My wife and I are about to exchange buying a house in Birstall but as a result of wreckage from some water damage at the property I have managed to agree recompense from the seller in the sum of £3k taking the form of a reduction in the price. This was going to be dealt with as part of the conveyancing process but Leeds Building Society will not permit this. Should they have been informed?
Any conveyancing practitioner being on the Leeds Building Society approved list is obliged to advise Leeds Building Society of any changes to the sale price. If you prohibit your lawyer to report the price change to Leeds Building Society then they would have to discontinue acting for you. In addition, Leeds Building Society and you would have to appoint a new conveyancing practitioner for your conveyancing in Birstall.
Can you point me to a directory of Nottingham panel solicitors in Birstall on the UK Finance Lenders’ Handbook Website?
No. There is no such directory service on the Council of Mortgage Lenders or Building Society Association sites. A small selection of lenders make their panel listings viewable online. Where you are in need of a Birstall solicitor on the Nottingham please make the most of our facility.
My wife and I have arranged a further advance on our mortgage from Kent Reliance as we intend to conduct alterations to our home in Birstall. Do we need to appoint a bricks and mortar Birstall solicitor on the Kent Reliance conveyancing panel to handle the legals?
Kent Reliance would not normally instruct a member of their conveyancing panel to deal with the formalities. If they do require any legal work then you would need to ensure that such a lawyer was on the Kent Reliance list.
I can not fathom if my mortgage offer requires a lease extension. I have called my Birstall building society branch on a couple of occasions and was told it does not impact the mortgage offer and they would lend. My Birstall conveyancing solicitor - who is on the bank conveyancing panel- telephoned to say that they refuse to lend based on their published requirements. I simply don't know who is right.
Your property lawyer has to comply with the Council of Mortgage Lenders’ Handbook section two provisions for your 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.
My colleague advised me that where I am purchasing in Birstall I should ask my conveyancer to carry out a Neighbourhood, Planning and Local Amenity Search. Can you explain what the purpose of this search is?
A search of this type is sometimes included in the estimate for your Birstall conveyancing searches. It is not a small document of about 40 pages, listing and detailing important information about Birstall around the property and the people living there. It includes an Aerial Photograph, Planning Applications, Land Use, Mobile Phone Masts, Rights of Way, the local Housing Market, Council Tax Banding, the demographics of People living in the area, the dominant type of Housing, the Average Property Price, Crime details, Birstall Education with maps and statistics, Local Amenities and other useful data regarding Birstall.
Due to the input of my in-laws I had a survey completed on a property in Birstall ahead of retaining solicitors. I have been advised that there is a flying freehold aspect to the property. Our surveyor advised that some banks tend refuse to grant a mortgage on a flying freehold house.
It depends who your proposed lender is. HSBC has different instructions for example to Birmingham Midshires. Should you wish to call us we can check via the relevant mortgage company. If you lender is happy to lend one our lawyers can assist as they are used to dealing with flying freeholds in Birstall. Conveyancing will be smoother if you use a solicitor in Birstall especially if they regularly deal with such properties in Birstall.
How easy is it to use the search facility to find a conveyancing solicitor in Birstall on the authorised to act for my mortgage?
Step one is to choose a mortgage company such as National Westminster Bank, Leeds Building Society or Platform Home Loans Ltd then choose your location a common one being Birstall. Conveyancing organisations in Birstall and beyond should be shown.
I've recently bought a leasehold flat in Birstall. Am I liable to pay service charges relating to a period prior to completion of my purchase?
In a situation where the service charge has already been demanded from the previous lessee and they have not paid you would not usually be personally liable for the arrears. However, your landlord may still be able to take action to forfeit the lease. A critical element of leasehold conveyancing for your conveyancer to be sure to have an up to date clear service charge receipt before completion of your purchase. If you have a mortgage this is likely to be a requirement of your lender.
If you purchase part way through an accounting year you may be liable for charges not yet demanded even if they relate to a period prior to your purchase. In such circumstances your conveyancer would normally arrange for the seller to set aside some money to cover their part of the period (usually called a service charge retention).
I invested in buying a 1st floor flat in Birstall, conveyancing formalities finalised 4 years ago. Can you let me have an estimated range of the fair premium for a lease extension? Equivalent properties in Birstall with a long lease are worth £191,000. The ground rent is £55 yearly. The lease ceases on 21st October 2079
With just 54 years remaining on your lease we estimate the price of your lease extension to range between £31,400 and £36,200 plus legals.
The figure that we have given is a general guide to costs for extending a lease, but we are not able to provide the actual costs without more detailed investigations. You should not use this information in tribunal or court proceedings. There may be other concerns that need to be taken into account and clearly you want to be as accurate as possible in your negotiations. Please do not move forward based on this information before seeking the advice of a professional.