In what way does my ID and proof of funds have anything to do with my conveyancing in Driffield? What am I being asked for?
Anti-terror and anti-money-laundering regulations require solicitors and licensed conveyancers to check the identity of the potential client they are dealing with before they can accept their conveyancing retainer. The Terms of Engagement that you need to sign should confirm this. Your lawyer also has obligations to obtain certain documents in accordance with the CML Lenders Handbook requirements last updated on 1st December 2014. Where you refuse to supply ID verification documents, your solicitor will not be able to take you on as a client.
Completion of my remortgage has taken place for my property in Driffield. Conveyancing was satisfactory but I feel I should register my dissatisfaction about the lender. How does one go about formally complaining?
Most lenders have complaints procedures. Your first point of contact should be one of the lender’s branches or the Customer Care Team at head office. In most cases complaints to a lender are sorted out very quickly. If you feel the matter is not resolved you can write to Financial Ombudsman Service who will take matters further.
Virgin Money have agreed my home loan in principle, my offer on a apartment in Driffield has been accepted, what are the next steps?
Your estate agent will want to be advised as to your lawyer's details (ensure that the solicitors are on the lender’s approved list). Telephone Virgin Money or your financial adviser and finish off any appropriate forms. Virgin Money will instruct a valuer who will get in contact with the estate agent or seller to schedule an appointment. Once conducted (assuming no problems) it takes approximately a week for the mortgage offer to be issued. Virgin Money will send the offer to you and your property lawyers. The legal work will then take it’s course according the nature and complexity of the conveyancing in Driffield.
At last I have had an offer on a flat in Driffield agreed to, but there is a chain. The owners have offered on a flat, but it’s not yet tied up, and have viewings of other flats in the pipeline. I have selected a high street conveyancing solicitor in Driffield. What do I do now? When do I get the mortgage application with Co-operative going?
It is normal to have apprehensions where there is a chain as you are unlikely to want to be too out of pocket too early (home loan application is in the region of £1k, then survey, Driffield conveyancing search fees, etc). The first course of action is to ensure that your conveyancer is on the Co-operative conveyancing panel. As to the next steps this very much depends on the circumstances of your case, attraction to the property and on the state of the market. In a buoyant market many buyers would apply for the mortgage with Co-operative and arrange for the valuation and only if it comes back ok would they ask their conveyancer to press on with the conveyancing in Driffield.
Are there restrictive covenants that are commonly identified during conveyancing in Driffield?
Restrictive covenants can be picked up when reviewing land registry title as part of the process of conveyancing in Driffield. An 1874 stipulation that was seen was ‘The houses to be erected on the estate are each to be of a uniform elevation in accordance with the drawings to be prepared or approved by the vendor’s surveyor…’
How does conveyancing in Driffield differ for newly converted properties?
Most buyers of new build premises in Driffield approach us having been asked by the housebuilder to exchange contracts and commit to the purchase even before the property is constructed. This is because developers in Driffield usually acquire the site, plan the estate and want to get the plots sold off as they are building the properties. Buyers, therefore, will have to exchange contracts without actually seeing the house they are buying. To reduce the chances of losing the property, buyers should instruct conveyancing solicitors as soon as the property is reserved and mortgage applications should be submitted quickly. Due to the fact that it could be several months and even years between exchange of contracts and completion, the mortgage offer may need to be extended. It would be wise to use a lawyer who specialises in new build conveyancing especially if they are used to new build conveyancing in Driffield or who has acted in the same development.
Do you have any advice for leasehold conveyancing in Driffield from the point of view of expediting the sale process?
- A significant proportion of the delay in leasehold conveyancing in Driffield can be avoided where you get in touch lawyers as soon as your agents start advertising the property and request that they start to put together the leasehold documentation needed by the purchasers’ representatives. If you have carried out any alterations to the premises would they have required Landlord’s approval? Have you, for example installed wooden flooring? Driffield leases often stipulate that internal structural alterations or laying down wooden flooring require a licence issued by the Landlord consenting to such changes. Should you dont have the consents in place you should not contact the landlord without checking with your solicitor first. If you have had any disputes with your freeholder or managing agents it is very important that these are settled before the property is marketed. The buyers and their solicitors will be reluctant to purchase a flat where there is a current dispute. You will have to accept that you will have to discharge any arrears of service charge or resolve the dispute prior to the buyers completing the purchase. It is therefore preferable to have any dispute settled ahead of the contract papers being issued to the buyers’ solicitors. You will still have to reveal details of the dispute to the buyers, but it is better to present the dispute as over as opposed to unresolved. A minority of Driffield leases require Landlord’s consent to the sale and approval of the buyers. If this is the case, it would be prudent to notify your estate agents to make sure that the purchasers obtain financial (bank) and professional references. The bank reference should make it clear that the buyer is able to meet the annual service charge and the actual amount of the service charge should be quoted in the bank’s letter. You will therefore need to provide your estate agents with the service charge figures so that they can pass this information on to the purchasers or their solicitors. You believe that you know the number of years remaining on your lease but it would be wise to verify this via your conveyancers. A buyer’s conveyancer will be unlikely to recommend their client to proceed with the purchase of a leasehold property the remaining number of years is under 75 years. It is therefore essential at an early stage that you consider whether the lease requires a lease extension. If it does, contact your solicitors before you put your premises on the market for sale.
Driffield Conveyancing for Leasehold Flats - A selection of Questions you should ask before buying
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Are there any major works on the horizon that will add a premium to the maintenance costs? What is the maintenance charge and ground rent on the flat? The best form of lease structure is if the freehold reversion is owned by the leaseholders. In this scenario the lessees have control and although a managing agent is frequently retained where it is larger than a house conversion, the managing agent acts for the leaseholders themselves.
I've found a house that appears to meet my requirements, at a great figure which is making it more attractive. I have since discovered that the title is leasehold as opposed to freehold. I am assuming that there are issues buying a house with a leasehold title in Driffield. Conveyancing advisers have are about to be instructed. Will they explain the issues?
Most houses in Driffield are freehold rather than leasehold. This is one of the situations where having a local conveyancer who is familiar with the area can assist with the conveyancing process. It is clear that you are purchasing in Driffield so you should seriously consider looking for a Driffield conveyancing solicitor and check that they are used to dealing with leasehold houses. First you will need to check the unexpired lease term. As a tenant you will not be entirely free to do whatever you want to the property. The lease will likely included provisions for example obtaining the landlord’spermission to carry out changes to the property. It may be necessary to pay a contribution towards the upkeep of the estate where the house is part of an estate. Your lawyer should advise you fully on all the issues.