I am hoping to receive a mortgage with Lloyds. I hope to instruct a Licensed Conveyancer in Harrogate. Does the Lloyds Conveyancing panel include conveyancers regulated by the CLC?
The Lloyds approved solicitor list is, like many other lenders, represented by the CML or Building Society Association, open to Licensed Conveyancers regulated by the CLC.
Our conveyancer has discovered a defect with the lease for the property we are buying in Harrogate. The seller’s lawyers have suggested defective title insurance as a workaround. We are happy with insurance and will pay for it. Our property lawyer has advised that he must ensure that the bank is happy with this solution. Who is the client here, us or the bank?
The short answer to your last question is that, notwithstanding the potential for a conflict of interest, you and the bank are the client. Your lawyer must comply with the UK Finance Lenders’ Handbook specifications. 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 property lawyer will have no choice but to discontinue acting for you.
What does my ID and proof of funds have anything to do with my conveyancing in Harrogate? Is this really warranted?
Anti-terror and anti-money-laundering rules require solicitors and licensed conveyancers to verify the identification documents of the potential client they are dealing with before they can accept their conveyancing retainer. The Client Care letter that you need to sign should confirm this. Your lender will also require certain documents to be viewed. Where you are unwilling to provide identification documents, your conveyancer can not take you on as a client.
Our bank has recommended solicitors on their panel based in Harrogate but I would rather use a conveyancing lawyer in Harrogate local to me. Can you help?
It is by no means the case that all Harrogate conveyancing practices are on all banks conveyancing panel. Please make use of our find an approved solicitor tool to choose a Harrogate conveyancing solicitor on the on the bank panel.
I have been told that property searches are the primary reason for obstruction in Harrogate conveyancing transactions. Is there any truth in this?
The Council of Property Search Organisations (CoPSO) has noted the determinations of research by MoveWithUs that conveyancing searches do not figure amongst the top 10 causes of delays in the conveyancing process. Searches are unlikely to feature in any slowing down conveyancing in Harrogate.
What advice can you give us when it comes to finding a Harrogate conveyancing firm to carry out our lease extension conveyancing?
When appointing a solicitor for your lease extension (regardless if they are a Harrogate conveyancing firm) it is imperative that he or she should be familiar with the legislation and specialises in this area of conveyancing. We suggest that you talk with several firms including non Harrogate conveyancing practices before you instructing a firm. If the firm is ALEP accredited then so much the better. The following questions might be helpful:
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What are the charges for lease extension conveyancing? How experienced is the firm with lease extension legislation?
I inherited a studio flat in Harrogate, conveyancing having been completed half a dozen years ago. Can you give me give me an indication of the likely cost of a lease extension? Similar flats in Harrogate with an extended lease are worth £176,000. The average or mid-range amount of ground rent is £50 invoiced every year. The lease expires on 21st October 2105
With only 80 years left to run the likely cost is going to range between £8,600 and £9,800 as well as plus your own and the landlord's "reasonable" professional fees.
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 the figures in tribunal or court proceedings. There are no doubt other concerns that need to be considered and you obviously want to be as accurate as possible in your negotiations. Please do not move forward based on this information before seeking the advice of a professional.