I can't travel far from North Yorkshire. Can you please clarify why all North Yorkshire conveyancing practitioners are not on all mortgage company panels?
Before the recession most banks had an approach to risk which differs from the current day. The Financial Services Authority in 2010 carried out a thematic review into fraud which concluded: know the conveyancers on your panel. Consequently, mortgage companies have subsequently soughtmore information from law firms regarding their processes and the staff employed by them and set certain criteria such as completing a minimum volume of transactions. Hundreds of law practices have found themselves removed from lender panels even though they had an exemplary disciplinary record, no complaints and no claims and didn't just 'dabble' in conveyancing. Many firms found it impossible meet the minimum amount of transactions the mortgage companies insisted on.
My uncle passed away six months ago and as sole heir and executor I was left the house in North Yorkshire. The house had a relatively small loan remaining of approximately £4500. I want to have the title changed into my name whilst I re-mortgage to Santander, pay off the mortgage. Is this allowed?
Given you intend to refinance then Santander will require that you use a conveyancer on the Santander 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 Santander 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 Santander mortgage is registered as a charge at the Land Registry.
The deeds to our home can not be found. The conveyancers who conducted the conveyancing in North Yorkshire 10 years ago have long since closed. Will I be able to sell the house?
Nowadays there are copies made of almost everything, and your solicitor should be aware precisely where to locate all the appropriate paperwork so you can buy or dispose of your property without any difficulty. Where duplicates can’t be located, your solicitor can put in place insurance or indemnities against future claims on the property.
I've recently found out that there is a flying freehold issue on a house I put an offer in a fortnight ago in what should have been a straight forward, no chain conveyancing. North Yorkshire is where the house is located. Is there any advice you can impart?
Flying freeholds in North Yorkshire are unusual but are more likely to exist in relation to terraced houses. Even though you don't necessarily need a conveyancing solicitor in North Yorkshire you must be sure that your lawyer goes through the deeds diligently. Your lender may require your conveyancing solicitor to take out an indemnity policy. Some of the more diligent conveyancing solicitors in North Yorkshire may decide that this is not enough and that the deeds be re-written to give you the most up to date legal protection. If so, the next door neighbour also had to sign up to the revised deeds.It is possible that your lender will not accept the situation so the sooner you find out the better. You should also check with your insurance broker as to whether they will insure a flying freehold premises.
Due to complete next month on a garden flat in North Yorkshire. Conveyancing solicitors assured me that they will have a report out to me within the next couple of days. What should I be looking out for?
The report on title for your leasehold conveyancing in North Yorkshire should include some of the following:
Does the lease prevent you from renting out the flat, or working from home Defining your rights in respect of the communal areas in the block.E.G., does the lease provide for a right of way over an accessway or staircase? Whether your lease has a provision for a reserve fund? Details of the parties to the lease, for instance these could be the leaseholder, superior lessor, landlord You should be advised what is to be regarded as a Nuisance in the lease
I am the registered owner of a basement flat in North Yorkshire, conveyancing was carried out half a dozen years ago. Can you shed any light on how much the price could be for a 90 year extension to my lease? Equivalent flats in North Yorkshire with over 90 years remaining are worth £197,000. The average or mid-range amount of ground rent is £55 charged once a year. The lease comes to an end on 21st October 2076
You have 55 years left to run we estimate the price of your lease extension to span between £31,400 and £36,200 plus costs.
The suggested premium range that we have given is a general guide to costs for renewing a lease, but we are not able to advice on a more accurate figure without more comprehensive investigations. You should not use this information in tribunal or court proceedings. There are no doubt additional issues that need to be taken into account and clearly you want to be as accurate as possible in your negotiations. Please do not move forward based on this information before seeking the advice of a professional.