My home in Ripon is up for sale and I have accepted an offer. Will my property lawyer need to be required to be on the Kent Reliance conveyancing panel in order to deal with repayment of my mortgage?
Ordinarily, even if your lawyer is not on the Kent Reliance conveyancing panel they can still act for you on your sale. It might be that the lender will not release the original deeds (if applicable and increasingly irrelevant) until after the mortgage is paid off. You should speak to your lawyer directly before you start the process though to ensure that there is no problem as lenders are changing their requirements fairly frequently in recent years.
When it comes to mortgage companies such as Skipton, do Ripon conveyancing practitioners have to pay a fee to be on the conveyancing panel?
We are unaware of any mortgage company fees to register on their panel, although some do charge an administration fee to deal with the processing of the conveyancing panel application.
It is not clear whether my bank requires a lease extension. I have called my Ripon bank branch on numerous occasions and was told it does not affect the mortgage offer and they would lend. My Ripon conveyancing solicitor - who is on the lender conveyancing panel- called to say that they refuse to lend based on their UK Finance Lenders’ Handbook minimum lease term requirements. Who do I believe?
As long as the solicitor is on the bank panel, she or he must follow the Council of Mortgage Lenders’ Handbook requirements for the bank. Unless your lawyer obtains specific confirmation in writing that the mortgage company will go ahead, your lawyer has no choice but to refrain from exchanging contract and committing you to the purchase. We would suggest that you ask the lender to contact your lawyer in writing confirming that they will accept the number of years left on the lease.
Nottingham have agreed my home loan in principle, my offer on a house in Ripon has been agreed to, now what?
Your estate agent will need to know who your solicitors are (ensure that the conveyancing practitioners are on the lender’s approved list). Telephone Nottingham or your financial adviser and finish off any outstanding paperwork. Nottingham will appoint a valuer who will get in contact with the selling agent or vendor to schedule an appointment. Once conducted (assuming no problems) it takes approximately ten days for the mortgage offer to be issued. Nottingham will send the offer to you and your property lawyers. The legal work will then take it’s course according the nature and complexity of the conveyancing in Ripon.
We are planning on selling our home in Ripon and the buyers lawyers are claiming that there is a risk of it being built land that was not decontaminated. A local conveyancer would know this is not the case. It does beg the question why the purchasers are using an online conveyancing firm rather than a conveyancing solicitor in Ripon. Having lived in Ripon for three years we know that this is a non issue. Is it a good idea to get in touch with our local Authority to obtain confirmation that the buyers are looking for.
It would appear that you have a conveyancing solicitor already. What do they say? You must enquire of your lawyer before you do anything. It is very possible that once the local authority has been informed of a potential issue it cannot be insured against (a bit like being diagnosed with a serious illness and then taking out life insurance to cover that same sickness)
The estate agent has sent us the confirmation of our purchase of a new build apartment in Ripon. Conveyancing is a frightening process at the best of times but I have never purchased a new build flat before. Can you give me some examples of some of the questions asked in new build conveyancing.
Set out below is a sample of a few leasehold new build questions that you should expect your new-build leasehold conveyancing in Ripon
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Has the Lease plan been approved by the Land Registry and if not when will they be lodged for this purpose? Please confirm the Lease plans are architect prepared. Forfeiture - bankruptcy or liquidation must not apply under this provision. The Vendor must covenant to keep unsold units in good repair until long leases are granted therefore.
Over the last few months I have been searching for a leasehold apartment up to £305k and found one close by in Ripon I like with amenity areas and transport links in the vicinity, however it's only got 52 years on the lease. There is not much else in Ripon suitable, so just wondered if I would be making a grave error buying a short lease?
If you need a mortgage the remaining unexpired lease term will likely be problematic. Discount the price by the expected lease extension will cost if it has not already been discounted. If the existing owner has owned the premises for at least 2 years you could ask them to commence the lease extension formalities and then assign it to you. You can add 90 years to the existing lease term with a zero ground rent applied. You should consult your conveyancing lawyer regarding this.
I am 3 weeks into a residential purchase having been recommend to conveyancers by the estate agent to carry out the conveyancing in Ripon. We are not happy. Could you help me find new lawyers?
They would have to be very bad to suggest diss instructing them. Has your mortgage been issued? If so you need to inform them of the replacement solicitor and ensure the offer are re-issued. The solicitor ideally needs to be on the mortgage company approved list to avoid added expenses and frustration. So that should be your starting point. The find a solicitor tool should assist you in finding a lender approved lawyer for your home move in Ripon