My fiance and I are planning to purchase a flat in Horbury and are in fact using a Horbury conveyancing practice. Within the past 48 hours our solicitor has sent a preliminary report and documents to look through with the expectation that exchange is imminent. Chelsea Building Society have this afternoon contacted us to inform me that they have now hit a problem as our Horbury conveyancer is not on their approved list of lawyers. Is this a problem?
If you are buying a property requiring a mortgage it is normal for the purchasers' lawyers to also represent the mortgage company. In order to act for a bank or building society a law firm has to be on that lender's conveyancing panel. An application has to be made by the law firm to the lender to become a member of the lender's panel and there are increasingly strict criteria which the firm has to satisfy and indeed some lenders now require their panel members to be part of the Law Society’s Conveyancing Accreditation Scheme. Your solicitor should contact your mortgage company and see if they can apply for membership of their conveyancing panel, but if that is not viable they will instruct their own solicitors to act. You are not legally obliged to appoint a law firm on the bank's conveyancing panel and you may continue to use your own Horbury solicitors, in which case your legal fees may increase, and it will likely delay the transaction as you have another set of people involved.
My aunt passed away 10 months ago and as sole heir and executor I was left the property in Horbury. The house had a small mortgage remaining of approximately £5k. I want to transfer the title deeds into my name whilst I re-mortgage to RBS, pay off the mortgage. Is this allowed?
Where you plan to re-mortgage then RBS will require that you use a conveyancer on the RBS conveyancing panel. Here is link to the Land Registry online guidance around what to do when a property owner dies. This will help you to understand the registration process behind changing the details re the registered title. in your case it would appear that you are effectively purchasing the property from the estate. Your RBS conveyancing panel solicitor pays the new mortgage money into the estate, the estate pays off the old mortgage, the charge is released and you become the owner and the RBS mortgage is registered as a charge at the Land Registry.
Just had an offer accepted on a new build apartment in Horbury. Conveyancing is a frightening process at the best of times but I have never purchased a new build flat before. What sort of enquires would be asked in new build conveyancing.
Set out below is a sample of a selection of leasehold new build questions that you should expect your new-build leasehold conveyancing in Horbury
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Forfeiture - bankruptcy or liquidation must not apply under this provision. Please supply a car parking plan. The Vendor must covenant to keep unoccupied units in good repair until long leases are granted therefore. Where service of notices and proceedings can be at the property demised please confirm that this can be amended to include simultaneous services at the Lessees’ solicitors’ offices where the Lessee from time to time is not resident in the UK - such solicitors may be varied by notice in writing to the Landlord from time to time but otherwise will be as previously specified. The Landlord must covenant to assume the management if the Management Company goes into liquidation or otherwise defaults in running the management scheme.
I decided to have a survey done on a property in Horbury before instructing lawyers. I have been told that there is a flying freehold element to the house. Our surveyor has said that some banks may not issue a loan on a flying freehold home.
It varies from the lender to lender. Bank of Scotland has different instructions from Nationwide. If you contact us we can investigate further via the appropriate mortgage company. If you lender is happy to lend one our lawyers can help as they are used to dealing with flying freeholds in Horbury. Conveyancing will be smoother if you use a solicitor in Horbury especially if they are accustomed to such properties in Horbury.
My husband and I are FTB’s - had an offer accepted, yet the estate agent informed us that the owners will only move forward if we use their chosen solicitors as they need an ‘expedited deal’. My instinct tells me that we should use a local conveyancer accustomed to conveyancing in Horbury
It is highly unlikely the owners are driving this. Should the owner desire ‘a quick sale', alienating a serious buyer is counter productive. Contact the vendors directly and explain that (a)you are keen to buy (b)you are excited to move forward, with finances arranged © you have nothing to sell (d) you wish to move quickly (e)however you are going to appoint your own,trusted Horbury conveyancing firm - rather thanthose that will provide the estate agent a commission or meet his conveyancing thresholds pre-set by HQ.
Threeweeks into purchasing a residence in Horbury. Conveyancing lawyer has phoned to say the title is "Leasehold". Does this make a difference on the marketability of the house?
Horbury conveyancing does not ordinarily involve leasehold houses. The main factor here is the remaining lease term and the ground rent. If it's 999 years with a peppercorn rent, it's essentially freehold, so it’s unlikely to impact the marketability too much.
At the other extreme, if it's, say, fifty five years it will have a material impact on the value, and probably wouldn't be acceptable to the bank. The length of lease and ground rent will be set out in the lease which should be made available to your lawyer.