Why do I have to pay up front for conveyancing in South Yorkshire?
If you are buying a property in South Yorkshire your solicitor will request that you put them with funds to cover the the cost of the conveyancing searches. This will be the total of the cost of the Local Authority Search. When the down payment is payable against the total price then this will be required shortly prior to exchange of contracts. The final balance that is needed will be payable shortly before completion.
Please help - my lawyer advises that breach of easement insurance is needed on my purchase. What is the typical level of cover needed for conveyancing in South Yorkshire?
The right level of breach of easement indemnity insurance depends on who your lender is. It would differ for example between Barclays and Chelsea Building Society. Conveyancing practitioners as opposed to borrowers take out such insurances.
I happen to be the only beneficiary of my late grandmother’s will and I have everything in my name now, including the my former home in South Yorkshire. The South Yorkshire property was put into my name in January. I now wish to sell up. I do know about the Mortgage Lenders six month 'rule', meaning my proprietorship could be treated the same way as if I'd bought the property in January. Will no one buy the property for half a year?
The CML handbook mandates solicitors to: "report to us immediately if the owner or registered proprietor has been registered for less than six months." Technically you could be impacted by that. How sensible a view mortgage companies take of it, depend on the bank as this obligation principally exists to capture subsales or the quick reselling of properties.
We had chosen solicitors locally in South Yorkshire on the Virgin Money solicitor panel. They have just billed me a further amount for dealing with the Virgin Money mortgage. Is this an additional conveyancing fee set by Virgin Money?
As unfair as it may appear, as long as it’s in their Terms and Conditions or estimate then yes your lawyer can levy a fee for this. This charge is not dictated by Virgin Money but by your South Yorkshire solicitor. Plenty of firms on the Virgin Money panel will levy an ‘acting for lender’ fee but many firms include it on their overall fee.
A relative suggested that where I am purchasing in South Yorkshire I should carry out a Neighbourhood, Planning and Local Amenity Search. Can you explain what the purpose of this search is?
This is a search is usually quoted for as part of the standard South Yorkshire conveyancing searches. It is not a small document of more than thirty pages, listing and detailing important information about South Yorkshire around the property and the people living there. It incorporates an Aerial Photograph, Planning Applications, Land Use, Mobile Phone Masts, Rights of Way, the local Housing Market, Council Tax Banding, the demographics of People living in the area, the dominant type of Housing, the Average Property Price, Crime statistics, Local Education with plans and statistics, Local Amenities and other useful data regarding South Yorkshire.
Are there restrictive covenants that are commonly picked up as part of conveyancing in South Yorkshire?
Restrictive covenants can be picked up when reviewing land registry title as part of the legal transfer of property in South Yorkshire. An 1874 stipulation that was seen was ‘The houses to be erected on the estate are each to be of a uniform elevation in accordance with the drawings to be prepared or approved by the vendor’s surveyor…’
Our conveyancer has advised that he intends to complete and exchange simultaneously on our sale of a £400,000 apartment in South Yorkshire next week. The managing agents has quoted £336 for Certificate of Compliance, building insurance schedule and previous years service charge statements. Is the landlord entitled to charge exorbitant fees for a leasehold conveyance in South Yorkshire?
South Yorkshire conveyancing on leasehold apartments normally involves fees being raised by freeholders :
Addressing pre-exchange questions
Where consent is required before sale in South Yorkshire
Supplying insurance information
Deeds of covenant upon sale
Registering of the assignment of the change of lessee after a sale
Leasehold Conveyancing in South Yorkshire - Examples of Questions you should consider Prior to Purchasing
How many of the leaseholders are in arrears for their service charge payments? Make sure you find out if there is anything that is prohibited in the lease. For instance it is very common in South Yorkshire leases that pets are not allowed in certain buildings in South Yorkshire. If you love the apartmentin South Yorkshire yet your dog is not allowed to make the move with you then you will be presented with a difficult determination. Does this lease have more than 85 years remaining?