I can't travel far from Horsforth. What is the rationale as to why all Horsforth conveyancers are not on all lender panels?
Mortgage companies highlight the fact that solicitor-led fraud is considered to be responsible for millions of pounds of fraud annually.The removal of law firms from lender panels started with the rise in mortgage fraud, which prompted a thematic review by the FSA in 2011. Its outcome included recommendations for lenders to review their conveyancing panels, which triggered a major policy change in the sector. It led to lenders culling a number of firms from their books of approved conveyancing practitioners .
We see that you have a post code search directory identifying solicitors on the RBS conveyancing panel. Do firms pay you a referral fee if I appoint them for our own conveyancing in Horsforth?
We are a listing service only for law firms wishing to communicate if they are on the RBS conveyancing panel or other lender panels. We do not charge referral fees to any conveyancer that you subsequently appoint for your conveyancing in Horsforth.
My wife and I are buying a house in Horsforth. It might be a silly question but how we can trust a lawyer? At some point we will need to deposit money into their account. What protection do we have from them run away with our deposit?
Be assured that all money in a Solicitors client account is 100% safe, and even if your Solicitor ran off with it, the Law Society would reimburse you fully.
There are a variety of conveyancing solicitors in Horsforth but how do I know who's good?
We would encourage you not to go for the lowest Horsforth conveyancing fees. You really do get what you’re paying for when it comes to conveyancing solicitors. A cheap quote may mean that the conveyancing solicitor is handling a lot of jobs at one time and you won’t get the quality of service and the attention that you need. It is, however, wise to use a conveyancer who has a fixed fee on a no sale, no fee basis. This way, you know exactly what you’ll have to pay in ahead of the deal.
I currently have a mortgage with Leeds Building Society for my property in Horsforth. Conveyancing was finalised months ago. Should I wish to rent out the flat and do not currently have a buy-to-let mortgage do I need to remortgage to a BTL mortgage or inform Leeds Building Society?
You must advise Leeds Building Society in advance of renting your property as this is likely to be a breach of Leeds Building Society’s mortgage conditions. In many cases banks or building societies 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 Leeds Building Society directly. It should not be necessary to do this via a Leeds Building Society conveyancing panel solicitor.
It has been four months since my purchase conveyancing in Horsforth concluded. I have checked the Land Registry site which shows that I paid £175,000 when infact I paid £170,000. 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 property 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.
Yesterday I discovered that there is a flying freehold element on a house I put an offer in a fortnight ago in what should have been a quick, chain free conveyancing. Horsforth is where the house is located. Can you offer any opinion?
Flying freeholds in Horsforth are rare but are more likely to exist in relation to terraced houses. Even though you don't necessarily need a conveyancing solicitor in Horsforth you must be sure that your lawyer goes through the deeds thoroughly. Your mortgage company may require your conveyancing solicitor to take out an indemnity policy. Some of the more diligent conveyancing solicitors in Horsforth may decide that this is not enough and that the deeds be re-written to give you the most up to date legal protection. If so, the next door neighbour also had to sign up to the revised deeds.It is possible that your lender will not accept the situation so the sooner you find out the better. You should also check with your insurance broker as to whether they will insure a flying freehold residence.
I've recently bought a leasehold house in Horsforth. Am I liable to pay service charges for periods before completion of my purchase?
In a situation where the service charge has already been demanded from the previous owner and they have not paid you would not usually be personally liable for the arrears. Strange as it may seem, 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 own a 2 bed flat in Horsforth, conveyancing was carried out in 1997. Can you let me have an estimate of the premium that my landlord can legally expect in return for granting a renewal of my lease? Equivalent flats in Horsforth with over 90 years remaining are worth £216,000. The average or mid-range amount of ground rent is £50 levied per year. The lease finishes on 21st October 2094
With only 69 years unexpired we estimate the price of your lease extension to be between £9,500 and £11,000 as well as costs.
The suggested premium range that we have given is a general guide to costs for renewing a lease, but we are not able to provide a more accurate figure in the absence of comprehensive investigations. Do not use the figures in a Notice of Claim or as an informal offer. There may be additional issues that need to be considered and you obviously should be as accurate as possible in your negotiations. You should not move forward placing reliance on this information before getting professional advice.