I'm in the process of porting my current residential loan to a BTL Leeds Building Society mortgage. I have been informed by my broker that I need a lawyer for this. I got in contact with my past Noak Hill conveyancing firm who dealt with the legals when I previously bought the house. The costs illustration sent of £575 plus disbursements is surprising as its a refinance than a sale or purchase.
The costs illustration is slightly on the high side. If you are prepared to expend time contrasting quotes you may be able to shave off some of the expense by as much as £100 plus VAT. That being said, if you were content with the legal work the firm provided you maycome to regret choosing an a cheaper solicitor. If is important to check that the firm can also act for Leeds Building Society. You can use our search tool to locate a Noak Hill conveyancing firm on the Leeds Building Society member panel, which can often include conveyancing solicitors in Noak Hill.
My wife and I are nearing an exchange on a house in Noak Hill and my parents have sent the exchange deposit to my conveyancing practitioner. I am now advised that as the deposit has not arrived from me my conveyancing practitioner needs to make a notification to my bank. I am advised that, in also acting for the mortgage company he must advise them that the balance of the purchase price is not just from me. I disclosed to the lender concerning my parents' contribution when I applied for the mortgage, so is it really appropriate for this now to be an issue?
The lawyer is duty bound to clarify with the bank to make sure that they are aware that the balance of the purchase price is not from your own resources. Your solicitor can only notify this to your mortgage company if you agree, failing which, your lawyer must cease to continue acting.
Do I need to pop into the offices of the solicitor to sign the mortgage deed? If so, I will instruct a firm who offer conveyancing in Noak Hill so that I can attend their offices if required.
Whereas this was necessary 15 years ago, the vast majority banks no longer require their conveyancing panel lawyer to witness the mortgagors signature. You will still be obliged to supply ID documents and there are still manifest benefits to choosing a locally based ayer, in your case a conveyancing solicitor in Noak Hill.
It has been five months since my purchase conveyancing in Noak Hill completed. I have checked the Land Registry site 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 residence 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.
Yesterday I discovered that there is a flying freehold element on a property I put an offer in last month in what should have been a simple, chain free conveyancing. Noak Hill is where the house is located. What do you suggest?
Flying freeholds in Noak Hill are unusual but are more likely to exist in relation to terraced houses. Even where you use a solicitor outside Noak Hill you would need to get your solicitor to go through the deeds thoroughly. Your bank may require your conveyancing solicitor to take out an indemnity policy. Some of the more diligent conveyancing solicitors in Noak Hill may decide 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 property.
I've found a house that appears to be perfect, at a reasonable figure which is making it more attractive. I have since found out that the title is leasehold as opposed to freehold. I am assuming that there are particular concerns buying a house with a leasehold title in Noak Hill. Conveyancing solicitors have are soon to be appointed. Will my lawyers set out the implications of buying a leasehold house in Noak Hill ?
Most houses in Noak Hill are freehold and not leasehold. In this scenario it’s worth having a local solicitor who is familiar with the area who can help the conveyancing process. It is clear that you are purchasing in Noak Hill so you should seriously consider shopping around for a Noak Hill conveyancing solicitor and check that they have experience in dealing with leasehold houses. First you will need to check the unexpired lease term. As a lessee you will not be at liberty to do whatever you want with the house. The lease will likely included provisions such as obtaining the freeholder’sconsent to conduct alterations. It may be necessary to pay a maintenance charge towards the maintenance of the estate where the property is located on an estate. Your conveyancer will advise you fully on all the issues.
Following months of dialogue we simply can't agree with our landlord on how much the lease extension should cost for our flat in Noak Hill. Does the Leasehold Valuation Tribunal have jurisdiction to calculate the appropriate figures?
if there is a missing landlord or if there is disagreement about the premium for a lease extension, under the relevant legislation you can apply to the Leasehold Valuation Tribunal to decide the price payable.
An example of a Lease Extension decision for a Noak Hill residence is 37 Lodge Court High Street in November 2013. the decision of the LVT was that the premium to be paid for the new lease was £25,559 This case was in relation to 1 flat. The unexpired lease term was 57.5 years.