Unfortunately I am unable to travel far from Leeds. Can you please clarify why all Leeds solicitors aren't included on all bank panels?
Even though it may seem unfair for lenders to limit who can represent them, from the public’s or solicitor’s viewpoint, the flip side is that lenders are increasingly anxious and consider it imperative to protect them from mortgage fraud. As a result of this concern banks have consolidated their conveyancing panel to a size that they are happy to control.
I am the sole recipient of my late grandmother’s estate with all property in now in my sole name, including the my former home in Leeds. The Leeds property was put into my name in February. I plan to dispose of the property. I understand that there is a Mortgage Lenders six month 'rule', meaning my property ownership may be treated the same way as though I had purchased the house in February. Do I have to wait 6 months to sell?
The CML handbook mandates conveyancers to: "report to us immediately if the owner or registered proprietor has been registered for less than six months." Technically you may be affected by that. How sensible a view lenders take of it, depend on the lender as this clause is primarily there to capture the purchase and immediately sell or the flipping of properties.
We previously appointed conveyancers located in Leeds on the Santander solicitor approved list. They have just invoiced me a separate amount for handling the Santander mortgage. Is this an additional conveyancing fee set by Santander?
Unfortunately, so long as it is in their Terms and Conditions or estimate then yes your conveyancing practitioner may levy a fee for this. This charge is not dictated by Santander but by your Leeds conveyancer. Some firms on the Santander panel will levy ’dealing with mortgage’ fee but some practices incorporate it on their overall fee.
I recently had an offer agreed on a house in Leeds. My mortgage broker suggested a lawyer. I paid an advanced payment of £200. A few days later, the conveyancer called me to say that they were not on the Santander conveyancing panel. Am I right in thinking that I should be due a refund?
You should be able to recover this from the law firm if they were not on the Santander panel. They should have asked at the outset which lender you were obtaining a mortgage with. An important lesson to readers of this site is to check that the lawyers are on the appropriate lender panel.
Have purchased a a semi-detached house in Leeds , What is the estimated time for the Land Registry to record my proprietorship? My Leeds conveyancing solicitor works at snail pace, so I want to be sure the registration formalities are addressed.
As far as conveyancing in Leeds is concerned, registration is no quicker or slower than anywhere else in England and Wales. Rather than based on location, timescales can adjust according to the party submitting the application, whether there are errors and whether the Land registry communicate with any other parties. Currently in the region of three quarters of submission are fully addressed within two weeks but occasionally there can be protracted delays. Registration occurs after the buyer has moved in to the property so an expedited registration is not typically primary concern yet if there is a degree of urgency associated with the registration then you or your lawyers should speak with the land registry and explain the circumstances.
I am looking for a ground for flat up to £235,500 and identified one close by in Leeds I like with a park and station in the vicinity, however it's only got 51 remaining years left on the lease. There is not much else in Leeds suitable, so just wondered if I would be making a mistake buying a lease with such few years left?
If you need a mortgage the remaining unexpired lease term will be a potential deal breaker. Reduce the price by the amount the lease extension will cost if it has not already been discounted. If the existing proprietor has owned the property for at least twenty four months you could request that they commence the lease extension formalities and then assign it to you. You can add 90 years to the existing lease with a zero ground rent applied. You should consult your conveyancing lawyer concerning this.
I'm refinancing my existing home to a buy to let mortgage with The Royal Bank of Scotland and intend to use the remaining equity as a deposit on a second property. The area we are looking at is Leeds. Will your conveyancers be able to act for both sets of banks and link together the two deals?
Make use of our comparison tool on this page to ensure that the solicitors are approved by both lenders. Assuming that they are the lawyer will be able to simultaneously deal with the two transactions but you should have a chat with you solicitor and communicate your desired outcome and needs.
Back In 2004, I bought a leasehold flat in Leeds. Conveyancing and Platform Home Loans Ltd mortgage organised. A letter has just been received from someone claiming to own the reversionary interest in the property. Attached was a ground rent demand for rent dating back to 1998. The conveyancing practitioner in Leeds who previously acted has long since retired. What should I do?
The first thing you should do is make enquiries of HMLR to be sure that the individual purporting to own the freehold is indeed the registered owner of the freehold reversion. There is no need to instruct a Leeds conveyancing practitioner to do this as it can be done on-line for a few pound. You should note that in any event, even if this is the rightful landlord, under the Limitation Act 1980 no more than 6 years of rent can be collected.
I am the registered owner of a garden flat in Leeds, conveyancing having been completed half a dozen years ago. Can you let me have an estimated range of the fair premium for a lease extension? Comparable properties in Leeds with a long lease are worth £221,000. The average or mid-range amount of ground rent is £50 levied per year. The lease finishes on 21st October 2095
With only 70 years unexpired we estimate the price of your lease extension to span between £9,500 and £11,000 plus professional fees.
The suggested premium range above a general guide to costs for renewing a lease, but we are not able to supply a more accurate figure in the absence of detailed investigations. Do not use this information in tribunal or court proceedings. There are no doubt additional issues that need to be considered and you obviously want to be as accurate as possible in your negotiations. You should not take any other action based on this information without first seeking the advice of a professional.