Much to our surprise we have been told by our mortgage adviser that my Ledbury the law firm I have appointed is not on the mortgage company Solicitor panel. What can I do to be sure whether this is correct?
You need to call your Ledbury conveyancer. You lawyer should advise you of the situation. Where they are not on the panel they could put your in touch with solicitors on the conveyancing panel for your bank.
We were just about to sign contracts for a leasehold flat in Ledbury. We encountered a problem. The loan offer with Barnsley Building Society expires on 10/7/2024 but the owners are insisting on a completion date of 12/7/2024. Is it possible to prolong the loan expiry date?
The person best placed to deal with your concern is your lawyer who will calculate if they should be discussing with the mortgage company, vendor’s representatives, estate agents or possibly all three taking into account the history of your transaction as of today.
Can you point me to a directory of Yorkshire BS panel solicitors in Ledbury on the UK Finance Lenders’ Handbook Website?
No. There is no such tool on the Council of Mortgage Lenders or Building Society Association websites. Very few banks make their panel listings open the public on the web. If you are looking for a Ledbury property lawyer on the Yorkshire BS please make the most of our tool.
We had chosen conveyancers locally in Ledbury on the Skipton solicitor panel. They are now charging me an additional sum for the legal aspects of the Skipton mortgage. Is this an additional conveyancing fee set by Skipton?
Unfortunately, so long as it is in their Terms and Conditions or estimate then yes your solicitor is entitled to levy a fee for this. The fee is not dictated by Skipton but by your Ledbury conveyancing practitioner. Plenty of firms on the Skipton panel will quote an ‘acting for lender’ fee and others do not.
I have decided to exercise my right to buy my property in Ledbury off the council. I have a mortgage agreed with Barclays. 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 Barclays, you will need to appoint a solicitor on the Barclays conveyancing panel.
My cousin has encouraged me to instruct his conveyancers in Ledbury. Should I find my own property lawyer?
There are no two ways about it the ideal way to choose a conveyancing practitioner is to get referrals from friends or relatives who have actually experience in using the conveyancer you're are thinking of instructing.
Last December I purchased a leasehold house in Ledbury. Do I have any liability for service charges for periods before completion of my purchase?
Where the service charge has already been demanded from the previous owner and they have not paid you would not usually be personally liable for the arrears. Strange as it may seem, your landlord may still be able to take action to forfeit the lease. It is an essential part of leasehold conveyancing for your conveyancer to be sure to have an up to date clear service charge receipt before completion of your purchase. If you have a mortgage this is likely to be a requirement of your lender.
If you purchase part way through an accounting year you may be liable for charges not yet demanded even if they relate to a period prior to your purchase. In such circumstances your conveyancer would normally arrange for the seller to set aside some money to cover their part of the period (usually called a service charge retention).
I inherited a 2 bed flat in Ledbury, conveyancing formalities finalised half a dozen years ago. Can you let me have an estimated range of the fair premium for a lease extension? Similar properties in Ledbury with over 90 years remaining are worth £260,000. The ground rent is £45 yearly. The lease expires on 21st October 2098
With just 74 years left to run we estimate the premium for your lease extension to be between £8,600 and £9,800 as well as costs.
The figure above a general guide to costs for extending a lease, but we cannot give you the actual costs in the absence of detailed due diligence. Do not use the figures in a Notice of Claim or as an informal offer. There may be additional issues that need to be considered and you obviously want to be as accurate as possible in your negotiations. You should not take any other action based on this information without first getting professional advice.