Is there a reason why leasehold purchase conveyancing in Ripley is more expensive?
Ripley leasehold properties involve far more paperwork than a freehold purchase, and therefore takes more time to examine and advise upon.Conveyancing will involve the lease having to be checked which is usually a lengthy document, queries raised to ensure that the covenants and conditions have been observed. If it is a flat there will be a management company in existence and the accounts of this will need to be checked and enquiries raised to ensure it is operating efficiently and that all monies due have been paid by the Seller to the company and if not ensuring that money is paid up to date or the appropriate undertakings obtained.
Please explain the implications if my lawyer’s firm is removed from the RBS Solicitor panel ahead of completing my conveyancing in Ripley?
First, this is a very rare occurrence. In most cases even where a law firm is removed off of a panel the lender would allow the completion to go ahead as the lender would appreciate the difficulties that they would place you in if you have to instruct a new solicitor days before completion. In a worst case scenario where the lender insists that you instruct a new firm then it is possible for a very good lawyer to expedite the conveyancing albeit that you may pay a significant premium for this. The analogous situation is where a buyer instructs a lawyer, exchanges contracts and the law firm is shut down by a regulator such as the SRA. Again, in this situation you can find lawyers who can troubleshoot their way to bring the conveyancing to a satisfactory conclusion - albeit at a cost.
When it comes to mortgage companies such as Yorkshire BS, do Ripley conveyancers face a fee to be on the list of approved solicitors?
We are not aware of any lender fees to register on their panel, although some do levy an administration charge to deal with the processing of the conveyancing panel submission.
I have paid off my mortgage with Coventry BS. I assume I don't need a Ripley lawyer on the Coventry BS panel to discharge the mortgage at the Land Registry. Am I right?
If you have finished paying off your Coventry BS mortgage, they may send you evidence showing that you have paid it off. Alternatively they may notify the Land Registry directly. The Land Registry need to see this evidence before they will remove the Coventry BS mortgage from the register. Coventry BS, and any evidence they send you, will determine the action you need to take. In cases where no conveyancer is acting for you and you have paid off your mortgage:
- but are not moving to another property
- where Coventry BS has sent the Land Registry the discharge electronically, and
- Coventry BS has instructed the Land Registry to do so
I am currently in the process of buying my council flat in Ripley. I have a mortgage offer with Nationwide. Conveyancing is not something I have any knowledge of. Can I proceed without a solicitor easily? I think we can but we keep being told I should use one. Any advice?
It is not advisable to proceed with a house purchase without a solicitor. The council's solicitor are not acting for you. You need a solicitor for a number reasons. One of which is to verify what plans the Council have for repairs and refurbishment for the next five years. Many leaseholders have been stung for contributions of thousands of pounds. In any event, if you are getting a mortgage with Nationwide, you will need to appoint a solicitor on the Nationwide conveyancing panel.
I have justbecome aware that Stirling Law have closed. They conducted my conveyancing in Ripley for a purchase of a leasehold flat 9 months ago. How can I check that my home is registered correctly in the name of the former proprietor?
The easiest method to see if the premises is in your name, you can make a search of the land registry (£3.00). You can either do this yourself or ask a law firm to do this for you. If you are not registered you can seek help from one of a number of Ripley conveyancing specialists.
Due to the guidance of my in-laws I had a survey completed on a house in Ripley in advance of retaining conveyancers. I have been advised that there is a flying freehold aspect to the house. My surveyor advised that some banks tend not grant a mortgage on a flying freehold premises.
It varies from the lender to lender. Lloyds has different instructions for example to Birmingham Midshires. Should you wish to call us we can check via the appropriate bank. If you lender is happy to lend one our lawyers can help as they are used to dealing with flying freeholds in Ripley. Conveyancing may be slightly more expensive based on your lender's requirements.
Am I better off to use a Ripley conveyancing solicitor based in the location that I am buying? We have a good friend who can perform the legal work however her office is 300kilometers drive away.
The benefit of a high street Ripley conveyancing firm is that you can visit the firm to execute documents, deliver your ID and pester them if necessary. Having local Ripley know how is a bonus. That being said nothing is more important than finding someone that will pull out all the stops for you. If if people you trust used your friend and on the whole were impressed that must outweigh using an unfamiliar Ripley conveyancing solicitor solely due to them being based in the area.