Our solicitor has identified a a legal deficiency with the lease for the apartment we are buying in Wakefield. The other side have offered title insurance as a workaround. We are content with insurance and will pay for it. Our conveyancing practitioner says that he must check that the lender is content with this solution. Who is the client here, us or the lender?
The short answer to your last question is that, notwithstanding the risk of a conflict of interest, you and the bank are the client. Your lawyer must comply with the UK Finance Lenders’ Handbook specifications. The UK Finance Lenders’ Handbook conditions require your lawyer to disclose issues such as defects with the lease so that the bank can be afforded the opportunity to check with their valuer as to the extent that the value of the property is affected. Should you refuse to allow your lawyer to make the appropriate notification then your lawyer will have no choice but to discontinue acting for you.
My aunt passed away six months ago and as sole heir and executor I was left the property in Wakefield. The house had a relatively small loan remaining of approximately £8000. I want to transfer the title deeds into my name whilst I re-mortgage to HSBC, pay off the mortgage. Is this allowed?
Given you plan to re-mortgage then HSBC will insist on your using a conveyancer on the HSBC conveyancing panel. Here is link to the Land Registry online guidance around what to do when a property owner dies. This will help you to understand the registration process behind changing the details re the registered title. in your case it would appear that you are effectively purchasing the property from the estate. Your HSBC conveyancing panel solicitor pays the new mortgage money into the estate, the estate pays off the old mortgage, the charge is released and you become the owner and the HSBC mortgage is registered as a charge at the Land Registry.
My wife and I are buying a flat in Wakefield. It might be a silly question but how we can trust a conveyancer? On the day of competition we will need to send money into their account. What protection do we have from them run away with our deposit?
Be assured that all money in a Solicitors client account is 100% safe, and even if your Solicitor ran off with it, the Law Society would reimburse you fully.
What is your number one tip for choosing a conveyancing solicitor in Wakefield
It would be unwise to be seduced by the lowest Wakefield conveyancing quote. You really do get what you’re paying for when it comes to conveyancing solicitors. A cheap quote may mean that the conveyancing solicitor is handling a lot of jobs at one time and you won’t get the quality of service and the attention that you need. It is, however, wise to use a conveyancer who has a fixed fee on a no sale, no fee basis. This way, you go into the conveyancing with your eyes wide open.
Does a directory service exist listing Nottingham panel solicitors in Wakefield on the Building Society Association’s Website?
No. There is no such facility on the CML or Building Society Association websites. A small selection of mortgage companies make their panel listings available online. If you are looking for a Wakefield conveyancing practitioner on the Nottingham please use our facility.
I note that there are debates on Chancel Insurance on online forums. Do I require chancel insurance when buying a residence in Wakefield? or Apparently there is a law dating back centuries that means some house owners residing in a parish church boundary may be liable to contribute towards maintenance towards the chancel in proximity to the church. Is this appropriate for conveyancing in Wakefield?
Unless a previous acquisition of the premises completed after 12 October 2013 you could expect lawyers carrying out conveyancing in Wakefield to remain encouraging a chancel search and or insurance against a claim.
Are there restrictive covenants that are commonly identified during conveyancing in Wakefield?
Restrictive covenants can be picked up when reviewing land registry title as part of the legal transfer of property 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…’
If all goes to plan we aim to complete our sale of a £475,000 flat in Wakefield next Thursday. The landlords agents has quoted £396 for Landlord’s certificate, insurance certificate and previous years service charge statements. Is it legal for a freeholder to charge exorbitant fees for a leasehold conveyance in Wakefield?
Wakefield conveyancing on leasehold apartments usually necessitates the buyer’s solicitor sending enquiries for the landlord to address. Although the landlord is not legally bound to answer these enquiries the majority will be content to assist. They are at liberty to charge a reasonable administration fee for answering enquiries or supplying documentation. There is no set fee. The average fee for the paperwork that you are referring to is over three hundred pounds, in some cases it is in excess of £800. The administration charge required by the landlord must be accompanied by a synopsis of entitlements and obligations in respect of administration fees, without which the charge is technically not due. Reality however dictates that you have little option but to pay whatever is requested of you should you wish to complete the sale of your home.
Wakefield Conveyancing for Leasehold Flats - A selection of Queries before buying
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Does the lease contain onerous restrictions? How much is the maintenance charge and ground rent on the flat? The prefered form of lease arrangement is a share of the freehold. In this situation the lessees benefit from control and even though a managing agent is usually retained where it is bigger than a house conversion, the managing agent acts for the leaseholders themselves.