Our Ripon conveyancer has identified a difference between the surveyor’s assumptions in the valuation survey and what is in the legal papers for the property. My lawyer informs me that he is obliged to ensure that the lender is OK with this discrepancy and is content to go ahead. Is my lawyer’s stance legitimate?
Your conveyancing practitioner must comply with the UK Finance Lenders’ Handbook requirements which do require that your lawyer disclose any incorrect assumptions in the lender’s valuation report and the legal papers. Should you refuse to allow your lawyer to make the appropriate notification then your lawyer will have no choice but to discontinue acting for both parties.
It is is a decade since I purchased my house in Ripon. Conveyancing solicitors have now been retained on the sale but I can't find the deeds. Will this jeopardise the sale?
Don’t worry too much. Firstly the deeds may be with the mortgage company or they may be archived with the conveyancers who oversaw the purchase. Secondly the chances are that the title will be registered at the land registry and you will be able to prove you are the registered owner by your conveyancing lawyers obtaining current official copies of the land registers. Almost all conveyancing in Ripon involves registered property but in the unlikely event that your property is unregistered it is more problematic but is not insurmountable.
I have justfound out that Stirling Law have been shut down. They carried out my conveyancing in Ripon for a purchase of a leasehold apartment 10 months ago. How can I establish that the property is registered correctly in the name of the former proprietor?
The easiest way to check if the premises is registered to you, you can make a search of the land registry (£3.00). You can either do this yourself or ask a law firm to do this for you. If you are not registered you can seek help from one of a number of Ripon conveyancing specialists.
How does conveyancing in Ripon differ for new build properties?
Most buyers of new build residence in Ripon contact us having been asked by the builder to exchange contracts and commit to the purchase even before the property is finished. This is because new home sellers in Ripon tend to buy the real estate, 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 used to new build conveyancing in Ripon or who has acted in the same development.
I am looking for a ground for flat up to £245,000 and identified one round the corner in Ripon I like with open areas and station in the vicinity, the downside is that it only has 51 years unexpired on the lease. There is not much else in Ripon suitable, so just wondered if I would be making a grave error acquiring a short lease?
If you need a home loan the remaining unexpired lease term may be a potential deal breaker. Reduce the offer by the anticipated lease extension will cost if it has not already been discounted. If the current owner has owned the premises for a minimum of twenty four months you can request that they start the process of the extension and then assign it to you. You can add 90 years to the existing lease term and have £0 ground rent by law. You should speak to your conveyancing solicitor about this matter.
I've recently bought a leasehold property in Ripon. Am I liable to pay service charges relating to a period prior to completion of my purchase?
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. 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).
Leasehold Conveyancing in Ripon - Examples of Questions you should consider Prior to Purchasing
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For most Ripon leaseholds the outlay for major works tend not to be built into the maintenance charges, although there some managing agents in Ripon require leasehold owners to pay into a sinking fund created for the specific purpose of establishing a fund for larger works. How much is the yearly service fee and ground rent? The answer will be important as a) areas could cause problems in the block as the common areas may begin to deteriorate if maintenance remain unpaid b) if the tenants have a dispute with the running of the building you will want to know about it