The vendors of the house we are looking to purchase hired a conveyancing firm in Chapeltown who has suggested a exclusivity agreement with a payment 10k. Are such agreements sensible?
There are two main concerns with executing a lock out contract (occasionally termed a shut-out contract) is that it diverts attention away from making progress with the conveyancing work, so unless it requires minimal or no negotiation then it could turn out to be a cause of frustration and delay. It is not strongly advocated amongst Chapeltown conveyancing practitioners as a result. A supplemental concern is the extent of the remedies available - a jilted purchaser is not likely to win injunctive relief to prohibit the owner completing the sale to another buyer, so the only remedy open via the contract will be the recovery of abortive costs and, in rare situations, the additional payment of penalties.
Can your site be used to find a Conveyancing solicitor in Chapeltown even if I’m not purchasing or selling a house, for example where I wish to acquire an office in Chapeltown with a loan from Barclays ?
Our comparison service is predominantly there to select residential conveyancing solicitors in Chapeltown but we have set out at the bottom of this page a few Chapeltown commercial conveyancing firms. You should make contact with the company directly to check if they are also authorised to represent Barclays
Do the Building Society Association intend to launch a online directory to to identify law firms on the Darlington Building Society conveyancing panel for instance in Chapeltown?
We would not expect to be advised of any intention on the part of the BSA to develop such a register.
Is it the case that all Chapeltown solicitor practices on the Leeds Building Society conveyancing panel are governed by the SRA?
As a firm of solicitors, in order to be on the Leeds Building Society conveyancing panel they would need to be overseen by the Solicitors Regulatory Authority. The majority of mortgage companies do permit licenced conveyancers on their panel in which case such firms would be overseen by the CLC.
Completion of my purchase has taken place for my property in Chapeltown. Conveyancing was a necessary evil but I feel I should register my dissatisfaction about the lender. How do I make a complaint?
Almost all lenders have complaints procedures. Your first point of contact should be one of the lender’s branches or the Customer Care Department at head office. We understand that complaints to a lender are sorted out effectively and efficiently. If you feel the matter is not resolved you can write to Financial Ombudsman Service who will take matters further.
It is not clear whether my mortgage offer obliges me to make sure the lease term for the flat is extended prior to the completion date. I have telephoned my Chapeltown building society branch on various occasions and was told it wasn't a problem and they will lend. My Chapeltown conveyancing solicitor - who is on the lender conveyancing panel- telephoned and was told they refuse to lend in accordance with their UK Finance Lenders’ Handbook minimum lease term requirements. I have no idea who is right.
Your property lawyer must follow the Council of Mortgage Lenders’ Handbook Part 2 requirements for your lender. Unless your lawyer obtains specific confirmation in writing that the lender will go ahead, your lawyer has no choice but to refrain from exchanging contract and committing you to the purchase. We would suggest that you ask the bank to contact your lawyer in writing confirming that they will accept the number of years remaining.
Me and my brother purchased a renovated Edwardian property in Chapeltown. Conveyancing lawyer acted for me and Santander. I happened to do a free search for it on the Land Registry database and there are a couple of entries: the first freehold, another for leasehold under the exact same address. I thought I was buying a freehold how can I check?
You should 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 owner of the leasehold and freehold title as well is to check (£3). It is not completely unheard of in Chapeltown and other areas of the country and poses no real issues for owners other than when they mortgage they have to account for both freehold and leasehold interests when dealing with lenders. You can also question the position with your conveyancing lawyer who conducted the work.
I am attracted to a two apartments in Chapeltown both have in the region of fifty years unexpired on the leases. should I be concerned?
A lease is a right to use the premises for a period of time. As the lease shortens the marketability of the lease reduces and results in it becoming more expensive to extend the lease. For this reason it is often a good idea to extend the lease term. More often than not it is difficulties arise selling premises with a short lease because mortgage lenders may be reluctant to lend money on properties of this type. Lease extension can be a protracted process. We advise that you get professional help from a conveyancer and surveyor with experience in this area.
I own a 1st floor flat in Chapeltown, conveyancing having been completed in 2003. Can you please calculate a probable premium for a statutory lease extension? Equivalent properties in Chapeltown with a long lease are worth £265,000. The ground rent is £50 charged once a year. The lease runs out on 21st October 2101
You have 76 years left to run we estimate the premium for your lease extension to be between £8,600 and £9,800 as well as legals.
The figure that we have given is a general guide to costs for extending a lease, but we cannot give you a more accurate figure without more comprehensive investigations. You should not use this information in tribunal or court proceedings. There may be other issues that need to be considered and clearly you should be as accurate as possible in your negotiations. Please do not move forward based on this information without first getting professional advice.