I am getting a offer of a home loan from Nat West. I would like to instruct a Licensed Conveyancer in North Yorkshire. Does the Nat West Conveyancing panel include Licensed Conveyancers?
The Nat West conveyancing panel is, like many other lenders, represented by the Council or Mortgage Lenders or Building Society Association, open to Licensed Conveyancers regulated by the CLC.
I have been told that property searches are the number one cause of stalling in North Yorkshire house deals. Is that correct?
The Council of Property Search Organisations (CoPSO) has noted the conclusions of a review by MoveWithUs that conveyancing searches do not feature amongst the top 10 causes of delays in the conveyancing process. Searches are not likely to be the root cause of holding up conveyancing in North Yorkshire.
four months have gone by since my purchase conveyancing in North Yorkshire completed. I have checked the Land Registry website which shows that I paid £150,000 when infact I paid £160,000. 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 asset 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 leasehold apartment up to £305k and found one near me in North Yorkshire I like with amenity areas and station in the vicinity, however it's only got 49 years on the lease. I can't really find anything else in North Yorkshire suitable, so just wondered if I would be making a grave error acquiring a lease with such few years left?
If you require a home loan that many years will be an issue. Discount the price by the expected lease extension will cost if not already taken into account. If the existing owner has owned the premises for at least twenty four months you may ask them to commence the lease extension formalities and pass it to you. An additional ninety years can be extended on to the current lease with a zero ground rent applied. You should speak to your conveyancing lawyer about this matter.
How easy is it to use your search app to choose a conveyancing practitioner in North Yorkshire on the authorised to act for my mortgage?
Step one is to choose a mortgage company such as Accord Mortgages Ltd, Bank of Scotland or TSB then choose your location e.g. North Yorkshire. Conveyancing firms in North Yorkshire and beyond will then be listed.
I've recently bought a leasehold flat in North Yorkshire. 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 owner and they have not paid you would not usually be personally liable for the arrears. However, your landlord may still be able to take action to forfeit the lease. It is an essential part 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 purchased a garden flat in North Yorkshire, conveyancing was carried out in 1998. Can you please calculate a probable premium for a statutory lease extension? Comparable properties in North Yorkshire with over 90 years remaining are worth £171,000. The average or mid-range amount of ground rent is £50 levied per year. The lease runs out on 21st October 2103
With just 79 years remaining on your lease we estimate the price of your lease extension to be between £8,600 and £9,800 plus 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 renewing a lease, but we cannot give you a more accurate figure in the absence of comprehensive investigations. You should not use the figures in a Notice of Claim or as an informal offer. There are no doubt additional concerns that need to be considered and clearly you should be as accurate as possible in your negotiations. Neither should you take any other action based on this information without first seeking the advice of a professional.