I have just been advised by my IFA that my Bramley property lawyer is not on the lender Conveyancing panel. How can I be certain if this is indeed the case?
Your first step should be to contact your Bramley lawyer directly. You lawyer should inform you of the situation. If they are not on the panel they may be able to suggest a Bramley conveyancing practice that is on the conveyancing panel for your lender.
We're in Bramley, FTBs purchasing with a mortgage (lender is Lloyds , and our solicitor is on the Lloyds conveyancing panel). How long should the conveyancing process take?
The fact that your lawyer is on the Lloyds conveyancing panel is a help. It would almost certainly delay matters if they were not. However, no solicitor should guarantee a timeframe for your conveyancing, due to third parties outside of your control such as delays caused by lenders,conveyancing search providers or by the other side’s solicitors. The time taken is often determined by the number of parties in a chain.
It has been three months following my purchase conveyancing in Bramley completed. I have checked the Land Registry website which shows that I paid £175,000 when infact I paid £160,000. Why the discrepancy?
The price paid figure is taken from the application to register the purchase. It is the figure included in the Transfer (the legal deed which transfers the premises from one person to the other) and referred to as the 'consideration' or purchase price. You can report an error in the price paid figure using the LR online form. In most cases errors result from typos so at first glance the figure. Do report it so they can double check and advise.
The estate agent has sent us the confirmation of our purchase of a new build flat in Bramley. Conveyancing is daunting at the best of times but I have never purchased a new build flat before. What sort of enquires would be asked in new build conveyancing.
Set out below are examples of a few leasehold new build questions that you may expect your new-build leasehold conveyancing in Bramley
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Investor purchasers must be able to freely grant unsecured tenancies at market rents without requiring any consents. Please supply a car parking plan. Please provide evidence that the form of Lease proposed has been approved by the Land Registry. Where service of notices and proceedings can be at the property demised please confirm that this can be amended to include simultaneous services at the Lessees’ solicitors’ offices where the Lessee from time to time is not resident in the UK - such solicitors may be varied by notice in writing to the Landlord from time to time but otherwise will be as previously specified. Forfeiture - bankruptcy or liquidation must not apply under this provision.
What are the common defects that you come across in leases for Bramley properties?
There is nothing unique about leasehold conveyancing in Bramley. Most leases are individual and drafting errors can result in certain provisions are wrong. The following missing provisions could result in a defective lease:
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Clauses dealing with recovering service charges for expenditure on the building or common parts. Maintenance charge proportions which don’t add up to the correct percentage
A defective lease can cause issues when trying to sell a property as they can affect a potential buyer’s ability to obtain a mortgage. HSBC Bank, Barnsley Building Society, and Clydesdale all have very detailed conveyancing instructions when it comes to what is expected in a lease. Where a lender has been advised by their lawyers that the lease is defective they may refuse to grant the mortgage, obliging the purchaser to pull out.
I purchased a studio flat in Bramley, conveyancing having been completed 4 years ago. Can you please calculate a probable premium for a statutory lease extension? Corresponding flats in Bramley with over 90 years remaining are worth £185,000. The ground rent is £65 invoiced annually. The lease ceases on 21st October 2083
With 59 years left to run the likely cost is going to range between £20,900 and £24,200 as well as costs.
The suggested premium range above a general guide to costs for extending a lease, but we are not able to advice on the actual costs without more detailed investigations. You should not use the figures in tribunal or court proceedings. There are no doubt other issues that need to be taken into account and clearly you should be as accurate as possible in your negotiations. Please do not move forward based on this information before getting professional advice.
When it comes to my conveyancing in Bramley should I be paying VAT on the following: (1) Land reg fee on purchase (2) Pre - completion search fee (3) SDLT E submission on purchase (4) Bank TT fee
(1) Land reg fee on purchase - No (2) Pre - completion search fees -No, (such conveyancing searches are HMLR ones and means £4 and possibly £2 bankruptcy per name on your mortgage) (3) SDLT E submission on your purchase - There is no VAT on Stamp Duty. However if the firm is charging a stamp duty e-submission fee as part of their services - some Bramley conveyancers do - that will incur VAT(4) Bank transfer fee - Yes it is for the property lawyer's time in submitting the funds this way.