I can't travel far from Yaxley. What is the rationale as to why all Yaxley lawyers are not on all lender panels?
As inequitable as it may seem for lenders to limit who can act for them, from the public’s or conveyancer’s standpoint, the the contrary view is that mortgage companies are increasingly anxious and regard it imperative to defend themselves against illegal activities. As a consequence of this concern mortgage companies have restricted their conveyancing panel to a manageable size.
My wife and I buying a 4 bedroom semi-detached house in Yaxley. Our aim is to carry out an extension to the side at the house.Will legal due diligence on the property involve checks to see if these alterations are permitted?
Your solicitor should review the deeds as conveyancing in Yaxley will sometimes identify restrictions in the title documents which prohibit certain changes or necessitated the consent of another owner. Some extensions require local authority planning permissions and approval under the building regulations. Many locations are designated conservation areas and special planning restrictions apply which often prevent or affect extensions. You should check these things with a surveyor before you commit yourself to a purchase.
I have paid off my mortgage with Coventry BS. I assume I don't need a Yaxley property lawyer on the Coventry BS panel to remove the mortgage at the Land Registry. Please confirm.
If you have finished paying off your Coventry BS 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 Coventry BS mortgage from the register. Coventry BS, 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 Coventry BS has sent the Land Registry the discharge electronically, and
- Coventry BS has instructed the Land Registry to do so
HSBC have agreed my home loan in principle, my bid on a property in Yaxley has been accepted, what are the next steps?
Your property agent will need to know who your solicitors are (be sure the solicitors are on the lender’s approved list). Telephone HSBC or your broker and finish off any outstanding paperwork. HSBC will instruct a valuer who will get in touch with the selling agent or vendor to schedule an appointment. Once carried out (assuming no problems) it takes on average a fortnight for the mortgage offer to be issued. HSBC will issue the offer to you and your lawyers. The legal work will then take it’s course according the nature and complexity of the conveyancing in Yaxley.
Are there restrictive covenants that are commonly identified during conveyancing in Yaxley?
Restrictive covenants can be picked up when reviewing land registry title as part of the legal transfer of property in Yaxley. An 1874 stipulation that was seen was ‘The houses to be erected on the estate are each to be of a uniform elevation in accordance with the drawings to be prepared or approved by the vendor’s surveyor…’
Due to the guidance of my in-laws I had a survey completed on a property in Yaxley in advance of retaining conveyancers. I have been informed that there is a flying freehold element to the house. The surveyor has said that some mortgage companies may not issue a mortgage on such a property.
It depends who your proposed lender is. HSBC has different instructions from Halifax. If you call us we can check with the relevant bank. If you lender is happy to lend one our lawyers can assist as they are accustomed to dealing with flying freeholds in Yaxley. Conveyancing may be slightly more expensive based on your lender's requirements.
In searching the internet for the words conveyancing in Yaxley it reveals many solicitorslocally. With so much choice what is the best way to find the right conveyancing solicitor for me?
The ideal method of choosing the right conveyancer is via personal referral, so seek the opinion of colleagues and family who have purchased a property in Yaxley or a local estate agent or mortgage broker. Fees for conveyancing in Yaxley differ, so it's sensible to obtain a minimum of four quotes from varying types of law firms. Make sure that you know that the fees are fixed.
I am hoping to put an offer on a small detached house that seems to be perfect, at a great figure which is making it all the more appealing. I have subsequently discovered that it's a leasehold as opposed to freehold. I would have thought that there are issues purchasing a leasehold house in Yaxley. Conveyancing advisers have are about to be instructed. Will they explain the issues?
The majority of houses in Yaxley are freehold and not leasehold. In this scenario it’s worth having a local conveyancer used to dealing with such properties who can help the conveyancing process. It is clear that you are buying in Yaxley so you should seriously consider shopping around for a Yaxley conveyancing solicitor and check that they have experience in dealing with leasehold houses. First you will need to check the unexpired lease term. Being a lessee 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’spermission to conduct changes to the property. It may be necessary to pay a service charge towards the upkeep of the communal areas where the property is located on an estate. Your conveyancer should report to you on the legal implications.
I invested in buying a 1st floor flat in Yaxley, conveyancing having been completed half a dozen years ago. Can you please calculate a probable premium for a statutory lease extension? Similar flats in Yaxley with a long lease are worth £186,000. The average or mid-range amount of ground rent is £55 levied per year. The lease expires on 21st October 2078
With 53 years left to run the likely cost is going to be between £27,600 and £31,800 as well as plus your own and the landlord's "reasonable" professional fees.
The suggested premium range that we have given is a general guide to costs for extending a lease, but we are not able to provide the actual costs without more comprehensive due diligence. You should not use this information in a Notice of Claim or as an informal offer. There may be other 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 placing reliance on this information before getting professional advice.