I have given 8 weeks notice to my current landlord and must leave my let out flat in Ilkley by the end of next month. Conveyancing on my purchase is underway. Is it possible to complete in a couple of weeks as don't want to have to find short term accommodation?
It is unwise to serve notice on a rental unless your lawyer suggests that you should. If you have not already done so, speak to your lawyer and request that they chase the other lawyers, try to an acceptable time-line that all parties will look to achieve
three months have gone by since my purchase conveyancing in Ilkley took place. 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 premises 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 am looking for a flat up to £305k and identified one near me in Ilkley I like with amenity areas and transport links nearby, however it's only got 52 remaining years left on the lease. There is not much else in Ilkley in this price bracket, so just wondered if I would be making a grave error buying a lease with such few years left?
Should you require a home loan that many years will be a potential deal breaker. Reduce the offer by the anticipated lease extension will cost if it has not already been discounted. If the existing owner has owned the property for at least twenty four months you can ask them to commence the lease extension formalities and pass it to you. You can add 90 years to the existing lease with a zero ground rent applied. You should consult your conveyancing solicitor concerning this matter.
I need to retain a conveyancing solicitor for residential conveyancing in Ilkley. I happened to discover a web site which looks to be the ideal solution If there is a chance to get all the legals completed via web that would be ideal. Do I need to be wary? 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?
Last October I purchased a leasehold house in Ilkley. Am I liable to pay service charges relating to a period prior to completion of my purchase?
In a situation where the service charge has already been demanded from the previous lessee 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 ensure 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 ground floor flat in Ilkley, conveyancing formalities finalised 10 years ago. 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? Corresponding flats in Ilkley with a long lease are worth £222,000. The ground rent is £50 levied per year. The lease terminates on 21st October 2095
With only 70 years left to run we estimate the price of your lease extension to range between £9,500 and £11,000 as well as professional fees.
The figure that we have given is a general guide to costs for renewing a lease, but we are not able to advice on a more accurate figure without more comprehensive investigations. You should not use this information in a Notice of Claim or as an informal offer. There may be additional issues that need to be considered and clearly you should be as accurate as possible in your negotiations. You should not move forward placing reliance on this information without first seeking the advice of a professional.
My wife and I are acquiring a ground floor flat in Ilkley. When we first instructed lawyer, they said that they were on all mainstream bank panels. Our financial adviser contacted us just now to say that they don't seem to be on the Nationwide approved list. Were it to be true, what should we do? Should we just choose a new lawyer that is on their panel or should we cover the costs for dual representation, with Nationwide appointing their own approved lawyer.
If you are acquiring a property requiring a mortgage it is usual for the purchaser’s lawyers to also act for the purchaser's lender. In order to act for a bank or building society a solicitor has to be on that lender's conveyancing panel. An application has to be made by the conveyancing practitioner to the lender to become a member of the lender's panel and there are increasingly strict conditions which the conveyancing practitioner has to meet. Some building societies now require their panel members to be part of the Law Society’s Conveyancing Quality Scheme. Your lawyer should call Nationwide and see if they can apply for membership of their conveyancing panel, but if that is not viable they will instruct their own lawyers to represent them. You don't have to instruct a firm on Nationwide's conveyancing panel as you are at liberty to use your preferred Ilkley lawyers, in which case your legal fees may increase, and it will likely delay the transaction as you have another set of people involved.