My home in West Moors is up for sale and I have accepted an offer. Will my conveyancing practitioner have to be required to be on the TSB conveyancing panel in order to deal with redeeming my mortgage?
Ordinarily, even if your lawyer is not on the TSB 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 conditions fairly frequently currently.
There are numerous conveyancing solicitors in West Moors but how do I know who I should use?
We would encourage you not to base your choice on the lowest West Moors conveyancing quote. You really do get what you pay for when it comes to property lawyers. A cheap quote may mean that the conveyancing solicitor is handling a lot of jobs at one time and you won’t get the quality of service and the attention that you need. It is, however, wise to use a conveyancer who has a fixed fee on a no sale, no fee basis. This way, you go into the conveyancing with your eyes wide open.
I happen to be the sole beneficiary of my late grandmother’s estate with all property in now in my sole name, including the house in West Moors. The West Moors property was put into my name in May. I plan to dispose of the house. I understand that there is a CML 6 month 'rule', meaning my property ownership could be treated the same way as if I'd bought the property in May. Will no one buy the property for half a year?
The CML handbook obliges conveyancers to: "report to us immediately if the owner or registered proprietor has been registered for less than six months." Technically you might be affected by that. How practical a view mortgage companies take of it, depend on the lender as this requirement chiefly exists to pick up on the purchase and immediately sell or the flipping of property.
I had a mortgage agreed in principle with Leeds Building Society. West Moors conveyancing practitioners were chosen. What is the average time that one could expect to receive a mortgage offer from Leeds Building Society?
Some lenders take longer than others. Have Leeds Building Society conducted the survey? Have you advised Leeds Building Society as to your lawyers' details and checked that your lawyers are on the Leeds Building Society conveyancing panel? Sometimes it can take as long as six weeks for a mortgage offer to be issued.
A relative suggested that if I am purchasing in West Moors I should carry out a Neighbourhood, Planning and Local Amenity Search. Can you explain what the purpose of this search is?
A search of this type is usually included in the estimate for your West Moors conveyancing searches. It is a large document of about 40 pages, listing and setting out important information about West Moors around the property and the people living there. It includes an Aerial Photograph, Planning Applications, Land Use, Mobile Phone Masts, Rights of Way, the West Moors Housing Market, Council Tax Banding, the type of People living in the area, the dominant type of Housing, the Average Property Price, Crime details, West Moors Education with plans and statistics, Local Amenities and other useful information concerning West Moors.
I used Arc property Solicitors a few years ago for my conveyancing in West Moors. Now, I need the files however cannot find the solicitor. What do I do?
Do contact the Solicitors Regulatory Authority (SRA) to help locate your conveyancing files. They can be contacted on please contact on 0870 606 2555. Alternatively, you should use their online form to make an enquiry. You will need to provide the SRA with as much information as possible to assist their search, including the name and address in West Moors of the conveyancing firm of solicitors you previously hired, the name of conveyancing solicitor with whom you had dealings, and the date on which you last had dealings with the firm.
I am employed by a reputable estate agency in West Moors where we see a few flat sales jeopardised due to short leases. I have been given contradictory information from local West Moors conveyancing firms. Please can you clarify whether the seller of a flat can commence the lease extension formalities for the purchaser on completion of the sale?
Provided that the seller has been the owner for at least 2 years it is possible, to serve a Section 42 notice to start the lease extension process and assign the benefit of the notice to the purchaser. The benefit of this is that the proposed purchaser need not have to sit tight for 2 years to extend their lease. Both sets of lawyers will agree to form of assignment. The assignment needs to be completed prior to, or simultaneously with completion of the sale.
Alternatively, it may be possible to extend the lease informally by agreement with the landlord either before or after the sale. If you are informally negotiating there are no rules and so you cannot insist on the landlord agreeing to grant an extension or transferring the benefit of an agreement to the buyer.
I bought a basement flat in West Moors, conveyancing having been completed half a dozen years ago. 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? Corresponding flats in West Moors with a long lease are worth £265,000. The ground rent is £50 levied per year. The lease ceases on 21st October 2100
You have 75 years unexpired the likely cost is going to be between £8,600 and £9,800 as well as legals.
The suggested premium range above a general guide to costs for renewing a lease, but we are not able to provide the actual costs without more comprehensive investigations. Do not use this information in tribunal or court proceedings. There are no doubt additional issues that need to be considered and clearly you want to be as accurate as possible in your negotiations. You should not take any other action placing reliance on this information before seeking the advice of a professional.
Why do I have to send my conveyancing practitioner with various items of identification before I can proceed with my conveyancing in West Moors?
West Moors lawyers are required by the Law Society, Solicitors Regulation Authority, the Land Registry and current AML Regulations to certify that the have verified the identity of their clients. It will also be a requirement of your lender if you are obtaining a mortgage. In addition they have to complete various forms, particularly those relating to Land Tax and need to have details such as your full names, NI number and DOB.