Can you help - my lawyer advises that missing deeds insurance is required on my purchase. What is the level of cover for Arnside conveyancing?
The right level of missing deeds indemnity insurance depends on who your lender is. It would differ for example between Yorkshire Building Society and Coventry Building Society. Conveyancing practitioners as opposed to members of the public take out such insurances.
is it true that all Arnside solicitors on the Principality conveyancing panel are regulated by the SRA?
As a firm of solicitors, in order to be on the Principality approved list of solicitors they would need to be regulated by the Solicitors Regulatory Authority. Many banks do list licenced conveyancers on their panel in which case such organisation would be overseen by the Council of Licensed Conveyancers.
We have a mortgage agreed in principle with Leeds Building Society. Arnside conveyancing lawyers were chosen. How long does it take for Leeds Building Society to send the offer to the lawyer?
Some lenders take longer than others. Have Leeds Building Society conducted the valuation? Have you advised Leeds Building Society as to your lawyers' details and checked that your lawyers are on the Leeds Building Society conveyancing panel? Sometimes it can take as long as six weeks for a mortgage offer to be issued.
I have been told that property searches are a common reason for hinderance in Arnside conveyancing transactions. Is this right?
The Council of Property Search Organisations (CoPSO) published conclusions of research by MoveWithUs that conveyancing searches do not feature within the common causes of delays in the conveyancing process. Local searches are unlikely to be the root cause of slowing down conveyancing in Arnside.
My wife and I purchased a semi-detached Edwardian house in Arnside. Conveyancing solicitor represented me and National Westminster Bank. I did a free Land Registry search last week and I saw a couple of entries: one for freehold, another for leasehold with the exact same property. If a house is not a freehold shouldn't I have been informed?
You should review the Freehold register you have again and check the Charges Register for mention of a lease. The best way to be sure that you are also the registered owner of the leasehold and freehold title as well is to check (£3). It is not completely unheard of in Arnside and other locations in the country and poses no real issues for owners other than when they remortgage they have to account for both freehold and leasehold interests when dealing with mortgage companies. You can also check the situation with your conveyancing lawyer who conducted the purchase.
In surfing the web for the words cheap conveyancing in Arnside it brings up many conveyancerslocally. How do I determine which is the right conveyancing solicitor for my move?
The best way of seeking a suitable conveyancer is through a personal recommendation, so enquire of friends and family who have purchased a property in Arnside or a respected estate agent or financial adviser. Charges for conveyancing in Arnside differ, so it's advisable to obtain a minimum of three quotes from different solicitors. Make sure that you clarify that the fees are fixed.
My wife and I purchased a leasehold house in Arnside. Conveyancing and Skipton Building Society mortgage are in place. I have received a letter from someone claiming to own the reversionary interest in the property. Attached was a demand for arrears of ground rent dating back to 1991. The conveyancing solicitor in Arnside who acted for me is not around. What should I do?
The first thing you should do is contact HMLR to be sure that the individual claiming to own the freehold is indeed the registered owner of the freehold reversion. It is not necessary to instruct a Arnside conveyancing firm to do this as it can be done on-line for less than a fiver. Rest assured that regardless, 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 2 bed flat in Arnside, conveyancing having been completed in 2000. Can you work out an approximate cost of a lease extension? Similar flats in Arnside with over 90 years remaining are worth £202,000. The ground rent is £60 levied per year. The lease comes to an end on 21st October 2082
With only 57 years left to run we estimate the premium for your lease extension to span between £28,500 and £33,000 plus professional fees.
The figure above a general guide to costs for extending a lease, but we cannot give you a more accurate figure in the absence of detailed investigations. Do not use the figures in tribunal or court proceedings. There may be additional concerns that need to be taken into account and you obviously should be as accurate as possible in your negotiations. Please do not move forward based on this information without first getting professional advice.
Myself and my husband have just had an offer agreed on a property and had an appointment on Monday with Leeds Building Society for the mortgage. They have informed me that when it comes to choosing a lawyer that if they are not on their approved panel of solicitors then we will be subject to an an additional fee of £250+. This is is due to the fact that they will then have to appoint a conveyancer to act for them in addition to the one we choose to act for ourselves and we are liable for their fees. I have asked Leeds Building Society to send me with a list so I can obtain estimates only from their approved solicitors but was told that I need to check with each individual solicitor to see if they are on the panel. Is there a simple way of finding out who is on a lender panel?
Ask Leeds Building Society what their panel criteria is for a conveyancer.Then ask the property lawyer of your choice whether they fit that criteria and have they acted on mortgages for Leeds Building Society previously. Where the answer to those is yes, then just double check with Leeds Building Society. Another option is to make use of our search facility and we may be able to find you a conveyancing practitioner in Arnside on the approved list for Leeds Building Society.