I am currently in the process of buying my council flat in Yate. I have a mortgage agreed with Clydesdale. Conveyancing is new to me. Can I proceed without a solicitor easily? I think we can but we keep being told I should have 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 Clydesdale, you will need to appoint a solicitor on the Clydesdale conveyancing panel.
The formalities of my remortgage has taken place for my property in Yate. Conveyancing was a necessary evil but I would like to complain about the lender. Who do I contact should I wish to lodge a complaint?
All lenders have complaints procedures. Your first point of contact should be one of the lender’s branches or the Customer Care Department at head office. We understand that complaints to a lender are sorted out very quickly. However if you are not satisfied that the matter is not resolved you can write to Financial Ombudsman Service, South Quay Plaza, 183 Marsh Wall, London E14 9SR with full details of your complaint.
After shopping around on the internet I have found a Yate conveyancing practitioner having checked that they are on the Coventry BS conveyancing panel. Does my lawyer arrange the survey of the property?
Coventry BS will need an independent valuation of the property. Your lawyer will not arrange this. Usually Coventry BS will appoint their own surveyor to do this, and you will have to pay for it. Remember that this is a valuation for mortgage purposes and not a survey. You may wish to consider appointing your own Yate surveyor to carry out a survey or prepare a home buyers report on the property. It is up to you to satisfy yourself that the property is structurally sound before you buy it. If the survey or report reveals that building work is needed, you should tell your solicitor. You may wish to renegotiate with the seller.
How does conveyancing in Yate differ for new build properties?
Most buyers of new build or newly converted property in Yate contact us having been asked by the developer to sign contracts and commit to the purchase even before the house is finished. This is because new home sellers in Yate usually purchase the site, plan the estate and want to get the plots sold off as they are building the properties. Buyers, therefore, will have to exchange contracts without actually seeing the house they are buying. To reduce the chances of losing the property, buyers should instruct conveyancing solicitors as soon as the property is reserved and mortgage applications should be submitted quickly. Due to the fact that it could be several months and even years between exchange of contracts and completion, the mortgage offer may need to be extended. It would be wise to use a lawyer who specialises in new build conveyancing especially if they are accustomed to new build conveyancing in Yate or who has acted in the same development.
Over the last few months I have been searching for a leasehold apartment up to £195,000 and identified one round the corner in Yate I like with a park and transport links in the vicinity, the downside is that it only has 49 years unexpired on the lease. There is not much else in Yate suitable, so just wondered if I would be making a mistake acquiring a short lease?
If you need a mortgage the shortness of the lease may be a potential deal breaker. Reduce the offer by the amount the lease extension will cost if not already taken into account. If the current proprietor has owned the premises for a minimum of 2 years you may request that they start the process of the extension and pass it to you. You can add 90 years to the existing lease with a zero ground rent applied. You should speak to your conveyancing solicitor about this.
I need to appoint a conveyancing solicitor for leasehold conveyancing in Yate. I've chance upon a site which appears to be the ideal offering If there is a chance to get all this stuff done via email that would be preferable. Do I need to be concerned? What should out be looking out for?
As usual with these online conveyancers you need to read ALL the small print - did you notice the extra charge for dealing with the mortgage?
Can you provide any top tips for leasehold conveyancing in Yate with the aim of expediting the sale process?
- A significant proportion of the frustration in leasehold conveyancing in Yate can be bypassed if you get in touch lawyers the minute you market your property and ask them to put together the leasehold information needed by the purchasers’ lawyers. If you have carried out any alterations to the residence would they have required Landlord’s consent? In particular have you installed wooden flooring? Most leases in Yate state that internal structural changes or laying down wooden flooring necessitate a licence from the Landlord acquiescing to such works. Should you dont have the consents in place you should not contact the landlord without checking with your lawyer in the first instance. You may think that you are aware of the number of years left on your lease but you should verify this by asking your lawyers. A buyer’s conveyancer will not be happy to advise their client to where the lease term is below 75 years. It is therefore essential at an early stage that you identify whether the lease term requires a lease extension. If it does, contact your solicitors before you put your home on the market for sale. A minority of Yate leases require Licence to Assign from the landlord. If this applies to your lease, you should place the estate agents on notice to make sure that the purchasers put in hand bank and professional references. Any bank reference will need to confirm that the buyers are financially capable of paying the annual service charge and the actual amount of the service charge should be quoted in the bank’s letter. You will therefore need to provide your estate agents with the service charge figures so that they can pass this information on to the buyers or their lawyers.
Yate Leasehold Conveyancing - A selection of Queries Prior to Purchasing
Is anyone aware of any major works in the near future that could add a premium to the maintenance charges? Please note if it is no more than eighty years it will affect the marketability of the apartment. Check with your mortgage company that they are willing to to proceed given the lease term. A short lease means that you will almost definitely require a lease extension sooner rather than later and it is worth discovering how much this would cost. For most Yatelease extensions you would be be obliged to have been the owner of the residence for 24 months before you are entitled to exercise a lease extension.
I am due to consider costs for conveyancing in Yate from numerous lawyer and decide on one. Do I tell them to hold tight until I have found somewhere to purchase.
You should only get your solicitor to commence work and order searches after the sales memo has been issued by the selling agent particularly as Yate conveyancing searches are costly.