We're in Rye, First time buyers purchasing with a mortgage (lender is Yorkshire BS , and our solicitor is on the Yorkshire BS conveyancing panel). How long should the conveyancing process take?
The fact that your lawyer is on the Yorkshire BS conveyancing panel is a help. It would almost certainly delay matters if they were not. However, no conveyancing practitioner 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.
Is it the case that all Rye CQS (Conveyancing Quality Scheme) solicitors are on the RBS conveyancing list of approved solicitors?
Some major lenders now make use of CQS as the starting point for Panel membership such as HSBC and Santander. CQS membership however gives no guarantee to lender panel acceptance. Nevertheless,the CML have indicated that it is likely to become a pre-requisite for firms wishing to remain on their panels.
Is it the case that all Rye solicitor practices on the Virgin Money conveyancing panel are overseen by the Solicitors Regulatory Authority?
As a firm of solicitors, in order to be on the Virgin Money approved list of solicitors they would need to be governed by the Solicitors Regulatory Authority. Many lenders do list licenced conveyancers on their panel in which case such organisation would be regulated by the CLC.
I am currently in the process of buying my council flat in Rye. I have a mortgage agreed with Bank of Ireland. Conveyancing is new to me. 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 Bank of Ireland, you will need to appoint a solicitor on the Bank of Ireland conveyancing panel.
I have justbeen informed that Wolstenholmes have been shut down. They carried out my conveyancing in Rye for a purchase of a freehold house 18 months ago. How can I be sure that the property is in my name in the name of the previous owner?
The quickest way to see if the premises is in your name, you can carry out a search of the land registry (£3.00). You can either do this yourself or ask a law firm to do this for you. If you are not registered you can seek help from one of a number of Rye conveyancing specialists.
I'm purchasing my first flat in Rye with a loan from Aldermore. The developers refused to budge the price so I negotiated 6k of extras instead. The property agent told me not to tell my solicitor about the extras as it could impact my loan with Aldermore. Do I keep my lawyer in the dark?.
All lenders require a Disclosure of Incentives Form from the developer of any new build, converted or renovated property, It is available online from the Lenders’ Handbook page on the CML website. CML form is completed and handed to the lender's surveyor when the inspection is done.
Lenders have different policies on incentives. Some accept none at all, cash or physical, while others will accept cash incentives up to 5%.
Hard to understand why the representative of a builder would be suggesting you withold information from a solicitor when all this will be clearly visible on forms the builder has to supply to its solicitor, the buyer's solicitor and the surveyor.
My business partner and I are looking to lease a unit on a shopping parade. Can you recommend solicitors offering competitive costs for commercial conveyancing in Rye for under £2000?
We can recommend firms who have an in-depth of experience of commercial conveyancing in Rye, including the disposal and acquisition of businesses as well as simply premises. Whether you are looking to buy or dispose of a shop, pub, restaurant, office, retail premises or a whole business we will put you in touch with the right solicitor. As for the costs these will vary based on the structure and complexity of the proposed transaction. Please provide us with your details or call so as to enable us to supply you with a detailed commercial conveyancing quote.
I've found a house that appears to be perfect, at a reasonable price which is making it all the more appealing. I have since found out that the title is leasehold rather than freehold. I am assuming that there are particular concerns buying a leasehold house in Rye. Conveyancing solicitors have are soon to be instructed. Will they explain the issues?
The majority of houses in Rye are freehold rather than leasehold. This is one of the situations where having a local conveyancer used to dealing with such properties who can help the conveyancing process. It is clear that you are buying in Rye in which case you should be shopping around for a Rye conveyancing solicitor and check that they are used to advising on leasehold houses. First you will need to check the number of years remaining. As a leaseholder you will not be entirely free to do whatever you want with the house. The lease will likely included provisions such as requiring the freeholder’sconsent to conduct alterations. You may also be required to pay a maintenance charge towards the maintenance of the estate where the house is located on an estate. Your solicitor should appraise you on the various issues.
I inherited a 1 bedroom flat in Rye, conveyancing having been completed 9 years ago. Can you let me have an estimate of the premium that my landlord can legally expect in return for granting a renewal of my lease? Comparable properties in Rye with a long lease are worth £197,000. The ground rent is £55 levied per year. The lease terminates on 21st October 2079
With just 55 years unexpired we estimate the price of your lease extension to span between £31,400 and £36,200 as well as professional fees.
The figure above a general guide to costs for renewing a lease, but we cannot give you a more accurate figure without more detailed investigations. Do not use this information in a Notice of Claim or as an informal offer. There are no doubt additional concerns that need to be considered and you obviously want to be as accurate as possible in your negotiations. You should not take any other action placing reliance on this information before seeking the advice of a professional.