My Solicitor in St Annes Park is not on the Yorkshire Building Society Solicitor Panel. Is it possible for me to use my prefered solicitor notwithstanding that they are not on the Yorkshire Building Society panel of approved conveyancing solicitors?
Your options are as follows:
- Carry on with your existing St Annes Park solicitors but Yorkshire Building Society will need to use a lawyer on their list of acceptable firms. This will inevitably rack up the overall legal fees as well as cause delays.
- Get an alternative lawyer to act in the purchase, remembering to check they are Convince your lawyer to do everything within their powers to join the Yorkshire Building Society conveyancing panel
I am the single recipient of my late father’s estate with all property in now in my sole name, including the my former home in St Annes Park. The St Annes Park property was put into my name in July. I plan to dispose of the house. I do know about the CML six month 'rule', meaning my proprietorship may be considered the same way as if I'd bought the property in July. Will no one buy the property for half a year?
The CML handbook obliges conveyancers to: "report to us immediately if the owner or registered proprietor has been registered for less than six months." Technically you could be affected by that. Some mortgage companies would take a practical view as this requirement principally exists to pick up on the purchase and immediately sell or the flipping of properties.
is it true that all St Annes Park solicitors on the Co-operative conveyancing panel are regulated by the SRA?
As a firm of solicitors, in order to be on the Co-operative conveyancing panel they would need to be regulated by the SRA. Many banks do permit licenced conveyancers on their panel and in such a situation the organisation would be governed by the Council of Licensed Conveyancers.
I have decided to exercise my right to buy my property in St Annes Park off the council. I have a mortgage agreed with Yorkshire BS. Conveyancing is not something I have any knowledge of. Can I proceed without a solicitor easily? I think we can but we keep being told I should have one. Any advice?
It is not advisable to proceed with a house purchase without a solicitor. The council's solicitor are not acting for you. You need a solicitor for a number reasons. One of which is to verify what plans the Council have for repairs and refurbishment for the next five years. Many leaseholders have been stung for contributions of thousands of pounds. In any event, if you are getting a mortgage with Yorkshire BS, you will need to appoint a solicitor on the Yorkshire BS conveyancing panel.
Should our lawyer be asking questions about flooding as part of the conveyancing in St Annes Park.
The risk of flooding is if increasing concern for lawyers dealing with homes in St Annes Park. There are those who purchase a property in St Annes Park, completely expectant that at some time, it may suffer from flooding. However, aside from the physical damage, if a property is at risk of flooding, it may be difficult to obtain a mortgage, adequate insurance cover, or sell the property. There are steps that can be taken during the course of a property purchase to forewarn the buyer.
Lawyers are not qualified to impart advice on flood risk, however there are a number of checks that can be carried out by the buyer or on a buyer’s behalf which should give them a better understanding of the risks in St Annes Park. The conventional set of information supplied to a buyer’s solicitor (where the Conveyancing Protocol is adopted) incorporates a usual inquiry of the owner to discover if the premises has suffered from flooding. If the premises has been flooded in past which is not disclosed by the seller, then a purchaser could commence a claim for damages stemming from an incorrect answer. A purchaser’s lawyers will also commission an environmental search. This will disclose if there is a recorded flood risk. If so, more detailed investigations will need to be made.
I'm buying a new build house in St Annes Park with a mortgage from Halifax. The developers would not reduce the amount so I negotiated five thousand pounds worth of additionals instead. The property agent suggested that I not reveal to my conveyancer about this deal as it may impact my mortgage with the lender. Is this normal?.
All lenders require a Disclosure of Incentives Form from the developer 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.
In my capacity as executor for the will of my grandfather I am selling a house in Newport but reside in St Annes Park. My conveyancer (based 300 miles awayneeds me to sign a stat dec prior to completion. Can you recommend a conveyancing practitioner in St Annes Park who can witness and place their company stamp on the document?
Technically speaking you are unlikely to need to have the documents attested by a conveyancing solicitor. Ordinarily any notary public or qualified solicitor will be fine regardless of whether they are St Annes Park based
I am looking at a couple of apartments in St Annes Park which have about fifty years unexpired on the lease term. Do I need to be concerned?
There is no doubt about it. A leasehold flat in St Annes Park is a wasting asset as a result of the reducing lease term. The closer the lease gets to zero years unexpired, the more it adversely affects the salability of the premises. For most purchasers and banks, leases with under eighty years become less and less marketable. On a more upbeat note, leaseholders can extend their leases by serving a Section 42 Notice. One stipulation is that they must have owned the property for two years (unlike a Section 13 notice for purchasing the freehold, when leaseholders can participate from day one of ownership). When successful, they will have the right to an extension of 90 years to the current term and ground rent is effectively reduced to zero. Before moving forward with a purchase of a residence with a short lease term remaining you should talk to a solicitor specialising in lease extensions and leasehold enfranchisement. We are are happy to put you in touch with St Annes Park conveyancing experts who will explain the options available to you during an initial telephone conversation free of charge. More often than not it is possible to negotiate informally with the freeholder to extend the lease. They may agree to a smaller lump sum and an increase in the ground rent, but to shorter extension terms in return. You need to ensure that the agreed terms represent good long-term value compared with the standard benefits of the Section 42 Notice and that onerous clauses are not inserted into any redrafting of the lease.
Leasehold Conveyancing in St Annes Park - A selection of Queries before Purchasing
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It would be sensible to find out if there are any onerous prohibitions in the lease. For instance it is reasonably common in St Annes Park leases that pets are not allowed in in a block in St Annes Park. If you love the propertyin St Annes Park yet your cat can’t live with you then you will be presented with a difficult determination. Does the lease have onerous restrictions? Who takes charge for maintaining and repairing the block?