I am buying residence in Derbyshire. My property lawyer is not listed on the bank solicitor list. Am I still permitted to retain my Derbyshire conveyancing solicitor even though they are not on the lender panel?
You have numerous options available to you here
- Proceed with your existing Derbyshire solicitor but your lender will undoubtedly retain a lawyer on their approved list. This will result in additional fees and likely interruption.
- Choose a fresh conveyancing practitioner to conduct the conveyancing, making sure they are on the mortgage company conveyancing panel.
- Convince your property lawyer to apply to join the mortgage company panel
Can you point me to a directory of Co-operative panel solicitors in Derbyshire on the Council of Mortgage Lender’s Website?
Unfortunately not yet. There is no such directory service on the Council of Mortgage Lenders or Building Society Association websites. Very few banks make their panel listings open the public online. If you are seeking to appoint a Derbyshire conveyancer on the Co-operative please make the most of our tool.
I am expecting a AIP from Skipton this week so we can work out what to offer on a property we like as otherwise we are dependent on web based calculators (which aren't taking into account credit checks etc). Do Skipton recommend any Derbyshire solicitors on the Skipton conveyancing panel, or is it better to go independently?
You will need to appoint Derbyshire solicitors independently although you'll need to choose one on the Skipton conveyancing panel. The solicitor represents both you and Skipton through the process.
I am selling my flat. I had a double glazing fitted in October 2008, but did not receive a FENSA certificate or Building Regulation Certificate. My purchaser’s mortgage company, Nationwide are being a right pain. The Derbyshire solicitor who is on the Nationwide conveyancing panel is saying indemnity insurance will be fine but Nationwide are insisting on a building regulation certificate. Why do Nationwide have a conveyancing panel if they don't accept advice from them?
It is probably the case that Nationwide have referred the matter to their valuer. The reason why Nationwide may not want to accept indemnity insurance is because it does not give them any reassurance that the double glazing was correctly and safely installed. The indemnity insurance merely protects against enforcement action which is very unlikely anyway.
I have been on the look out for a ground for flat up to £305k and identified one near me in Derbyshire I like with a park and transport links in the vicinity, the downside is that it only has 52 years on the lease. I can't really find anything else in Derbyshire in this price bracket, so just wondered if I would be making a grave error purchasing a short lease?
If you need a mortgage the remaining unexpired lease term may be problematic. Discount the offer by the expected lease extension will cost if not already taken into account. If the existing proprietor has owned the premises for at least 2 years you could request that they start the process of the extension and then assign it to you. An additional ninety years can be extended on to the existing lease and have £0 ground rent by law. You should speak to your conveyancing solicitor concerning this matter.
Do you have any top tips for leasehold conveyancing in Derbyshire with the purpose of speeding up the sale process?
- Much of the delay in leasehold conveyancing in Derbyshire can be bypassed where you get in touch lawyers as soon as you market your property and request that they start to collate the leasehold information needed by the buyers’ representatives. A minority of Derbyshire leases require Licence to Assign from the landlord. If this applies to your lease, you should notify your estate agents to make sure that the purchasers obtain financial (bank) and professional references. The bank reference should make it clear that the buyer is able to meet the annual service charge and the actual amount of the service charge should be quoted in the bank’s letter. You will therefore need to provide your estate agents with the actual amount of the service charge so that they can pass this information on to the purchasers or their lawyers. If you are supposed to have a share in the freehold, you should ensure that you are holding the original share certificate. Obtaining a new share certificate is often a lengthy formality and slows down many a Derbyshire conveyancing transaction. If a new share is needed, do contact the company officers or managing agents (if relevant) for this sooner rather than later. Many landlords or Management Companies in Derbyshire levy fees for supplying management packs for a leasehold property. You or your lawyers should find out the fee that they propose to charge. The management pack can be applied for on or before finding a buyer, thus reducing delays. The typical amount of time it takes to obtain the necessary information is three weeks. It is the most usual reason for frustration in leasehold conveyancing in Derbyshire. If there is a history of any disputes with your landlord or managing agents it is essential that these are settled before the property is marketed. The purchasers and their solicitors will be reluctant to purchase a property where a dispute is unresolved. You may need to swallow your pride and pay any arrears of service charge or settle the dispute prior to completion of the sale. It is therefore preferable to have any dispute settled ahead of the contract papers being issued to the buyers’ solicitors. You are still duty bound to disclose details of the dispute to the purchasers, but it is clearly preferable to present the dispute as historic rather than ongoing.
Derbyshire Leasehold Conveyancing - A selection of Queries before buying
Is anyone aware of any major works in the near future that could increase the maintenance costs? It is important to be aware whether changing the roof or some other major work is anticipated that will be shared amongst the leaseholders and will dramatically impact the level of the service fees or require a specific invoice. The prefered form of lease structure is where the freehold title is owned by the leaseholders. In this scenario the leaseholders have being in charge if their destiny and notwithstanding that a managing agent is frequently employed where it is larger than a house conversion, the managing agent acts for the leaseholders themselves.
I have just started marketing my garden flat in Derbyshire.Conveyancing is yet to be initiated however I have recently received a quarterly maintenance charge demand – what should I do?
The sensible thing to do is clear the invoice as usual as all rents and service charges should be apportionedon completion, so you should recover the relevant percentage by the buyer for the period running from after the completion date to the subsequent invoice date. Most managing agents will not acknowledge the buyer unless the service charges have been paid and are up to date so it is important for both buyer and seller for the seller to show that they are up to date. Having a clear account will assist your cause and will leave you no worse off financially