My conveyancer has discovered a a problem with the lease for the flat we are purchasing in North Yorkshire. The other side have suggested title insurance as a workaround. We are content with insurance and will cover the costs. Our conveyancing practitioner has advised that he must ensure that the bank is happy with this solution. Are we the client or is the mortgage company ?
Regardless of the fact that you have a mortgage offer from the lender does not mean to say that the property will meet their requirements for the purposes of a mortgage. Your lawyer has to ensure that the lease has to comply with the UK Finance Lenders’ Handbook specifications. You and the bank are the client. These conveyancing instructions must be adhered to.
My husband and I are purchasing a newbuild apartment in North Yorkshire with a mortgage from Aldermore.We would like to retain our North Yorkshire conveyancing practitioner but Aldermore says he's not listed on their approved list of member firms. It seems we are left with little choice but to instruct a Aldermore panel firm or keep our preferred solicitor and fork out for a Aldermore panel lawyer to act for them. This seems very unfair; is there anything we can do?
Unfortunately,no. The loan offered to you contains various provisions, one of which will be that solicitors will be on the Aldermore solicitor panel. in the past, most lenders had large numbers of law firms on their panels: a borrower could find one for themselves, as long as it was on the lender's panel. The lender would then simply instruct the borrower's lawyers to act for the lender, too. You can use your lender's panel lawyers or you could borrow from another lender which does not restrict your choice. Another option that might be available is for your lawyer to apply to be on the conveyancing panel for Aldermore
Do I choose a Licenced Conveyancer or Solicitor for conveyancing in North Yorkshire?
There are many registered licenced Conveyancers in North Yorkshire and Solicitor practices in North Yorkshire who can assist with your conveyancing It is important to make clear that both are supervised by regulatory bodies with both specialising in the legal aspects of the home buying process. Both can deal with associated property related work such as remortgage conveyancing, lease extensions and transfer of equity conveyancing.
I am helping my sister sell her flat in North Yorkshire. Does the solicitor arrange the energy assessment or do I organise this?
Following the abolition of HIPs, EPC’s remained a mandatory part of selling a property. An energy performance certificate needs to be to hand before the property is advertised. It is not a task that lawyers normally arrange. If you are using a North Yorkshire conveyancing practitioner they might be willing to arrange EPC’s due to their relationships with reputable North Yorkshire providers
My partner and I are spending time looking at flats in North Yorkshire and I am now considering a potential offer. Is it sensible to have a conveyancer on ‘stand by’? I will be getting a home loan with Lloyds.
You should start obtaining 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 EA. As you are taking out a mortgage with Lloyds, make sure you remember to check that your lawyer is on the Lloyds conveyancing panel.
My husband and I are first time buyers - had an offer accepted, but the property agent informed us that the owners will only issue a contract if we appoint their recommended solicitors as they are insisting on a ‘quick sale’. My instinct tells me that we should use a local conveyancer used to conveyancing in North Yorkshire
We suspect that the seller is unaware of this request. If they require ‘a quick sale', taking such a hostile approach to a motivated purchaser is likely to cause more damage than good. Contact the vendors directly and explain that (a)you are genuine buyers (b)you are excited to move forward, with mortgage lined up © you are unencumbered (d) you wish to move quickly (e)but you intend to instruct your preferred North Yorkshire conveyancing lawyers - not the ones that will give their estate agent a introducer fee or achieve conveyancing figures set by head office.
Harry (my fiance) and I may need to sub-let our North Yorkshire basement flat for a while due to a new job. We used a North Yorkshire conveyancing practice in 2004 but they have closed and we did not have the foresight to seek any advice as to whether the lease allows us to sublet. How do we find out?
Your lease dictates the relationship between the landlord and you the leaseholder; specifically, it will say if subletting is banned, or permitted but only subject to certain caveats. The rule is that if the lease contains no expres ban or restriction, subletting is allowed. The majority of leases in North Yorkshire do not prevent an absolute prevention of subletting – such a provision would adversely affect the market value the property. Instead, there is usually a basic requirement that the owner notifies the freeholder, possibly supplying a duplicate of the tenancy agreement.
I own a basement flat in North Yorkshire, conveyancing having been completed in 1999. Can you give me give me an indication of the likely cost of a lease extension? Comparable properties in North Yorkshire with a long lease are worth £191,000. The average or mid-range amount of ground rent is £55 charged once a year. The lease finishes on 21st October 2076
With 53 years unexpired the likely cost is going to span between £27,600 and £31,800 as well as plus your own and the landlord's "reasonable" professional fees.
The figure above a general guide to costs for extending a lease, but we cannot give you the actual costs without more comprehensive investigations. You should not use this information in tribunal or court proceedings. There may be other concerns that need to be taken into account and you obviously should be as accurate as possible in your negotiations. You should not take any other action placing reliance on this information before getting professional advice.