Why is leasehold purchase conveyancing in Wolvey is more expensive?

Wolvey leasehold properties involve far more paperwork than a freehold purchase, and therefore takes more time to examine and advise upon.Conveyancing will involve the lease having to be checked which is usually a lengthy document, queries raised to ensure that the covenants and conditions have been observed. If it is a flat there will be a management company in existence and the accounts of this will need to be checked and enquiries raised to ensure it is operating efficiently and that all monies due have been paid by the Seller to the company and if not ensuring that money is paid up to date or the appropriate undertakings obtained.

We are buying a 4 bedroom semi-detached house in Wolvey. Our aim is to convert the garage to a playroom at the house.Will legal due diligence on the property involve investigations to see if these works were previously refused?

Your property lawyer will review the registered title as conveyancing in Wolvey will sometimes reveal restrictions in the title deeds which restrict categories of works or require the permission of a 3rd party. Many additions need local authority planning consent and approval in accordance building regulations. Some areas are designated conservation areas and special planning restrictions apply which often prevent or impact extensions. You should check these things with a surveyor ahead of any purchase.

I have paid off my mortgage with Leeds Building Society. I assume I don't need a Wolvey solicitor on the Leeds Building Society panel to remove the mortgage at the Land Registry. Am I right?

If you have finished paying off your Leeds Building Society mortgage, they may send you evidence showing that you have paid it off. Alternatively they may notify the Land Registry directly. The Land Registry need to see this evidence before they will remove the Leeds Building Society mortgage from the register. Leeds Building Society, and any evidence they send you, will determine the action you need to take. In cases where no conveyancer is acting for you and you have paid off your mortgage:

1. but are not moving to another property
2. where Leeds Building Society has sent the Land Registry the discharge electronically, and
3. Leeds Building Society has instructed the Land Registry to do so

I can not work out if my mortgage offer obliges me to make sure the lease term for the flat is extended prior to the completion date. I have called into my local Wolvey bank branch on numerous occasions and was told they are content with the situation and they would lend. My Wolvey conveyancing solicitor - who is on the lender conveyancing panel- called and was told they will not lend in accordance with their UK Finance Lenders’ Handbook minimum lease term requirements. I simply don't know who is right.

Provided that the property lawyer is on the bank panel, they must follow the CML Handbook provisions for the bank. Unless your lawyer obtains specific confirmation in writing that the mortgage company will go ahead, your lawyer has no choice but to refrain from exchanging contract and committing you to the purchase. We would suggest that you ask the bank to contact your lawyer in writing confirming that they will accept the number of years remaining.

It has been three months since my purchase conveyancing in Wolvey completed. I have checked the Land Registry website which shows that I paid £150,000 when infact I paid £180,000. Why the discrepancy?

The price paid figure is taken from the application to register the purchase. It is the figure included in the Transfer (the legal deed which transfers the residence from one person to the other) and referred to as the 'consideration' or purchase price. You can report an error in the price paid figure using the LR online form. In most cases errors result from typos so at first glance the figure. Do report it so they can double check and advise.

How does conveyancing in Wolvey differ for new build properties?

Most buyers of new build or newly converted property in Wolvey approach us having been asked by the developer to exchange contracts and commit to the purchase even before the premises is finished. This is because new home sellers in Wolvey tend to acquire the real estate, 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 used to new build conveyancing in Wolvey or who has acted in the same development.

What is the reason for my conveyancer requiring a list of items of ID before they can commence with my conveyancing in Wolvey?

Wolvey lawyers are duty bound by the Law Society, Solicitors Regulation Authority, the Land Registry and current Money Laundering Regulations to certify that the have verified the identity of their clients. It is also sometimes a condition of your mortgage offer. Furthermore they have to complete various forms, particularly those relating to Land Tax and need to have information such as your full names, national insurance number and DOB.