I have given 8 weeks notice to my existing landlord and have to be out of my rented flat in Thirsk by 17/6/2025. Conveyancing for my house purchase is underway. Can I complete in a couple of weeks as don't want to have to move into short term accommodation?
The normal practice is not to serve notice on a rental until your lawyer suggests that you should. Assuming that you have not previously done so, update to your conveyancer and request that they cajole the other solicitors, try to a target completion date that everyone will work to achieve
We're in Thirsk, First time buyers purchasing with a mortgage (lender is Principality , and our solicitor is on the Principality conveyancing panel). How long should the conveyancing process take?
The fact that your lawyer is on the Principality conveyancing panel is a help. It would almost certainly delay matters if they were not. However, no lawyer should guarantee a timeframe for your conveyancing, due to third parties outside of your control such as delays caused by lenders,conveyancing search providers or by the other side’s solicitors. The time taken is often determined by the number of parties in a chain.
Me and my partner are buying a house in Thirsk. I might seem paranoid but how we can trust a lawyer? On completion day we have to send funds into their account. What protection do we have from them run away with our deposit?
Be assured that all money in a Solicitors client account is 100% safe, and even if your Solicitor ran off with it, the Law Society would reimburse you fully.
My conveyancer has informed me that missing deeds insurance is required on my purchase. What is the level of cover for Thirsk conveyancing?
The right level of missing deeds indemnity insurance should be dictated by who your lender. It would differ for example between National Westminster Bank and Chelsea Building Society. Conveyancing lawyers as opposed to members of the public take out such policies.
I have a mortgage with Kent Reliance for my property in Thirsk. Conveyancing has been completed a year ago. If I am intending to rent out my property and do not currently have a buy-to-let mortgage do I need to remortgage to a buy-to-let mortgage or inform Kent Reliance?
Kent Reliance must be informed of your intention in advance of letting out your property as this is likely to be a breach of Kent Reliance’s mortgage conditions. It may be that Kent Reliance will allow you to rent out your former home without needing to switch to a buy-to-let mortgage but some lenders will add a surcharge to your mortgage rate to reflect the higher risk. You should contact Kent Reliance directly. You need not do this via a Kent Reliance conveyancing panel lawyer.
I am purchasing my first flat in Thirsk benefiting from help to buy. The builders would not reduce the amount so I negotiated five thousand pounds worth of additionals instead. The estate agent told me not inform my lawyer about the side-deal as it would impact my loan with the bank. Should I keep quiet?.
All lenders require a Disclosure of Incentives Form from the builder of any new build, converted or renovated property, It is available online from the Lenders’ Handbook page on the CML website. CML form is completed and handed to the lender's surveyor when the inspection is done.
Lenders have different policies on incentives. Some accept none at all, cash or physical, while others will accept cash incentives up to 5%.
Hard to understand why the representative of a builder would be suggesting you withold information from a solicitor when all this will be clearly visible on forms the builder has to supply to its solicitor, the buyer's solicitor and the surveyor.
I opted to have a survey done on a house in Thirsk ahead of appointing conveyancers. I have been told that there is a flying freehold overhang to the house. Our surveyor has said that some mortgage companies tend refuse to issue a mortgage on such a premises.
It varies from the lender to lender. Lloyds has different requirements for example to Birmingham Midshires. If you call us we can check via the appropriate mortgage company. 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.
Can you provide any top tips for leasehold conveyancing in Thirsk from the point of view of speeding up the sale process?
- Much of the delay in leasehold conveyancing in Thirsk can be avoided where you get in touch lawyers as soon as your agents start marketing the property and ask them to put together the leasehold documentation which will be required by the purchasers’ representatives. You may think that you are aware of the number of years left on your lease but you should verify this via your lawyers. A purchaser's conveyancer will not be happy to advise their client to to exchange contracts if the lease term is below 75 years. In the circumstances it is essential at an early stage that you identify whether the lease requires a lease extension. If it does, contact your solicitors before you put your premises on the market for sale. In the event that you altered the property did you need the Landlord’s consent? In particular have you installed wooden flooring? Most leases in Thirsk state that internal structural changes or installing wooden flooring calls for a licence from the Landlord approving such alterations. If you dont have the paperwork to hand do not contact the landlord without contacting your solicitor in the first instance. If you have had conflict with your landlord or managing agents it is essential that these are settled before the property is marketed. The purchasers and their solicitors will be warry about purchasing a flat where there is a current dispute. You may have to bite the bullet and discharge any arrears of service charge or resolve the dispute prior to completion of the sale. It is therefore preferable to have any dispute settled prior to the contract papers being issued to the buyers’ solicitors. You are still duty bound to disclose particulars of the dispute to the buyers, but it is better to reveal the dispute as historic rather than ongoing.
Thirsk Conveyancing for Leasehold Flats - Sample of Queries Prior to buying
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On the whole the cost for major works tend not to be built into the maintenance charges, although some managing agents in Thirsk ask tenants to pay into a reserve fund and this is used to offset against larger works. Please note if it is less than 80 years it will affect the salability of the flat. Check with your lender that they are willing to lend given the lease term. A short lease means that you will almost definitely need a lease extension at some point and it is worth discovering what this will be. For most Thirsklease extensions you will need to own the residence for 24 months in order to be legally able to extend the lease.