I'm the only beneficiary of my late mum's estate and I have everything in my name alone, including the house in Guiseley. The Guiseley property was put into my name in January. I want to move. I understand that there is a Mortgage Lenders 6 month 'rule', which means that my proprietorship could be treated the same way as if I'd bought the property in January. Do I have to wait half a year to sell?
The Council of Mortgage Lenders’ handbook instructs solicitors to: "report to us immediately if the owner or registered proprietor has been registered for less than six months." Technically you could be caught by that. How practical a view banks take of it, depend on the lender as this obligation principally exists to identify subsales or the wholesaling and assigning of property.
My wife and I have organised the release of further funds on our mortgage from UBS as we want to conduct alterations to our home in Guiseley. Are we obliged to select a bricks and mortar Guiseley solicitor on the UBS conveyancing panel to deal with the paperwork?
UBS don't usually appoint firms on their conveyancing panel to handle the formalities. If they do require any legal work then you would need to ensure that such a lawyer was on the UBS list.
I am expecting a AIP from Virgin Money this week so we know how much we could potentially offer as otherwise we are dependent on web based calculators (which aren't taking into account credit checks etc). Do Virgin Money recommend any Guiseley solicitors on the Virgin Money conveyancing panel, or is it better to go independently?
You will need to appoint Guiseley solicitors independently although you'll need to choose one on the Virgin Money conveyancing panel. The solicitor represents both you and Virgin Money through the process.
Due to the encouragement of my in-laws I had a survey completed on a house in Guiseley before retaining conveyancers. I have been advised that there is a flying freehold aspect to the property. Our surveyor has said that some banks may refuse to issue a loan on a flying freehold property.
It depends who your proposed lender is. Lloyds has different instructions from Nationwide. If you e-mail us we can check with the relevant mortgage company. If you lender is happy to lend one our lawyers can assist as they are used to dealing with flying freeholds in Guiseley. Conveyancing can be more complicated and therefore you should check with your conveyancing solicitor in Guiseley to see if the conveyancing costs will increase in light of this.
I am looking to sell my property. My past conveyancers have shut. I am in need of a recommendation of a conveyancing firm. I happen to live in Guiseley if that makes things easier.
Please use our search tool to help you choose a solicitor for your conveyancing in Guiseley. We have connected thousands of home buyers and sellers with lender approved solicitors to ensure that the legalities of their house move runs with a minimum of fuss.
My father has recommend that I use his conveyancing solicitors in Guiseley. Should I use them?
There are no two ways about it the best way to select a conveyancing practitioner is to have guidance from friends or relatives who have actually used the firm that you are are thinking of instructing.
I am attracted to a couple of flats in Guiseley which have in the region of 50 years left on the leases. Should I regard a short lease as a deal breaker?
There is no doubt about it. A leasehold flat in Guiseley is a wasting asset as a result of the shortening lease. The closer the lease gets to its expiry date, the more it reduces the salability of the property. The majority of purchasers and banks, leases with less than eighty years become less and less marketable. On a more upbeat note, leaseholders can extend their leases by serving a Section 42 Notice. One stipulation is that they must have owned the premises for two years (unlike a Section 13 notice for purchasing the freehold, when leaseholders can participate from day one of ownership). When successful, they will have the right to an extension of 90 years to the current term and ground rent is effectively reduced to zero. Before moving forward with a purchase of a residence with a short lease term remaining you should talk to a solicitor specialising in lease extensions and leasehold enfranchisement. We are are happy to put you in touch with Guiseley conveyancing experts who will explain the options available to you during an initial telephone conversation free of charge. More often than not it is possible to negotiate informally with the freeholder to extend the lease. They may agree to a smaller lump sum and an increase in the ground rent, but to shorter extension terms in return. You need to ensure that the agreed terms represent good long-term value compared with the standard benefits of the Section 42 Notice and that onerous clauses are not inserted into any redrafting of the lease.
Guiseley Conveyancing for Leasehold Flats - Examples of Queries before buying
Are there any major works anticipated that will increase the maintenance fees? How many of the leaseholders are in arrears for their maintenance charge payments? How much is the maintenance charge and ground rent on the flat?