I have been told that property searches are the primary cause of delay in Wetherby conveyancing transactions. Is that correct?
The Council of Property Search Organisations (CoPSO) has noted the conclusions of research by MoveWithUs that conveyancing searches do not figure within the most frequent causes of hindrances in the conveyancing process. Searches are not likely to be the root cause of delay in conveyancing in Wetherby.
five months have elapsed since my purchase conveyancing in Wetherby took place. I have checked the Land Registry website which shows that I paid £200,000 when infact I paid £215,000. Why the discrepancy?
The price paid figure is taken from the application to register the purchase. It is the figure included in the Transfer (the legal deed which transfers the asset from one person to the other) and referred to as the 'consideration' or purchase price. You can report an error in the price paid figure using the LR online form. In most cases errors result from typos so at first glance the figure. Do report it so they can double check and advise.
I decided to have a survey done on a property in Wetherby before instructing lawyers. I have been told that there is a flying freehold overhang to the house. My surveyor has said that some mortgage companies may not issue a mortgage on a flying freehold home.
It depends who your proposed lender is. Bank of Scotland has different instructions for example to Halifax. If you e-mail us we can look into this further via the appropriate bank. If you lender is happy to lend one our lawyers can help as they are used to dealing with flying freeholds in Wetherby. Conveyancing may be slightly more expensive based on your lender's requirements.
Am I better off to choose a Wetherby conveyancing solicitor in close proximity to the house I am purchasing? I have an old university friend who can perform the conveyancing but his firm is located 200kilometers drive away.
The primary upside of using a local Wetherby conveyancing practice is that you can attend the office to execute paperwork, deliver your ID and pester them where appropriate. Having local Wetherby know how is a benefit. That being said it's more important to get someone that will pull out all the stops for you. If if people you trust instructed your friend and the majority were impressed that must outweigh using an unfamiliar Wetherby conveyancing lawyer solely due to them being local.
I want to let out my leasehold flat in Wetherby. Conveyancing solicitor who did the purchase is retired - so can't ask her. Is permission from the freeholder required?
A lease dictates the relationship between the freeholder and you the leaseholder; in particular, it will say if subletting is prohibited, or permitted but only subject to certain caveats. The rule is that if the lease contains no specific ban or restriction, subletting is allowed. The majority of leases in Wetherby do not prevent an absolute prevention of subletting – such a clause would adversely affect the market value the property. Instead, there is usually a basic requirement that the owner notifies the freeholder, possibly sending a duplicate of the tenancy agreement.
I own a 2 bed flat in Wetherby, conveyancing formalities finalised in 2005. How much will my lease extension cost? Corresponding flats in Wetherby with a long lease are worth £185,000. The average or mid-range amount of ground rent is £65 invoiced every year. The lease expires on 21st October 2085
With just 60 years remaining on your lease we estimate the price of your lease extension to range between £20,000 and £23,000 as well as legals.
The suggested premium range that we have given is a general guide to costs for extending a lease, but we cannot give you the actual costs in the absence of comprehensive due diligence. Do not use the figures in a Notice of Claim or as an informal offer. There are no doubt additional issues that need to be taken into account and clearly you should be as accurate as possible in your negotiations. You should not move forward based on this information before getting professional advice.
I bought a property in Wetherby last 11/3/2024 and to date it is still not recorded with the Land Registry. It was part of a new estate and my conveyancing practitioner told me that it can take twelve months to register. I have spoken with HM Land Registry directly and they have informed me the original application was cancelled due to questions not being addressed in time. Do I need to be concerned?
It is your lawyer that you must turn to here in order to satisfy any questions which have arisen as part of the registration formalities for your Wetherby property. Normal Wetherby conveyancing practice includes an undertaking on the part of the seller's conveyancer that they will assist in resolving any question raised by HMLR so it may be a case of taking action to enforce that undertaking in some way.