Would the conveyancing lawyers that you recommend execute conveyancing in Barnetby le Wold by way of an attended exchange?

There are a few conveyancing specialists carrying out one day exchanges. Do call us to obtain a costs illustration and details as to availability.

2 months have elapsed following my purchase conveyancing in Barnetby le Wold took place. I have checked the Land Registry website which shows that I paid £200,000 when infact I paid £160,000. 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 asset 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.

I have been on the look out for a ground for flat up to £235,500 and found one round the corner in Barnetby le Wold I like with amenity areas and railway links nearby, the downside is that it only has 52 years on the lease. There is not much else in Barnetby le Wold for this price, so just wondered if I would be making a mistake buying a short lease?

If you need a mortgage the shortness of the lease will likely be problematic. Reduce the price by the expected lease extension will cost if not already taken into account. If the existing proprietor has owned the property for a minimum of 2 years you could ask them to commence the lease extension formalities 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 lawyer regarding this matter.

Is it best to instruct a Barnetby le Wold conveyancing solicitor in close proximity to the house I am hoping to buy? An old friend can execute the legal work however his firm is located approximately 350miles drive away.

The benefit of a high street Barnetby le Wold conveyancing firm is that you can pop in to sign documents, hand in your identification documents and pester them where appropriate. They will also have local intelligence which is a plus. However it's more important to get someone that will do a good and efficient job. If you know people who used your friend and in the main were content that must surpass using an unknown Barnetby le Wold conveyancing solicitor just because they are local.

Why do Barnetby le Wold conveyancing costs differ for leasehold and freehold properties?

Inevitably there is increased work needed in leasehold conveyancing. Barnetby le Wold has many leasehold properties. There is more hours involved in the purchase: for example, the lease and leasehold information (including current service charge, ground rent and buildings insurance details) obtained from the freeholder or managing agents. There are strict criteria that the lease must meet in order to be acceptable to a mortgage company. If it does not meet these requirements, the lease must be amended, which can involve additional expense for the seller.