Our conveyancer has uncovered a a problem with the lease for the flat we are purchasing in Hawes. The seller’s lawyers have suggested defective title insurance as a solution. We are content with insurance and will pay for it. Our solicitor says that he must be satisfied that the bank is content with this solution. Who is the client here, us or the lender?
The short answer to your last question is that, notwithstanding the risk of a conflict of interest, you and the bank are the client. Your solicitor must comply with the UK Finance Lenders’ Handbook provisions. The UK Finance Lenders’ Handbook conditions require your lawyer to disclose issues such as defects with the lease so that the lender can be afforded the opportunity to check with their valuer as to the extent that the value of the property is affected. Should you refuse to allow your lawyer to make the appropriate notification then your solicitor will have no choice but to discontinue acting for you.
My father advised me that in buying a property in Hawes there could be various restrictions prohibiting external alterations to the property. Is this right?
There are a number of properties in Hawes which have some sort of restriction or requirement of consent to perform external alterations. Part of the conveyancing in Hawes should determine what restrictions are applicable and advising you as part of a ROT that should be sent to you.
Is it the case that all Hawes conveyancing solicitors on the UBS conveyancing panel are regulated by the SRA?
As a firm of solicitors, in order to be on the UBS conveyancing panel they would need to be regulated by the Solicitors Regulatory Authority. The majority of mortgage companies do permit licenced conveyancers on their panel and in such a situation the firms would be regulated by the CLC.
I am currently in the process of buying my council flat in Hawes. I have a mortgage agreed with Barclays. Conveyancing is new to me. Can I proceed without a solicitor easily? I think we can but we keep being told I should use 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 Barclays, you will need to appoint a solicitor on the Barclays conveyancing panel.
I need some quick conveyancing in Hawes as I am faced with pressure to sign on the dotted line in less than 3 weeks. A home loan is not required. Is it possible to avoid the conveyancing searches to save fees and time?
If.Given you are not obtaining a home loan you are at liberty not to have searches carried out although no law firm would advise that you don't. With lots of history conveyancing in Hawes the following are instances of issues that can appear and therefore affect the marketability of the property: Refused Planning Applications, Outstanding Charges, Outstanding Grants, Unadopted Roads,...
I have justdiscovered that Stirling Law have been shut down. They carried out my conveyancing in Hawes for a purchase of a leasehold flat 10 months ago. How can I be sure that my home is registered correctly in the name of the former proprietor?
The easiest way to see if the property is in your name, you can make a search of the land registry (£3.00). You can either do this yourself or ask a law firm to do this for you. If you are not registered you can seek help from one of a number of Hawes conveyancing specialists.
Is it possible to switch solicitor as I have to appoint one who is on the HSBC Bank conveyancing panel. I was using a local conveyancing solicitor in Hawes round the corner but he is not approved by HSBC Bank
It would be our pleasure to help you select a conveyancing solicitor in Hawes on the HSBC Bank panel. Please note that the solicitors that we list do not pay us fee if you instruct them and are under regulation of the SRA who regulate all conveyancing solicitors in Hawes. In making use of the find a conveyancing solicitor tool on this page, you can compare costs for conveyancing solicitors in Hawes and beyond.
I work for a long established estate agent office in Hawes where we see a few flat sales derailed due to short leases. I have received inconsistent advice from local Hawes conveyancing firms. Can you shed some light as to whether the seller of a flat can instigate the lease extension formalities for the buyer?
As long as the seller has owned the lease for at least 2 years it is possible, to serve a Section 42 notice to start the lease extension process and assign the benefit of the notice to the purchaser. The benefit of this is that the buyer need not have to sit tight for 2 years for a lease extension. Both sets of lawyers will agree to form of assignment. The assignment has to be done before, or at the same time as completion of the disposal of the property.
Alternatively, it may be possible to agree the lease extension with the freeholder either before or after the sale. If you are informally negotiating there are no rules and so you cannot insist on the landlord agreeing to grant an extension or transferring the benefit of an agreement to the purchaser.
I own a leasehold flat in Hawes, conveyancing was carried out in 2003. Can you let me have an estimated range of the fair premium for a lease extension? Comparable flats in Hawes with an extended lease are worth £190,000. The average or mid-range amount of ground rent is £65 charged once a year. The lease finishes on 21st October 2087
With 61 years remaining on your lease we estimate the premium for your lease extension to be between £19,000 and £22,000 as well as plus your own and the landlord's "reasonable" professional fees.
The figure that we have given is a general guide to costs for extending a lease, but we are not able to advice on a more accurate figure in the absence of detailed investigations. You should not use this information in tribunal or court proceedings. There may be other concerns that need to be taken into account and you obviously should be as accurate as possible in your negotiations. You should not move forward placing reliance on this information before getting professional advice.