I am nearing exchange of contracts for my house in Horsforth and the estate agent has just text me to advise that the purchasers are switching law firm. I am told that this is due to the fact that the lender will only deal with property lawyers on their approved list. On what basis would a leading lender only engage with certain solicitors rather the firm that they want to select to handle their conveyancing in Horsforth ?
Lenders have always had an approved set of law firms they are content to work with, but in the past few years big names such as Nationwide, have considered and reduced their conveyancing panel– in some cases removing conveyancing firms who have acted for them for more than 15 years.
Lending institutions blame a rise in fraud as the reason for the pruning – criteria have been narrowed 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 being contacted daily by practices that have been removed from panels. Some 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. The purchasers are unlikely to have any impact on this.
We just had an offer accepted to purchase with Earl Shilton BS. I dropped in a couple of local companies yet cant to find a Horsforth conveyancing firm on the Earl Shilton BS panel. Can you help?
You should take advantage of the find a conveyancing panel solicitor tool on this site. Please choose the building society and type Horsforth or your location and you will be presented with a number of lawyer located in Horsforth or near you.
I appreciate that there are debates on Chancel Insurance on online forums. Am I compelled to take this when acquiring a property in Horsforth? or I am told that there is a law dating back centuries that could mean that house owners residing in a parish church boundary will be compelled to contribute towards maintenance towards the chancel within the church. Is this a legitimate concern for conveyancing in Horsforth?
Unless a previous purchase of the property completed after 12 October 2013 you can expect conveyancing practitioners carrying out conveyancing in Horsforth to continue to recommend a chancel search and or insurance against a claim.
I am buying a new build flat in Horsforth. Conveyancing is daunting at the best of times but I have never purchased a new build flat before. What sort of enquires would be asked in new build conveyancing.
Here are examples of a few leasehold new build enquiries that you should expect your new-build leasehold conveyancing in Horsforth
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Investor purchasers must be able to freely grant unsecured tenancies at market rents without requiring any consents. The Landlord must covenant to assume the management if the Management Company goes into liquidation or otherwise defaults in running the management scheme. Forfeiture - bankruptcy or liquidation must not apply under this provision. If there are lifts in the building, please confirm that the owners of flats on the ground and basement floors will not be required to contribute towards the cost of maintenance and renewal. The Lease must contain a provision on behalf of the Vendor to pay the service charges in respect of unoccupied units in order to ensure that all services can be provided.
I have been sourcing a conveyancing lawyer in Horsforth for my house move. Can I see a solicitor's complaints history with the profession’s regulator?
Anyone may read documented Solicitor Regulator Association (SRA) decisions resulting from inquisitions from 2008 onwards. Go to Check a solicitor's record. For details about the period before 1 January 2008, or to check a firm's history, call 0870 606 2555, 08.00 - 18.00 Monday, Wednesday, Thursday, Friday and 09.30 - 18.00 Tuesday. For non-uk callers, dial +44 (0)121 329 6800. The SRA could monitor call for training purposes.
I work for a reputable estate agent office in Horsforth where we have experienced a number of flat sales derailed as a result of leases having less than 80 years remaining. I have received contradictory information from local Horsforth conveyancing firms. Please can you shed some light as to whether the seller of a flat can instigate the lease extension process for the purchaser on completion of the sale?
As long as the seller has been the owner for at least 2 years it is possible, to serve a Section 42 notice to commence the lease extension process and assign the benefit of the notice to the purchaser. The benefit of this is that the proposed purchaser need not have to sit tight for 2 years to extend their lease. Both sets of lawyers will agree to form of assignment. The assignment needs to be completed before, or simultaneously with completion of the disposal of the property.
Alternatively, it may be possible to agree the lease extension with the freeholder either before or after the sale. If you are informally negotiating there are no rules and so you cannot insist on the landlord agreeing to grant an extension or transferring the benefit of an agreement to the purchaser.
I bought a studio flat in Horsforth, conveyancing formalities finalised July 1995. Can you please calculate a probable premium for a statutory lease extension? Equivalent properties in Horsforth with a long lease are worth £201,000. The ground rent is £45 yearly. The lease runs out on 21st October 2089
With just 65 years unexpired the likely cost is going to range between £13,300 and £15,400 plus legals.
The suggested premium range that we have given is a general guide to costs for renewing a lease, but we are not able to advice on 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 taken into account and clearly you should be as accurate as possible in your negotiations. Please do not take any other action based on this information before getting professional advice.