My husband and I are looking to acquire a home in Hale Barns and are in fact using a Hale Barns conveyancing practice. Within the past 48 hours our lawyer has sent a preliminary report and documents to look through in anticipation of exchanging contracts shortly. Nottingham Building Society have this afternoon contacted us to inform me that there is now an issue as our Hale Barns solicitor is not on their approved list of lawyers. Is this a problem?
Where you are buying a property requiring a mortgage it is usual for the purchasers' solicitors to also act for the purchaser's lender. 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 lawyers to represent them. You don't have to instruct a firm on the lender’s conveyancing panel as you are at liberty to use your preferred Hale Barns lawyers, in which case your legal fees may increase, and it may delay matters as you are adding another lawyer into the mix.
Please could you suggest a Skipton Building Society allowed Hale Barns conveyancing practice finish our house move within a short deadline? Am I best advised to unstruct a local Hale Barns practice or a national firm?
We can recommend some very good Hale Barns conveyancing firms. Another option is to visit the main road in Hale Barns. Visit some well established firms and request to see a conveyancing solicitor for a fee estimate. Mention your expectations together with your reasons and get an assurance on speed. Select the lawyer that you trust.
Can your site be used to find a Conveyancing solicitor in Hale Barns even where I’m not purchasing or disposing of a house, for instance where I intend to buy an office in Hale Barns with a loan from Chelsea Building Society?
Our comparison service is primarily used to help choose residential conveyancing solicitors in Hale Barns but we have listed at the end of this page a few Hale Barns commercial conveyancing firms. You will need to make contact with the solicitors directly to establish if they can also act for Chelsea Building Society
I happen to be the only beneficiary of my late father’s will with all property in now in my sole name, including the my former home in Hale Barns. Conveyancing formalities meant that the Land Registry date was in August. I want to move. I understand that there is a CML 6 month 'rule', which means that my property ownership could be regarded the same way as if I'd bought the property in August. Is the property unsalable for six months?
The Council of Mortgage Lenders’ handbook mandates solicitors to: "report to us immediately if the owner or registered proprietor has been registered for less than six months." By the strict wording you could be impacted by that. How sensible a view lenders take of it, depend on the bank as this obligation is chiefly there to capture subsales or the wholesaling and assigning of properties.
I am expecting a DIP from Yorkshire BS 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 Yorkshire BS recommend any Hale Barns solicitors on the Yorkshire BS conveyancing panel, or is it better to find our own lawyer?
You will need to appoint Hale Barns solicitors independently although you'll need to choose one on the Yorkshire BS conveyancing panel. The solicitor represents both you and Yorkshire BS through the process.
I have paid off my mortgage with Yorkshire BS. I assume I don't need a Hale Barns lawyer on the Yorkshire BS panel to remove the mortgage at the Land Registry. Please confirm.
If you have finished paying off your Yorkshire BS mortgage, they may send you evidence showing that you have paid it off. Alternatively they may notify the Land Registry directly. The Land Registry need to see this evidence before they will remove the Yorkshire BS mortgage from the register. Yorkshire BS, and any evidence they send you, will determine the action you need to take. In cases where no conveyancer is acting for you and you have paid off your mortgage:
- but are not moving to another property
- where Yorkshire BS has sent the Land Registry the discharge electronically, and
- Yorkshire BS has instructed the Land Registry to do so
I am looking for a leasehold apartment up to £305k and identified one close by in Hale Barns I like with open areas and railway links nearby, however it only has 51 remaining years left on the lease. There is not much else in Hale Barns for this price, so just wondered if I would be making a mistake acquiring a lease with such few years left?
If you need a mortgage the shortness of the lease will be a potential deal breaker. Discount the price by the expected lease extension will cost if it has not already been discounted. If the existing owner has owned the property for a minimum of twenty four months you could ask them to commence the lease extension formalities and pass it to you. An additional ninety years can be extended on to the existing lease with a zero ground rent applied. You should consult your conveyancing lawyer regarding this matter.
Having had my offer accepted I require leasehold conveyancing in Hale Barns. Before I set the wheels in motion I would like to find out the unexpired term of the lease.
If the lease is recorded at the land registry - and 99.9% are in Hale Barns - then the leasehold title will always include the basic details of the lease, namely the date; the term; and the original parties. From a conveyancing perspective such details then enable any prospective buyer and lender to confirm that any lease they are looking at is the one relevant to that title. For any other purpose, such as confirming how long the term was granted for and calculating what is left, then the register should be sufficient on it's own.
I acquired a leasehold flat in Hale Barns, conveyancing was carried out half a dozen 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? Similar properties in Hale Barns with over 90 years remaining are worth £190,000. The ground rent is £65 charged once a year. The lease terminates on 21st October 2081
With just 61 years left to run the likely cost is going to range between £18,100 and £20,800 as well as plus your own and the landlord's "reasonable" 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 a more accurate figure without more comprehensive investigations. You should not use this information in a Notice of Claim or as an informal offer. There are no doubt additional concerns that need to be considered and you obviously should be as accurate as possible in your negotiations. Please do not take any other action placing reliance on this information without first seeking the advice of a professional.