My partner and I are approaching an exchange on a house in Knaresborough and my mum and dad have sent the ten percent deposit to my conveyancer. I am now advised that as the deposit has not come from me my conveyancing practitioner needs to disclose this to my bank. I am advised that, in also acting for the bank he must inform them that the balance of the purchase price is coming from anyone other than me. I disclosed to the mortgage company regarding my parents' contribution when I applied for the mortgage, so is it really necessary for this now to delay the deal?
The conveyancing practitioner is duty bound to check with lender to ensure that they know that the balance of the purchase price is not from your own resources. The solicitor can only notify this to your bank if you permit them to, failing which, your lawyer must cease to continue acting.
My partner and I are downsizing from our home in Knaresborough and according to the buyers it appears that there is a possibility that the property was constructed on contaminated land. Any local conveyancer would know this is not the case. For the life of me I don't know why the buyers used a nationwide conveyancing practice rather than a conveyancing solicitor in Knaresborough. Having lived in Knaresborough for six years we know that this is a non issue. Do we contact our local Authority to obtain clarification that there is no issue.
It would appear that you have a conveyancing lawyer already. What do they say? You should enquire of your lawyer before you do anything. It is very possible that once the local authority has been informed of a potential issue it cannot be insured against (a bit like being diagnosed with a serious illness and then taking out health insurance to cover that same sickness)
I am buying my first flat in Knaresborough with the aid of help to buy. The developers refused to budge the price so I negotiated five thousand pounds worth of additionals instead. The estate agent advised me not disclose to my conveyancer about this side-deal as it could adversely affect my mortgage with Bank of Ireland. 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.
Due to the advice of my in-laws I had a survey completed on a property in Knaresborough prior to appointing lawyers. I have been told that there is a flying freehold element to the house. My surveyor advised that some lenders will not give a mortgage on a flying freehold property.
It varies from the lender to lender. HSBC has different instructions for example to Nationwide. If you contact us we can investigate further with the appropriate lender. If you lender is happy to lend one our lawyers can help as they are accustomed to dealing with flying freeholds in Knaresborough. Conveyancing can be more complicated and therefore you should check with your conveyancing solicitor in Knaresborough to see if the conveyancing will be more expensive.
My company is wishing to take over a lease of a shop on a shopping parade. Can you recommend lawyers offering no-move-no charges for commercial conveyancing in Knaresborough for below £1,200?
We are happy to recommend firms who host a wealth of experience of commercial conveyancing in Knaresborough, including the disposal and acquisition of businesses as well as simply premises. Whether you are intending to acquire or lease a shop, pub, restaurant, office, retail premises or a whole business we will put you in touch with the right solicitor. As for the charges this will depend on the structure and nuances of the proposed transaction. Let us have your details or telephone us so that we may supply you with a fixed commercial conveyancing calculation.
I’m about to sell my basement flat in Knaresborough. Conveyancing lawyers have not yet been instructed, but I have recently received a quarterly service charge invoice – should I leave it to the buyer to sort out?
It best that you discharge the service charge as usual as all ground rent and maintenance payments will be apportioned on completion, so you should recover the relevant percentage by the buyer for the period running from after the completion date to the next payment date. Most management companies will not acknowledge the buyer unless the service charges have been paid and are up to date, so it is important for both buyer and seller for the seller to show that they are up to date. Having a clear account will assist your cause and will leave you no worse off financially.
I acquired a garden flat in Knaresborough, conveyancing was carried out 3 years ago. Can you give me give me an indication of the likely cost of a lease extension? Similar flats in Knaresborough with an extended lease are worth £197,000. The average or mid-range amount of ground rent is £55 invoiced annually. The lease expires on 21st October 2080
You have 55 years unexpired we estimate the premium for your lease extension to range between £31,400 and £36,200 plus costs.
The suggested premium range above a general guide to costs for extending a lease, but we cannot give you a more accurate figure without more comprehensive investigations. You should 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. Neither should you take any other action based on this information without first seeking the advice of a professional.