We are purchasing a 4 bedroom semi-detached house in Otley. Our aim is to carry out a loft conversion at the property.Will the conveyancing process include checks to ascertain if these works are allowed?
Your conveyancer should check the deeds as conveyancing in Otley will sometimes reveal restrictions in the title deeds which prevent certain works or necessitated the consent of another owner. Some additions need local authority planning consent and approval in accordance building regulations. Many areas are designated conservation areas and special planning restrictions apply which often prevent or impact extensions. It would be prudent to check these things with a surveyor ahead of any purchase.
When it comes to mortgage companies such as RBS, do Otley conveyancing practitioners face a fee to be on the conveyancing panel?
We are not aware of any mortgage company fees to register on their panel, although some do levy an administration charge to deal with the processing of the conveyancing panel application.
I have instructed a Otley lawyer having made sure that they are on the Yorkshire BS conveyancing panel. Does my lawyer arrange the survey of the property?
Yorkshire BS will need an independent valuation of the property. Your lawyer will not arrange this. Usually Yorkshire BS will appoint their own surveyor to do this, and you will have to pay for it. Remember that this is a valuation for mortgage purposes and not a survey. You may wish to consider appointing your own Otley surveyor to carry out a survey or prepare a home buyers report on the property. It is up to you to satisfy yourself that the property is structurally sound before you buy it. If the survey or report reveals that building work is needed, you should tell your solicitor. You may wish to renegotiate with the seller.
How does conveyancing in Otley differ for new build properties?
Most buyers of new build premises in Otley approach us having been asked by the housebuilder to sign contracts and commit to the purchase even before the premises is finished. This is because house builders in Otley tend to buy the land, plan the estate and want to get the plots sold off as they are building the properties. Buyers, therefore, will have to exchange contracts without actually seeing the house they are buying. To reduce the chances of losing the property, buyers should instruct property lawyers as soon as the property is reserved and mortgage applications should be submitted quickly. Due to the fact that it could be several months and even years between exchange of contracts and completion, the mortgage offer may need to be extended. It would be wise to use a lawyer who specialises in new build conveyancing especially if they are accustomed to new build conveyancing in Otley or who has acted in the same development.
Due to the advice of my in-laws I had a survey completed on a property in Otley before retaining lawyers. I have been advised that there is a flying freehold overhang to the house. My surveyor advised that some lenders may not grant a loan on such a home.
It varies from the lender to lender. Santander has different requirements from Birmingham Midshires. If you contact us we can check with the relevant lender. If you lender is happy to lend one our lawyers can help as they are used to dealing with flying freeholds in Otley. Conveyancing can be more complicated and therefore you should check with your conveyancing solicitor in Otley to see if the conveyancing costs will increase in light of this.
I'm converting the mortgage on my existing house to a buy to let mortgage with Nottingham Building Society and intend to use the remaining equity as a deposit on further house. The area we are talking about is Otley. Will your solicitors be able to act for the two banks and tie in the transactions?
Do use our comparison tool on this page to ensure that the conveyancers are on the relevant lender panels. On the basis that they are your conveyancer should be able to tie up the two conveyancing matters but you should talk with you solicitor and make clear your expectations and needs.
I need to find a conveyancing solicitor for sale conveyancing in Otley. I've land on a web site which looks to be the perfect offering If there is a chance to get all this stuff done via web that would be ideal. Do I need to be concerned? What are the potential pitfalls?
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?
When it comes to my conveyancing in Otley should I be paying VAT on the following: (1) Land reg fee on purchase (2) Pre - completion search fee (3) SDLT E submission on purchase (4) Bank TT fee
(1) Land reg fee on purchase - No (2) Pre - completion search fees -No, (such conveyancing searches are HMLR ones and means £4 and possibly £2 bankruptcy per name on your mortgage) (3) SDLT E submission on your purchase - There is no VAT on Stamp Duty. However if the firm is charging a stamp duty e-submission fee as part of their services - some Otley conveyancers do - that will incur VAT(4) Bank transfer fee - Yes it is for the solicitor's time in submitting the funds this way.