Much to our surprise we have been advised by our estate agent that my Holbrook the law firm I have appointed is not on the mortgage company Solicitor panel. What can I do to be certain whether this is indeed the case?
The first thing you need to do is to call your Holbrook lawyer directly. It is reasonable to expect your lawyer to inform you of the situation. If they are not on the panel they may recommend you to a Holbrook conveyancing practice that is on the approved list of lawyers for your mortgage company.
We previously chose conveyancing lawyers based in Holbrook on the Skipton solicitor approved list. They have just billed me a supplemental fee for the legal aspects of the Skipton mortgage. Is this an additional conveyancing fee specified by Skipton?
As unfair as it may seem, as long as it’s in their Terms and Conditions or estimate then yes your conveyancer is entitled to charge a fee for this. This charge is not dictated by Skipton but by your Holbrook conveyancing practitioner. Some firms on the Skipton panel will charge an ‘acting for lender’ fee and others do not.
I am purchasing a property in Holbrook. A rare aspect is that the roof has a solar panel. Solicitors conducting should look into this right? Will my lender Co-operative be concerned?
Given that you are obtaining a mortgage with Co-operative your lawyer must follow the formal requirements contained in Section two of UK Finance Lenders’ Handbook for Co-operative. The CML Handbook stipulates minimum conditions for solar panel roof-space leases, and property lawyers are required to report to Co-operative where a lease does not meet these requirements. The requirements relate to the installation of panels on properties countrywide and is not limited to Holbrook.
It is not clear whether my lender obliges me to make sure the lease term for the flat is extended prior to the completion date. I have called into my local Holbrook building society branch on various occasions and was informed it wasn't an issue and they would lend. My Holbrook conveyancing solicitor - who is on the mortgage company conveyancing panel- telephoned to say that they would not lend in accordance with their UK Finance Lenders’ Handbook minimum lease term requirements. Who do I believe?
As long as the solicitor is on the bank approved list, they must comply with the CML Handbook specifications for the bank. Unless your lawyer obtains specific confirmation in writing that the bank will go ahead, your lawyer has no choice but to refrain from exchanging contract and committing you to the purchase. We would suggest that you ask the mortgage company to contact your lawyer in writing confirming that they will accept the number of years left on the lease.
I have been told that property searches are the number one reason for stalling in Holbrook conveyancing transactions. Is there any truth in this?
The Council of Property Search Organisations (CoPSO) published determinations of research by MoveWithUs that conveyancing searches do not figure within the most frequent causes of hindrances in the conveyancing process. Local searches are unlikely to be the root cause of delay in conveyancing in Holbrook.
In what way can the Landlord & Tenant Act 1954 impact my business property in Holbrook and how can your lawyers assist?
The 1954 Act affords a safeguard to commercial tenants, granting the right to apply to court for a continuation of occupancy at the end of the lease term. There are certain specified grounds where a landlord can refrain from granting a lease renewal and the rules are complex. Fees are different for commercial conveyancing. Holbrook is one of our many areas of the UK in which the firms we work with have offices
I am thinking of appointing a conveyancing solicitor in Holbrook for my house move. Can I check a firm’s record with the profession’s regulator?
You may search for published Solicitor Regulator Association (SRA) decisions arising from inquisitions from 2008 onwards. Visit Check a solicitor's record. To find records Pre 2008, or to check a firm's record, ring 0870 606 2555, 08.00 - 18.00 any week day save for Tuesday when lines open at 9.30am. For callers outside the UK, use +44 (0)121 329 6800. The regulator could monitor call for training requirements.
My wife and I may need to sub-let our Holbrook garden flat for a while due to taking a sabbatical. We used a Holbrook conveyancing practice in 2001 but they have closed and we did not have the foresight to get any advice as to whether the lease prohibits the subletting of the flat. How do we find out?
Some leases for properties in Holbrook do contain a provision to say that subletting is only permitted with prior consent from the landlord. The landlord cannot unreasonably refuse but, in such cases, they would need to see references. Experience suggests that problems are usually caused by unsatisfactory tenants rather than owner-occupiers and for that reason you can expect the freeholder to take up the references and consider them carefully before granting permission.
I inherited a ground floor flat in Holbrook, conveyancing having been completed 4 years ago. Can you work out an approximate cost of a lease extension? Similar properties in Holbrook with an extended lease are worth £190,000. The average or mid-range amount of ground rent is £65 charged once a year. The lease terminates on 21st October 2085
With only 61 years unexpired we estimate the price of your lease extension to span between £18,100 and £20,800 plus costs.
The figure above a general guide to costs for renewing a lease, but we are not able to advice on the actual costs without more comprehensive due diligence. Do not use the figures in a Notice of Claim or as an informal offer. There may be additional concerns that need to be taken into account and clearly you should be as accurate as possible in your negotiations. Neither should you move forward based on this information without first seeking the advice of a professional.