Me and my partner are about to complete buying a house in Lunt but as a result of damage from some water damage at the property I have managed to agree reparation from the vendor in the sum of £2k taking the form of a adjustment in the price. This was going to be dealt with as part of amending the contract however Yorkshire BS are not allowing this. Why were they involved?
The solicitor being on the Yorkshire BS conveyancing panel is obliged to disclose to Yorkshire BS of any amendments to the sale price. If you were to refuse your lawyer to report the price change to Yorkshire BS then they would have to discontinue acting for you. In addition, Yorkshire BS and you would have to appoint a new solicitor for your conveyancing in Lunt.
My uncle passed away six months ago and as sole heir and executor I was left the house in Lunt. The house had a small mortgage left on it of around £4500. I want to have the title changed into my name whilst I re-mortgage to Clydesdale, pay off the mortgage. Is this allowed?
Given you plan to refinance then Clydesdale will insist on your using a conveyancer on the Clydesdale conveyancing panel. Here is link to the Land Registry online guidance around what to do when a property owner dies. This will help you to understand the registration process behind changing the details re the registered title. in your case it would appear that you are effectively purchasing the property from the estate. Your Clydesdale conveyancing panel solicitor pays the new mortgage money into the estate, the estate pays off the old mortgage, the charge is released and you become the owner and the Clydesdale mortgage is registered as a charge at the Land Registry.
I require quick conveyancing in Lunt as I have an ultimatum to sign on the dotted line in less than one month. A home loan is not required. Is it possible to avoid the conveyancing searches to save money and time?
If.Given you are not obtaining a home loan you have the choice not to do searches although no lawyer would advise that you don't. Drawing on years of experience of conveyancing in Lunt the following are instances of what can appear and adversely affect future mortgageability: Refused Planning Applications, Overdue Fees, Overdue Grants, Unadopted Roads,...
I have todaydiscovered that Stirling Law have closed. They carried out my conveyancing in Lunt for a purchase of a freehold house 10 months ago. How can I establish that my home is in my name in the name of the former proprietor?
The easiest way to see if the property is in your name, 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 Lunt conveyancing specialists.
I work for a reputable estate agent office in Lunt where we see a number of flat sales jeopardised as a result of leases having less than 80 years remaining. I have been given conflicting advice from local Lunt conveyancing firms. Could you clarify whether the owner of a flat can start the lease extension process for the purchaser on completion of the sale?
Provided that 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. The benefit of this is that the buyer need not have to wait 2 years for a lease extension. Both sets of lawyers will agree to form of assignment. The assignment needs to be completed before, 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 purchaser.
I bought a 1st floor flat in Lunt, conveyancing was carried out in 2012. Can you let me have an estimate of the premium that my landlord can legally expect in return for granting a renewal of my lease? Similar properties in Lunt with a long lease are worth £260,000. The average or mid-range amount of ground rent is £50 invoiced every year. The lease runs out on 21st October 2093
With just 75 years remaining on your lease we estimate the premium for your lease extension to range between £8,600 and £9,800 plus plus your own and the landlord's "reasonable" professional fees.
The suggested premium range that we have given is a general guide to costs for renewing a lease, but we cannot give you a more accurate figure without more detailed investigations. Do not use the figures in tribunal or court proceedings. There may be other concerns that need to be considered and you obviously should be as accurate as possible in your negotiations. You should not take any other action based on this information before getting professional advice.