I have just been advised by my mortgage adviser that my Thirsk property lawyer is not on the lender Solicitor panel. How can I be sure if this is correct?
Your first step should be to call your Thirsk lawyer directly. You lawyer should notify you of the situation. If they are not on the panel they may be able to suggest a Thirsk conveyancing practice that is on the conveyancing panel for your lender.
Can you vouch for a Coventry Building Society accepted Thirsk conveyancing practice finish our house move within less than a month? Am I best advised to go for a local Thirsk firm or a web based conveyancer?
We can recommend some very good Thirsk conveyancing firms. You can also walk up the high street in Thirsk. Approach some well established law practices and ask to speak with a conveyancing solicitor for a costs illustration. Discuss your expectations together with your reasons and get an assurance on your deadline. Choose the one that appears most efficient.
It is a dozen years since I bought my home in Thirsk. Conveyancing lawyers have recently been instructed on the sale but I am unable to locate my deeds. Will this jeopardise the sale?
Don’t worry too much. Firstly the deeds may be with your mortgage company or they may be in the possession of the lawyers who oversaw the purchase. Secondly in all probability the land will be registered at the land registry and you will be able to prove you are the registered owner by your conveyancing lawyers acquiring up to date copy of the land registers. Nearly all conveyancing in Thirsk relates to registered property but in the rare situation where your property is unregistered it adds to the complexity but is not insurmountable.
We are getting a further advance on our mortgage from Nottingham as we wish to conduct alterations to our property in Thirsk. Are we obliged to choose a local Thirsk solicitor on the Nottingham conveyancing panel to deal with the legals?
Nottingham would not normally instruct a member of their conveyancing panel to handle such a matter. If they do require any legal work then you would need to ensure that such a lawyer was on the Nottingham panel.
I can not work out if my bank obliges me to make sure the lease term for the flat is extended prior to the completion date. I have telephoned my Thirsk bank branch on a couple of occasions and was told it does not affect the mortgage offer and they will lend. My Thirsk conveyancing solicitor - who is on the mortgage company conveyancing panel- called to say that they refuse to lend in accordance with their published requirements. I have no idea who is right.
Provided that the lawyer is on the lender approved list, they must follow the CML Handbook requirements for the lender. Unless your lawyer obtains specific confirmation in writing that the bank 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 remaining.
I am selling my flat. I had a double glazing fitted in October 2007, but did not receive a FENSA certificate or Building Regulation Certificate. My buyer's mortgage company, Yorkshire BS are being problematic. The Thirsk solicitor who is on the Yorkshire BS conveyancing panel is happy to accept ‘lack of building regulation’ insurance but Yorkshire BS are insisting on a building regulation certificate. Why do Yorkshire BS have a conveyancing panel if they don't accept advice from them?
It is probably the case that Yorkshire BS have referred the matter to their valuer. The reason why Yorkshire BS may not want to accept indemnity insurance is because it does not give them any reassurance that the double glazing was correctly and safely installed. The indemnity insurance merely protects against enforcement action which is very unlikely anyway.
I am looking at a two apartments in Thirsk both have about forty five years left on the leases. Will this present a problem?
A lease is a right to use the property for a prescribed time frame. As a lease gets shorter the value of the lease deteriorates and results in it becoming more expensive to acquire a lease extension. For this reason it is advisable to extend the lease term. More often than not it is difficult to sell a property with a short lease as mortgage lenders less inclined to grant a loan on properties of this type. Lease enfranchisement can be a protracted process. We recommend you get professional help from a conveyancer and surveyor with experience in this arena.
I invested in buying a studio flat in Thirsk, conveyancing was carried out in 2009. Can you let me have an estimate of the premium that my landlord can legally expect in return for granting a renewal of my lease? Similar properties in Thirsk with over 90 years remaining are worth £222,000. The average or mid-range amount of ground rent is £50 per annum. The lease terminates on 21st October 2095
With 70 years unexpired we estimate the premium for your lease extension to be between £9,500 and £11,000 as well as legals.
The figure above a general guide to costs for extending a lease, but we cannot give you a more accurate figure in the absence of comprehensive due diligence. Do not use the figures in tribunal or court proceedings. There are no doubt additional concerns that need to be taken into account and you obviously should be as accurate as possible in your negotiations. You should not take any other action based on this information before getting professional advice.
Me and my wife accepted an offer on a Thirsk apartment we inherited six years ago in 2010. I have over ten years conveyancing know-how and, now retired, intend to undertake my own legal work. The purchaser's lawyer has informed me that their bank will not allow you to do your own conveyancing requiring the funds to be transferred to a solicitor's bank account.
Mortgage instructions to property lawyers from all mainstream lenders state that If the seller is not legally represented the borrower's lawyers should check whether the mortgage company needs to be told so that a decision can be reached as to whether or not they are prepared to progress.