My husband and I are intending to purchase a 2 bedroom flat in Gomersal with a mortgage. We like our Gomersal solicitor, however the mortgage company advise she’s not on their "panel". It seems we have no choice but to use one of the lender panel conveyancing practices or keep our Gomersal conveyancer and pay for one of their panel lawyers to represent them. We regard this is unjust; can we not demand that the lender use our Gomersal solicitor ?
No, not really. Your mortgage offer is subject to its terms and conditions, one of which will be that lawyers will on the lender’s conveyancing panel. Until recently, most lenders had large numbers of law firms on their panels: a borrower could choose one for themselves, as long as it was on the lender's panel. The lender would then simply instruct the borrower's lawyers to act for the lender, too. You can use your lender's panel lawyers or you could borrow from another lender which does not restrict your choice. Another option that might be available is for your Gomersal conveyancing solicitor to apply to be on the conveyancing panel.
Have completed on a a terraced house in Gomersal , What is the estimated time for the Land Registry to register the transfer to my name? My Gomersal conveyancing solicitor has been painfully slow, so I want to check that my name is registered.
There is nothing unique when it comes to conveyancing in Gomersal registration formalities. Rather than based on location, timescales can adjust subject to who lodges the application, whether there are errors and if the Land registry have to notify any other persons or bodies. At present roughly 80% of submission are fully dealt with within two weeks but occasionally there can be protracted delays. Historically registration takes place after the buyer is living at the property so an expedited registration is not usually top priority but if it is urgent that the the registration takes place urgently then you or your lawyers must communicate with the Registry to express the reasoning for an expedited registration.
I'm buying a new build house in Gomersal benefiting from help to buy. The builders would not reduce the price so I negotiated 6k of additionals instead. The property agent advised me not inform my lawyer about this deal as it may affect my loan with Leeds Building Society. Is this normal?.
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.
I've recently found out that there is a flying freehold issue on a house I put an offer in last month in what should have been a straight forward, chain free conveyancing. Gomersal is the location of the property. Can you offer any opinion?
Flying freeholds in Gomersal are rare but are more likely to exist in relation to terraced houses. Even where you use a solicitor outside Gomersal 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 Gomersal may ascertain 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 residence.
I am a couple of weeks into a leasehold purchase having been recommend to conveyancers by the local agent to do our conveyancing in Gomersal. I am am very disappointed with the quality of service. Can you help me find new conveyancers?
A solicitor would have to be really bad to suggest replacing them. Has your mortgage been generated? If so you must inform them of the replacement conveyancer and get the offer are re-sent. Your new solicitor ideally needs to be on the lenders approved list to avoid escalating expenses and frustration. So that should be your first question of the new solicitors. Our search tool will assist you in finding a lender approved solicitor for your conveyancing in Gomersal
Can you provide any top tips for leasehold conveyancing in Gomersal from the point of view of saving time on the sale process?
- Much of the frustration in leasehold conveyancing in Gomersal can be reduced if you appoint lawyers the minute your agents start marketing the property and request that they start to collate the leasehold information needed by the buyers’ conveyancers. Many freeholders or Management Companies in Gomersal charge for providing management packs for a leasehold premises. You or your lawyers should find out the fee that they propose to charge. The management pack sought on or before finding a buyer, thus accelerating the process. The typical amount of time it takes to obtain the necessary information is three weeks. It is the most frequent reason for frustration in leasehold conveyancing in Gomersal. If you have the benefit of shareholding in the Management Company, you should make sure that you are holding the original share certificate. Organising a re-issued share certificate can be a time consuming process and slows down many a Gomersal home move. If a new share is needed, you should approach the company officers or managing agents (if applicable) for this sooner rather than later. Some Gomersal leases require Landlord’s consent to the sale and approval of the buyers. If this applies to your lease, you should place the estate agents on notice to make sure that the purchasers obtain 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 service charge figures so that they can pass this information on to the purchasers or their lawyers. If there is a history of conflict with your freeholder or managing agents it is very important that these are settled before the property is marketed. The purchasers and their solicitors will be concerned about purchasing a flat where there is an ongoing dispute. You may need to swallow your pride and discharge 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 particulars of the dispute to the purchasers, but it is clearly preferable to reveal the dispute as over rather than ongoing.
I own a basement flat in Gomersal, conveyancing having been completed in 1997. Can you work out an approximate cost of a lease extension? Comparable properties in Gomersal with an extended lease are worth £202,000. The average or mid-range amount of ground rent is £60 yearly. The lease comes to an end on 21st October 2083
With only 57 years left to run we estimate the premium for your lease extension to span between £28,500 and £33,000 plus costs.
The suggested premium range above a general guide to costs for extending a lease, but we cannot give you the actual costs without more comprehensive due diligence. Do not use the figures in a Notice of Claim or as an informal offer. There are no doubt additional concerns that need to be considered and clearly you should be as accurate as possible in your negotiations. You should not move forward based on this information without first seeking the advice of a professional.