I am hoping to receive a mortgage with Lloyds. My intention is to instruct a Licensed Conveyancer in Barnsley. Does the Lloyds Conveyancing panel exclude Licensed Conveyancers?
The Lloyds approved solicitor list is, like many other lenders, represented by the CML or Building Society Association, open to Licensed Conveyancers regulated by the Council of Licensed Conveyancers.
The Barnsley conveyancing firm handling our Barnsley conveyancing has identified a difference when comparing the information in the valuation survey and what is revealed within the legal papers for the property. My solicitor has advised that he must ensure that the lender is OK with this discrepancy and is still content to lend. Is my conveyancer’s approach right?
Your solicitor must comply with the UK Finance Lenders’ Handbook conditions which do require that your lawyer disclose any incorrect assumptions in the lender’s valuation report and the legal papers. Should you refuse to allow your lawyer to make the appropriate notification then your lawyer will have no choice but to discontinue acting for you.
My partner and I are planning on selling our house in Barnsley and the buyers lawyers are claiming that there is a possibility that the property was built on contaminated land. Any high street Barnsley lawyer would know that there is no such problem. For the life of me I don't know why the buyers instructed a nationwide conveyancing practice rather than a conveyancing solicitor in Barnsley. Having lived in Barnsley for three years we know that this is a non issue. Do we get in touch with our local Authority to obtain confirmation that there is no issue.
It would appear that you have a conveyancing firm currently acting for you. What do they say? You need to check with your lawyer before you do anything. It is very possible that once the local authority has been informed of a potential issue it cannot be insured against (a bit like being diagnosed with a serious illness and then taking out life insurance to cover that same sickness)
I am buying a new build apartment in Barnsley. Conveyancing is necessary evil at the best of times but I have never purchased a new build flat before. Can you give me some examples of some of the questions asked in new build conveyancing.
Here is a sample of a few leasehold new build questions that you can expect your new-build leasehold conveyancing in Barnsley
-
Has the Lease plan been approved by the Land Registry and if not when will they be lodged for this purpose? Where there is an Undertaking being granted there is the risk of forfeiture of the Headlease subject to relief if one or more of the Underlessees are willing to accept the original Head Lessee’s obligations as otherwise relief will be denied to the Underlessees. The only alternatives are the Head Lessor agreeing not to forfeit the Headlease or the Head Lessee guaranteeing to the Underlessees that it will not be in breach of the Headlease. Forfeiture - bankruptcy or liquidation must not apply under this provision. Please supply a car parking plan.
Over the last few months I have been searching for a ground for flat up to £195,000 and identified one close by in Barnsley I like with amenity areas and station in the vicinity, however it's only got 61 years on the lease. There is not much else in Barnsley in this price bracket, so just wondered if I would be making a grave error buying a lease with such few years left?
If you require a mortgage the shortness of the lease may be an issue. Reduce the offer by the amount the lease extension will cost if it has not already been discounted. If the existing owner has owned the property for a minimum of 2 years you could request that they commence the lease extension formalities and then assign it to you. You can add 90 years to the current lease term with a zero ground rent applied. You should consult your conveyancing lawyer about this matter.
Back In 2008, I bought a leasehold flat in Barnsley. Conveyancing and National Westminster Bank mortgage are in place. I have received a letter from someone saying they have taken over the reversionary interest in the property. It included a demand for arrears of ground rent dating back to 1998. The conveyancing solicitor in Barnsley who previously acted has long since retired. Do I pay?
First contact HMLR to be sure that the individual claiming to own the freehold is in fact the new freeholder. You do not need to incur the fees of a Barnsley conveyancing firm to do this as you can do this on the Land Registry website for a few pound. 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 split level flat in Barnsley, conveyancing formalities finalised 10 years ago. Can you let me have an estimated range of the fair premium for a lease extension? Comparable properties in Barnsley with over 90 years remaining are worth £211,000. The average or mid-range amount of ground rent is £50 invoiced every year. The lease ends on 21st October 2093
With just 68 years remaining on your lease we estimate the premium for your lease extension to be between £9,500 and £11,000 plus professional fees.
The suggested premium range above a general guide to costs for renewing a lease, but we cannot give you the actual costs in the absence of comprehensive due diligence. Do not use this information in a Notice of Claim or as an informal offer. There may be additional issues that need to be considered and clearly you should be as accurate as possible in your negotiations. Neither should you take any other action placing reliance on this information before seeking the advice of a professional.