We are purchasing a new build duplex in Harehills and my conveyancer is informing me that she has to the mortgage company to reveal incentives from the seller. The Estate Agents are hassling me to sign contracts and my preference is not to prolong deal. Is my lawyer right?
You should not exchange unless you have been advised to do so by your conveyancing practitioner. A precondition to being on a mortgage company panel is to comply with the UK Finance Lenders’ Handbook requirements. The CML Conveyancing Handbook requires that your lawyer have the appropriate Disclosure of Incentive form completed by the developer and accepted by your lender.
Various web forums that I have come across warn that are a common cause of obstruction in Harehills house deals. Is this right?
The Council of Property Search Organisations (CoPSO) has noted the findings of a review by MoveWithUs that conveyancing searches do not figure amongst the most frequent causes of hindrances during the legal transfer of property. Searches are unlikely to be the root cause of delay in conveyancing in Harehills.
I purchased a 4 bedroom Victorian property in Harehills. Conveyancing solicitor acted for me and Virgin Money. I happened to do a free search for it on the Land Registry database and I saw a couple of entries: the first freehold, the second leasehold under the exact same address. Is it worth asking Virgin Money to clarify?
You need to read the Freehold register you have again and check the Charges Register as there may be mention of a lease. The best way to be sure that you are also the registered owner of the leasehold and freehold title as well is to check (£3). It is not completely unheard of in Harehills and other areas of the country and poses no real issues for owners other than when they remortgage they have to account for both freehold and leasehold interests when dealing with lenders. You can also question the position with the conveyancing practitioner who carried out the work.
I have just started marketing my garden apartment in Harehills. Conveyancing lawyers have not yet been instructed, but I have just received a quarterly service charge demand – Do I pay up?
The sensible thing to do is clear the service charge as you normally would given that all ground rent and maintenance payments should be apportioned as part of the financial calculations for completion monies, so you should recover the relevant percentage by the buyer for the period running from after the completion date to the next payment date. Most managing agents will not acknowledge the buyer until the service charges have been paid and are up to date, so it is important for both buyer and seller for the seller to show that they are up to date. This will smooth the conveyancing process.
I bought a split level flat in Harehills, conveyancing formalities finalised in 2007. Can you work out an approximate cost of a lease extension? Comparable flats in Harehills with an extended lease are worth £165,000. The average or mid-range amount of ground rent is £50 levied per year. The lease expires on 21st October 2103
With just 78 years left to run we estimate the price of your lease extension to span between £7,600 and £8,800 plus plus your own and the landlord's "reasonable" professional fees.
The figure that we have given is a general guide to costs for renewing a lease, but we are not able to provide the actual costs without more comprehensive due diligence. Do not use this information in a Notice of Claim or as an informal offer. There may be other concerns that need to be taken into account and clearly you should be as accurate as possible in your negotiations. Please do not move forward based on this information without first seeking the advice of a professional.
I'm selling a apartment in Harehills. I have found my conveyancer's company on the Law Society's list, but I can't find my conveyancer's name as listed on the regulator's website. Should I be concerned?
Not every individual in the law firm must be listed by the regulator. As long there is a manager qualified to 'oversee' the work, the actual day-to-day activity can be undertaken by unlicensed staff.