My lawyer in Studley is not on the Yorkshire Building Society Conveyancing Panel. Is it possible for me to use my prefered solicitor notwithstanding that they are excluded from the Yorkshire Building Society approved list?
Your options are as follows:
- Complete the purchase with your existing Studley solicitors but Yorkshire Building Society will need to instruct a conveyancer on their list of acceptable firms. This will inevitably rack up the overall conveyancing fees as well as result in delays.
- Get a new solicitor to act in the purchase, not forgetting to check they are Persuade your solicitor to do everything within their powers to join the Yorkshire Building Society conveyancing panel
I have today made my last payment due on my mortgage with UBS. I assume I don't need a Studley lawyer on the UBS panel to discharge the mortgage at the Land Registry. Am I right?
If you have finished paying off your UBS mortgage, they may send you evidence showing that you have paid it off. Alternatively they may notify the Land Registry directly. The Land Registry need to see this evidence before they will remove the UBS mortgage from the register. UBS, and any evidence they send you, will determine the action you need to take. In cases where no conveyancer is acting for you and you have paid off your mortgage:
- but are not moving to another property
- where UBS has sent the Land Registry the discharge electronically, and
- UBS has instructed the Land Registry to do so
I have decided to exercise my right to buy my property in Studley off the council. I have a mortgage agreed with Nottingham. Conveyancing is not something I have any knowledge of. Can I proceed without a solicitor easily? I think we can but we keep being told I should use one. Any advice?
It is not advisable to proceed with a house purchase without a solicitor. The council's solicitor are not acting for you. You need a solicitor for a number reasons. One of which is to verify what plans the Council have for repairs and refurbishment for the next five years. Many leaseholders have been stung for contributions of thousands of pounds. In any event, if you are getting a mortgage with Nottingham, you will need to appoint a solicitor on the Nottingham conveyancing panel.
I have a mortgage with Lloyds for my property in Studley. Conveyancing has been completed some time ago. If I am intending to rent out my property and do not currently have a buy-to-let mortgage do I need to remortgage to a buy-to-let mortgage or inform Lloyds?
Lloyds must be informed of your intention prior to letting out your property as this is likely to be a breach of Lloyds’s mortgage conditions. It may be that Lloyds will permit you to let out your former home without needing to switch to a buy-to-let mortgage but some lenders will add a surcharge to your mortgage rate to reflect the higher risk. You should contact Lloyds directly. You need not do this via a Lloyds conveyancing panel lawyer.
My wife and I are planning on selling our home in Studley and the buyers lawyers are claiming that there is a possibility that the property was constructed land that was not decontaminated. A local lawyer would know that there is no such problem. It does beg the question why the buyers used a factory type conveyancing firm as opposed to a conveyancing solicitor in Studley. Having lived in Studley for 4 years we know of no issue. Should we contact our local Authority to get clarification that there is no issue.
It would appear that you have a conveyancing lawyer currently acting for you. What do they say? You must check with 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 health insurance to cover that same illness)
I'm purchasing a new build house in Studley benefiting from help to buy. The developers refused to move on the amount so I negotiated £7000 of fixtures and fittings instead. The estate agent advised me not to tell my conveyancer about this side-deal as it would put at risk my mortgage with the bank. Is this normal?.
All lenders require a Disclosure of Incentives Form from the builder of any new build, converted or renovated property, It is available online from the Lenders’ Handbook page on the CML website. CML form is completed and handed to the lender's surveyor when the inspection is done.
Lenders have different policies on incentives. Some accept none at all, cash or physical, while others will accept cash incentives up to 5%.
Hard to understand why the representative of a builder would be suggesting you withold information from a solicitor when all this will be clearly visible on forms the builder has to supply to its solicitor, the buyer's solicitor and the surveyor.
I have just started marketing my 2 bed apartment in Studley. Conveyancing lawyers have not yet been instructed, but I have just received a yearly maintenance charge invoice – what should I do?
It best that you clear the invoice as normal because all rents and service payments will be allotted as part of the financial calculations for completion monies, so you should recover the relevant percentage by the purchaser for the period running from after the completion date to the subsequent invoice date. Most management companies will not acknowledge the buyer unless the service charges have been paid and are up to date, so it is important for both buyer and seller for the seller to show that they are up to date. This will smooth the conveyancing process.
I acquired a split level flat in Studley, conveyancing was carried out half a dozen years ago. Can you please calculate a probable premium for a statutory lease extension? Corresponding flats in Studley with over 90 years remaining are worth £265,000. The ground rent is £50 charged once a year. The lease terminates on 21st October 2100
With 75 years unexpired we estimate the premium for your lease extension to span between £8,600 and £9,800 plus legals.
The suggested premium range above a general guide to costs for renewing a lease, but we are not able to provide a more accurate figure without more comprehensive due diligence. Do not use this information in a Notice of Claim or as an informal offer. There may be other issues that need to be considered and you obviously should be as accurate as possible in your negotiations. Please do not take any other action placing reliance on this information without first getting professional advice.
I am buying a flat mortgage free. My solicitor has been handed with two distinct proof of photo ID, bank statement, endless utility bills. Now he requires a copy from a probate lawyer advising that the funds are in place and that it has come from inheritance and not via illegitimate means.
In today’s world you will not be able to complete any Studley conveyancing transaction without first providing evidence of your identity to your lawyers. This usually takes the form of a either your passport or driving licence and a utility bill. Remember if you are providing your driving licence as evidence of ID it must be both the paper part and photo card part, one is not acceptable without the other. Establishing of your source of funds is required under Money Laundering laws.