My wife and I are purchasing a apartment in Barnsley. It might be a silly question but how we can trust a lawyer? On completion day we will need to deposit our life savings 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.
Is it the case that all Barnsley conveyancing solicitors on the Principality conveyancing panel are regulated by the SRA?
As solicitors, in order to be on the Principality approved list of solicitors they would need to be overseen by the Solicitors Regulatory Authority. The majority of mortgage companies do allow licenced conveyancers on their panel and in that case the firms would be overseen by the Council of Licensed Conveyancers.
I can not work out if my lender requires a lease extension. I have called my Barnsley bank branch on numerous occasions and was advised it wasn't a problem and they would lend. My Barnsley conveyancing solicitor - who is on the lender conveyancing panel- telephoned and was told they refuse to lend based on their published requirements. Who do I believe?
Your property lawyer has to follow the Council of Mortgage Lenders’ Handbook Part 2 conditions for your bank. Unless your lawyer obtains specific confirmation in writing that the lender will go ahead, your lawyer has no choice but to refrain from exchanging contract and committing you to the purchase. We would suggest that you ask the mortgage company to contact your lawyer in writing confirming that they will accept the number of years left on the lease.
I've recently found out that there is a flying freehold element on a property I put an offer in a fortnight ago in what should have been a simple, chain free conveyancing. Barnsley is where the house is located. Is there any advice you can impart?
Flying freeholds in Barnsley are not the norm but are more likely to exist in relation to terraced houses. Even where you use a solicitor outside Barnsley you would need to get your solicitor to go through the deeds very carefully. Your bank may require your conveyancing solicitor to take out an indemnity policy. Some of the more diligent conveyancing solicitors in Barnsley may determine that this is not enough and that the deeds be re-written to give you the most up to date legal protection. If so, the next door neighbour also had to sign up to the revised deeds.It is possible that your lender will not accept the situation so the sooner you find out the better. You should also check with your insurance broker as to whether they will insure a flying freehold residence.
We're FTB’s - agreed a price, but the estate agent informed us that the vendor will only proceed if we use their recommended solicitors as they want a ‘quick sale’. We would rather use a local conveyancer who is accustomed to conveyancing in Barnsley
It is unlikely the sellers are behind this. If they desire ‘a quick sale', alienating a genuine purchaser is not the way to achieve this. Contact the owners directly and explain that (a)you are keen to buy (b)you are ready to progress, with finances in place © you are chain free (d) you wish to move quickly (e)but you will continue to use your own,trusted Barnsley conveyancing solicitors - as opposed tothose that will provide their estate agent a introducer fee or achieve conveyancing targets pre-set by HQ.
What are your top tips when it comes to appointing a Barnsley conveyancing firm to deal with our lease extension?
If you are instructing a property lawyer for lease extension works (regardless if they are a Barnsley conveyancing practice) it is most important that they be familiar with the legislation and specialises in this area of conveyancing. We recommend that you speak with two or three firms including non Barnsley conveyancing practices before you instructing a firm. If the firm is ALEP accredited then that’s a bonus. The following questions could be of use:
What are the costs for lease extension conveyancing? How familiar is the firm with lease extension legislation?
I bought a studio flat in Barnsley, conveyancing having been completed May 2007. 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? Similar flats in Barnsley with over 90 years remaining are worth £181,000. The average or mid-range amount of ground rent is £55 invoiced every year. The lease finishes on 21st October 2069
You have 50 years left to run we estimate the premium for your lease extension to range between £32,300 and £37,400 as well as costs.
The suggested premium range that we have given is a general guide to costs for extending a lease, but we are not able to advice on a more accurate figure in the absence of comprehensive investigations. Do not use the figures in a Notice of Claim or as an informal offer. There are no doubt other issues that need to be taken into account and you obviously should be as accurate as possible in your negotiations. Neither should you move forward placing reliance on this information before seeking the advice of a professional.
I happen to be an executor of my recently deceased mum’s Will, with a property in Barnsley which is to be marketed. The house has never been registered at HMLR and I'm told that many buyers solicitors will insist that it is done before they'll proceed. What's the mechanism for this?
In the situation that you have set out it seems prudent to apply to register in the names of the personal representative(s) as named in the probate and in their capacity as PRs. HMLR’s online guidance explains how to register for the first time and what is required re the deeds and forms. You would need to include and official copy of the probate as well and complete the form FR1 to refer to the PRs as the applicant.