Are the BSA planning on creating a searchable register to to identify firms on the Norwich and Peterborough Building Society conveyancing panel for example in Rothbury?
We have not been informed any plans on the part of the BSA to promote such a register.
A colleague pointed out to me me that in purchasing a property in Rothbury there could be various restrictions as to what one can do in terms of external alterations to a property. Is this right?
There are a number of properties in Rothbury which have some sort of restriction or requirement of consent to execute external variations. Part of the conveyancing in Rothbury should determine what restrictions are applicable and advising you as part of a ROT that should be sent to you.
When it comes to lenders such as Nottingham, do Rothbury conveyancers face a fee to be on the list of approved solicitors?
We are not aware of any bank fees to register on their panel, although some do levy an administration fee to deal with the processing of the conveyancing panel application.
We had chosen solicitors with offices in Rothbury on the Yorkshire BS solicitor approved list. They are now charging me a further fee for handling the Yorkshire BS mortgage. Is this an additional conveyancing fee set by Yorkshire BS?
Provided it is contained in their Terms and Conditions or estimate then yes your property lawyer may charge a fee for this. This charge is not dictated by Yorkshire BS but by your Rothbury conveyancer. Numerous firms on the Yorkshire BS panel will charge ’dealing with mortgage’ fee but some practices incorporate it on their overall fee.
I am buying a new build flat in Rothbury. Conveyancing is a frightening process at the best of times but I have never purchased a new build flat before. What sort of enquires would be asked in new build conveyancing.
Set out below are examples of a selection of leasehold new build enquiries that you may expect your new-build leasehold conveyancing in Rothbury
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If there are lifts in the building, please confirm that the owners of flats on the ground and basement floors will not be required to contribute towards the cost of maintenance and renewal. The Lease must contain a provision on behalf of the Vendor to pay the service charges in respect of unoccupied units in order to ensure that all services can be provided. Will the freehold then be transferred for a nominal consideration (not exceeding £100) to the Management Company? The Vendor must covenant to keep unsold units in good repair until long leases are granted therefore.
I am looking for a leasehold apartment up to £305k and identified one close by in Rothbury I like with amenity areas and railway links in the vicinity, however it only has 49 years on the lease. I can't really find anything else in Rothbury suitable, so just wondered if I would be making a grave error acquiring a lease with such few years left?
Should you need a home loan the remaining unexpired lease term may be a potential deal breaker. Reduce the offer by the expected lease extension will cost if it has not already been discounted. If the existing owner has owned the property for at least twenty four months you can ask them to commence the lease extension formalities and then assign it to you. You can add 90 years to the current lease and have £0 ground rent by law. You should speak to your conveyancing solicitor about this matter.
I need to instruct a conveyancing solicitor for leasehold conveyancing in Rothbury. I've discover a web site which seems to have the perfect offering If there is a chance to get all the legals done via email 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?
Last July I purchased a leasehold flat in Rothbury. 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. Strange as it may seem, 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 be sure 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 inherited a ground floor flat in Rothbury, conveyancing having been completed March 1995. Can you let me have an estimated range of the fair premium for a lease extension? Comparable properties in Rothbury with an extended lease are worth £265,000. The average or mid-range amount of ground rent is £50 yearly. The lease comes to an end on 21st October 2101
With 76 years left to run the likely cost is going to be between £8,600 and £9,800 as well as costs.
The figure above a general guide to costs for extending a lease, but we are not able to advice on a more accurate figure in the absence of comprehensive due diligence. Do not use the figures in a Notice of Claim or as an informal offer. There may be additional issues that need to be taken into account and clearly you should be as accurate as possible in your negotiations. You should not take any other action based on this information without first getting professional advice.