My wife and I are looking to purchase a property in Sheffield and are in fact using a Sheffield 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. TSB have this evening contacted us to inform me that they have now hit a problem as our Sheffield conveyancer is not on their conveyancing panel. What do we do from here?
When purchasing a property with mortgage finance it is usual 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 solicitor should contact your bank 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 and you may continue to use your own Sheffield solicitors, in which case it will likely add costs, and it will likely delay the transaction as you have another set of people involved.
What is the first thing I need to know concerning purchase conveyancing in Sheffield?
You may not hear this from too many lawyers but conveyancing in Sheffield and elsewhere in England and Wales is an adversarial experience. Put another way, when it comes to conveyancing there is lots of opportunity for friction between you and other parties involved in the legal transfer of property. For example, the vendor, property agent and sometimes the lender. Choosing a solicitor for your conveyancing in Sheffield an important selection as your conveyancer is your adviser, and is the SOLE party in the transaction whose role it is to act in your best interests and to keep you safe.
On occasion a third party with a vested interest will try and convince you that it is in your interests to do things their way. For example, the selling agent may claim to be assisting by suggesting your solicitor is wrong. Or your mortgage broker may tell you to do something that is contrary to your lawyers guidance. You should always trust your lawyer above all other parties when it comes to the legal transfer of property.
My husband and I have arranged the release of further monies on our mortgage from Principality as we intend to conduct renovations to our home in Sheffield. Are we obliged to choose a bricks and mortar Sheffield solicitor on the Principality conveyancing panel to deal with the paperwork?
Principality would not normally appoint firms on their approved list of lawyers to deal with the formalities. If they do require any legal work then you would need to ensure that such a lawyer was on the Principality conveyancing panel.
My husband and I are at the point of viewing houses in Sheffield and I am now considering a potential offer. Is it too early to have a solicitor in place? I am planning to take a mortgage with Barclays.
You should start requesting conveyancing quotes from solicitors ASAP. After you have chosen your lawyer and once your offer is accepted you can instruct them to work for you and pass their contact information on to the EA. Given that you are seeking a mortgage with Barclays, ask your prospective lawyers if they are on the Barclays conveyancing panel otherwise they can't do the mortgage legal work.
I am currently in the process of buying my council flat in Sheffield. I have a mortgage agreed with Santander. Conveyancing is not something I have any knowledge of. 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 Santander, you will need to appoint a solicitor on the Santander conveyancing panel.
The deeds to my property can not be found. The conveyancers who dealt with the conveyancing in Sheffield 4 years ago are no longer around. What do I do?
Gone are the days when you need to have the physical deeds to prove you are the registered proprietor of land or property, as the Land Registry have everything they need in a digital format.
How does conveyancing in Sheffield differ for new build properties?
Most buyers of new build premises in Sheffield contact us having been asked by the builder to sign contracts and commit to the purchase even before the premises is built. This is because developers in Sheffield tend to acquire the site, 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 Sheffield or who has acted in the same development.
I am looking for a leasehold apartment up to £245,000 and found one near me in Sheffield I like with open areas and station nearby, however it only has 51 remaining years left on the lease. There is not much else in Sheffield for this price, so just wondered if I would be making a mistake acquiring a lease with such few years left?
If you require a mortgage the remaining unexpired lease term will likely be problematic. Reduce the offer by the amount the lease extension will cost if not already taken into account. If the existing proprietor has owned the premises for at least twenty four months you could ask them to start the process of the extension and then assign it to you. You can add 90 years to the existing lease and have £0 ground rent by law. You should consult your conveyancing solicitor about this matter.