I have just been advised by my financial adviser that my North Cave the law firm I have appointed is not on the mortgage company Conveyancing panel. How can I check?
You need to contact your North Cave conveyancer. You lawyer should advise you what has happened. If they are not on the panel they may be able to suggest a North Cave conveyancing practice that is on the conveyancing panel for your bank.
Completed the sale of my flat in North Cave last June but my buyer keeps whats apping every few hours complaining that her solicitor needs to hear from mine. What are the post completion sale formalities following completion?
Post completion of your house sale your conveyancer should send the transfer deeds and all of the paperwork to the buyer’s solicitors. Depending on the transaction, your conveyancer should also confirm that the home loan has been redeemed to the buyers conveyancers. There is unlikely to be post completion requirements specific conveyancing in North Cave.
When it comes to mortgage companies such as Yorkshire BS, do North Cave conveyancers have to pay a yearly amount to be on the list of approved solicitors?
We are unaware of any lender fees to be on their panel, although some do charge an administration charge to deal with the processing of the conveyancing panel application.
How can we tell if a North Cave conveyancing solicitor on the TSB panel is any good?
When it comes to conveyancing in North Cave obtaining recommendations is a good starting point. Before you go ahead, check if they offer a no sale no fee offer. Also, you often get what you pay for - a firm which quotes more, will often provide a better service than one advertising the lowest fees. We would always advocate that you speak with the lawyer handling your conveyancing.
I am purchasing a property in North Cave. A rare aspect is that the roof has a solar panel. Coventry BS have issued a mortgage offer so presumably this is not a concern to them. Why is my solicitor raising questions about the panel?
Given that your lender is Coventry BS your lawyer must follow the formal requirements outlined in Section two of UK Finance Lenders’ Handbook for Coventry BS. The Council of Mortgage Lenders’ Handbook sets out minimum requirements for solar panel roof-space leases, and conveyancing practitioners are required to report to Coventry BS where a lease fails to comply with these conditions. The specifications relate to the installation of panels on properties countrywide and is not limited to North Cave.
It has been 4 months since my purchase conveyancing in North Cave took place. I have checked the Land Registry site which shows that I paid £200,000 when infact I paid £170,000. 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 property 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.
How do I locate a North Cave law firm on the Chelsea Building Society conveyancing panel? I am a keen cyclist and am prepared to travel upto 10miles to meet the solicitor.
Feel free to make use of the tool on this page. Please pick a lender and your location and you will see a number of North Cave conveyancing lawyers based on proximity. We have listed some North Cave conveyancing firms towards the end of this page and you can contact them to check if they are on the Chelsea Building Society panel
I am looking at a two flats in North Cave both have approximately 50 years left on the leases. Will this present a problem?
There is no doubt about it. A leasehold flat in North Cave is a deteriorating asset as a result of the shortening lease. The closer the lease gets to its expiry date, the more it adversely affects the salability of the property. The majority of purchasers and mortgage companies, leases with less than 75 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 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 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 North Cave 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 inherited a basement flat in North Cave, conveyancing having been completed January 1996. Can you give me give me an indication of the likely cost of a lease extension? Corresponding flats in North Cave with an extended lease are worth £190,000. The average or mid-range amount of ground rent is £65 yearly. The lease ends on 21st October 2086
With just 61 years left to run we estimate the premium for your lease extension to span between £18,100 and £20,800 plus plus your own and the landlord's "reasonable" professional fees.
The figure above a general guide to costs for extending a lease, but we are not able to provide a more accurate figure in the absence of detailed due diligence. You should not use the figures in a Notice of Claim or as an informal offer. There may be other concerns that need to be taken into account and clearly you want to be as accurate as possible in your negotiations. Please do not move forward based on this information before getting professional advice.