I can't travel far from Halifax. I would like to know the logic why all Halifax property lawyers are not on all lender panels?
Even though it may seem unfair for mortgage companies to limit who can act for them, from the public’s or solicitor’s point of view, the other side of the coin is that banks are becoming ever more anxious and regard it necessary to defend themselves against mortgage fraud. As a consequence of this concern mortgage companies are limiting their conveyancing panel to a manageable size.
The deeds to my property can not be found. The solicitors who did the conveyancing in Halifax 5 years ago are no longer around. What are my next steps?
In today’s world there are duplicates made of almost everything, and your conveyancer should know exactly where to look for all the suitable documentation so you may buy or sell your property without a hitch. Where duplicates can’t be found, your conveyancer may be able to put in place insurance or indemnities against possible claims on your premises.
I am buying my first flat in Halifax with a loan from Birmingham Midshires. The builders would not budge the price so I negotiated 6k of extras instead. The sale representative suggested that I not inform my solicitor about this side-deal as it would jeopardize my loan with the bank. Should I keep quiet?.
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 what way does the Landlord & Tenant Act 1954 affect my business property in Halifax and how can your lawyers assist?
The 1954 Act provides security of tenure to commercial tenants, giving them the a statutory right to apply to court for a continuation of occupancy when the lease reaches an end. There are limited grounds that a landlord can refrain from granting a lease renewal and the rules are complicated. Fees are different for commercial conveyancing. Halifax is one of the numerous locations in which our lawyers are based
Can you provide any top tips for leasehold conveyancing in Halifax with the aim of saving time on the sale process?
- Much of the frustration in leasehold conveyancing in Halifax can be avoided where you get in touch lawyers as soon as you market your property and request that they start to collate the leasehold information which will be required by the purchasers’ conveyancers. If you have carried out any alterations to the property would they have required Landlord’s consent? Have you, for example laid down wooden flooring? Halifax leases often stipulate that internal structural changes or laying down wooden flooring calls for a licence from the Landlord acquiescing to such changes. Should you dont have the paperwork in place you should not contact the landlord without contacting your conveyancer before hand. A minority of Halifax leases require Landlord’s consent to the sale and approval of the buyers. If this is the case, it would be prudent to place the estate agents on notice to make sure that the purchasers put in hand bank and professional references. The bank reference will need to confirm that the buyers are 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 actual amount of the service charge so that they can pass this information on to the purchasers or their solicitors. You may think that you are aware of the number of years remaining on your lease but it would be advisable double-check by asking your solicitors. A purchaser's lawyer will not be happy to advise their client to to exchange contracts if the lease term is under 75 years. In the circumstances it is important at an as soon as possible that you consider whether the lease requires a lease extension. If it does, contact your solicitors before you put your premises on the market for sale. If you have had conflict with your landlord or managing agents it is essential that these are resolved before the property is put on the market. The buyers and their solicitors will be warry about purchasing a flat where a dispute is ongoing. You will have to accept that you will have to pay any arrears of service charge or resolve the dispute prior to the buyers completing the purchase. It is therefore preferable to have any dispute settled prior to the contract papers being issued to the buyers’ solicitors. You will still have to reveal details of the dispute to the purchasers, but it is clearly preferable to present the dispute as historic rather than ongoing.
I own a ground floor flat in Halifax, conveyancing formalities finalised in 2001. Can you please calculate a probable premium for a statutory lease extension? Comparable flats in Halifax with a long lease are worth £191,000. The ground rent is £55 invoiced every year. The lease ends on 21st October 2079
With 54 years remaining on your lease we estimate the premium for your lease extension to range between £31,400 and £36,200 plus plus your own and the landlord's "reasonable" professional fees.
The suggested premium range 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 detailed due diligence. Do not use this information in a Notice of Claim or as an informal offer. There are no doubt other concerns that need to be taken into account and you obviously should be as accurate as possible in your negotiations. Please do not move forward placing reliance on this information without first seeking the advice of a professional.
Whilst your website is a good idea there are many lawyers listed near Halifax being on the bank conveyancing panel. Can you recommend a specific firm on the mortgage company approved panel?
We do not recommend specific Halifax firms as the right Halifax conveyancing solicitor for you depends on where your priorities lie. For example you may require a local firm with Halifax knowledge or you might be looking for the low cost conveyancing. Before you appoint your lawyer we advise you to speak to two or three of the the firms listed to gain comfort as to which one is right for you..