Am I correct in assuming that the fact that my solicitor in Wakefield is not on my lender's solicitor panel that there is a problem with the standard of his work?
It would not be wise to jump to that conclusion. There are plenty of plausible explanations. Just recently a report by the solicitors regulator revealed that over three quarters of law firms surveyed had been removed from at least one lender panel. The most common reasons for removal are: (1) lack of transactions (2) the lawyer is a sole practitioner (3) as part of the HSBC panel reduction (4) regulatory contact by SRA (5) accidental removal. If you are concerned you should contact the Wakefield conveyancing firm and ask them why they are no longer on the approved list for your mortgage company.
My husband and I wish to acquire a purpose built flat in Wakefield with a residential mortgage from Alliance & Leicester .We use our Wakefield conveyancing lawyer but Alliance & Leicester informed us her practice is not listed on their approved list of firms. It seems we are left with no choice but to instruct a Alliance & Leicester panel firm or retain our local solicitor and fork out for a Alliance & Leicester panel lawyer to act for them. We feel as though this is unjust; is there anything we can do?
Unfortunately,no. The loan offered to you contains terms and conditions, one of which will be that solicitors needs to be on the Alliance & Leicester approved list. in the past, most banks had large numbers of law firms on their panels: a borrower could find 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. Another option that might be available is for your solicitors to apply to be on the conveyancing panel for Alliance & Leicester
I'm buying a new build house in Wakefield with a mortgage from Alliance & Leicester . The developers would not reduce the price so I negotiated 6k of fixtures and fittings instead. The house builders rep told me not disclose to my solicitor about this side-deal as it will adversely affect my mortgage with the bank. Is this normal?.
All lenders require a Disclosure of Incentives Form from the developer of any new build, converted or renovated property, It is available online from the Lenders’ Handbook page on the CML website. CML form is completed and handed to the lender's surveyor when the inspection is done.
Lenders have different policies on incentives. Some accept none at all, cash or physical, while others will accept cash incentives up to 5%.
Hard to understand why the representative of a builder would be suggesting you withold information from a solicitor when all this will be clearly visible on forms the builder has to supply to its solicitor, the buyer's solicitor and the surveyor.
As co-executor for the estate of my grandfather I am disposing of a house in Cardiff but I am based in Wakefield. My solicitor (approximately 300 kilometers from merequires that I execute a statutory declaration before completion. Could you suggest a conveyancing solicitor in Wakefield who can witness and place their company stamp on the document?
Technically speaking you are unlikely to need to have the documents witnessed by a conveyancing solicitor. Ordinarily any notary public or qualified solicitor will do regardless of whether they are based in Wakefield
My fiance and I may need to sub-let our Wakefield garden flat temporarily due to a career opportunity. We instructed a Wakefield conveyancing firm in 2002 but they have since shut and we did not think at the time get any advice as to whether the lease permits subletting. How do we find out?
A small minority of properties in Wakefield do contain a provision to say that subletting is only allowed with permission. The landlord is not entitled to unreasonably refuse but, in such cases, they would need to review references. Experience dictates that problems are usually caused by unsatisfactory tenants rather than owner-occupiers and for that reason you can expect the freeholder to take up the references and consider them carefully before granting consent.
I purchased a 1 bedroom flat in Wakefield, conveyancing was carried out in 1999. 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? Equivalent flats in Wakefield with an extended lease are worth £190,000. The average or mid-range amount of ground rent is £45 yearly. The lease ends on 21st October 2088
You have 62 years unexpired the likely cost is going to span between £17,100 and £19,800 as well as legals.
The figure that we have given is a general guide to costs for renewing a lease, but we are not able to provide the actual costs without more detailed due diligence. Do not use the figures in tribunal or court proceedings. There are no doubt additional concerns that need to be considered and you obviously should be as accurate as possible in your negotiations. You should not take any other action based on this information before getting professional advice.
My work colleague mentioned that before choosing a conveyancing firm they need approved by your mortgage company. I am a FTB but I have an AIP via Birmingham Midhshires and I already have a family conveyancing solicitor in Wakefield in place. Does Virgin Money need an approved lawyer to be selected? Does a list of panel solicitors even exist so I can appoint a conveyancing lawyer in Wakefield?
You should instruct a solicitor that is on the Virgin Money panel. Just telephone your preferred Wakefield conveyancing lawyer and ask if they are on the Virgin Money panel. If they are not approved you have a number of choices available to you here:
- Complete the deal with your chosen Wakefield lawyer but Virgin Money will need to instruct a conveyancer on their approved panel. This will result in additional charges together with probable delay.
- Get a fresh conveyancing practitioner to act in the purchase, not forgetting to check that they are on the Virgin Money conveyancing panel.
- Appeal to your lawyer to attempt to join the bank panel.