I am acquiring a brand new flat in Filey and my conveyancer is telling me that she has to the bank to disclose incentives from the seller. I am under pressure to exchange and I have no desire to delay deal. is my lawyer playing by the book?

You should not exchange unless you have been advised to do so by your conveyancer. A precondition to being on a bank panel is to comply with the UK Finance Lenders’ Handbook conditions. The CML Conveyancing Handbook requires that your lawyer have the appropriate Disclosure of Incentive form completed by the developer and accepted by your lender.

Can you explain why leasehold purchase conveyancing in Filey is more expensive?

In short, leasehold conveyancing in Filey and North Yorkshire usually warrants extra work compared to freehold conveyancing. This includes analysing the lease terms, liaising with the landlord concerning serving required notices, procuring up-to-date service charge and management information, securing the freeholder’s consents and reviewing management accounts. The obligations on both the landlord and the tenant in the lease need to be studied by the buyer’s conveyancing team and read from beginning to end – regardless of the fact the lease has passed through many different property solicitors hands since it was first entered into.

I am considering applying for a Kent Reliance mortgage for purchase of a new build (under development) in Filey with 65 per cent loan to value. Is it compulsory to choose a solicitor on the conveyancing panel for Kent Reliance ?

In theory, you could use a solicitor that is not on the Kent Reliance conveyancing panel, but Kent Reliance would require one of their panel solicitors to be instructed to act in their interests, and you'd have to pay for this - so most people instruct a panel solicitor. It's also easier, as otherwise you'd have to deal with two solicitors for the same conveyancing matter.

I have todaybeen informed that Wolstenholmes have been shut down. They carried out my conveyancing in Filey for a purchase of a leasehold flat 10 months ago. How can I be sure that the property is registered correctly in the name of the former proprietor?

The quickest way to see if the premises is registered to you, you can make a search of the land registry (£3.00). You can either do this yourself or ask a law firm to do this for you. If you are not registered you can seek help from one of a number of Filey conveyancing specialists.

I work for a busy estate agent office in Filey where we have witnessed a few flat sales derailed as a result of short leases. I have received inconsistent advice from local Filey conveyancing solicitors. Can you clarify whether the owner of a flat can commence the lease extension formalities for the buyer?

As long as the seller has owned the lease for at least 2 years it is possible, to serve a Section 42 notice to kick-start the lease extension process and assign the benefit of the notice to the purchaser. This means that the proposed purchaser can avoid having to wait 2 years to extend their lease. Both sets of lawyers will agree to form of assignment. The assignment needs to be completed prior to, or at the same time as completion of the sale.

An alternative approach is to extend the lease informally by agreement with the landlord either before or after the sale. If you are informally negotiating there are no rules and so you cannot insist on the landlord agreeing to grant an extension or transferring the benefit of an agreement to the buyer.

Filey Conveyancing for Leasehold Flats - A selection of Questions you should consider before Purchasing

Is there a share of the freehold? Make sure you enquire if there is anything that is prohibited in the lease. By way of example it is reasonably common in Filey leases that pets are not permitted in certain buildings in Filey. If you love the flatin Filey but your dog can’t live with you then you will be faced difficult choice. Plenty Filey leasehold properties will be liable to pay a service bill for maintenance of the building set on behalf of the landlord. Should you purchase the flat you will have to pay this contribution, normally quarterly during the year. This may differ from a few hundred pounds to thousands of pounds for blocks with lifts and large communal grounds. In all probability there will be a ground rent to be met yearly, this is usually not a exorbitant amount, say about £25-£75 but you need to enquire it because on occasion it can be prohibitively expensive.