My husband and I are intent on buying an apartment in Beverley. My Conveyancer is not listed on the mortgage company conveyancing list. Can I still appoint my Beverley conveyancing solicitor even though they are not on the mortgage company list of approved lawyers?
You have a number of choices available to you here
- Proceed with your existing Beverley conveyancing practitioner but your mortgage company will need to appoint a lawyer on their approved panel. The net result is additional charges and likely frustration.
- Appoint a fresh lawyer to conduct the conveyancing, obviously checking they are on the lender conveyancing panel.
- Appeal to your lawyer to attempt to join the mortgage company panel
Please explain the implications if my solicitor is suspended from the Bank of Ireland Solicitor panel ahead of completing my conveyancing in Beverley?
First, this is a very rare occurrence. In most cases even where a law firm is removed off of a panel the lender would allow the completion to go ahead as the lender would appreciate the difficulties that they would place you in if you have to instruct a new solicitor days before completion. In a worst case scenario where the lender insists that you instruct a new firm then it is possible for a very good lawyer to expedite the conveyancing albeit that you may pay a significant premium for this. The analogous situation is where a buyer instructs a lawyer, exchanges contracts and the law firm is shut down by a regulator such as the SRA. Again, in this situation you can find lawyers who can troubleshoot their way to bring the conveyancing to a satisfactory conclusion - albeit for a fee.
Do commercial conveyancing searches reveal proposed roadworks that may affect a commercial property in Beverley?
Its becoming the norm that commercial conveyancing solicitors in Beverley will execute a SiteSolutions Highways report as it reduces the time that conveyancers spend in sourcing accurate data on highways that impact buildings and development assets in Beverley. The report sets out definitive data on the adoption status of roads, footpaths and verges, as well as the implication of traffic schemes and the rights of way surrounding a commercial development sites in Beverley.
For every commercial conveyancing transaction in Beverley it is critical to investigate the adoption status of roads surrounding a site. The absence of identifying developments where adoption procedures have not been addressed adequately can result in delays to Beverley commercial conveyancing transactions as well as present a risk to future intentions for the site. These searches are not carried out for residential conveyancing in Beverley.
Is there anything unique about your site and alternative internet conveyancing solicitors for conveyancing in Beverley?
At this site obtain an accurate costs illustration via a Solicitor or Licensed Conveyancer that has a full understanding of the nuances of your conveyancing in Beverley. Unlike many estate agents and brokerage sites we do not have referral arrangements with solicitors. Many agents and online brokers 'recommend' solicitors paying the most per referral, as opposed to the best value conveyancing in Beverley
I am a negotiator for a busy estate agency in Beverley where we have witnessed a number of flat sales put at risk as a result of short leases. I have received conflicting advice from local Beverley conveyancing firms. Can you clarify whether the seller of a flat can start the lease extension formalities for the purchaser on completion of the sale?
As long as the seller has owned the lease for at least 2 years it is possible, to serve a Section 42 notice to start the lease extension process and assign the benefit of the notice to the purchaser. This means that the buyer need not have to wait 2 years for a lease extension. Both sets of lawyers will agree to form of assignment. The assignment needs to be completed before, or simultaneously with completion of the disposal of the property.
An alternative approach is to extend the lease informally by agreement with the landlord either before or after the sale. If you are informally negotiating there are no rules and so you cannot insist on the landlord agreeing to grant an extension or transferring the benefit of an agreement to the buyer.
I own a 1 bedroom flat in Beverley, conveyancing formalities finalised September 1997. Can you please calculate a probable premium for a statutory lease extension? Equivalent properties in Beverley with an extended lease are worth £197,000. The ground rent is £55 invoiced every year. The lease ceases on 21st October 2076
You have 55 years left to run we estimate the premium for your lease extension to range between £31,400 and £36,200 plus legals.
The figure above a general guide to costs for extending a lease, but we cannot give you a more accurate figure in the absence of detailed due diligence. You should not use the figures in tribunal or court proceedings. There may be other concerns that need to be considered and clearly you should be as accurate as possible in your negotiations. You should not move forward based on this information without first getting professional advice.