The solicitor who helped my former purchase has quoted £1150 for freehold conveyancing in Yate. I’m selling a newly refurbished house for £300,000. Is this overpriced? Is it in excess of what I should be paying for conveyancing in Yate?
The quote is slightly on the high side. If you are prepared to expend time scrutinising costs you may be able to trim some of the expense by say a hundred pounds. That being said, you couldcome to regret opting for an an unknown lawyer. If is important to check the solicitor can act for your mortgage company. You can employ our search tool to select a Yate conveyancing firm on the lender’s approved list of lawyers which can often include conveyancing solicitors in Yate.
We have agreed to purchase a house in Yate. A rare aspect is that the roof has a solar panel. Solicitors conducting should look into this right? Will my lender Nationwide be concerned?
Given that you are obtaining a mortgage with Nationwide your lawyer must check the formal requirements set out in Section two of UK Finance Lenders’ Handbook for Nationwide. The Council of Mortgage Lenders’ Handbook contains minimum provisions for solar panel roof-space leases, and lawyers are required to report to Nationwide where a lease fails to comply with these conditions. The specifications relate to the installation of panels on properties in England and Wales and is not limited to Yate.
I was told three weeks ago that my mortgage has been agreed to by Barclays. Is it usual for Barclays to only issue the offer once my solicitor in Yate is approved on their conveyancing panel? Barclays have asked my solicitor to see a copy of their PI Insurance.
Mortgage companies tend not to not issue a mortgage until they have details of a lawyer on their panel. It can take a few weeks for Barclays to deal with your lawyer's application to be on the Barclays conveyancing panel. There's no guarantee that your solicitor will be accepted.
Our offer on a house in Yate has been accepted, but there is a chain. The sellers have put an offer on a property, but it’s not yet agreed to, and have viewings of other flats in the pipeline. I have chosen a high street conveyancing solicitor in Yate. What should be my next step? When should I get the mortgage application with Leeds Building Society going?
It is usual to have concerns where there is a chain as you are unlikely to want to incur expenses too early (mortgage application is in the region of one thousand pounds, then survey, Yate conveyancing search costs, etc). The first thing to do is ensure that your lawyer is on the Leeds Building Society conveyancing panel. Concerning the next steps this very much depends on the specifics of your transaction, desire for this property and on the state of the market. In a rising market many buyers would apply for the mortgage with Leeds Building Society and arrange for the valuation and only if it comes back ok would they ask their conveyancing practitioner to proceed with searches.
My friend suggested that where I am buying in Yate I should ask my conveyancer to execute a Neighbourhood, Planning and Local Amenity Search. What does it cover?
This is a search is sometimes included in the estimate for your Yate conveyancing searches. It is a large report of more than thirty pages, listing and detailing important information about Yate around the property and the people living there. It incorporates an Aerial Photograph, Planning Applications, Land Use, Mobile Phone Masts, Rights of Way, the Yate Housing Market, Council Tax Banding, the demographics of People living in the area, the dominant type of Housing, the Average Property Price, Crime statistics, Yate Education with maps and statistics, Local Amenities and other useful information regarding Yate.
My wife and I purchased a renovated Georgian property in Yate. Conveyancing lawyer acted for me and National Westminster Bank. I happened to do a free search for it on the Land Registry database and there are two entries: one for freehold, the second leasehold with the matching property. Is it worth asking National Westminster Bank to clarify?
You should assess the Freehold register you have again and check the Charges Register for mention of a lease. The best way to be sure that you are also the registered owner of the leasehold and freehold title as well is to check (£3). It is not completely unheard of in Yate and other locations in the country and poses no real issues for owners other than when they buy they have to account for both freehold and leasehold interests when dealing with buyers. You can also check the situation with the conveyancing practitioner who conducted the work.
I am buying a new build house in Yate with the aid of help to buy. The developers would not budge the price so I negotiated five thousand pounds worth of additionals instead. The estate agent suggested that I not reveal to my conveyancer about the deal as it will put at risk my loan with the bank. Do I keep my lawyer in the dark?.
All lenders require a Disclosure of Incentives Form from the developer 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.
I am hoping to put an offer on a small detached house that appears to tick a lot of boxes, at a great figure which is making it all the more appealing. I have just discovered that the title is leasehold as opposed to freehold. I am assuming that there are issues purchasing a leasehold house in Yate. Conveyancing advisers have not yet been instructed. Will my lawyers set out the risks of buying a leasehold house in Yate ?
Most houses in Yate are freehold and not leasehold. In this scenario it’s worth having a local solicitor used to dealing with such properties who can help the conveyancing process. We note that you are purchasing in Yate in which case you should be looking for a Yate conveyancing practitioner and check that they have experience in advising on leasehold houses. As a matter of priority you will need to check the number of years remaining. As a tenant you will not be entirely free to do whatever you want with the house. The lease will likely included provisions for example obtaining the landlord’sconsent to carry out changes to the property. You may also be required to pay a maintenance charge towards the upkeep of the estate where the house is part of an estate. Your lawyer will advise you fully on all the issues.
I purchased a basement flat in Yate, conveyancing was carried out half a dozen years ago. Can you work out an approximate cost of a lease extension? Comparable flats in Yate with an extended lease are worth £176,000. The average or mid-range amount of ground rent is £50 charged once a year. The lease terminates on 21st October 2074
With just 50 years unexpired we estimate the premium for your lease extension to be between £31,400 and £36,200 as well as costs.
The figure that we have given is a general guide to costs for renewing a lease, but we cannot give you a more accurate figure in the absence of detailed investigations. Do not use this information in tribunal or court proceedings. There are no doubt other issues that need to be taken into account and clearly you should be as accurate as possible in your negotiations. Neither should you take any other action based on this information before getting professional advice.