I am selling my flat in Wakefield and the EA has just text me to say that the buyers are appointing a new property lawyer. I am told that this is due to the fact that the lender will only deal with solicitors on their approved list. On what basis would a major mortgage company only deal with certain solicitors rather the firm that they want to choose to handle their conveyancing in Wakefield ?
Lenders have always had panels of law firms that can act for them, but in the last few years big names such as Yorkshire Building Society, have considered and reduced their conveyancing panel– in some cases removing conveyancing firms who have represented them for more than 25 years.
Lending institutions blame a rise in fraud as the reason for the cull – criteria have been narrowed as a smaller panel is easier to maintain. Banks tend not to disclose how many solicitors have been dropped, claiming the information is commercially sensitive, but the Law Society says it is hearing daily from firms that have been removed from panels. Plenty of firms are unaware that they have been dropped until contacted by a borrower who has instructed them as might be the situation in your buyers' case. Your buyers are unlikely to have any sway in the decision.
Can I be sure that the Wakefield conveyancing solicitor on the Nottingham panel is any good?
When it comes to conveyancing in Wakefield getting recommendations is a good start. Before you go ahead, check if they offer a no sale no fee offer. Also, you often get what you pay for - a firm which quotes more, will often provide a better service than one advertising the lowest fees. We would always advocate that you speak with the solicitor handling your transaction.
The mortgage over my property is with Santander for my property in Wakefield. Conveyancing has been completed 12 months ago. In the event that I decide to rent out my property and do not currently have a buy-to-let mortgage do I need to remortgage to a buy-to-let mortgage or inform Santander?
Your original mortgage agreement with Santander will provide that you need their approval prior to renting your property as this is likely to be a breach of Santander’s mortgage conditions. It may be that Santander will allow you to rent out your former home without needing to switch to a buy-to-let mortgage but some lenders will add a surcharge to your mortgage rate to reflect the higher risk. You should contact Santander directly. It should not be necessary to do this via a Santander conveyancing panel lawyer.
I recently had an offer accepted on an apartment in Wakefield. My mortgage broker recommended their conveyancers. I paid an upfront payment of £150. Shortly after, the solicitor contacted me embarrassingly acknowledging that they were not on the RBS conveyancing panel. Am I right in thinking that I should be due a refund?
You should be able to recover this from the law firm if they were not on the RBS panel. They should have asked at the outset which lender you were obtaining a mortgage with. An important lesson to readers of this site is to check that the lawyers are on the appropriate lender panel.
Will our lawyer be asking questions regarding flooding as part of the conveyancing in Wakefield.
The risk of flooding is if increasing concern for lawyers conducting conveyancing in Wakefield. There are those who purchase a house in Wakefield, completely aware that at some time, it may be flooded. However, leaving to one side the physical damage, where a house is at risk of flooding, it may be difficult to obtain a mortgage, satisfactory insurance cover, or dispose of the property. There are steps that can be taken as part of the conveyancing process to forewarn the purchaser.
Lawyers are not best placed to offer advice on flood risk, but there are a numerous searches that can be initiated by the buyer or on a buyer’s behalf which should figure out the risks in Wakefield. The standard information supplied to a purchaser’s solicitor (where the solicitors are adopting what is known as the Conveyancing Protocol) includes a standard question of the vendor to find out whether the property has suffered from flooding. If the premises has been flooded in past and is not revealed by the owner, then a buyer may issue a claim for damages resulting from an inaccurate response. The buyer’s solicitors may also conduct an enviro search. This will higlight whether there is any known flood risk. If so, additional investigations will need to be made.
I am looking for a ground for flat up to £235,500 and found one near me in Wakefield I like with amenity areas and station in the vicinity, however it's only got 51 remaining years left on the lease. I can't really find anything else in Wakefield suitable, so just wondered if I would be making a grave error purchasing a short lease?
If you need a home loan that many years will be an issue. Discount the offer by the amount the lease extension will cost if not already taken into account. If the existing owner has owned the property for a minimum of 2 years you could ask them to start the process of the extension and pass it to you. You can add 90 years to the existing lease term with a zero ground rent applied. You should consult your conveyancing solicitor about this.
What makes your site different to alternative internet conveyancing solicitors when it comes to conveyancing in Wakefield?
At this site secure a fixed fee quote from a Solicitor or Licensed Conveyancer that understands the issues of your conveyancing in Wakefield. As opposed to estate agents and brokerage sites we do not charge firms a fee if you appoint them for your conveyancing in Wakefield
We are soon to purchasing a flat in Wakefield. Conveyancing is not yet done but we wish to keep our purchase price a secret from sites such as Rightmove. what can I do to ensure this is not disclosed?
The Land Registry are legally bound to reveal price sold data on a register of the title for domestic properties countrywide which includes properties in Wakefield. The register of title is an open document, so HMLR would be breaking the law if they failed to permit access to the register.
In essence you can make a request of HMLR to hide the amount paid data but the response would be a No.