I am not well enough to travel far from Howden. What is the rationale as to why all Howden solicitors aren't included on all mortgage company panels?
Banks normally impose restrictions on either the nature or the number of conveyancing firms on their approved list of lawyers. Typical examples of such criteria being that the organisation must have two or more partners. In addition to restricting the type of firm, some lenders decided to restrict the number of practices they permit to represent them. It is worth noting that mortgage companies have no accountability for the standard of advice provided by any Howden solicitor on their panel. Mortgage fraud was a key driver in the culling of conveyancing panels a few years ago notwithstanding that there are differing points of view about the extent of solicitor involvement in some of that fraud. Statistics from HM Land Registry indicates that thousands of law organisations only conduct one or two conveyances a year. Those advocating conveyancing panel consolidation question why conveyancing firms deserve claim to be listed on a conveyancing panel when it is evident that conveyancing is not their primary expertise?
I require conveyancing for a flat in a fairly new development (five years built) in Howden. The vast majority the flats are already occupied. Do I need carry out the neighbourhood searches for my conveyancing in Howden?
Conveyancing Searches are a vital link in the Howden conveyancing process. There are hundreds search providers conducting Howden conveyancing searches, as well straight from the local authority. These are known collectively as personal search providers and they produce, not surprisingly, personal searches. However, all Local Authority Search conveyancing products have one thing in common - they must obtain their information from the local authoritative source.
The Howden conveyancing lawyers that I appointed last week on my house acquisition in Howden have suddenly shut down. They were on acting for me because I had to have a solicitor on the Yorkshire BS conveyancing panel and my previous Howden lawyer was not. I issued them a cheque for £250 in advance. What should be my next steps?
If you have an estate agent involved then inform them straight away so that they can let the sellers know that there may be a slight delay due to the problems encountered. Most sellers would be sympathetic and urge their lawyer to send a new set of papers to your new solicitors. You should appoint new lawyers that are on the Yorkshire BS conveyancing panel and notify the lender. If you have paid over any money, it will hopefully be held by the SRA as money in an intervened firm's bank accounts is transferred to the SRA. Then, the SRA or the intervention agent looks at the intervened firm's accounts to work out who the money belongs to. To claim your money you will need to contact the SRA. If the SRA cannot return money you are owed from the firm's bank accounts, or if they can only return part of the money, you can apply to the Compensation Fund for a grant. Your new solicitors should be in a position to assist.
Forgive me if this question is silly but I am unseasoned as a 1st time purchaser of a two bedroom flat in Howden. Do I pick up the keys to the premises on the completion date from my conveyancer? If so, I will use a local conveyancing solicitor in Howden?
On the day of completion you do not need to go to the conveyancers office in Howden. Conveyancing lawyers for you will arrange to send the completion advance to the seller's solicitors, and shortly after the monies have arrived, you should be invited to pick up the keys from the Estate Agents and start moving into the property. Usually this occurs between 1 and 3pm.
When it comes to mortgage companies such as Yorkshire BS, do Howden property lawyers incur an annual charge to be on the conveyancing panel?
We are unaware of any bank fees to register on their panel, although some do levy an administration fee to deal with the processing of the conveyancing panel submission.
Last month we had a mortgage agreed in principle with Leeds Building Society. Howden conveyancing practitioners were appointed. What is the average time that one could expect to receive a mortgage offer from Leeds Building Society?
There is no definitive answer here. Have Leeds Building Society done the survey? Have you informed Leeds Building Society as to your lawyers' details and checked that your lawyers are on the Leeds Building Society conveyancing panel? It is not unusual for a mortgage offer to take a month to come through.
I am looking for a ground for flat up to £245,000 and found one near me in Howden I like with open areas and transport links nearby, however it's only got 49 remaining years left on the lease. I can't really find anything else in Howden suitable, so just wondered if I would be making a mistake purchasing a short lease?
If you need a home loan that many years may be an issue. Discount the price by the anticipated lease extension will cost if it has not already been discounted. If the existing proprietor has owned the premises for a minimum of twenty four months you could request that they start the process of the extension and then assign it to you. You can add 90 years to the existing lease term with a zero ground rent applied. You should consult your conveyancing solicitor regarding this.
Last October I purchased a leasehold house in Howden. Am I liable to pay service charges for periods before my ownership?
In a situation where the service charge has already been demanded from the previous lessee and they have not paid you would not usually be personally liable for the arrears. However, your landlord may still be able to take action to forfeit the lease. It is an essential part of leasehold conveyancing for your conveyancer to be sure to have an up to date clear service charge receipt before completion of your purchase. If you have a mortgage this is likely to be a requirement of your lender.
If you purchase part way through an accounting year you may be liable for charges not yet demanded even if they relate to a period prior to your purchase. In such circumstances your conveyancer would normally arrange for the seller to set aside some money to cover their part of the period (usually called a service charge retention).
I acquired a basement flat in Howden, conveyancing formalities finalised 3 years ago. Can you give me give me an indication of the likely cost of a lease extension? Comparable flats in Howden with over 90 years remaining are worth £185,000. The ground rent is £65 yearly. The lease comes to an end on 21st October 2086
With just 61 years remaining on your lease we estimate the price of your lease extension to range between £18,100 and £20,800 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 renewing a lease, but we cannot give you the actual costs without more comprehensive due diligence. Do not use this information in tribunal or court proceedings. There may be additional concerns that need to be taken into account and you obviously want to be as accurate as possible in your negotiations. Neither should you take any other action placing reliance on this information before getting professional advice.