance as a workaround. We are happy with insurance and will pay for it. Our solicitor says that he must check that the bank is content with this solution. Who is the client here, us or the bank?
Notwithstanding that you have a mortgage offer from the lender does not mean to say that the property will meet their specifications for the purposes of a mortgage. Your lawyer has to ensure that the lease has to comply with the UK Finance Lenders’ Handbook conditions. You and the lender are the client. These conveyancing instructions have to be complied with.
What does my ID and proof of funds have anything to do with my conveyancing in Bradford? Why is this being asked of me?
It is indeed that case that these requests have nothing to do with conveyancing in Bradford. However these days you can not complete any conveyancing transaction if you have not handing over proof of your identity. Ordinarily this takes the form of a either your passport or driving licence as well as a bank statement. Please note that if you are providing your driving licence as proof of ID it needs to be both the paper section as well as the photo card part, one is not acceptable without the other.
Evidence of your source of money is necessary under Money Laundering Regulations. Please do not be offended when you are asked to produce this as your conveyancing solicitor will need to retain this information on record. Your Bradford conveyancing solicitor will need to see evidence of proof of funds prior to accepting any funds from you into their client account and they may also ask further questions concerning the source of funds.
Are the BSA planning on creating a searchable register to list practices on the Melton Mowbray Building Society conveyancing panel for example in Bradford?
Lexsure has not been advised of any intention on the part of the BSA to promote such a register.
I'm purchasing my first flat in Bradford benefiting from help to buy. The builders would not reduce the price so I negotiated £7000 of additionals instead. The property agent advised me not inform my conveyancer about this extras as it will put at risk my mortgage with the lender. Do I keep my lawyer in the dark?.
All lenders require a Disclosure of Incentives Form from the builder 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.
I work for a busy estate agent office in Bradford where we have witnessed a number of leasehold sales jeopardised as a result of short leases. I have been given contradictory information from local Bradford conveyancing solicitors. Please can you clarify whether the owner of a flat can start the lease extension process for the buyer?
As long as the seller has owned the lease 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 need not have to wait 2 years to extend their lease. Both sets of lawyers will agree to form of assignment. The assignment has to be done prior to, or at the same time as completion of the sale.
An alternative approach is to agree the lease extension with the freeholder 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 inherited a garden flat in Bradford, conveyancing was carried out half a dozen years ago. How much will my lease extension cost? Comparable flats in Bradford with an extended lease are worth £265,000. The average or mid-range amount of ground rent is £50 invoiced every year. The lease runs out on 21st October 2098
With just 75 years remaining on your lease we estimate the price of your lease extension to be between £8,600 and £9,800 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 cannot give you the actual costs in the absence of comprehensive due diligence. You should not use the figures 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. You should not move forward based on this information without first getting professional advice.