Two weeks ago we had a mortgage agreed in principle with Yorkshire BS. Hay On Wye conveyancing practitioners were instructed. How long does it take for Yorkshire BS to forward the offer to the property lawyer?
Some lenders take longer than others. Have Yorkshire BS done the valuation? Have you informed Yorkshire BS as to your lawyers' details and checked that your lawyers are on the Yorkshire BS conveyancing panel? Sometimes it can take as long as six weeks for a mortgage offer to be issued.
We have agreed to purchase a house in Hay On Wye. An unusual aspect is that the roof has a solar panel. Solicitors conducting should look into this right? Will my lender Yorkshire BS be concerned?
As your lender is Yorkshire BS your lawyer must comply with the conveyancing requirements outlined in Part two of UK Finance Lenders’ Handbook for Yorkshire BS. The Council of Mortgage Lenders’ Handbook contains minimum specifications for solar panel roof-space leases, and conveyancing practitioners are required to report to Yorkshire BS where a lease does not satisfy these provisions. The specifications relate to the installation of panels on properties nationwide and is not restricted to Hay On Wye.
UBS have agreed my home loan in principle, my offer on a apartment in Hay On Wye has been accepted, what are the next steps?
Your property agent will wish to know who your solicitors are (make sure the property lawyers are on the lender’s approved list). Telephone UBS or the broker and finalise any outstanding forms. UBS will instruct a valuer who will get in touch with the selling agent or seller to book a slot for the valuation to take place. Once carried out (assuming no problems) it takes about a fortnight to receive the mortgage offer. UBS will send the offer to you and your lawyers. The legal work will then take it’s course according the nature and complexity of the conveyancing in Hay On Wye.
About to purchase a new build flat in Hay On Wye. Conveyancing is daunting at the best of times but I have never purchased a new build flat before. What sort of enquires would be asked in new build legal work.
Here is a sample of a selection of leasehold new build questions that you should expect your new-build leasehold conveyancing in Hay On Wye
Please provide evidence that the form of Lease proposed has been approved by the Land Registry. Forfeiture - bankruptcy or liquidation must not apply under this provision. Has the Lease plan been approved by the Land Registry and if not when will they be lodged for this purpose? Will control of the Management Company (if any) be handed over to purchasers on completion of the last sale or earlier?
Due to the guidance of my in-laws I had a survey completed on a house in Hay On Wye prior to instructing solicitors. I have been advised that there is a flying freehold element to the house. The surveyor has said that some mortgage companies tend not issue a mortgage on a flying freehold home.
It varies from the lender to lender. Santander has different instructions for example to Birmingham Midshires. If you contact us we can check via the relevant bank. If you lender is happy to lend one our lawyers can assist as they are used to dealing with flying freeholds in Hay On Wye. Conveyancing can be more complicated and therefore you should check with your conveyancing solicitor in Hay On Wye to see if the conveyancing costs will increase in light of this.
I am using a search engine for the phrase conveyancing in Hay On Wye it reveals numerous property lawyerslocally. With so much choice what is the best way to find the right conveyancer for purchase transaction?
The ideal way of choosing the right conveyancer is via trusted referral, so enquire of colleagues and family who have acquired a property in Hay On Wye or a local estate agent or mortgage broker. Fees for conveyancing in Hay On Wye differ, so it's sensible to secure at least three fee calculations from different solicitors. Make sure that you clarify that the fees are fixed.
Back In 2002, I bought a leasehold flat in Hay On Wye. Conveyancing and Norwich and Peterborough Building Society mortgage went though with no issue. I have received a letter from someone saying they have taken over the freehold. It included a demand for arrears of ground rent dating back to 1994. The conveyancing practitioner in Hay On Wye who acted for me is not around. Do I pay?
The first thing you should do is make enquiries of HMLR to make sure that this person is in fact the new freeholder. It is not necessary to instruct a Hay On Wye conveyancing practitioner to do this as you can do this on the Land Registry website for a few pound. You should note that in any event, even if this is the legitimate landlord, under the Limitation Act 1980 the limitation period for recovery of ground rent is six years.
Leasehold Conveyancing in Hay On Wye - A selection of Queries Prior to Purchasing
If a Hay On Wye lease has fewer than eighty years it will affect the value of the property. It is worth checking with your mortgage company that they are content with residual term of the lease. Leases with less than 80 years remaining means that you will probably have to extend the lease at some point and you need to have some idea of what this would cost. Remember, in most cases you will need to own the residence for a couple of years before you are legally able to extend the lease. How much is the maintenance charge and ground rent on the flat? Are any of leasehold owners in arrears of their service charge liability?