I was informed today by my mortgage broker that my Haxby solicitor is not on the mortgage company Solicitor panel. What can I do to check?
The sensible course of action for you to take is to contact your Haxby lawyer directly. It is reasonable to expect your lawyer to notify you of the situation. Where they are not on the panel they could put your in touch with solicitors on the approved list of lawyers for your mortgage company.
Having sold my house in Haxby last June but my buyer keeps texting every few hours to moan that their lawyer is waiting to hear from myconveyancer. What should my lawyer have done following completion?
Following your disposal your solicitor should forward the transfer deeds and all additional paperwork to the purchaser's conveyancer. Depending on the transaction, your conveyancer must also evidence that the mortgage has been redeemed to the purchasers solicitors. There are no post completion requirements just for conveyancing in Haxby.
We are purchasing a property and the solicitor has referenced Chancel Repair for which the property may be liable as it falls into the area of such a church. She has recommended insurance. Is this really appropriate for conveyancing in Haxby
Unless a previous acquisition of the premises took place after 12 October 2013 you can assume that solicitors delivering conveyancing in Haxby to continue to suggest a chancel search and or chancel repair liability insurance.
It has been four months since my purchase conveyancing in Haxby took place. 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 asset 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.
My husband and I are novice buyers - had an offer accepted, but the property agent told us that the owners will only proceed if we use the agent's chosen conveyancers as they need a ‘quick sale’. Our preferred option is to instruct a family solicitor who is accustomed to conveyancing in Haxby
It is unlikely the vendors are behind this. If they require ‘a quick sale', taking such a hostile approach to a motivated purchaser is not the way to achieve this. Speak to the owners direct and explain that (a)you are keen to buy (b)you are ready to go, with mortgage lined up © you do not need to sell (d) you intend to proceed fast (e)but you are going to instruct your own,trusted Haxby conveyancing firm - not the ones that will provide the estate agent a introducer fee or hit his conveyancing targets set by HQ.
I am looking at a couple of maisonettes in Haxby which have about forty five years left on the leases. Do I need to be concerned?
There is no doubt about it. A leasehold apartment in Haxby is a wasting asset as a result of the shortening lease. The closer the lease gets to its expiry date, the more it reduces the marketability of the premises. For most purchasers and lenders, leases with under eighty years become less and less marketable. On a more upbeat note, leaseholders can extend their leases by serving a Section 42 Notice. One stipulation is that they must have owned the premises for two years (unlike a Section 13 notice for purchasing the freehold, when leaseholders can participate from day one of ownership). When successful, they will have the right to an extension of 90 years to the current term and ground rent is effectively reduced to zero. Before moving forward with a purchase of a residence with a short lease term remaining you should talk to a solicitor specialising in lease extensions and leasehold enfranchisement. We are are happy to put you in touch with Haxby conveyancing experts who will explain the options available to you during an initial telephone conversation free of charge. More often than not it is possible to negotiate informally with the freeholder to extend the lease. You may find he or she is happy to negotiate informally and willing to consider your offer straight off, without having to involve anyone else. This will save you time and money and it could help you reach a lower price on the lease. You need to ensure that the agreed terms represent good long-term value compared with the standard benefits of the Section 42 Notice and that onerous clauses are not inserted into any redrafting of the lease.
I acquired a 2 bed flat in Haxby, conveyancing formalities finalised in 2007. Can you give me give me an indication of the likely cost of a lease extension? Similar properties in Haxby with a long lease are worth £255,000. The ground rent is £45 invoiced every year. The lease comes to an end on 21st October 2099
You have 73 years left to run we estimate the price of your lease extension to be between £8,600 and £9,800 as well as 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 in the absence of detailed investigations. Do not use this information in tribunal or court proceedings. 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 take any other action placing reliance on this information without first getting professional advice.