The Normanton conveyancing firm handling our Normanton conveyancing has spotted a difference between the information in the home valuation survey and what is revealed within the title deeds. My solicitor has advised that he is obliged to ensure that the lender is OK with this discrepancy and is content to go ahead. Is my lawyer’s stance appropriate?
Your conveyancing practitioner must comply with the UK Finance Lenders’ Handbook specifications which do require that your lawyer disclose any incorrect assumptions in the lender’s valuation report and the legal papers. Should you refuse to allow your lawyer to make the appropriate notification then your lawyer will have no choice but to discontinue acting for both parties.
The Normanton conveyancing firm that I recently instructed on my house acquisition in Normanton have without warning closed. I only went with them because I needed a firm on the Skipton conveyancing panel and my family Normanton lawyer was not. I paid them £170 on account. What are my options?
Assuming that you have an Estate Agent in the equation then inform them immediately so that they advise the vendors that there may be a slight delay due to reasons beyond your control. Hopefully they will be sympathetic and urge their lawyer to send a new set of papers to your new solicitors. You will need to appoint new lawyers that are on the Skipton conveyancing panel and notify the lender. If you have paid over any money, it will hopefully be held by the SRA as money in an intervened firm's bank accounts is transferred to the SRA. Then, the SRA or the intervention agent looks at the intervened firm's accounts to work out who the money belongs to. To claim your money you will need to contact the SRA. If the SRA cannot return money you are owed from the firm's bank accounts, or if they can only return part of the money, you can apply to the Compensation Fund for a grant. Your new solicitors should be in a position to assist.
A colleague advised me that in purchasing a property in Normanton there may be a number of restrictions affecting the ability to carry out external changes to the property. Is this right?
There are anumerous of properties in Normanton which have some sort of restriction or requirement of consent to execute external alterations. Part of the conveyancing in Normanton should determine what restrictions are applicable and advising you as part of a ROT that should be sent to you.
My partner and I are in the throws of looking at houses in Normanton and I am now considering a potential offer. Is it advisable to have a solicitor on ‘stand by’? I intend to finance via a home loan with RBS.
You should start requesting conveyancing estimates from solicitors ASAP. After you have chosen your lawyer and once your offer is accepted you can instruct them to work for you and pass their details on to the selling agent. As you are getting a mortgage with RBS, make sure you remember to check that your lawyer is on the RBS conveyancing panel.
I can not work out if my lender requires a lease extension. I have called into my local Normanton bank branch on a couple of occasions and was told it wasn't an issue and they would lend. My Normanton conveyancing solicitor - who is on the bank conveyancing panel- called to say that they refuse to lend in accordance with their published requirements. I simply don't know who is right.
The property lawyer must comply with the CML Handbook section two specifications for your lender. Unless your lawyer obtains specific confirmation in writing that the bank will go ahead, your lawyer has no choice but to refrain from exchanging contract and committing you to the purchase. We would suggest that you ask the bank to contact your lawyer in writing confirming that they will accept the number of years left on the lease.
My husband and I are a fortnight into a leasehold purchase having been recommend to solicitors by the estate agent to handle our conveyancing in Normanton. We are not happy. Could you help me find new conveyancers?
They would need to be really bad to suggest changing them. Has the mortgage offer been generated? In the event that it has you must make them aware of the new lawyer and have the loan are issued to the new lawyers. Your solicitor ideally needs to be on the lenders approved list to avoid escalating costs and complications. That should be your starting point. The find a solicitor tool should assist you in finding a bank approved lawyer for your conveyancing in Normanton
I have just started marketing my garden flat in Normanton. Conveyancing solicitors are to be appointed soon, however I have just had a half-yearly maintenance charge invoice – what should I do?
It best that you pay the service charge as you normally would given that all rents and maintenance payments should be apportioned on completion, so you will be reimbursed by the buyer for the period running from after the completion date to the subsequent invoice date. Most management companies will not acknowledge the buyer unless 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. Having a clear account will assist your cause and will leave you no worse off financially.
I invested in buying a 2 bed flat in Normanton, conveyancing was carried out 6 years ago. Can you please calculate a probable premium for a statutory lease extension? Comparable flats in Normanton with over 90 years remaining are worth £186,000. The average or mid-range amount of ground rent is £55 invoiced annually. The lease ends on 21st October 2077
With only 52 years left to run we estimate the price of your lease extension to range between £29,500 and £34,000 plus legals.
The figure above a general guide to costs for extending a lease, but we cannot give you a more accurate figure in the absence of comprehensive investigations. Do not use the figures in a Notice of Claim or as an informal offer. There are no doubt other issues that need to be taken into account and clearly you should be as accurate as possible in your negotiations. You should not move forward placing reliance on this information before seeking the advice of a professional.