Is the fact that my solicitor in Kirkby is not identified on my bank's conveyancing panel that there is a problem with the quality of her conveyancing?
It would not be wise to jump to that conclusion. There are all sorts of perfectly reasonable explanations. Just recently a report by the solicitors regulator indicated that over three quarters of law firms surveyed had been removed from at least one lender panel. The top 5 reasons are as follows: (1) lack of transactions (2) the lawyer is a sole practitioner (3) as part of the HSBC panel reduction (4) regulatory contact by SRA (5) accidental removal. If you are concerned you should simply call the Kirkby conveyancing practice and enquire why they are no longer on the approved list for your bank.
My solicitor has identified a defect with the lease for the property we are buying in Kirkby. The other side have offered title insurance as a solution. We are happy with insurance and will pay for it. Our solicitor has advised that he must be satisfied that the mortgage company is willing to move forward with this solution. Who is the client here, us or the mortgage company ?
The short answer to your last question is that, notwithstanding the risk of a conflict of interest, you and the bank are the client. Your solicitor must comply with the UK Finance Lenders’ Handbook conditions. 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 conveyancer will have no choice but to discontinue acting for you.
How can we know in advance if a Kirkby conveyancing solicitor on the Kent Reliance panel is any good?
When it comes to conveyancing in Kirkby obtaining recommendations is a sensible starting point. Before you go ahead, check if they offer a no sale no fee offer. Also, you often get what you pay for - a firm which quotes more, will often provide a better service than one advertising the lowest fees. We would always advocate that you speak with the solicitor handling your transaction.
We are getting a further advance on our home loan from Clydesdale as we wish to carry out improvements to our property in Kirkby. Do we need to choose a nearby Kirkby solicitor on the Clydesdale conveyancing panel to deal with the legals?
Clydesdale don't usually require a member of their conveyancing panel to deal with the formalities. If they do require any legal work then you would need to ensure that such a lawyer was on the Clydesdale conveyancing panel.
I had a mortgage agreed in principle with Kent Reliance. Kirkby conveyancing lawyers have been chosen. What is the average time that one could expect to receive a mortgage offer from Kent Reliance?
There is no definitive answer here. Have Kent Reliance done the survey? Have you advised Kent Reliance as to your lawyers' details and checked that your lawyers are on the Kent Reliance conveyancing panel? It is not unusual for a mortgage offer to take a month to come through.
I have been told that property searches are the main reason for delay in Kirkby house deals. Is that correct?
The Council of Property Search Organisations (CoPSO) published determinations of a review by MoveWithUs that conveyancing searches do not feature amongst the most frequent causes of delays in the conveyancing process. Local searches are unlikely to be the root cause of delay in conveyancing in Kirkby.
How do I use your search tool to choose a conveyancing lawyer in Kirkby on the panel for my mortgage?
1st select a bank such as Yorkshire Building Society, Bank of Scotland or Bank of Ireland then specify your preferred area such as Kirkby. Conveyancing practices in Kirkby and beyond should be listed.
I am a negotiator for a busy estate agency in Kirkby where we have experienced a few flat sales put at risk due to short leases. I have been given contradictory information from local Kirkby conveyancing solicitors. Could you shed some light as to whether the owner of a flat can start the lease extension formalities for the purchaser on completion of the sale?
As long as the seller has owned the lease for at least 2 years it is possible, to serve a Section 42 notice to kick-start the lease extension process and assign the benefit of the notice to the purchaser. The benefit of this is that the buyer can avoid having to wait 2 years for a lease extension. Both sets of lawyers will agree to form of assignment. The assignment needs to be completed prior to, or simultaneously with completion of the sale.
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 buyer.
I purchased a 1st floor flat in Kirkby, conveyancing was carried out half a dozen years ago. Can you give me give me an indication of the likely cost of a lease extension? Comparable flats in Kirkby with a long lease are worth £222,000. The ground rent is £50 charged once a year. The lease runs out on 21st October 2096
With 70 years left to run the likely cost is going to range between £9,500 and £11,000 plus legals.
The suggested premium range that we have given is a general guide to costs for extending a lease, but we are not able to supply 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. Neither should you take any other action placing reliance on this information without first getting professional advice.