Our solicitor has identified a a problem with the lease for the property we are purchasing in Pontefract. The seller’s lawyers have put forward defective title insurance as a solution. We are happy with insurance and will pay for it. Our conveyancing practitioner has advised that he must be satisfied that the lender is happy 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 lender are the client. Your lawyer must comply with the UK Finance Lenders’ Handbook requirements. The UK Finance Lenders’ Handbook conditions require your lawyer to disclose issues such as defects with the lease so that the bank 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.
This question may be naive but I am wet behind the ears as FTB of a ground floor flat in Pontefract. Do I receive the keys to the house on completion from my conveyancer? If this is the case, I will use a High Street conveyancing solicitor in Pontefract?
On the day of completion you will not be required to go to the conveyancers office in Pontefract. Conveyancing lawyers for you will electronically transfer the completion advance to the seller's conveyancers, and shortly after the monies have arrived, you will be called to collect the keys from the Estate Agents and move into your new home. This tends to happen early afternoon.
I am planning to move house in November. Should my conveyancing solicitor call the removal company on the day of completion. Incidentally, can you recommend a removal company in Pontefract. Conveyancing firm was found prior to coming across this site.
On the day of completion you will need to pick up the house keys from your selling agent but this should only happen when the vendors lawyers confirm to the agent that they acknowledge receipt of the completion payment and the keys can be released. After that you will need to inform the removal company that you are ready to move in. As a matter of policy we do not suggest a specific removal organisation but can assist you in choosing a residential property solicitor in Pontefract or a solicitor with expertise in conveyancing in Pontefract.
I am expecting a DIP from Kent Reliance this week so we know how much we could potentially offer as otherwise we only have online calculators to go by (which aren't taking into account credit checks etc). Do Kent Reliance recommend any Pontefract solicitors on the Kent Reliance conveyancing panel, or is it better to go independently?
You will need to appoint Pontefract solicitors independently although you'll need to choose one on the Kent Reliance conveyancing panel. The solicitor represents both you and Kent Reliance through the process.
Should our lawyer be making enquiries regarding flooding during the conveyancing in Pontefract.
Flooding is a growing risk for solicitors specialising in conveyancing in Pontefract. There are those who purchase a house in Pontefract, fully aware that at some time, it may be flooded. However, aside from the physical damage, if a house is at risk of flooding, it may be difficult to obtain a mortgage, satisfactory insurance cover, or dispose of the property. Steps can be carried out during the course of a property purchase to forewarn the buyer.
Conveyancers are not qualified to offer advice on flood risk, however there are a number of checks that can be undertaken by the buyer or on a buyer’s behalf which can give them a better understanding of the risks in Pontefract. The conventional set of property information forms given to a purchaser’s lawyer (where the solicitors are adopting what is known as the Conveyancing Protocol) incorporates a usual inquiry of the vendor to find out if the property has suffered from flooding. If the premises has been flooded in past and is not notified by the seller, then a purchaser may issue a compensation claim as a result of such an inaccurate reply. The buyer’s solicitors will also order an enviro search. This should disclose if there is a recorded flood risk. If so, more detailed investigations should be made.
I've recently found out that there is a flying freehold element on a house I have offered on two weeks back in what was supposed to be a quick, chain free conveyancing. Pontefract is the location of the property. Can you offer any assistance?
Flying freeholds in Pontefract are not the norm but are more likely to exist in relation to terraced houses. Even though you don't necessarily need a conveyancing solicitor in Pontefract you must be sure that your lawyer goes through the deeds very carefully. Your bank may require your conveyancing solicitor to take out an indemnity policy. Some of the more diligent conveyancing solicitors in Pontefract 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 premises.
Hoping to buy a property located in Pontefract and I am already nervous. I couldn't find anything specific about Pontefract. Conveyancing will be needed in due course but do you know about the Pontefract area? or perhaps some other tips you can share?
Rather than looking online forget looking online you should go and have a look at Pontefract. In the meantime here are some basic statistics that we found
I am hoping to put an offer on a small detached house that seems to meet my requirements, at a great figure which is making it all the more appealing. I have since discovered that it's a leasehold rather than freehold. I would have thought that there are particular concerns purchasing a house with a leasehold title in Pontefract. Conveyancing advisers have not yet been appointed. Will my lawyers set out the risks of buying a leasehold house in Pontefract ?
Most houses in Pontefract are freehold and not leasehold. This is one of the situations where having a local conveyancer used to dealing with such properties who can help the conveyancing process. We note that you are purchasing in Pontefract in which case you should be looking for a Pontefract conveyancing solicitor and check that they are used to dealing with leasehold houses. As a matter of priority you will need to check the unexpired lease term. As a tenant you will not be entirely free to do whatever you want to the property. The lease will likely included provisions such as requiring the freeholder’sconsent to conduct changes to the property. You may also be required to pay a contribution towards the upkeep of the communal areas where the property is located on an estate. Your lawyer will advise you fully on all the issues.
I invested in buying a 1 bedroom flat in Pontefract, conveyancing having been completed 5 years ago. Can you work out an approximate cost of a lease extension? Corresponding flats in Pontefract with over 90 years remaining are worth £185,000. The average or mid-range amount of ground rent is £65 levied per year. The lease runs out on 21st October 2086
With 61 years left to run we estimate the price of your lease extension to be between £19,000 and £22,000 plus costs.
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 detailed investigations. Do not use this information in a Notice of Claim or as an informal offer. There may be other concerns that need to be considered and you obviously want to be as accurate as possible in your negotiations. Neither should you move forward placing reliance on this information before seeking the advice of a professional.