My fiance and I are looking to acquire a home in Ripponden and are in fact using a Ripponden conveyancing firm. Within the last couple of days our property lawyer has sent a preliminary report and documents to look through with a view to exchanging next week. Alliance & Leicester have this morning contacted us to advise us that they have now hit a problem as our Ripponden solicitor is not on their approved list of lawyers. Please explain?
When purchasing a property with the benefit of a mortgage it is normal for the purchasers' lawyers to also act for 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 Accreditation Scheme. Your solicitor 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 are not legally obliged to appoint a law firm on the bank's conveyancing panel and you may continue to use your own Ripponden solicitors, in which case your legal fees may increase, and it will likely delay the transaction as you are adding another lawyer into the mix.
My brother and I have just acquired a house in Ripponden. We have noticed several problems with the property which we believe were overlooked in the conveyancing searches. Do we have any recourse? What searches should? have been carried out as part of conveyancing in Ripponden?
It is not clear from the question as what problems have arisen and if they are relate to conveyancing in Ripponden. Conveyancing searches and investigations initiated during the legal transfer of property are carried out to help avoid problems. As part of the process, a property owner answers a form referred to as a SPIF. answers provided is inaccurate, you could possibly take legal action against the seller for any losses that you have suffered. The survey should have identified any problems with the structure of the property. Assuming a detailed survey was carried out and the issues were not identified, you may have a claim against the surveyor. However, if you did not have a full survey, you may be responsible for fixing any defects that have now been noted. We would always encourage buyers to take every possible step to ensure they are completely aware of the condition of a property before purchase regardless of whether they are buying in Ripponden.
It is is a decade since I acquired my home in Ripponden. Conveyancing lawyers have just been instructed on the sale but I can't locate the title documents. Is this a major issue?
Don’t worry too much. First the deeds may be retained by the lender or they may be in the possession of the solicitor who acted in the purchase. Secondly the likelihood is that the land will be recorded at the land registry and you will be able to prove you own the property by your conveyancing lawyers obtaining up to date copy of the land registers. Most conveyancing in Ripponden involves registered property but in the unlikely event that your home is unregistered it is more tricky but is resolvable.
When it comes to mortgage companies such as Nationwide, do Ripponden lawyers incur an annual charge to be on the list of approved solicitors?
We are not aware of any bank fees to be on their panel, although some do levy an administration charge to deal with the processing of the conveyancing panel submission.
Last month we had a mortgage agreed in principle with Leeds Building Society. Ripponden conveyancing lawyers are instructed. How long does it take for Leeds Building Society to issue the offer to the conveyancer?
There is no definitive answer here. Have Leeds Building Society conducted the valuation? Have you advised Leeds Building Society as to your lawyers' details and checked that your lawyers are on the Leeds Building Society conveyancing panel? Sometimes it can take as long as six weeks for a mortgage offer to be issued.
I am currently in the process of buying my council flat in Ripponden. I have a mortgage agreed with HSBC. Conveyancing is new to me. Can I proceed without a solicitor easily? I think we can but we keep being told I should have 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 HSBC, you will need to appoint a solicitor on the HSBC conveyancing panel.
We are one month into a leasehold purchase having been recommend to conveyancers by the selling agent to perform conveyancing in Ripponden. We are not happy. Could you you assist me in finding new lawyers?
A solicitor would have to be very bad to suggest diss instructing them. Has your mortgage been issued? If so you will need to advise them of the new solicitor and get the loan are issued to the new lawyers. Your solicitor ideally should be on the banks panel to avoid added charges and delays. That should be your starting point. Our find a solicitor tool can help you find a bank approved solicitor for your conveyancing in Ripponden
I am looking at a couple of apartments in Ripponden which have approximately 50 years remaining on the leases. Do I need to be concerned?
There are plenty of short leases in Ripponden. The lease is a right to use the premises for a prescribed time frame. As a lease gets shorter the value of the lease decreases and it becomes more expensive to acquire a lease extension. This is why it is often a good idea to extend the lease term. More often than not it is difficulties arise selling premises with a short lease because mortgage companies less inclined to grant a loan on such properties. Lease extension can be a protracted process. We advise that you seek professional assistance from a solicitor and surveyor with experience in this area.
I inherited a 1st floor flat in Ripponden, conveyancing formalities finalised September 1995. How much will my lease extension cost? Corresponding properties in Ripponden with over 90 years remaining are worth £179,000. The average or mid-range amount of ground rent is £65 levied per year. The lease expires on 21st October 2082
With 57 years remaining on your lease the likely cost is going to be between £26,600 and £30,800 plus plus your own and the landlord's "reasonable" professional fees.
The suggested premium range above a general guide to costs for renewing a lease, but we cannot give you a more accurate figure in the absence of comprehensive investigations. Do not use this information in tribunal or court proceedings. There are no doubt other issues that need to be considered and you obviously should be as accurate as possible in your negotiations. You should not move forward based on this information without first seeking the advice of a professional.