Just been in touch with my conveyancing solicitor in Norton who completed the legal work two years ago requesting a conveyancing estimate based on the same type of house move (a leasehold premises and a freehold premises) of similar values with a mortgage from Leeds Building Society. It looks as though am now being charged double. Better the devil I know or should I try and find a cheaper online conveyancer?
The costs illustration is fractionally on the high side. If you you were to look around you could decrease the fees slightly by say £100 plus VAT. That being said, providing that you were pleased with the assistance the firm offered you maylive to rue choosing an a cheaper solicitor. If is important to be sure the firm can act for Leeds Building Society. You can make use of our search tool to get a quote a Norton conveyancing firm on the Leeds Building Society conveyancing panel, which can often include conveyancing solicitors in Norton.
Would the conveyancing lawyers that you recommend execute conveyancing in Norton by way of an attended exchange?
We do have a number of conveyancing specialists carrying out one day exchanges. Please contact us to get a costs illustration and details as to availability.
I am purchasing a flat and require a conveyancing solicitor in Norton who is on the Nationwide Building Society solicitor. Can you recommend a local solicitor?
Our service is limited to being a directory service for firms who wish to listed as being on the approved conveyancing panel for Nationwide Building Society in certain locations such as Norton. We dont recommend any particular firm.
I am the sole beneficiary of my late grandmother’s estate and I have everything in my name now, including the house in Norton. Conveyancing formalities meant that the Land Registry date was in September. I plan to dispose of the house. I understand that there is a CML six month 'rule', meaning my property ownership could be regarded the same way as if I'd bought the house in September. Do I have to wait half a year to sell?
The Council of Mortgage Lenders’ handbook requires solicitors to: "report to us immediately if the owner or registered proprietor has been registered for less than six months." Technically you could be caught by that. How sensible a view mortgage companies take of it, depend on the lender as this clause is primarily there to capture subsales or the flipping of properties.
Is it the case that all Norton solicitor practices on the Skipton conveyancing panel are overseen by the Solicitors Regulatory Authority?
As solicitors, in order to be on the Skipton approved list of solicitors they would need to be regulated by the Solicitors Regulatory Authority. Many banks do allow licenced conveyancers on their panel in which case such organisation would be regulated by the Council of Licensed Conveyancers.
I am buying a property in Norton. A rare aspect is that the roof has a solar panel. Solicitors conducting should look into this right? Will my lender Coventry BS be concerned?
As you are obtaining a mortgage with Coventry BS your lawyer must comply with the formal instructions outlined in Part 2 of UK Finance Lenders’ Handbook for Coventry BS. The Council of Mortgage Lenders’ Handbook stipulates minimum specifications for solar panel roof-space leases, and conveyancers are required to report to Coventry BS where a lease does not satisfy these provisions. The conditions relate to the installation of panels on properties countrywide and is not limited to Norton.
I am looking for a ground for flat up to £195,000 and identified one close by in Norton I like with a park and transport links in the vicinity, the downside is that it's only got 52 remaining years left on the lease. There is not much else in Norton for this price, so just wondered if I would be making a mistake purchasing a short lease?
If you need a mortgage that many years will be a potential deal breaker. Discount the price by the anticipated lease extension will cost if it has not already been discounted. If the existing proprietor has owned the property for a minimum of twenty four months you can ask them to commence the lease extension formalities and then assign it to you. An additional ninety years can be extended on to the existing lease with a zero ground rent applied. You should speak to your conveyancing solicitor regarding this.
Last May I purchased a leasehold property in Norton. Do I have any liability for service charges for periods before completion of my purchase?
Where the service charge has already been demanded from the previous owner and they have not paid you would not usually be personally liable for the arrears. Strange as it may seem, your landlord may still be able to take action to forfeit the lease. A critical element of leasehold conveyancing for your conveyancer to be sure to have an up to date clear service charge receipt before completion of your purchase. If you have a mortgage this is likely to be a requirement of your lender.
If you purchase part way through an accounting year you may be liable for charges not yet demanded even if they relate to a period prior to your purchase. In such circumstances your conveyancer would normally arrange for the seller to set aside some money to cover their part of the period (usually called a service charge retention).
I invested in buying a garden flat in Norton, conveyancing formalities finalised half a dozen years ago. Can you let me have an estimated range of the fair premium for a lease extension? Equivalent properties in Norton with an extended lease are worth £185,000. The ground rent is £65 yearly. The lease expires on 21st October 2085
With just 60 years unexpired we estimate the premium for your lease extension to range between £20,000 and £23,000 plus costs.
The suggested premium range that we have given is a general guide to costs for renewing a lease, but we cannot give you a more accurate figure without more comprehensive due diligence. 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 want to be as accurate as possible in your negotiations. You should not move forward based on this information without first getting professional advice.