I am told that my conveyancing solicitors will need to check that the building insurance for my purchase of a house in Wynyard. My lender is Bank of Ireland

Bank of Ireland have specific requirements as set out in the UK Finance Lenders’ Handbook. As of 18/10/2024, the requirements read as follows :

Have just purchased a probate house at auction in Wynyard. Conveyancing is necessary. What are my next steps?

Now that you are exchanged you now have to find a conveyancing practitioner soon as you now have a tight a fixed date to complete the purchase. All auction property will ordinarily have an associated auction set of papers. This will include the copy title deeds, local authority and drainage searches. If you have purchased leasehold premises the auction pack may provide a copy of the lease, management information and a sellers leasehold information form and other conveyancing paperwork pertinent to a leasehold property. You need to give this to your appointed conveyancing solicitor as soon as possible. Do make sure that that you have the requisite funding organised to complete on the on the contractual date .

This question may be naive but I am unexperienced as FTB of a ground floor flat in Wynyard. Do I pick up the keys to the house on the completion date from my solicitor? If this is the case, I will instruct a High Street conveyancing solicitor in Wynyard?

On the day of completion you will not be required to go to the conveyancers office in Wynyard. Your solicitors will arrange to send the completion advance to the seller's conveyancers, and once they have received this, you will be called to collect the keys from the Estate Agents and start moving into the property. Usually this occurs early afternoon.

is it true that all Wynyard conveyancing solicitors on the Yorkshire BS conveyancing panel are regulated by the SRA?

As solicitors, in order to be on the Yorkshire BS conveyancing panel they would need to be regulated by the SRA. Some banks do permit licenced conveyancers on their panel and in such a situation the practice would be overseen by the CLC.

I am purchasing a new build house in Wynyard with the aid of help to buy. The sellers refused to move on the amount so I negotiated five thousand pounds worth of fixtures and fittings instead. The house builders rep told me not reveal to my solicitor about this extras as it would adversely affect my loan with Bank of Ireland. Should I keep quiet?.

All lenders require a Disclosure of Incentives Form from the developer 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.

I have been on the look out for a leasehold apartment up to £245,000 and found one round the corner in Wynyard I like with open areas and railway links nearby, however it only has 61 years unexpired on the lease. There is not much else in Wynyard for this price, so just wondered if I would be making a grave error buying a short lease?

If you need a mortgage that many years will likely be problematic. Reduce the offer by the expected lease extension will cost if not already taken into account. If the existing proprietor has owned the property for at least 2 years you could request that they start the process of the extension and then assign it to you. An additional ninety years can be extended on to the current lease and have £0 ground rent by law. You should speak to your conveyancing solicitor concerning this.

I own a leasehold house in Wynyard. Conveyancing and The Royal Bank of Scotland mortgage went though with no issue. A letter has just been received from someone saying they have taken over the freehold. Attached was a ground rent demand for rent dating back to 1998. The conveyancing practitioner in Wynyard who acted for me is not around. Any advice?

First contact HMLR to make sure that this person is indeed the registered owner of the freehold reversion. It is not necessary to incur the fees of a Wynyard conveyancing practitioner to do this as you can do this on the Land Registry website for less than a fiver. Rest assured that in any event, even if this is the rightful freeholder, under the Limitation Act 1980 no more than 6 years of rent can be collected.

I purchased a ground floor flat in Wynyard, conveyancing having been completed 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? Similar flats in Wynyard with a long lease are worth £206,000. The average or mid-range amount of ground rent is £45 yearly. The lease runs out on 21st October 2091

With just 67 years unexpired we estimate the premium for your lease extension to range between £10,500 and £12,000 as well as costs.

The figure that we have given is a general guide to costs for extending a lease, but we cannot give you the actual costs in the absence of detailed due diligence. Do not use this information in a Notice of Claim or as an informal offer. There may be other concerns that need to be considered and clearly you should be as accurate as possible in your negotiations. You should not move forward based on this information without first seeking the advice of a professional.