My wife and I are due to complete buying a property in Selby but as a consequence of wreckage from a small fire at the property I have was able negotiate reparation from the vendor of £2k by way of a reduction in the price. I had intended this to be addressed as part of a side agreement but Kent Reliance are not allowing this. Should they have been involved?
Your conveyancing practitioner being on a Kent Reliance conveyancing panel is duty bound to inform Kent Reliance of any amendments to the sale price. If you were to refuse your conveyancing practitioner to report the reduction to Kent Reliance then they would have to discontinue acting for you. In addition, Kent Reliance and you would have to appoint a new solicitor for your conveyancing in Selby.
I have Fifty Six years left on my lease and require a lease extension for my apartment in Selby. Conveyancing solicitors on the Virgin panel can deal with such extensions right?
Most leasehold conveyancing experts should be able to deal with a lease extension. if you are obtaining a mortgage then your lender may insist that the lease be extended before competition. Virgin have specific requirements as set out in the UK Finance Lenders’ Handbook in relation to minimum unexpired lease terms. As of 19/7/2019 the requirements read as follows :
I got the keys to my flat on 16 September and the transaction details are still not on the land registry website. Should I be concerned? My conveyancing solicitor in Selby expressed confidence that it would be concluded in a couple of weeks. Are properties in Selby particularly slow to register?
There is nothing unique about conveyancing in Selby registration formalities. As opposed to being determined by geographic area, timescales can differ depending on the party submitting the application, whether there are errors and whether the Land registry have to notify any 3rd parties. Currently roughly three quarters of such applications are fully dealt with in less than three weeks but some can be subject to longer hold-ups. Historically registration takes place after the new owner is living at the property so 'speed' is not always top priority yet if it is urgent that the the registration takes place urgently then you or your solicitor should communicate with the Registry to express the reasoning for an expedited registration.
I'm buying a new build house in Selby with a mortgage from Leeds Building Society. The builders would not reduce the amount so I negotiated five thousand pounds worth of extras instead. The sale representative suggested that I not reveal to my solicitor about the side-deal as it would put at risk my loan with Leeds Building Society. Do I keep my lawyer in the dark?.
All lenders require a Disclosure of Incentives Form from the builder of any new build, converted or renovated property, It is available online from the Lenders’ Handbook page on the CML website. CML form is completed and handed to the lender's surveyor when the inspection is done.
Lenders have different policies on incentives. Some accept none at all, cash or physical, while others will accept cash incentives up to 5%.
Hard to understand why the representative of a builder would be suggesting you withold information from a solicitor when all this will be clearly visible on forms the builder has to supply to its solicitor, the buyer's solicitor and the surveyor.
Yesterday I discovered that there is a flying freehold issue on a house I put an offer in two weeks back in what should have been a straight forward, chain free conveyancing. Selby is where the house is located. Is there any guidance you can impart?
Flying freeholds in Selby are unusual but are more likely to exist in relation to terraced houses. Even where you use a solicitor outside Selby you must be sure that your lawyer goes through the deeds very carefully. Your lender may require your conveyancing solicitor to take out an indemnity policy. Some of the more diligent conveyancing solicitors in Selby may determine 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 residence.