My partner and I are approaching an exchange on a property in Shipley and my parents have transferred the exchange deposit to my property lawyer. I am now advised that as the deposit has not arrived from me my lawyer needs to make a notification to my bank. Apparently, in also acting for the bank he must inform them that the balance of the purchase price is coming from anyone other than me. I informed the bank about my parents' contribution when I applied for the mortgage, so is it really appropriate for him to raise this?
The conveyancing practitioner is obliged to check with mortgage company to make sure that they are aware that the balance of the purchase price is not from your own resources. The solicitor can only reveal this to your mortgage company if you agree, failing which, your lawyer must cease to continue acting.
As someone clueless as to conveyancing in Shipley what’s the number one tip you can give me concerning the house moving process in Shipley
Not many law firms or advisers will tell you this but conveyancing in Shipley or throughout England and Wales is an adversarial process. Put another way, when it comes to conveyancing there is lots of opportunity for confrontation between you and other parties involved in the legal transfer of property. For example, the seller, property agent and on occasion a mortgage company. Choosing a lawyer for your conveyancing in Shipley is a critical decision as your conveyancer is your adviser, and is the SOLE party in the process whose responsibility is to act in your legal interests and to keep you safe.
On occasion a potential adversary may attempt to persuade you that it is in your interests to do things their way. For instance, the estate agent may claim to be helping by claiming that your lawyer is wrong. Or your mortgage broker may try to convince you to do something that is contrary to your conveyancers guidance. You should always trust your lawyer above all other parties when it comes to the legal transfer of property.
We wanted to use a conveyancing solicitor in Shipley for our house purchase. Our broker has since notified us that our bank Bank of Scotland won't deal with them. Why is this not regarded as unfair competition?
A mortgage company will insist on a panel solicitor act for it. You would be liable to meet the charges for this. Please make use of our database to get a quote from a solicitor to carry conveyancing in Shipley on the Bank of Scotland member panel.
I completed on my flat on 13 November and my personal details are still not on the land registry website. Any reason for this? My conveyancing solicitor in Shipley expressed confidence that it should be dealt with in a couple of weeks. Are properties in Shipley particularly slow to register?
As far as conveyancing in Shipley registration is no quicker or slower than the rest of the country. As opposed to being determined by geographic area, timeframes can differ subject to the party submitting the application, whether it is in order and whether the Land registry must send notices to any third persons or bodies. At present approximately three quarters of submission are completed within two weeks but some can be subject to longer hold-ups. Historically registration is effected after the purchaser has moved in to the property thus an expedited registration is not always primary concern yet if it is urgent that the the registration takes place urgently then you or your solicitor must communicate with the Registry to express the reasoning for an expedited registration.
We're novice buyers - agreed a price, yet the estate agent told us that the owners will only issue a contract if we instruct their recommended conveyancers as they are insisting on an ‘expedited deal’. Our preferred option is to instruct a local conveyancer with experience of conveyancing in Shipley
We suspect that the seller is not behind this request. Should the vendor require ‘a quick sale', alienating a motivated purchaser is going to damage their objectives. Bypass the agents and go straight to the sellers and explain that (a)you are keen to buy (b)you are excited to move forward, with finances in place © you are chain free (d) you wish to move quickly (e)however you are going to use your preferred Shipley conveyancing lawyers - not the ones that will provide the estate agent a referral fee or achieve conveyancing thresholds set by HQ.
I work for a busy estate agency in Shipley where we have experienced a few flat sales jeopardised due to leases having less than 80 years remaining. I have been given conflicting advice from local Shipley conveyancing firms. Please can you confirm whether the vendor of a flat can instigate the lease extension formalities for the purchaser on completion of the sale?
Provided that the seller has owned the lease for at least 2 years it is possible, to serve a Section 42 notice to start the lease extension process and assign the benefit of the notice to the purchaser. The benefit of this is that the buyer can avoid having to sit tight for 2 years to extend their lease. Both sets of lawyers will agree to form of assignment. The assignment has to be done before, or simultaneously with completion of the disposal of the property.
Alternatively, it may be possible to extend the lease informally by agreement with the landlord either before or after the sale. If you are informally negotiating there are no rules and so you cannot insist on the landlord agreeing to grant an extension or transferring the benefit of an agreement to the buyer.
I acquired a 2 bed flat in Shipley, conveyancing having been completed half a dozen years ago. Can you let me have an estimate of the premium that my landlord can legally expect in return for granting a renewal of my lease? Comparable properties in Shipley with over 90 years remaining are worth £165,000. The average or mid-range amount of ground rent is £50 per annum. The lease ends on 21st October 2103
With 78 years remaining on your lease we estimate the price of your lease extension to range between £7,600 and £8,800 as well as professional fees.
The suggested premium range that we have given is a general guide to costs for extending 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 may be other issues that need to be considered and you obviously should be as accurate as possible in your negotiations. Please do not move forward placing reliance on this information without first getting professional advice.