We are about to complete on the purchase of a property in Guisborough but as a result of damage from some water damage at the property I have was able negotiate reparation from the seller of six thousand pounds in the form of a deduction in the price. This was going to be dealt with as part of amending the contract yet Clydesdale are not allowing this. Should they have been notified?
Your solicitor that is on the Clydesdale conveyancing panel is obliged to advise Clydesdale of any amendments to the sale price. If you were to refuse your property lawyer to report the reduction to Clydesdale then they would have to discontinue acting for you. In addition, Clydesdale and you would have to appoint a new property lawyer for your conveyancing in Guisborough.
In what way does my ID and proof of funds have anything to do with my conveyancing in Guisborough? What am I being asked for?
It is indeed that case that these requests have nothing to do with conveyancing in Guisborough. However these days you can not complete any conveyancing deal if you have not handing over proof of your identity. Ordinarily this takes the form of a either your passport or driving licence and a bank statement. Please note that if you are providing your driving licence as proof of identification it must be both the paper element as well as the photo card part, one is not acceptable in the absence of the other.
Proof of your source of money is mandated under Money Laundering Regulations. You should not be offended when you are asked to produce this as your conveyancing solicitor will need to have this information on record. Your Guisborough conveyancing solicitor will require evidence of proof of funds before they are able to accept any funds from you into their client account and they may also ask additional queries regarding the origin of funds.
We are expecting a mortgage offer soon. The lender mentioned the mortgage came with free conveyancing. Does this mean I have to appoint their panel lawyer as I would prefer to appoint a Guisborough based conveyancing firm?
You should check but the the likelihood is that appoint one of their panel lawyers if you want the "fee-free" incentive. Contact the lender to determine 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 you could put that amount towards your preferred conveyancing solicitor near Guisborough.
Forgive me if this question is silly but I am wet behind the ears as FTB of a garden flat in Guisborough. Do I collect the keys to the house on the completion date from my conveyancer? If this is the case, I will instruct a local conveyancing solicitor in Guisborough?
There is no need to visit the lawyers office on the day of completion. Conveyancing lawyers for you will electronically transfer the completion advance to the vendor’s solicitors, and shortly after the monies have arrived, you should be invited to collect the keys from the Estate Agents and move into your new home. This tends to happen early afternoon.
I have paid off my mortgage with Principality. I assume I don't need a Guisborough lawyer on the Principality panel to remove the mortgage at the Land Registry. Please confirm.
If you have finished paying off your Principality mortgage, they may send you evidence showing that you have paid it off. Alternatively they may notify the Land Registry directly. The Land Registry need to see this evidence before they will remove the Principality mortgage from the register. Principality, and any evidence they send you, will determine the action you need to take. In cases where no conveyancer is acting for you and you have paid off your mortgage:
- but are not moving to another property
- where Principality has sent the Land Registry the discharge electronically, and
- Principality has instructed the Land Registry to do so
Our offer on a house in Guisborough has been accepted, but there is a chain. The vendors have offered on somewhere, however it’s not yet agreed to, and have viewings of other flats booked. I have selected a bricks and mortar conveyancing solicitor in Guisborough. What should be my next step? When do I get the mortgage application with Santander going?
It is understandable to have concerns where there is a chain as you are unlikely to want to be too out of pocket prematurely (home loan application is in the region of £1k, then valuation, Guisborough conveyancing search charges, etc). The first course of action is to ensure that your lawyer is on the Santander conveyancing panel. Regarding the subsequent stages this very much depends on the circumstances of your transaction, motivation for the property and on the state of the market. In a hot market the majority of buyers will apply for a home loan with Santander and pay for the valuation and only if it was satisfactory would they pay their lawyer to press on with searches.
My wife and I are planning on selling our house in Guisborough and according to the buyers it appears that there is a risk of it being constructed land that was not decontaminated. A high street Guisborough lawyer would know this is not the case. For the life of me I don't know why the buyers used an internet conveyancing practice as opposed to a conveyancing solicitor in Guisborough. We have lived in Guisborough for many years we know of no issue. Is it a good idea to contact our local Authority to obtain clarification that there is no issue.
It would appear that you have a conveyancing solicitor currently acting for you. Are they able to advise? You should enquire of 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 ailment)
I work for a reputable estate agency in Guisborough where we have witnessed a few leasehold sales derailed as a result of short leases. I have received contradictory information from local Guisborough conveyancing solicitors. Can you confirm whether the owner of a flat can instigate the lease extension formalities for the purchaser on completion of the sale?
As long as the seller has been the owner for at least 2 years it is possible, to serve a Section 42 notice to start the lease extension process and assign the benefit of the notice to the purchaser. This means that the proposed purchaser can avoid having to wait 2 years to extend their lease. Both sets of lawyers will agree to form of assignment. The assignment needs to be completed prior to, or simultaneously with completion of the sale.
An alternative approach is to agree the lease extension with the freeholder either before or after the sale. If you are informally negotiating there are no rules and so you cannot insist on the landlord agreeing to grant an extension or transferring the benefit of an agreement to the buyer.
I am the registered owner of a split level flat in Guisborough, conveyancing formalities finalised May 1997. Can you give me give me an indication of the likely cost of a lease extension? Equivalent properties in Guisborough with an extended lease are worth £195,000. The ground rent is £45 invoiced every year. The lease ends on 21st October 2087
You have 63 years unexpired the likely cost is going to range between £16,200 and £18,600 as well as plus your own and the landlord's "reasonable" professional fees.
The suggested premium range that we have given is a general guide to costs for extending a lease, but we are not able to advice on the actual costs in the absence of detailed investigations. Do not use the figures in tribunal or court proceedings. There are no doubt other concerns that need to be considered and you obviously want to be as accurate as possible in your negotiations. Please do not take any other action based on this information before getting professional advice.