We see that you have a search directory listing law firms on the Yorkshire BS conveyancing panel. Do companies pay you a commission if I instruct them for our conveyancing in Upton?
We are a listing service only for law firms wishing to communicate if they are on the Yorkshire BS conveyancing panel or other lender panels. We do not charge referral fees to any conveyancer that you subsequently appoint for your conveyancing in Upton.
Can you clarify what the consequences are if my solicitor is suspended from the RBS Conveyancing panel ahead of completing my conveyancing in Upton?
First, this is a very rare occurrence. In most cases even where a law firm is removed off of a panel the lender would allow the completion to go ahead as the lender would appreciate the difficulties that they would place you in if you have to instruct a new solicitor days before completion. In a worst case scenario where the lender insists that you instruct a new firm then it is possible for a very good lawyer to expedite the conveyancing albeit that you may pay a significant premium for this. The analogous situation is where a buyer instructs a lawyer, exchanges contracts and the law firm is shut down by a regulator such as the SRA. Again, in this situation you can find lawyers who can troubleshoot their way to bring the conveyancing to a satisfactory conclusion - albeit at a cost.
I am the only recipient of my late father’s will and I have everything in my name alone, including the house in Upton. The Upton property was put into my name in November. I now wish to sell up. I do know about the Mortgage Lenders 6 month 'rule', which means that my property ownership may be considered the same way as though I had purchased the house in November. Is the property unsalable for six months?
The CML handbook mandates solicitors to: "report to us immediately if the owner or registered proprietor has been registered for less than six months." Technically you could be affected by that. How sensible a view mortgage companies take of it, depend on the bank as this requirement primarily exists to pick up on subsales or the wholesaling and assigning of property.
I am purchasing a property in Upton. A rare aspect is that the roof has a solar panel. Bank of Ireland have issued a mortgage offer so presumably this is not a concern to them. Why is my solicitor raising questions about the panel?
Given that your lender is Bank of Ireland your lawyer must comply with the conveyancing requirements contained in Section two of UK Finance Lenders’ Handbook for Bank of Ireland. The CML Handbook sets out minimum specifications for solar panel roof-space leases, and conveyancing practitioners are required to report to Bank of Ireland where a lease does not meet these conditions. The specifications relate to the installation of panels on properties in England and Wales and is not restricted to Upton.
Our offer on a property in Upton has been accepted, but there is a chain. The owners have placed an offer on somewhere, however it’s not yet agreed to, and have viewings of other flats in the pipeline. I have selected a high street conveyancing solicitor in Upton. What should be my next step? When do I get the mortgage application with Principality started?
It is understandable to have anxieties where there is a chain as you are unlikely to want to be too out of pocket too early (mortgage application is approx one thousand pounds, then survey, Upton conveyancing search fees, etc). The first course of action is to check that your property lawyer is on the Principality conveyancing panel. Concerning the next steps this very much dictated by the specifics of your transaction, desire for the property and on the state of the market. In a buoyant market some buyers will apply for a home loan with Principality and pay for the valuation and only if it comes back ok would they ask their conveyancing practitioner to proceed with the conveyancing in Upton.
Should I instruct a Upton conveyancing lawyer based in the vicinity that I am hoping to buy? I have an old university friend who can handle the legal work but his firm is located 200miles away.
The benefit of a high street Upton conveyancing firm is that you can visit the firm to execute documents, deliver your identification documents and apply pressure on them where appropriate. They will also have local intelligence which is a benefit. However nothing is more important than finding someone that will do a good and efficient job. If you know people who used your friend and they were impressed that must surpass using an unfamiliar Upton conveyancing solicitor solely due to them being based in the area.
I am a negotiator for a busy estate agent office in Upton where we have witnessed a number of flat sales jeopardised due to short leases. I have received inconsistent advice from local Upton conveyancing solicitors. Could you shed some light as to whether the seller of a flat can start the lease extension process for the purchaser on completion of the sale?
Provided that the seller has been the owner for at least 2 years it is possible, to serve a Section 42 notice to commence 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 for a lease extension. Both sets of lawyers will agree to form of assignment. The assignment needs to be completed prior to, or at the same time as completion of the sale.
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 have tried to negotiate informally with with my landlord for a lease extension without any joy. Can the Leasehold Valuation Tribunal adjudicate on such issues? Can you recommend a Upton conveyancing firm to assist?
Absolutely. We can put you in touch with a Upton conveyancing firm who can help.
An example of a Lease Extension decision for a Upton premises is Various @ Colombus Square in January 2012. the Tribunal calculated the premiums to be paid for new leases for each of the flats in Mariners Walk to be £3822 and the premium to be paid for the new lease of 2 Knights Court to be £4439. This case was in relation to 13 flats. The unexpired term as at the valuation date was 76 years.
Why do I have to provide my property lawyer with a list of items of ID ahead of starting selling or buying a property in Upton?
Upton lawyers are obliged by the Law Society, Solicitors Regulation Authority, HMLR and current Money Laundering Regulations to record that the have verified the identity of their clients. It is also sometimes a requirement of your mortgage offer. Furthermore they have to complete various forms, particularly those relating to Land Tax and need to have information such as your full names, national insurance number and DOB.