I am purchasing a property mortgage free in Valley. I have been residing for the last dozen years in Valley. Conveyancing searches are exorbitant. As I have knowledge of the road and vicinity very well should I not bother getting the solicitor to do all the conveyancing searches?
Provided that you do not need a mortgage, then the vast majority of the Valley conveyancing searches are optional. Your solicitor will ’encourage you, perhaps strongly, that you should have searches completed, but she is duty bound to do this. Do bear in mind; if you are likely to sell the house one day, it may be of importance to your prospective purchaser what the searches disclose. Sometimes properties with no practical issues can still show up adverse search results. A good conveyancing solicitor in Valley will provide you some sensible guidance concerning this.
I have been recommended a conveyancing solicitor in Valley. I I am struggling to find out if they are accepted on the Leeds Building Society approved list of lawyers. Could you or the lender confirm if they are on the panel?
You should e-mail your lawyer and enquire if they can act for the lender. Otherwise please call Leeds Building Society who may be able to confirm.
Can you point me to a directory of Nationwide panel solicitors in Valley on the Building Society Association’s Website?
Unfortunately not yet. There is no such directory service on the CML or Building Society Association websites. Very few banks make their panel listings visible on the web. If you are in need of a Valley solicitor on the Nationwide please make the most of our facility.
We had instructed solicitors located in Valley on the Skipton solicitor approved list. They have just billed me a supplemental amount for handling the Skipton mortgage. Is this an additional conveyancing fee set by Skipton?
As unfair as it may appear, as long as it’s in their Terms and Conditions or Quote then yes your property lawyer can levy a fee for this. The fee is not set by Skipton but by your Valley solicitor. Numerous firms on the Skipton panel will charge an ‘acting for lender’ fee and others do not.
I am purchasing a property in Valley. A rare aspect is that the roof has a solar panel. Yorkshire BS have issued a mortgage offer so presumably this is not a concern to them. Why is my solicitor raising questions about the panel?
Given that you are obtaining a mortgage with Yorkshire BS your lawyer must check the conveyancing requirements set out in Part 2 of UK Finance Lenders’ Handbook for Yorkshire BS. The Council of Mortgage Lenders’ Handbook contains minimum requirements for solar panel roof-space leases, and lawyers are required to report to Yorkshire BS where a lease fails to comply with these requirements. The specifications relate to the installation of panels on properties nationwide and is not isolated to Valley.
I have been told that property searches are the number one cause of stalling in Valley house deals. Is this right?
The Council of Property Search Organisations (CoPSO) released conclusions of a review by MoveWithUs that conveyancing searches do not feature amongst the most frequent causes of hindrances during the legal transfer of property. Local searches are unlikely to feature in any slowing down conveyancing in Valley.
I'm purchasing a new build house in Valley with the aid of help to buy. The developers refused to budge the price so I negotiated 6k of fixtures and fittings instead. The house builders rep told me not disclose to my solicitor about this extras as it could adversely affect my mortgage with the lender. Do I keep my lawyer in the dark?.
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.
Estate agents have just been given the go-ahead to market my ground floor apartment in Valley. Conveyancing has not commenced, however I have just received a half-yearly service charge invoice – what should I do?
Your conveyancing lawyer is likely to suggest that you should discharge the invoice as normal because all ground rent and service charges will be allotted as part of the financial calculations for completion monies, so you will be reimbursed by the buyer 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 own a ground floor flat in Valley, conveyancing having been completed in 1996. How much will my lease extension cost? Comparable flats in Valley with a long lease are worth £211,000. The ground rent is £45 invoiced every year. The lease expires on 21st October 2092
With just 67 years left to run we estimate the premium for your lease extension to range between £10,500 and £12,000 as well as plus your own and the landlord's "reasonable" professional fees.
The suggested premium range above a general guide to costs for extending a lease, but we are not able to advice on the actual costs in the absence of detailed investigations. You should not use the figures in tribunal or court proceedings. There are no doubt other concerns that need to be considered and you obviously should be as accurate as possible in your negotiations. Neither should you move forward based on this information without first getting professional advice.