My husband and I are buying a 2 bedroom flat in Wakefield with a mortgage. We like our Wakefield lawyer, but the mortgage company says she’s not on their "panel". It appears that we have no choice but to appoint one of the mortgage company panel firms or keep our Wakefield conveyancing practitioner and pay for one of their panel firms to act for them. We feel that this is unjust; can we not demand that the lender use our Wakefield lawyer ?
No, not really. Your mortgage offer is subject to its terms and conditions, one of which will be that lawyers will on the lender’s conveyancing panel. Until recently, most lenders had large numbers of law firms on their panels: a borrower could choose one for themselves, as long as it was on the lender's panel. The lender would then simply instruct the borrower's lawyers to act for the lender, too. You can use your lender's panel lawyers or you could borrow from another lender which does not restrict your choice. A further alternative is for your Wakefield conveyancing solicitor to apply to be on the conveyancing panel.
What is the optimum way to check that the solicitor carrying out my conveyancing in Wakefield is on the mortgage lender’sapproved panel? I am looking to avoid the situation of having one lawyer for me and one for Godiva Mortgages Ltd thus spending £192.00 in another set of conveyancing bill.
Feel free to take advantage of the find a lender approved solicitor tool on this site. Please choose the mortgage company and type ‘Wakefield’ or your location and you will discover a number of lawyer located in Wakefield or nearest you.
Are there restrictive covenants that are commonly picked up as part of conveyancing in Wakefield?
Restrictive covenants can be picked up when reviewing land registry title as part of the process of conveyancing in Wakefield. An 1874 stipulation that was seen was ‘The houses to be erected on the estate are each to be of a uniform elevation in accordance with the drawings to be prepared or approved by the vendor’s surveyor…’
How does conveyancing in Wakefield differ for newly converted properties?
Most buyers of new build residence in Wakefield approach us having been asked by the housebuilder to sign contracts and commit to the purchase even before the property is ready to move into. This is because builders in Wakefield tend to acquire the real estate, 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 property lawyers 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 used to new build conveyancing in Wakefield or who has acted in the same development.
I am looking for a conveyancing lawyer in Wakefield for my sale. Is there any facility to check a firm’s complaints history with the legal regulator?
One may find published Solicitor Regulator Association (SRA) decisions resulting from investigations from 2008 onwards. Go to Check a solicitor's record. For information about the period before 1 January 2008, or to check a solicitors history, ring 0870 606 2555, 08.00 - 18.00 any week day save for Tuesday when lines open at 9.30am. International callers, call +44 (0)121 329 6800. The SRA could recorded telephone calls for training reasons.
I am tempted by the attractive purchase price for a couple of apartments in Wakefield both have about fifty years left on the leases. Will this present a problem?
There are no two ways about it. A leasehold apartment in Wakefield is a deteriorating asset as a result of the shortening lease. The closer the lease gets to zero years unexpired, the more it reduces the value of the premises. For most purchasers and mortgage companies, leases with less than 75 years become less and less attractive. On a more positive note, leaseholders can extend their leases by serving a Section 42 Notice. One stipulation is that they must have owned the premises for two years (unlike a Section 13 notice for purchasing the freehold, when leaseholders can participate from day one of ownership). When successful, they will have the right to an extension of 90 years to the current term and ground rent is effectively reduced to zero. Before moving forward with a purchase of a residence with a short lease term remaining you should talk to a solicitor specialising in lease extensions and leasehold enfranchisement. We are are happy to put you in touch with Wakefield conveyancing experts who will explain the options available to you during an initial telephone conversation free of charge. A more straightforward and quicker method of extending would be to contact your landlord directly and sound him out on the prospect of extending the lease. They may agree to a smaller lump sum and an increase in the ground rent, but to shorter extension terms in return. You need to ensure that any new terms represent good long-term value compared with the standard benefits of the Section 42 Notice and that onerous clauses are not inserted into any redrafting of the lease.
Leasehold Conveyancing in Wakefield - Examples of Questions you should ask before Purchasing
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Many Wakefield leasehold apartments will have a service charge for maintenance of the building invoiced on behalf of the landlord. Where you purchase the flat you will have to pay this liability, usually in instalments throughout the year. This could differ from several hundred pounds to thousands of pounds for large purpose-built buildings. In all likelihood there will be a ground rent for you to pay annual, this is usually not a exorbitant figure, say about £50-£100 but you need to check as occasionally it can be surprisingly expensive. The answer will be useful as a) areas can result in problems for the block as the communal areas may begin to deteriorate if repairs are not paid for b) if the leasehold owners have a dispute with the managing agents you will need to have all the details Make sure you enquire if there are any onerous prohibitions in the lease. For instance plenty of leases prohibit pets being permitted in certain buildings in Wakefield. If you like the propertyin Wakefield yet your cat can’t move with you then you have a very hard compromise.