My financial adviser says he needs my Leeswood solicitor’s panel member for the Lloyds conveyancing panel. How do I discover this. I have contacted my local Leeswood office but they have not got back to me yet.
You are best placed to get this information from your Leeswood conveyancing practitioner . They keep a central record lender panel numbers.
Do the Building Society Association intend to launch a search tool with a view to to identify solicitors on the Norwich and Peterborough Building Society conveyancing panel for instance in Leeswood?
We are not aware of any plans on the part of the BSA to promote such a tool.
I am the only beneficiary of my late grandmother’s will with all property in now in my sole name, including the house in Leeswood. The Leeswood property was put into my name in June. I want to move. I do know about the Mortgage Lenders six month 'rule', meaning my property ownership will be considered the same way as if I'd bought the house in June. Is the property unsalable for six months?
The CML handbook requires solicitors to: "report to us immediately if the owner or registered proprietor has been registered for less than six months." By the strict wording you may be caught by that. many lenders would take a sensible view as this obligation is principally there to identify subsales or the quick reselling of properties.
Is it the case that all Leeswood solicitors on the TSB conveyancing panel are overseen by the Solicitors Regulatory Authority?
As solicitors, in order to be on the TSB approved list of solicitors they would need to be regulated by the SRA. The majority of lenders do permit licenced conveyancers on their panel and in that case the organisation would be governed by the CLC.
I have decided to exercise my right to buy my property in Leeswood off the council. I have a mortgage agreed with Yorkshire BS. Conveyancing is not something I have any knowledge of. Can I proceed without a solicitor easily? I think we can but we keep being told I should have one. Any advice?
It is not advisable to proceed with a house purchase without a solicitor. The council's solicitor are not acting for you. You need a solicitor for a number reasons. One of which is to verify what plans the Council have for repairs and refurbishment for the next five years. Many leaseholders have been stung for contributions of thousands of pounds. In any event, if you are getting a mortgage with Yorkshire BS, you will need to appoint a solicitor on the Yorkshire BS conveyancing panel.
Do I need to pay for insurance to cover chancel repairs when buying a residence in Leeswood?
Unless a previous acquisition of the house completed after 12 October 2013 you may take it that lawyers carrying out conveyancing in Leeswood to continue to advocate a chancel search and or chancel repair liability policy.
I am a negotiator for a reputable estate agency in Leeswood where we see a few flat sales jeopardised as a result of leases having less than 80 years remaining. I have received inconsistent advice from local Leeswood conveyancing solicitors. Please can you clarify whether the vendor of a flat can start the lease extension process for the purchaser on completion of the sale?
As long as the seller has been the owner 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 can avoid having to wait 2 years for a lease extension. Both sets of lawyers will agree to form of assignment. The assignment has to be done before, or at the same time as completion of the sale.
Alternatively, it may be possible 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 purchaser.
I invested in buying a 1 bedroom flat in Leeswood, conveyancing having been completed half a dozen years ago. Can you give me give me an indication of the likely cost of a lease extension? Equivalent flats in Leeswood with over 90 years remaining are worth £201,000. The ground rent is £45 invoiced annually. The lease terminates on 21st October 2083
You have 64 years left to run we estimate the price of your lease extension to range between £15,200 and £17,600 plus legals.
The figure that we have given is a general guide to costs for renewing a lease, but we cannot give you a more accurate figure without more comprehensive due diligence. You should not use the figures in a Notice of Claim or as an informal offer. There are no doubt other concerns that need to be considered and clearly you want to be as accurate as possible in your negotiations. Neither should you move forward based on this information before getting professional advice.