I am one month into the sale of my maisonette in Haslingden and the estate agent has just telephoned to advise that the buyers are swapping property lawyer. I am told that this is due to the fact that the lender will only deal with property lawyers on their conveyancing panel. Why would a big named mortgage company only deal with certain lawyers rather the firm that they want to select for their conveyancing in Haslingden ?
Mortgage companies have always had panels of law firms they are content to work with, but in recent years big names such as Yorkshire Building Society, have considered and reduced their conveyancing panel– in some cases removing conveyancing firms who have worked with them for decades.
Lenders point to the increase in fraud as the reason for the reduction – criteria have been stiffened as a smaller panel is easier to monitor. Banks tend not to disclose how many solicitors have been dropped, claiming the information is commercially sensitive, but the Law Society says it is hearing daily from firms that have been removed from panels. Plenty of firms do not even realise they have been dropped until contacted by a borrower who has instructed them as might be the situation in your buyers' case. Your purchasers are unlikely to have any impact on this.
Do the conveyancing practitioners that you recommend carry out right to buy conveyancing in Haslingden?
We work with plenty of conveyancing practitioners who can handle right to buy transactions You should e-mail the conveyancers listed in order to obtain a costs illustration.
I am considering applying for a Kent Reliance mortgage for purchase of a new build (under development) in Haslingden with 65 per cent LTV. Is it compulsory to choose a solicitor on the conveyancing panel for Kent Reliance ?
There is nothing to stop you using your solicitor, but Kent Reliance will insist on their interests being represented by a firm on their conveyancing panel. There is greater potential for delays and confusion with two solicitors involved, and it will undoubtedly be more expensive too.
My relative recommended that where I am purchasing in Haslingden I should carry out a Neighbourhood, Planning and Local Amenity Search. What does it cover?
This is a search is sometimes quoted for as part of the standard Haslingden conveyancing searches. It is a large document of about 40 pages, listing and setting out significant information about Haslingden around the property and the people living there. It includes an Aerial Photograph, Planning Applications, Land Use, Mobile Phone Masts, Rights of Way, the Haslingden Housing Market, Council Tax Banding, the demographics of People living in the area, the dominant type of Housing, the Average House Prices, Crime details, Haslingden Education with plans and statistics, Local Amenities and other useful data concerning Haslingden.
Just acquired a detached house in Haslingden , how long should it take for the Land Registry to deal with the formalities evidencing my ownership? My Haslingden conveyancing solicitor has been very slow, so I want to be certain that my ownership is recorded.
As far as conveyancing in Haslingden is concerned, registration is no quicker or slower than anywhere else in England and Wales. Rather than based on location, timeframes can adjust according to who lodges the application, whether there are errors and whether the Land registry communicate with any interested parties. As of today roughly three quarters of such applications are completed within 12 days but occasionally there can be extensive delays. Historically registration is effected after the purchaser is living at the property thus 'speed' is not always primary concern yet if there is a degree of urgency associated with the registration then you or your lawyers should communicate with the Registry to express the reasoning for the application to be prioritised.
Do you have any top tips for leasehold conveyancing in Haslingden from the perspective of saving time on the sale process?
- A significant proportion of the delay in leasehold conveyancing in Haslingden can be bypassed where you get in touch lawyers as soon as you market your property and request that they start to put together the leasehold information needed by the buyers’ conveyancers. If you are supposed to have a share in the Management Company, you should make sure that you have the original share document. Organising a duplicate share certificate can be a lengthy formality and delays many a Haslingden home move. If a duplicate share certificate is required, you should approach the company director and secretary or managing agents (if relevant) for this at the earliest opportunity. Many freeholders or managing agents in Haslingden charge for providing management packs for a leasehold premises. You or your lawyers should enquire as to the actual amount of the charges. The management pack can be applied for as soon as you have a buyer, thus accelerating the process. The average time it takes to obtain the necessary information is three weeks. It is the most common cause of frustration in leasehold conveyancing in Haslingden. Some Haslingden leases require Licence to Assign from the landlord. If this is the case, it would be prudent to place the estate agents on notice to make sure that the purchasers obtain bank and professional references. Any bank reference will need to confirm that the buyers are financially capable of paying the annual service charge and the actual amount of the service charge should be quoted in the bank’s letter. You will therefore need to provide your estate agents with the service charge figures so that they can pass this information on to the buyers or their solicitors.
I invested in buying a basement flat in Haslingden, conveyancing formalities finalised in 2009. 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 Haslingden with over 90 years remaining are worth £171,000. The ground rent is £50 charged once a year. The lease ends on 21st October 2104
With 79 years unexpired the likely cost is going to span between £8,600 and £9,800 plus professional fees.
The figure above a general guide to costs for extending a lease, but we are not able to advice on a more accurate figure in the absence of comprehensive investigations. You should not use this information in a Notice of Claim or as an informal offer. There may be additional issues that need to be considered and clearly you should be as accurate as possible in your negotiations. Please do not take any other action placing reliance on this information before getting professional advice.