We're in Hale Barns, First time buyers buying with a mortgage (lender is TSB , and our lawyer is on the TSB conveyancing panel). How long should the conveyancing process take?
The fact that your lawyer is on the TSB conveyancing panel is a help. It would almost certainly delay matters if they were not. However, no property lawyer should guarantee a timeframe for your conveyancing, due to third parties outside of your control such as delays caused by lenders,conveyancing search providers or by the other side’s solicitors. The time taken is often determined by the number of parties in a chain.
When it comes to lenders such as Skipton, do Hale Barns conveyancing practitioners have to pay a fee to be on the conveyancing panel?
We are not aware of any mortgage company fees to register on their panel, although some do levy an administration charge to deal with the processing of the conveyancing panel submission.
I'm spending time viewing houses in Hale Barns and I am now considering a potential offer. Is it best to have a lawyer on ‘stand by’? I will be getting a home loan with HSBC.
It would be sensible to start your search sooner rather than later. After you have chosen your lawyer and once your offer is accepted you can instruct them to work for you and forward their details on to the EA. As you are taking out a mortgage with HSBC, ask your prospective lawyers if they are on the HSBC conveyancing panel otherwise they can't do the mortgage legal work.
I am selling my flat. I had a double glazing fitted in December 2006, but did not receive a FENSA certificate or Building Regulation Certificate. My buyer's mortgage company, Principality are being a right pain. The Hale Barns solicitor who is on the Principality conveyancing panel is recommending indemnity insurance as a solution but Principality are requiring a building regulation certificate. Why do Principality have a conveyancing panel if they don't accept advice from them?
It is probably the case that Principality have referred the matter to their valuer. The reason why Principality may not want to accept indemnity insurance is because it does not give them any reassurance that the double glazing was correctly and safely installed. The indemnity insurance merely protects against enforcement action which is very unlikely anyway.
My relative advised me that where I am buying in Hale Barns I should carry out a Neighbourhood, Planning and Local Amenity Search. Can you explain what the purpose of this search is?
A search of this type is usually quoted for as part of the standard Hale Barns conveyancing searches. It is a large document of about 40 pages, listing and setting out important information about Hale Barns around the property and the people living there. It incorporates an Aerial Photograph, Planning Applications, Land Use, Mobile Phone Masts, Rights of Way, the Hale Barns Housing Market, Council Tax Banding, the type of People living in the area, the dominant type of Housing, the Average Property Price, Crime details, Hale Barns Education with plans and statistics, Local Amenities and other useful information concerning Hale Barns.
I am buying a new build house in Hale Barns benefiting from help to buy. The builders refused to move on the amount so I negotiated £7000 of extras instead. The house builders rep advised me not to tell my lawyer about this extras as it could affect my mortgage with the bank. 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.
We are 17 days into a freehold purchase having been referred to conveyancers by the local agent to do our conveyancing in Hale Barns. I am am starting to be frustrated with the level of service. Can you help me find new lawyers?
A lawyer would need to be very bad to suggest changing them. Has your loan offer been generated? If so you will need to inform them of the new contact details and ensure the loan are re-sent. The conveyancer needs to be on the mortgage company approved list to avoid escalating charges and complications. So that should be your starting point. The search tool can help you find a bank approved solicitor for your conveyancing in Hale Barns
Do you have any advice for leasehold conveyancing in Hale Barns from the perspective of speeding up the sale process?
- A significant proportion of the frustration in leasehold conveyancing in Hale Barns can be avoided where you instruct lawyers as soon as you market your property and ask them to put together the leasehold information needed by the purchasers’ lawyers. If you have had conflict with your freeholder or managing agents it is very important that these are settled prior to the flat being put on the market. The buyers and their solicitors will be reluctant to purchase a flat where there is a current dispute. You will have to accept that you will have to discharge any arrears of service charge or settle the dispute prior to the buyers completing the purchase. It is therefore preferable to have any dispute settled ahead of the contract papers being issued to the buyers’ solicitors. You are still duty bound to disclose particulars of the dispute to the purchasers, but it is clearly preferable to reveal the dispute as historic rather than ongoing. If you have carried out any alterations to the premises would they have required Landlord’s permission? In particular have you installed wooden flooring? Most leases in Hale Barns state that internal structural changes or addition of wooden flooring require a licence from the Landlord consenting to such changes. Should you fail to have the paperwork in place do not contact the landlord without contacting your conveyancer first. A minority of Hale Barns leases require Licence to Assign from the landlord. If this is the case, it would be prudent to notify your estate agents to make sure that the purchasers put in hand financial (bank) and professional references. Any bank reference should make it clear that the buyer is financially capable of paying the annual service charge and the actual amount of the service charge should be quoted in the bank’s letter. You will therefore need to provide your estate agents with the service charge figures so that they can pass this information on to the buyers or their solicitors.
I inherited a 1 bedroom flat in Hale Barns, conveyancing was carried out 7 years ago. Can you work out an approximate cost of a lease extension? Corresponding properties in Hale Barns with over 90 years remaining are worth £211,000. The average or mid-range amount of ground rent is £45 per annum. The lease runs out on 21st October 2093
With just 67 years unexpired the likely cost is going to range between £10,500 and £12,000 as well as costs.
The suggested premium range that we have given is a general guide to costs for renewing a lease, but we are not able to provide a more accurate figure in the absence of comprehensive due diligence. Do not use the figures in tribunal or court proceedings. There are no doubt other issues that need to be considered and you obviously want to be as accurate as possible in your negotiations. Please do not take any other action placing reliance on this information before getting professional advice.