I am in the throes of changing my existing standard loan to a Buy to Let Clydesdale mortgage. The bank has said that I need a solicitor as part of the process. I had a chat the same Moston conveyancing solicitor who dealt with the legals when I originally purchased the house. The fee estimate sent of £550 is surprising as its a remortgage than a sale or purchase.
The estimate does seem a tad overpriced. If you you were to look around you might get the conveyancing a bit cheaper by perhaps a hundred pounds. On the other hand, providing that you were happy with the conveyancing the firm gave you mightcome to rue opting for an an unknown lawyer. If is important to enquire the firm can represent Clydesdale. You can make use of our search tool to choose a Moston conveyancing firm on the Clydesdale approved list of lawyers, which can often include conveyancing solicitors in Moston.
I am buying a flat and need a conveyancing solicitor in Moston who is on the Leeds Building Society conveyancing. Can you recommend a local conveyancing firm?
Our service is limited to being a directory service for firms who wish to listed as being on the approved conveyancing panel for Leeds Building Society in certain locations such as Moston. We dont recommend any particular firm.
Should our lawyer be asking questions about flooding as part of the conveyancing in Moston.
Flooding is a growing risk for conveyancers specialising in conveyancing in Moston. Some people will purchase a house in Moston, fully expectant that at some time, it may suffer from flooding. However, leaving to one side the physical damage, where a house is at risk of flooding, it may be difficult to get a mortgage, satisfactory building insurance, or sell the premises. There are steps that can be taken as part of the conveyancing process to forewarn the buyer.
Conveyancers are not best placed to impart advice on flood risk, but there are a various checks that may be initiated by the buyer or by their lawyers which should give them a better appreciation of the risks in Moston. The standard completed inquiry forms given to a purchaser’s lawyer (where the Conveyancing Protocol is adopted) includes a standard question of the vendor to discover whether the property has ever been flooded. In the event that flooding has previously occurred which is not revealed by the owner, then a purchaser may bring a legal claim for losses resulting from an inaccurate response. The buyer’s lawyers will also order an environmental report. This should disclose if there is any known flood risk. If so, further investigations will need to be made.
Due to the encouragement of my in-laws I had a survey completed on a property in Moston before instructing solicitors. I have been advised that there is a flying freehold aspect to the property. The surveyor advised that some mortgage companies tend refuse to give a mortgage on a flying freehold premises.
It varies from the lender to lender. Lloyds has different instructions for example to Nationwide. If you contact us we can look into this further via the appropriate bank. If you lender is happy to lend one our lawyers can assist as they are used to dealing with flying freeholds in Moston. Conveyancing will be smoother if you use a solicitor in Moston especially if they are accustomed to such properties in Moston.
I'm remortgaging my current home to a BTL mortgage with Clydesdale and I will use the ballance of the raised equity towards another house. The area we are interested in is Moston. Will your solicitors be able to act for the two mortgage companies and tie in the transactions?
Do use our search tool on this page to ensure that the lawyers are on the appropriate lender panels. Having checked that they are your conveyancer will be able to simultaneously deal with the two transactions but you should talk with you conveyancer and make clear your expectations and requirements.
I am tempted by the attractive purchase price for a couple of apartments in Moston which have approximately 50 years left on the lease term. Will this present a problem?
There are no two ways about it. A leasehold flat in Moston is a deteriorating asset as a result of the reducing lease term. The closer the lease gets to zero years unexpired, the more it adversely affects the salability of the premises. The majority of buyers and lenders, leases with under eighty years become less and less attractive. 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 property 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 premises 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 Moston conveyancing experts who will explain the options available to you during an initial telephone conversation free of charge. A more straightforward and quicker method of extending would be to contact your landlord directly and sound him out on the prospect of extending the lease. They may agree to a smaller lump sum and an increase in the ground rent, but to shorter extension terms in return. You need to ensure that any new 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 garden flat in Moston, conveyancing having been completed 3 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? Equivalent flats in Moston with an extended lease are worth £191,000. The average or mid-range amount of ground rent is £55 invoiced annually. The lease expires on 21st October 2079
You have 54 years unexpired the likely cost is going to span between £31,400 and £36,200 as well as plus your own and the landlord's "reasonable" professional fees.
The figure that we have given is a general guide to costs for renewing a lease, but we cannot give you the actual costs without more detailed investigations. You should not use the figures in a Notice of Claim or as an informal offer. There may be additional issues that need to be taken into account and you obviously 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.