I am in the process of selling my flat in Yorkshire Dales and the estate agent has just text me to say that the purchasers are changing their conveyancer. The excuse is that the mortgage company will only deal with property lawyers on their approved list. Why would a major lender only deal with specific law firms rather the firm that they want to choose to handle their conveyancing in Yorkshire Dales ?
Banks have always had an approved set of law firms that can act for them, but in the past few years big names such as Lloyds Banking Group, have considered and reduced their conveyancing panel– in some cases removing conveyancing firms who have represented them for decades.
Lenders attribute this action to a rise in fraud by way of justification for the cull – criteria have been stiffened as a smaller panel is easier to monitor. No lender will say how many solicitors have been dropped, claiming the information is commercially sensitive, but the Law Society claims that it is hearing daily from firms that have been removed from panels. Plenty of firms are unaware that they have been dropped until contacted by a borrower who has instructed them as might be the situation in your buyers' case. Your purchasers are unlikely to have any impact on this.
Do banks and building societies provide you with an approved list of Yorkshire Dales conveyancing solicitors? How do you know who is on the Clydesdale conveyancing panel?
Yorkshire Dales conveyancing firms themselves provide us confirmation that they are on the Clydesdale conveyancing panel as opposed to being supplied with a list from Clydesdale directly.
I am selling my apartment in Yorkshire Dales. Will the conveyancer have to be required to be on the UBS conveyancing panel in order to deal with repayment of my mortgage?
Ordinarily, even if your lawyer is not on the UBS conveyancing panel they can still act for you on your sale. It might be that the lender will not release the original deeds (if applicable and increasingly irrelevant) until after the mortgage is paid off. You should speak to your lawyer directly before you start the process though to ensure that there is no problem as lenders are changing their panel criteria fairly frequently currently.
I own a renovated Edwardian property in Yorkshire Dales. Conveyancing lawyer represented me and Nationwide Building Society. I did a free Land Registry search last week and I saw two entries: one for freehold, another for leasehold with the matching property. Is it worth asking Nationwide Building Society to clarify?
You need to review the Freehold register you have again and check the Charges Register as there may be mention of a lease. The best way to be sure that you are also the registered proprietor of the leasehold and freehold title as well is to check (£3). It is not completely unheard of in Yorkshire Dales and other locations in the country and poses no real issues for owners other than when they sell they have to account for both freehold and leasehold interests when dealing with purchasers. You can also question the situation with your conveyancing lawyer who conducted the conveyancing.
We are a couple of weeks into a freehold purchase having been directed to conveyancers by the high street agent to perform conveyancing in Yorkshire Dales. I am am extremely disappointed with the quality of service. Can you help me find new lawyers?
A conveyancer would have to be very bad to suggest replacing them. Has the loan offer been issued? In the event that it has you must make them aware of the new contact details and ensure the mortgage documents are re-sent. The conveyancer needs to be on the lenders panel to avoid supplemental fees and frustration. So that should be your first question of the new lawyers. The search tool can assist you in finding a lender approved lawyer for your conveyancing in Yorkshire Dales
I've recently bought a leasehold house in Yorkshire Dales. Am I liable to pay service charges for periods before completion of my purchase?
Where the service charge has already been demanded from the previous lessee and they have not paid you would not usually be personally liable for the arrears. Strange as it may seem, your landlord may still be able to take action to forfeit the lease. It is an essential part of leasehold conveyancing for your conveyancer to be sure to have an up to date clear service charge receipt before completion of your purchase. If you have a mortgage this is likely to be a requirement of your lender.
If you purchase part way through an accounting year you may be liable for charges not yet demanded even if they relate to a period prior to your purchase. In such circumstances your conveyancer would normally arrange for the seller to set aside some money to cover their part of the period (usually called a service charge retention).
Yorkshire Dales Conveyancing for Leasehold Flats - A selection of Questions you should consider Prior to buying
The best form of lease structure is if the freehold interest is owned by the leaseholders. In this arrangement the lessees have control and notwithstanding that a managing agent is usually retained where the building is larger than a house conversion, the managing agent employed by the leaseholders. Who takes responsibility for maintaining and repairing the block? It would be sensible to find out as much as you can about the company managing the block as they will either make living at the property much simpler or uncomfortable. As the proprietor of a leasehold property you will be in the clutches of the managing agents from a financial perspective and when it comes to practical matters like the upkeep of the communal areas. Ask prospective neighbours if they are happy with them. Finally, be sure you discover the dates that the maintenance fees are due to the managing agents and precisely what it includes.