My wife and I are looking to acquire a home in Huddersfield and have appointed a Huddersfield conveyancing practice. Within the past 48 hours our property lawyer has forwarded the sale agreement to be signed with a detailed report in anticipation of exchanging contracts shortly. TSB have this afternoon contacted us to inform me that there is now an issue as our Huddersfield solicitor is not on their conveyancing panel. What do we do from here?
When purchasing a property with the benefit of a mortgage it is conventional for the purchasers' solicitors to also represent the purchaser's lender. 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 Quality Scheme. Your property lawyer should contact your lender and see if they can apply for membership of their conveyancing panel, but if that is not viable they will instruct their own solicitors to act. You don't have to instruct a firm on the lender’s conveyancing panel as you are at liberty to use your preferred Huddersfield lawyers, in which case your legal fees may increase, and it may delay matters as you are adding another lawyer into the mix.
We see that you have a post code search directory identifying firms on the Principality conveyancing panel. Do companies pay you a commission if I instruct them for our conveyancing in Huddersfield?
We are a listing service only for law firms wishing to communicate if they are on the Principality conveyancing panel or other lender panels. We do not charge referral fees to any conveyancer that you subsequently appoint for your conveyancing in Huddersfield.
I had intended to instruct a conveyancing solicitor in Huddersfield for our home move. Our financial adviser informed us that our mortgage lenders Nationwide Building Society won't deal with them. Why is this not regarded as unfair competition?
Lenders normally restrict either the category or the number of conveyancing solicitors on their panel. Typical examples of such criteria being that a firm must not be a sole practitioner. As well as restricting the profile of firm, some have reduced the amount of firms they use to act for them. You should note that Nationwide Building Society have no responsibility for the quality of advice provided by any member of Nationwide Building Society Conveyancer Panel. Mortgage fraud was a key driver in the reduction of solicitor panels a few years ago even though there remains differing opinions regarding the level of solicitor involvement in some of that fraud. Data from the Land Registry indicate that hundreds of law firms, including some in or near Huddersfield only perform a couple conveyances per annum.
I've recently found out that there is a flying freehold element on a house I have offered on a fortnight ago in what should have been a quick, chain free conveyancing. Huddersfield is the location of the property. Can you offer any opinion?
Flying freeholds in Huddersfield are rare but are more likely to exist in relation to terraced houses. Even where you use a solicitor outside Huddersfield you would need to get your solicitor to go through the deeds very carefully. Your mortgage company may require your conveyancing solicitor to take out an indemnity policy. Some of the more diligent conveyancing solicitors in Huddersfield may determine that this is not enough and that the deeds be re-written to give you the most up to date legal protection. If so, the next door neighbour also had to sign up to the revised deeds.It is possible that your lender will not accept the situation so the sooner you find out the better. You should also check with your insurance broker as to whether they will insure a flying freehold residence.
I am downsizing from my home. My previous solicitors closed down. It would be helpful to have a recommendation of a conveyancing firm. Im based in Huddersfield if that makes things easier.
Do use our search tool to help you choose a solicitor for your conveyancing in Huddersfield. We have connected thousands of home buyers and sellers with regulated solicitors to ensure that the legalities of their house move runs smoothly.
Can you provide any top tips for leasehold conveyancing in Huddersfield from the perspective of saving time on the sale process?
- Much of the frustration in leasehold conveyancing in Huddersfield can be reduced where you get in touch lawyers the minute you market your property and ask them to collate the leasehold information which will be required by the purchasers’ representatives. Some Huddersfield leases require Landlord’s consent to the sale and approval of the buyers. 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 will need to confirm that the buyers are able to meet 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. If there is a history of any disputes with your freeholder or managing agents it is very important that these are resolved prior to the flat being marketed. The purchasers and their solicitors will be warry about purchasing a property where there is an ongoing dispute. You may need to swallow your pride and 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 ahead of the contract papers being issued to the buyers’ solicitors. You are still duty bound to disclose details of the dispute to the buyers, but it is better to reveal the dispute as historic rather than unsettled. The majority of landlords or managing agents in Huddersfield levy fees for providing management packs for a leasehold home. You or your lawyers should enquire as to the fee that they propose to charge. The management information sought as soon as you have a buyer, thus accelerating the process. The typical amount of time it takes to receive management information is three weeks. It is the most usual reason for frustration in leasehold conveyancing in Huddersfield.
I purchased a 1st floor flat in Huddersfield, conveyancing having been completed half a dozen years ago. Can you let me have an estimated range of the fair premium for a lease extension? Similar properties in Huddersfield with an extended lease are worth £190,000. The ground rent is £65 per annum. The lease comes to an end on 21st October 2086
With just 61 years left to run we estimate the premium for your lease extension to range between £19,000 and £22,000 plus legals.
The suggested premium range above a general guide to costs for renewing a lease, but we are not able to provide the actual costs in the absence of detailed due diligence. Do not use this information in tribunal or court proceedings. There are no doubt additional concerns that need to be taken into account and clearly you should be as accurate as possible in your negotiations. You should not move forward placing reliance on this information before getting professional advice.