My partner and I are planning to buy a flat in Hull and are in fact using a Hull conveyancing firm. Within the past 48 hours our solicitor has sent a preliminary report and documents to look through in anticipation of exchanging contracts shortly. Britannia have this afternoon contacted us to inform me that they have now hit a problem as our Hull conveyancer is not on their conveyancing panel. Is this a problem?
When purchasing a property with the benefit of a mortgage it is conventional for the purchasers' lawyers to also represent 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 bank and see if they can apply for membership of their conveyancing panel, but if that is not viable they will instruct their own solicitors to act. You don't have to instruct a firm on the lender’s conveyancing panel as you are at liberty to use your preferred Hull lawyers, in which case your legal fees may increase, and it may delay matters as you are adding another lawyer into the mix.
We were just about to sign contracts for a freehold house in Hull. We encountered a stumbling block. The mortgage offer with TSB runs out on 2/10/2025 but the sellers are insisting on a completion date of 6/10/2025. Can one extend the mortgage offer?
The person best placed to address this question is your lawyer who will hopefully determine whether they corresponding with the mortgage company, vendor’s representatives, estate agents or indeed all three given what has happend in your transaction as of today.
I am purchasing my first flat in Hull benefiting from help to buy. The builders refused to reduce the price so I negotiated 6k of extras instead. The sale representative suggested that I not disclose to my conveyancer about the side-deal as it may affect my mortgage with Yorkshire Building Society. Do I keep my lawyer in the dark?.
All lenders require a Disclosure of Incentives Form from the builder of any new build, converted or renovated property, It is available online from the Lenders’ Handbook page on the CML website. CML form is completed and handed to the lender's surveyor when the inspection is done.
Lenders have different policies on incentives. Some accept none at all, cash or physical, while others will accept cash incentives up to 5%.
Hard to understand why the representative of a builder would be suggesting you withold information from a solicitor when all this will be clearly visible on forms the builder has to supply to its solicitor, the buyer's solicitor and the surveyor.
Over the last few months I have been searching for a ground for flat up to £245,000 and found one near me in Hull I like with a park and station in the vicinity, the downside is that it's only got 52 years on the lease. I can't really find anything else in Hull for this price, so just wondered if I would be making a mistake buying a lease with such few years left?
If you need a mortgage the remaining unexpired lease term will be an issue. Reduce the offer by the anticipated lease extension will cost if it has not already been discounted. If the current proprietor has owned the property for at least 2 years you could ask them to start the process of the extension and pass it to you. You can add 90 years to the current lease with a zero ground rent applied. You should consult your conveyancing solicitor about this matter.
My father-in-law has recommend that I use his conveyancing solicitors in Hull. Should I choose my own solicitor?
Much as we are happy to recommend a Hull conveyancing lawyer the best way to select a conveyancing practitioner is to get feedback from friends or family who have actually used the solicitor you're considering.
I today plan to offer on a house that appears to be perfect, at a reasonable figure which is making it all the more appealing. I have just found out that the title is leasehold as opposed to freehold. I am assuming that there are particular concerns buying a leasehold house in Hull. Conveyancing solicitors have are soon to be appointed. Will they explain the issues?
The majority of houses in Hull are freehold and not leasehold. In this scenario it’s worth having a local solicitor who is familiar with the area can assist with the conveyancing process. it is apparent that you are purchasing in Hull so you should seriously consider looking for a Hull conveyancing solicitor and be sure that they are used to transacting on leasehold houses. First you will need to check the unexpired lease term. Being a leaseholder you will not be at liberty to do whatever you want with the house. The lease comes with conditions such as obtaining the freeholder’sconsent to conduct changes to the property. It may be necessary to pay a contribution towards the maintenance of the estate where the house is part of an estate. Your lawyer should appraise you on the various issues.