My wife and I are planning to buy a flat in Shipley and are in fact using a Shipley conveyancing practice. Within the last couple of days our conveyancer has sent a preliminary report and documents to look through with the expectation that exchange is imminent. Barclays have this evening contacted us to advise us that they have now hit a problem as our Shipley solicitor is not on their approved list of lawyers. Please explain?
Where you are buying a property with the assistance of a mortgage it is usual for the purchasers' lawyers to also act for the mortgage company. 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 solicitor should contact your mortgage company 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 Shipley lawyers, in which case your legal fees may increase, and it may delay matters as you have another set of people involved.
Why is leasehold purchase conveyancing in Shipley costs more?
Shipley leasehold conveyancing transactions usually involve additional investigations than freeholds including investigating the Lease, liaising with the Landlord such as serving relevant notices on the Landlord or managing agent, obtaining up-to-date service charge and management information, obtaining Landlord’s consents and reviewing management accounts and formation documents.
What can a local search inform me about the house we're purchasing in Shipley?
Shipley conveyancing often commences with the submitting local authority searches directly from your local Authority or via a personal search organisations for instance PSG The local search is essential in every Shipley conveyancing purchase; that is if you wish to avoid any nasty once you have moved into your new home. The search will reveal information on, amongst other things, details on planning applications relevant to the property (whether granted or refused), building control history, any enforcement action, restrictions on permitted development, nearby road schemes, contaminated land and radon gas; in all a total of thirteen topic areas.
I'm purchasing a new build house in Shipley benefiting from help to buy. The builders refused to budge the price so I negotiated 6k of fixtures and fittings instead. The sale representative suggested that I not reveal to my solicitor about this deal as it will adversely affect my mortgage with Coventry Building Society. Should I keep quiet?.
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.
I have been on the look out for a ground for flat up to £305k and identified one close by in Shipley I like with a park and transport links nearby, the downside is that it only has 52 years unexpired on the lease. There is not much else in Shipley for this price, so just wondered if I would be making a mistake purchasing a lease with such few years left?
Should you require a mortgage that many years may be a potential deal breaker. Reduce the price by the expected lease extension will cost if it has not already been discounted. If the current owner has owned the premises for at least 2 years you can ask them to start the process of the extension and then assign it to you. You can add 90 years to the current lease term with a zero ground rent applied. You should speak to your conveyancing solicitor concerning this matter.
My step-father has suggested that I appoint his conveyancing solicitors in Shipley. Should I use them?
No doubt the ideal way to choose a conveyancing practitioner is to seek feedback from friends or relatives who have used the conveyancer you're are thinking of instructing.