I can not fathom if my lender obliges me to make sure the lease term for the flat is extended prior to the completion date. I have called into my local Woore building society branch on a couple of occasions and was told they are content with the situation and they will lend. My Woore conveyancing solicitor - who is on the lender conveyancing panel- called and was told they would not lend in accordance with their published requirements. Who do I believe?
As long as the conveyancer is on the lender panel, they must adhere to the Council of Mortgage Lenders’ Handbook requirements for the bank. Unless your lawyer obtains specific confirmation in writing that the lender will go ahead, your lawyer has no choice but to refrain from exchanging contract and committing you to the purchase. We would suggest that you ask the lender to contact your lawyer in writing confirming that they will accept the number of years left on the lease.
After much negotiation I have agreed a price on an apartment in Woore. My mortgage broker suggested a solicitor. I paid an on account payment of £150. Soon after, the property lawyer called me embarrassingly acknowledging that they were not on the Yorkshire BS conveyancing panel. Am I right in thinking that I should be due a refund?
You should be able to recover this from the law firm if they were not on the Yorkshire BS panel. They should have asked at the outset which lender you were obtaining a mortgage with. An important lesson to readers of this site is to check that the lawyers are on the appropriate lender panel.
I am selling my flat. I had a double glazing fitted in January 2006, but did not receive a FENSA certificate or Building Regulation Certificate. My buyer's mortgage company, Aldermore are being difficult. The Woore solicitor who is on the Aldermore conveyancing panel is recommending indemnity insurance as a solution but Aldermore are insisting on a building regulation certificate. Why do Aldermore have a conveyancing panel if they don't accept advice from them?
It is probably the case that Aldermore have referred the matter to their valuer. The reason why Aldermore may not want to accept indemnity insurance is because it does not give them any reassurance that the double glazing was correctly and safely installed. The indemnity insurance merely protects against enforcement action which is very unlikely anyway.
How does conveyancing in Woore differ for newly converted properties?
Most buyers of new build residence in Woore contact us having been asked by the housebuilder to exchange contracts and commit to the purchase even before the premises is built. This is because builders in Woore usually buy the site, plan the estate and want to get the plots sold off as they are building the properties. Buyers, therefore, will have to exchange contracts without actually seeing the house they are buying. To reduce the chances of losing the property, buyers should instruct conveyancers as soon as the property is reserved and mortgage applications should be submitted quickly. Due to the fact that it could be several months and even years between exchange of contracts and completion, the mortgage offer may need to be extended. It would be wise to use a lawyer who specialises in new build conveyancing especially if they are accustomed to new build conveyancing in Woore or who has acted in the same development.
Yesterday I discovered that there is a flying freehold element on a property I have offered on last month in what should have been a quick, chain free conveyancing. Woore is the location of the property. Can you shed any light on this issue?
Flying freeholds in Woore are not the norm but are more likely to exist in relation to terraced houses. Even where you use a solicitor outside Woore you must be sure that your lawyer goes through the deeds very carefully. Your mortgage company may require your conveyancing solicitor to take out an indemnity policy. Some of the more diligent conveyancing solicitors in Woore may ascertain 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.
My husband and I are new to the buying process - agreed a price, but the estate agent advised that the vendor will only go ahead if we instruct the agent's preferred conveyancers as they need an ‘expedited deal’. My instinct tells me that we should use a local conveyancer who is familiar with conveyancing in Woore
It is highly unlikely the sellers are behind this. If they desire ‘a quick sale', turning down a serious purchaser is likely to cause more damage than good. Bypass the agents and go straight to the owners and make the point that (a)you are genuine purchasers (b)you are excited to move forward, with mortgage lined up © you have nothing to sell (d) you wish to move quickly (e)however you will continue to instruct your own,trusted Woore conveyancing solicitors - rather thanthe ones that will earn the negotiator at the agency a referral fee or achieve conveyancing targets demanded by HQ.
My wife and I purchased a leasehold house in Woore. Conveyancing and Bank of Scotland mortgage went though with no issue. A letter has just been received from someone saying they have taken over the freehold. It included a demand for arrears of ground rent dating back to 1998. The conveyancing solicitor in Woore who acted for me is not around. What should I do?
First contact the Land Registry to be sure that this person is indeed the registered owner of the freehold reversion. It is not necessary to incur the fees of a Woore conveyancing practitioner to do this as you can do this on the Land Registry website for £3. You should note that regardless, even if this is the legitimate landlord, under the Limitation Act 1980 the limitation period for recovery of ground rent is six years.
I purchased a leasehold flat in Woore, conveyancing having been completed November 2012. How much will my lease extension cost? Corresponding flats in Woore with an extended lease are worth £227,000. The ground rent is £50 invoiced annually. The lease terminates on 21st October 2091
With just 72 years left to run the likely cost is going to be between £9,500 and £11,000 plus legals.
The suggested premium range above a general guide to costs for extending a lease, but we are not able to provide the actual costs in the absence of comprehensive due diligence. You should not use the figures in tribunal or court proceedings. There may be other concerns that need to be considered and you obviously should be as accurate as possible in your negotiations. You should not take any other action based on this information without first getting professional advice.