Having been recommended your web site we were about to appoint conveyancing solicitor in Yarmouth endorsed by you but stumbled across alternative fee calculations via the web appear less pricey – why is this?
One can find plenty of conveyancing organisations advertising so-called cheap conveyancing, but additionalcharges result in the completion fee mounting up beyond all recognition. Conveyancers are obliged to make sure that fees outlined in terms of business should be honest and reasonable raised The law firms that we put forward for conveyancing in Yarmouth genuinely set out all costs for a domestic conveyancing matter.
My lawyer has identified a defect with the lease for the apartment we are purchasing in Yarmouth. The other side have suggested title insurance as a workaround. We are happy with insurance and will pay for it. Our property lawyer has advised that he must ensure that the bank is happy with this solution. Who is the client here, us or the mortgage company ?
The short answer to your last question is that, notwithstanding the potential for a conflict of interest, you and the mortgage company are the client. Your conveyancer must comply with the UK Finance Lenders’ Handbook requirements. The UK Finance Lenders’ Handbook conditions require your lawyer to disclose issues such as defects with the lease so that the lender can be afforded the opportunity to check with their valuer as to the extent that the value of the property is affected. Should you refuse to allow your lawyer to make the appropriate notification then your conveyancing practitioner will have no choice but to discontinue acting for you.
I purchased a freehold house in Yarmouth but still invoiced for rent, why is this and what is this?
It’s unusual for properties in Yarmouth and has limited impact for conveyancing in Yarmouth but some freehold properties in England (particularly common in North West England) pay an annual sum known as a Chief Rent or a Rentcharge to a third party who has no other legal interest in the land.
Rentcharge payments are usually between £2.00 and £5.00 per year. Rentcharges date back hundreds of years, but the Rent Charge Act 1977 barred the establishment of fresh rentcharges from 1977 onwards.
Old rentcharges can now be extinguished by making a one off payment under the Act. Any rentcharges that are still in existence in 2037 is to be extinguished.
I have paid off my mortgage with Nationwide. I assume I don't need a Yarmouth lawyer on the Nationwide panel to discharge the mortgage at the Land Registry. Please confirm.
If you have finished paying off your Nationwide 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 Nationwide mortgage from the register. Nationwide, 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 Nationwide has sent the Land Registry the discharge electronically, and
- Nationwide has instructed the Land Registry to do so
I can not work out if my mortgage offer requires a lease extension. I have telephoned my Yarmouth bank branch on a couple of occasions and was reassured it wasn't a problem and they would lend. My Yarmouth conveyancing solicitor - who is on the lender conveyancing panel- telephoned and was told they would not lend based on their published requirements. Who do I believe?
Provided that the conveyancer is on the mortgage company panel, she or he must adhere to the CML Handbook requirements for the bank. 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 mortgage company to contact your lawyer in writing confirming that they will accept the number of years remaining.
Intending to buy a maisonette in Yarmouth. I have received an online quote from a licenced conveyancer, which states: "There will be no charge for dealing with the Building Society if you are obtaining a mortgage". I take this to mean that there will be no additional fee if the solicitor is on the Yorkshire BS conveyancing panel. I wanted to make sure it means there will be no additional fees for dealing with the mortgage.
They are simply saying that the cost for acting for the lender is included in the fee being quoted. It is worth you checking that the Yarmouth property lawyer is on the Yorkshire BS conveyancing panel.
I appreciate that there are debates on Chancel Insurance on online forums. Do I require chancel insurance when acquiring a residence in Yarmouth? or I am told that there is a law dating back centuries that means some homeowners residing in a parish church boundary will be compelled to pay for repairs towards the chancel within the church. Is this appropriate for conveyancing in Yarmouth?
Unless a previous acquisition of the house took place after 12 October 2013 you may assume that solicitors carrying out conveyancing in Yarmouth to continue to recommend a chancel search and or insurance against a claim.
I am looking for a flat up to £235,500 and found one round the corner in Yarmouth I like with amenity areas and railway links nearby, the downside is that it's only got 52 remaining years left on the lease. I can't really find anything else in Yarmouth suitable, so just wondered if I would be making a grave error acquiring a short lease?
If you require a mortgage the remaining unexpired lease term will be problematic. Reduce the price by the expected lease extension will cost if it has not already been discounted. If the existing proprietor has owned the premises for at least 2 years you can request that they start the process of the extension and pass it to you. You can add 90 years to the existing lease and have £0 ground rent by law. You should consult your conveyancing lawyer concerning this.