My wife and I are hoping to purchase a house in Holmfirth and are in fact using a Holmfirth conveyancing practice. Within the past 48 hours our property lawyer has sent a preliminary report and documents to look through with a view to exchanging next week. Yorkshire Building Society have this evening contacted us to advise us that there is now an issue as our Holmfirth conveyancer is not on their approved list of lawyers. Is this a problem?
When purchasing a property with the benefit of a mortgage it is normal for the purchasers' solicitors to also represent the mortgage company. In order to act for a bank or building society a law firm has to be on that lender's conveyancing panel. An application has to be made by the law firm to the lender to become a member of the lender's panel and there are increasingly strict criteria which the firm has to satisfy and indeed some lenders now require their panel members to be part of the Law Society’s Conveyancing Accreditation Scheme. Your solicitor should contact your mortgage company and see if they can apply for membership of their conveyancing panel, but if that is not viable they will instruct their own lawyers to represent them. You don't have to instruct a firm on the bank's conveyancing panel as you are at liberty to use your preferred Holmfirth lawyers, in which case your legal fees may increase, and it will likely delay the transaction as you have another set of people involved.
It has been 2 months since my purchase conveyancing in Holmfirth took place. I have checked the Land Registry website which shows that I paid £200,000 when infact I paid £180,000. Why the discrepancy?
The price paid figure is taken from the application to register the purchase. It is the figure included in the Transfer (the legal deed which transfers the residence from one person to the other) and referred to as the 'consideration' or purchase price. You can report an error in the price paid figure using the LR online form. In most cases errors result from typos so at first glance the figure. Do report it so they can double check and advise.
How does conveyancing in Holmfirth differ for new build properties?
Most buyers of new build premises in Holmfirth contact us having been asked by the builder to sign contracts and commit to the purchase even before the property is built. This is because builders in Holmfirth tend to buy the land, plan the estate and want to get the plots sold off as they are building the properties. Buyers, therefore, will have to exchange contracts without actually seeing the house they are buying. To reduce the chances of losing the property, buyers should instruct conveyancing solicitors as soon as the property is reserved and mortgage applications should be submitted quickly. Due to the fact that it could be several months and even years between exchange of contracts and completion, the mortgage offer may need to be extended. It would be wise to use a lawyer who specialises in new build conveyancing especially if they are accustomed to new build conveyancing in Holmfirth or who has acted in the same development.
I have been on the look out for a leasehold apartment up to £235,500 and found one close by in Holmfirth I like with open areas and transport links nearby, however it only has 49 years unexpired on the lease. I can't really find anything else in Holmfirth suitable, so just wondered if I would be making a grave error buying a lease with such few years left?
Should you require a home loan the remaining unexpired lease term will be an issue. Discount the offer by the amount the lease extension will cost if not already taken into account. If the current owner has owned the property for a minimum of 2 years you can ask them to start the process of the extension and pass it to you. An additional ninety years can be extended on to the existing lease with a zero ground rent applied. You should consult your conveyancing solicitor regarding this matter.
I'm converting the mortgage on my current house to a BTL loan with Barnsley Building Society and intend to use the remaining equity as a deposit on a second house. The area we are looking at is Holmfirth. Will your lawyers be able to act for both sets of banks and link together the transactions?
Do use our search tool on this site to ensure that the solicitors are approved by both lenders. Assuming that they are the solicitor will be able to connect the two transactions but you should talk with you lawyer and specify your expectations and requirements.
I'm selling a apartment in Holmfirth. I can find my conveyancer's company on the CLC list, but I can't locate my conveyancer's name as listed on the regulator's website. Is this a big problem?
Not all staff in the law firm must be listed by the regulator. Provided there is someone qualified to 'oversee' the conveyancing, the actual day-to-day activity can be undertaken by unlicensed staff.