My wife and I are hoping to purchase a home in Goole and have instructed a Goole conveyancing practice. Within the last couple of days our property lawyer has sent a preliminary report and documents to look through in anticipation of exchanging contracts shortly. Chelsea Building Society have this evening contacted us to advise us that they have now hit a problem as our Goole conveyancer is not on their approved list of lawyers. Please explain?
If you are buying a property requiring a mortgage it is conventional for the purchasers' solicitors to also represent the mortgage company. In order to act for a bank or building society a law firm has to be on that lender's conveyancing panel. An application has to be made by the law firm to the lender to become a member of the lender's panel and there are increasingly strict criteria which the firm has to satisfy and indeed some lenders now require their panel members to be part of the Law Society’s Conveyancing Accreditation Scheme. Your property lawyer should contact your lender and see if they can apply for membership of their conveyancing panel, but if that is not viable they will instruct their own solicitors to act. You don't have to instruct a firm on the bank's conveyancing panel as you are at liberty to use your preferred Goole lawyers, in which case your legal fees may increase, and it may delay matters as you have another set of people involved.
Do the conveyancing solicitors identified through your search tool handle auction conveyancing in Goole?
We know of a few auction lawyers we can connect you with those who can conduct auction conveyancing. Goole is just one of our areas of where our lawyers have a presence.
is it true that all Goole solicitors on the Skipton conveyancing panel are governed by the SRA?
As a firm of solicitors, in order to be on the Skipton conveyancing panel they would need to be governed by the Solicitors Regulatory Authority. The majority of banks do list licenced conveyancers on their panel and in that case the firms would be regulated by the Council of Licensed Conveyancers.
We had appointed conveyancing lawyers locally in Goole on the Lloyds solicitor panel. They are now charging me a supplemental charge for the legal aspects of the Lloyds mortgage. Is this a supplemental conveyancing fee specified by Lloyds?
Unfortunately, as long as it is in their Terms of Engagement or estimate then yes your solicitor is entitled to levy a fee for this. The charge is not set by Lloyds but by your Goole lawyer. Plenty of firms on the Lloyds panel will charge an ‘acting for lender’ fee and others do not.
We were going to get a OIP from HSBC this week so we know how much we could potentially offer as otherwise we are dependent on web based calculators (which aren't taking into account credit checks etc). Do HSBC recommend any Goole solicitors on the HSBC conveyancing panel, or is it better to find our own lawyer?
You will need to appoint Goole solicitors independently although you'll need to choose one on the HSBC conveyancing panel. The solicitor represents both you and HSBC through the process.
It has been 3 months following my purchase conveyancing in Goole concluded. I have checked the Land Registry website which shows that I paid £175,000 when infact I paid £160,000. Why the discrepancy?
The price paid figure is taken from the application to register the purchase. It is the figure included in the Transfer (the legal deed which transfers the residence from one person to the other) and referred to as the 'consideration' or purchase price. You can report an error in the price paid figure using the LR online form. In most cases errors result from typos so at first glance the figure. Do report it so they can double check and advise.
My wife and I purchased a leasehold flat in Goole. Conveyancing and Barnsley Building Society mortgage went though with no issue. I have received a letter from someone claiming to own the reversionary interest in the property. It included a demand for arrears of ground rent dating back to 1992. The conveyancing practitioner in Goole who acted for me is not around. Any advice?
The first thing you should do is contact the Land Registry to be sure that this person is indeed the new freeholder. There is no need to instruct a Goole conveyancing lawyer to do this as it can be done on-line for less than a fiver. Rest assured that regardless, even if this is the legitimate freeholder, under the Limitation Act 1980 no more than 6 years of rent can be collected.
I invested in buying a basement flat in Goole, conveyancing formalities finalised 6 years ago. Can you let me have an estimate of the premium that my landlord can legally expect in return for granting a renewal of my lease? Equivalent properties in Goole with over 90 years remaining are worth £175,000. The average or mid-range amount of ground rent is £65 yearly. The lease expires on 21st October 2079
You have 58 years remaining on your lease the likely cost is going to be between £23,800 and £27,400 as well as legals.
The figure that we have given is a general guide to costs for extending a lease, but we cannot give you a more accurate figure without more detailed due diligence. Do not use this information in tribunal or court proceedings. There may be additional issues that need to be considered and clearly you want to be as accurate as possible in your negotiations. Neither should you take any other action placing reliance on this information before seeking the advice of a professional.
My fiance and I have just had an offer agreed on a apartment and had an appointment on Friday with HSBC for the mortgage. They advised us that when it comes to selecting a conveyancing practitioner that if they are not on their approved list of conveyancing practitioners then we will incur a further fee of £250+. This is because they will then have to select a property lawyer to act for them in addition to the one we choose to act on our behalf and we assume responsibility for their fees. I have asked HSBC to supply me with a list so I can seek estimates only from their approved solicitors but was told that I need to check with each individual lawyer to see if they are on the panel. Is their an easier way of going about this?
You can enquire of HSBC what their panel criteria is for a conveyancer.Then ask the conveyancer of your choice whether they meet the criteria and have they acted on loans for HSBC previously. Where the answer to those is yes, then just double check with HSBC. Alternatively please use our search tool and we may be able to find you a solicitor in Goole on the approved list for HSBC.