Much to our surprise we have been told by our mortgage adviser that my Clifton the law firm I have appointed is not on the lender Conveyancing panel. What can I do to be certain if this is indeed the case?
The sensible course of action for you to take is to call your Clifton conveyancer. You lawyer should notify you of the situation. Where they are not on the panel they could put your in touch with solicitors on the conveyancing panel for your bank.
We are expecting a mortgage offer soon. The lender mentioned the mortgage came with free conveyancing. Does this mean I have to instruct their panel lawyer as I would prefer to instruct a local conveyancing solicitor in Clifton?
You should check but the chances are that appoint one of their panel lawyers if you take up the "fee-free" deal. Contact the bank and ask if they offer you a monetary alternative. In the past a few mortgage companies offered a £250 cashback as a further option in which case that money can go towards your preferred conveyancing solicitor in Clifton.
My bid for a property was accepted at auction in Clifton. Conveyancing is required. What are my next steps?
Given that you are now to all intents and purposes signed on the dotted line you must instruct a conveyancing practitioner as a matter of priority as you now have a tight a fixed date to complete the deal. All auction property will ordinarily have an associated auction set of papers. This should include most,if not all of the documents that your solicitor will need. Where you are dealing with leasehold premises the auction papers may provide a copy of the lease, management information and a sellers leasehold information form and other conveyancing paperwork specific to leasehold premises. You should hand this to the conveyancer working for you at the earliest opportunity. You also need to ensure that you have funds organised to complete the transaction on the set completion date.
A colleague informed me that in buying a property in Clifton there could be various restrictions limiting what one can do in terms of external alterations to the property. Is this right?
We are aware of a number of properties in Clifton which have some sort of restriction or requirement of consent to carry out external alterations. Part of the conveyancing in Clifton should determine what restrictions are applicable and advising you as part of a ROT that should be sent to you.
I currently have a mortgage with Yorkshire BS for my property in Clifton. Conveyancing was finalised months ago. If I am intending to rent out my property and do not currently have a buy-to-let mortgage do I need to remortgage to a buy-to-let mortgage or inform Yorkshire BS?
Your original mortgage agreement with Yorkshire BS will provide that you need their approval in advance of renting your property as this is likely to be a breach of Yorkshire BS’s mortgage conditions. It may be that Yorkshire BS will permit you to let out your former home without needing to switch to a buy-to-let mortgage but some lenders will add a surcharge to your mortgage rate to reflect the higher risk. You should contact Yorkshire BS directly. You need not do this via a Yorkshire BS conveyancing panel firm.
It has been three months since my purchase conveyancing in Clifton concluded. I have checked the Land Registry site which shows that I paid £150,000 when infact I paid £160,000. Why the discrepancy?
The price paid figure is taken from the application to register the purchase. It is the figure included in the Transfer (the legal deed which transfers the asset from one person to the other) and referred to as the 'consideration' or purchase price. You can report an error in the price paid figure using the LR online form. In most cases errors result from typos so at first glance the figure. Do report it so they can double check and advise.
I need to retain a conveyancing solicitor for sale conveyancing in Clifton. I happened to land on a site which looks to be the perfect solution If there is a chance to get all formalities completed via email that would be preferable. Should I be concerned? What should out be looking out for?
As usual with these online conveyancers you need to read ALL the small print - did you notice the extra charge for dealing with the mortgage?
I am attracted to a two apartments in Clifton both have in the region of fifty years remaining on the lease term. Do I need to be concerned?
A lease is a legal document that entitles you to use the property for a period of time. As a lease shortens the marketability of the lease reduces and results in it becoming more expensive to acquire a lease extension. For this reason it is generally wise to extend the lease term. Sometimes it is difficult to sell a property with a short lease because mortgage companies less inclined to grant a loan on properties of this type. Lease enfranchisement can be a protracted process. We recommend you seek professional help from a conveyancer and surveyor with experience in this arena.
I bought a 1st floor flat in Clifton, conveyancing formalities finalised half a dozen years ago. Can you work out an approximate cost of a lease extension? Similar flats in Clifton with a long lease are worth £190,000. The ground rent is £65 invoiced every year. The lease runs out on 21st October 2087
With 61 years left to run the likely cost is going to be between £19,000 and £22,000 plus plus your own and the landlord's "reasonable" professional fees.
The figure above a general guide to costs for renewing a lease, but we are not able to provide the actual costs without more comprehensive investigations. You should not use the figures in a Notice of Claim or as an informal offer. There are no doubt additional issues that need to be taken into account and clearly you want to be as accurate as possible in your negotiations. You should not take any other action based on this information before getting professional advice.