I was advised today by my mortgage adviser that my Otley the law firm I have appointed is not on the lender Solicitor panel. What can I do to be sure that this is correct?
Your first step should be to contact your Otley conveyancer. You lawyer should notify you of the situation. If they are not on the panel they could put your in touch with solicitors on the approved list of lawyers for your lender.
Having sold my house in Otley last August but our buyer keeps SMS messaging me to say their lawyer needs to hear from mysolicitor. What are the post completion sale formalities now that I have sold?
After completion of your disposal your solicitor should send the transfer documentation and all additional paperwork to the buyer’s conveyancer. If applicable, your solicitor should also confirm that the home loan has been redeemed to the purchasers solicitors. There are no post completion steps unique to conveyancing in Otley.
I am buying a semi-detached house in Otley. Conveyancing solicitors are said to be ‘a necessary evil’ but can I do it myself?
Leaving aside the complexities and merits of DIY conveyancing in Otley you will have to appoint a solicitor on your bank's conveyancing panel to look after their interests. Most people therefore find it easier to let the solicitor act for them and the lender. Furthermore there is minimal cost savings to be made in you doing conveyancing for yourself and another lawyer conducting the conveyancing for the lender. Please feel free to use the search tool to find a lawyer on your lender panel in Otley.
I'm refinancing my primary property to a buy to let mortgage with Clydesdale and I will use the ballance of the raised equity as a deposit on a second property. The location we are interested in is Otley. Will your conveyancers be able to act for the two mortgage companies and link together the conveyances?
Do use our search tool on this page to ensure that the lawyers are on the appropriate lender panels. Assuming that they are the conveyancer should be able to connect the two deals but you should talk with you solicitor and make apparent your expectations and needs.
Last July I purchased a leasehold flat in Otley. Do I have any liability for service charges relating to a period prior to my ownership?
Where the service charge has already been demanded from the previous lessee and they have not paid you would not usually be personally liable for the arrears. Strange as it may seem, your landlord may still be able to take action to forfeit the lease. A critical element of leasehold conveyancing for your conveyancer to ensure to have an up to date clear service charge receipt before completion of your purchase. If you have a mortgage this is likely to be a requirement of your lender.
If you purchase part way through an accounting year you may be liable for charges not yet demanded even if they relate to a period prior to your purchase. In such circumstances your conveyancer would normally arrange for the seller to set aside some money to cover their part of the period (usually called a service charge retention).
I purchased a leasehold flat in Otley, conveyancing formalities finalised March 2006. Can you shed any light on how much the price could be for a 90 year extension to my lease? Similar properties in Otley with over 90 years remaining are worth £191,000. The average or mid-range amount of ground rent is £55 invoiced every year. The lease runs out on 21st October 2071
With 53 years remaining on your lease the likely cost is going to be between £27,600 and £31,800 as well as professional fees.
The figure 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 comprehensive investigations. Do not use this information in a Notice of Claim or as an informal offer. There are no doubt additional concerns that need to be taken into account and clearly you want to be as accurate as possible in your negotiations. You should not move forward based on this information before getting professional advice.