The owners have very assertive sellers who has insisted on a lock out contract with a deposit 6,000. Are such agreements sensible?
This kind of arrangement is not the norm in york, conveyancers are often found to direct clients away from them as they detract from the primary objective, namely conveyancing and if you end up losing your deposit then the solicitor is left exposed. Furthermore, there is no assurance that just because the owner has entered into a lock out agreement they will sell to you. They may breach the agreement if they are offered a large enough financial inducement to do so because a wronged claimant with the benefit of a lockoutcontract will still be obliged establish consequential losses from the breach and this may not equalise the extra amount that the owner may gain by breaching the agreement, no matter how morally reprehensible the behaviour is.
Can you explain why leasehold purchase conveyancing in york costs more?
The conveyancing costs for a leasehold premises in york is often greater than on a freehold residence. This is due to the extra time necessary in corresponding with the landlord and management company to obtain information about whether the rent and service fee have been paid and whether there are any major works due in the near future on repairs or maintenance of the block.
My grandmother passed away last year and as sole heir and executor I was left the property in york. The house had a relatively small loan left on it of around £5k. I want to have the title changed into my name whilst I re-mortgage to Lloyds, pay off the mortgage. Is this possible?
Where you plan to re-mortgage then Lloyds will require that you use a conveyancer on the Lloyds conveyancing panel. Here is link to the Land Registry online guidance around what to do when a property owner dies. This will help you to understand the registration process behind changing the details re the registered title. in your case it would appear that you are effectively purchasing the property from the estate. Your Lloyds conveyancing panel solicitor pays the new mortgage money into the estate, the estate pays off the old mortgage, the charge is released and you become the owner and the Lloyds mortgage is registered as a charge at the Land Registry.
We are purchasing a house in york. I might seem paranoid but how we can trust a lawyer? On the day of competition we have to send money into their account. What protection do we have from them run away with our monies?
Be assured that all money in a Solicitors client account is 100% safe, and even if your Solicitor ran off with it, the Law Society would reimburse you fully.
My wife and I buying a end of terrace house in york. Our aim is to carry out an extension to the side at the house.Will legal investigations on the property include checks to ascertain if these works are allowed?
Your property lawyer will review the deeds as conveyancing in york will occasionally identify restrictions in the title deeds which restrict categories of alterations or necessitated the permission of another owner. Many works require local authority planning permissions and approval under the building regulations. Some areas are designated conservation areas and special planning restrictions apply which frequently prevent or affect extensions. It would be sensible to check these issues with a surveyor ahead of any purchase.
I am the sole recipient of my late mum's will and I have everything in my name now, including the my former home in york. Conveyancing formalities meant that the Land Registry date was in July. I plan to dispose of the property. I do know about the Mortgage Lenders six month 'rule', meaning my property ownership will be treated the same way as if I'd bought the house in July. Is the property unsalable for six months?
The Council of Mortgage Lenders’ handbook requires solicitors to: "report to us immediately if the owner or registered proprietor has been registered for less than six months." Technically you might be affected by that. many banks would take a pragmatic view as this clause is principally there to identify subsales or the flipping of properties.
I was recommended by a few property agents in york to choose a property lawyer on your site. Is there a financial inducement for Estate Agents to promote your site over and above alternative conveyancing organisations?
We refuse to make any commission for sending work to this site. We thought it would be too underhand to pay a commission because a client could think, ‘How come the agent getting a kickback? Why am I not receiving any benefit too?’ So we decided to step away from that.
I am on look out for some leasehold conveyancing in york. Before I get started I would like to find out the number of years remaining on the lease.
Assuming the lease is recorded at the land registry - and 99.9% are in york - then the leasehold title will always include the basic details of the lease, namely the date; the term; and the original parties. From a conveyancing perspective such details then enable any prospective buyer and lender to confirm that any lease they are looking at is the one relevant to that title. For any other purpose, such as confirming how long the term was granted for and calculating what is left, then the register should be sufficient on it's own.
I inherited a basement flat in york, conveyancing was carried out 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? Comparable properties in york with an extended lease are worth £260,000. The average or mid-range amount of ground rent is £50 per annum. The lease ends on 21st October 2100
You have 75 years unexpired we estimate the premium for your lease extension to span between £8,600 and £9,800 plus plus your own and the landlord's "reasonable" professional fees.
The figure above a general guide to costs for extending a lease, but we cannot give you a more accurate figure without more comprehensive investigations. You should not use the figures in tribunal or court proceedings. There may be additional concerns that need to be considered and clearly you want to be as accurate as possible in your negotiations. Neither should you take any other action placing reliance on this information before getting professional advice.