The deeds to my house are lost. The conveyancers who conducted the conveyancing in Leyburn 5 years ago have long since closed. What do I do?
Assuming the title is registered the information relating to your ownership will be evidenced by the Land Registry with a Title Number. It is easy to carry out a search at the Land Registry, find your house and get current copies of the property title for less than a fiver. If the title is Leasehold then the Land Registry will in most cases hold a certified copy of the Registered Lease and again, a copy can be obtained for twenty pounds.
I'm purchasing my first flat in Leyburn with the aid of help to buy. The sellers refused to move on the price so I negotiated five thousand pounds worth of additionals instead. The sale representative suggested that I not to tell my solicitor about this side-deal as it will affect my mortgage with the bank. Should I keep quiet?.
All lenders require a Disclosure of Incentives Form from the developer of any new build, converted or renovated property, It is available online from the Lenders’ Handbook page on the CML website. CML form is completed and handed to the lender's surveyor when the inspection is done.
Lenders have different policies on incentives. Some accept none at all, cash or physical, while others will accept cash incentives up to 5%.
Hard to understand why the representative of a builder would be suggesting you withold information from a solicitor when all this will be clearly visible on forms the builder has to supply to its solicitor, the buyer's solicitor and the surveyor.
I'm converting the mortgage on my current home to a buy to let mortgage with The Royal Bank of Scotland and I will use the rest of the raised equity towards another house. The location we are talking about is Leyburn. Will your lawyers be able to act for both sets of banks and tie in the two deals?
Do use our search tool on this site to be sure that the conveyancers are approved by both mortgage companies. Assuming that they are your conveyancer will be able to tie up the two transactions but you should talk with you lawyer and specify your expectations and needs.
I am a negotiator for a reputable estate agent office in Leyburn where we have witnessed a number of leasehold sales derailed due to short leases. I have received conflicting advice from local Leyburn conveyancing solicitors. Could you shed some light as to whether the owner of a flat can commence the lease extension formalities for the purchaser on completion of the sale?
Provided that the seller has been the owner for at least 2 years it is possible, to serve a Section 42 notice to commence the lease extension process and assign the benefit of the notice to the purchaser. This means that the buyer can avoid having to sit tight for 2 years to extend their lease. Both sets of lawyers will agree to form of assignment. The assignment has to be done prior to, or at the same time as completion of the disposal of the property.
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 purchaser.
Leyburn Leasehold Conveyancing - A selection of Queries Prior to Purchasing
Are any of leasehold owners in dispute over their service charge payments? Where a Leyburn lease has fewer than eighty years it will affect the marketability of the flat. Check with your lender that they are happy with the length of the lease. A short lease means that you will probably require a lease extension at some point and it is worth discovering how much this will be. Remember, in most cases you would be required to have owned the property for 24 months before you are entitled to extend the lease. Is anyone aware of any major works in the planning that could add a premium to the maintenance costs?
How and when do I incur stamp duty payable for my Leyburn property purchase?
The majority of conveyancing practitioners will fill out a Land Transaction Return Form on your behalf during your Leyburn conveyancing transaction for signature. After completion your lawyer will submit the STL Return Form to the Inland Revenue and - as long as they have the funds - discharge any land tax due for you.