I'm the sole beneficiary of my late grandmother’s will with all property in now in my sole name, including the my former home in Thirsk. The Thirsk property was put into my name in June. I now wish to sell up. I understand that there is a Mortgage Lenders 6 month 'rule', which means that my property ownership could be regarded the same way as if I'd bought the house in June. Is the property unsalable for six months?
The CML handbook instructs solicitors to: "report to us immediately if the owner or registered proprietor has been registered for less than six months." By the strict wording you could be caught by that. Some lenders would take a sensible view as this clause is principally there to capture the purchase and immediately sell or the flipping of property.
is it true that all Thirsk conveyancing solicitors on the Aldermore conveyancing panel are governed by the Solicitors Regulatory Authority?
As a firm of solicitors, in order to be on the Aldermore approved list of solicitors they would need to be regulated by the Solicitors Regulatory Authority. Many mortgage companies do allow licenced conveyancers on their panel in which case such practice would be governed by the Council of Licensed Conveyancers.
Two weeks ago we had a mortgage agreed in principle with Nottingham. Thirsk conveyancing lawyers were chosen. What is the average time that one could expect to receive a mortgage offer from Nottingham?
Some lenders take longer than others. Have Nottingham done the survey? Have you informed Nottingham as to your lawyers' details and checked that your lawyers are on the Nottingham conveyancing panel? It is not unusual for a mortgage offer to take a month to come through.
I have recentlybecome aware that Action Conveyancing have been shut down. They conducted my conveyancing in Thirsk for a purchase of a freehold house 10 months ago. How can I establish that the property is not still registered in the name of the former proprietor?
The quickest method to see if the property is registered to you, you can carry out 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 Thirsk conveyancing specialists.
Just had an offer accepted on a new build apartment in Thirsk. Conveyancing is a frightening process at the best of times but I have never purchased a new build flat before. What sort of enquires would be asked in new build conveyancing.
Set out below are examples of a few leasehold new build questions that you should expect your new-build leasehold conveyancing in Thirsk
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Forfeiture - bankruptcy or liquidation must not apply under this provision. Please supply a car parking plan. The Lease must contain a provision on behalf of the Vendor to pay the service charges in respect of unoccupied units in order to ensure that all services can be provided. Will control of the Management Company (if any) be handed over to purchasers on completion of the last sale or earlier? There must be mutual enforceability of lessee’s covenants.
I decided to have a survey completed on a house in Thirsk ahead of appointing lawyers. I have been advised that there is a flying freehold aspect to the house. My surveyor has said that some banks will not give a mortgage on a flying freehold house.
It varies from the lender to lender. Santander has different instructions for example to Halifax. If you contact us we can look into this further with the relevant bank. If you lender is happy to lend one our lawyers can help as they are accustomed to dealing with flying freeholds in Thirsk. Conveyancing may be slightly more expensive based on your lender's requirements.
I am hoping to put an offer on a small detached house that appears to meet my requirements, at a reasonable figure which is making it more attractive. I have just discovered that it's a leasehold rather than freehold. I would have thought that there are issues purchasing a house with a leasehold title in Thirsk. Conveyancing advisers have are soon to be instructed. Will they explain the issues?
The majority of houses in Thirsk are freehold and not leasehold. This is one of the situations where having a local conveyancer who is familiar with the area who can help the conveyancing process. it is apparent that you are buying in Thirsk so you should seriously consider looking for a Thirsk conveyancing solicitor and be sure that they are used to advising on leasehold houses. First you will need to check the unexpired lease term. As a tenant you will not be entirely free to do whatever you want with the house. The lease comes with conditions for example requiring the freeholder’sconsent to conduct alterations. It may be necessary to pay a service charge towards the upkeep of the estate where the house is part of an estate. Your conveyancer should advise you fully on all the issues.
I invested in buying a 1 bedroom flat in Thirsk, conveyancing formalities finalised in 2001. Can you please calculate a probable premium for a statutory lease extension? Equivalent properties in Thirsk with a long lease are worth £195,000. The average or mid-range amount of ground rent is £45 levied per year. The lease expires on 21st October 2087
You have 63 years unexpired we estimate the price of your lease extension to be between £16,200 and £18,600 as well as professional fees.
The figure above a general guide to costs for renewing a lease, but we are not able to provide a more accurate figure in the absence of comprehensive due diligence. You should not use the figures in a Notice of Claim or as an informal offer. There may be additional concerns that need to be taken into account and you obviously want to be as accurate as possible in your negotiations. You should not take any other action placing reliance on this information without first seeking the advice of a professional.
I happen to be an executor of my recently deceased mother’s Will, with a house in Thirsk which is to be sold. The house has never been registered at HMLR and I'm advised that some purchasers will insist that it is in place before they'll move forward. What's the mechanism for this?
In the circumstances you refer to it seems advisable to apply to register in the names of the personal representative(s) as named in the probate and in their capacity as PRs. The Land Registry’s online guidance explains how to register for the first time and what is required re the deeds and forms. You would need to include and certified copy of the probate as well and complete the form FR1 to refer to the PRs as the applicant.