I am in the process of selling my ground floor flat in Willerby and the estate agent has just text me to advise that the purchasers are appointing a new property lawyer. I am told that this is due to the fact that the lender will only work with solicitors on their approved list. On what basis would a major mortgage company only engage with specific solicitors rather the firm that they want to select for their conveyancing in Willerby ?
UK lenders have always had an approved set of law firms that can represent them, but in the last few years big names such as Yorkshire Building Society, have reviewed and reduced their conveyancing panel– in some cases removing conveyancing firms who have acted for them for more than 15 years.
Banks blame a rise in fraud by way of justification for the cull – criteria have been tightened as a smaller panel is easier to monitor. Banks tend not to disclose how many solicitors have been dropped, claiming the information is commercially sensitive, but the Law Society claims that it is hearing daily from firms that have been removed from panels. Plenty of firms do not even realise they have been dropped until contacted by a borrower who has instructed them as might be the situation in your buyers' case. Your purchasers are not going to have any impact on this.
I am the registered owner of a freehold property in Willerby yet charged rent, why is this and what is this?
It is rare for properties in Willerby and has limited impact for conveyancing in Willerby but some freehold properties in England (particularly common in North West England) pay an annual sum known as a Chief Rent or a Rentcharge to a third party who has no other legal interest in the land.
Rentcharge payments are usually between £2.00 and £5.00 per year. Rentcharges date back hundreds of years, but the Rent Charge Act 1977 barred the establishment of fresh rentcharges from 1977 onwards.
Old rentcharges can now be redeemed by making a one off payment under the Act. Any rentcharges that are still in existence post 2037 is to be dispensed with completely.
My wife and I purchased a terraced Victorian property in Willerby. Conveyancing solicitor acted for me and Clydesdale. I happened to do a free search for it on the Land Registry database and I saw two entries: the first freehold, another for leasehold with the exact same property. I'd like to know for sure, how can I find out??
You should read the Freehold register you have again and check the Charges Register as there may be mention of a lease. The best way to be sure that you are also the registered owner of the leasehold and freehold title as well is to check (£3). It is not completely unheard of in Willerby and other locations in the country and poses no real issues for owners other than when they remortgage they have to account for both freehold and leasehold interests when dealing with mortgage companies. You can also check the situation with the conveyancing practitioner who conducted the work.
As co-executor for the will of my grandfather I am selling a house in Cardiff but live in Willerby. My conveyancer (who is 200 miles from mehas requested that I execute a statutory declaration prior to the transaction finalising. Can you recommend a conveyancing practitioner in Willerby to witness this legal document for me?
strictly speaking you are unlikely to need to have the documents attested by a conveyancing solicitor. Ordinarily or notary public or solicitor will suffice regardless of whether they are Willerby based
I’m about to sell my 2 bed flat in Willerby. Conveyancing is yet to be initiated, but I have recently had a yearly service charge demand – what should I do?
It best that you pay the service charge as you normally would given that all rents and service payments will be apportioned as part of the financial calculations for completion monies, so you will be reimbursed by the buyer for the period running from after the completion date to the subsequent invoice date. Most managing agents will not acknowledge the buyer until the service charges have been paid and are up to date, so it is important for both buyer and seller for the seller to show that they are up to date. This will smooth the conveyancing process.
Willerby Leasehold Conveyancing - Sample of Questions you should consider Prior to buying
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How is the lease structured? How many years remain on the lease? Please note if it is less than eighty years it will impact the salability of the flat. Check with your bank that they are willing to to proceed given the lease term. A short lease means that you will probably require a lease extension sooner rather than later and it is worth finding out how much this would cost. Remember, in most cases you will need to own the property for two years in order to be eligible to exercise a lease extension.
How do I identify cost effective conveyancing in Willerby?
Option 1 is to ask the people you trust they would would instruct. Second, look on the web for conveyancing in Willerby. Telephone two or three from the list and ask them to send you their conveyancing quote and discuss your needs with the solicitor who will conduct your conveyancing before you make your choice. Option 3 is to use our search tool to help you find the right lawyers taking into account your unique factors including location,speed, complexity and who your intended mortgage company is.Avoid the trap of appointing lowest cost conveyancing solicitors in Willerby