I am assisting my sister sell her property in Yaxley. Does the conveyancer order an energy assessment or should I organise this?
Following the abolition of HIPs, EPC’s remained a mandatory part of moving house. An EPC must be to hand before the property is advertised. This is not a task that lawyers normally arrange. Where you are using a Yaxley conveyancing solicitor they might help arrange energy performance certificates due to their relationships with long established local assessors
I currently have a mortgage with Santander for my property in Yaxley. Conveyancing has been completed months ago. If I am intending to rent out my property and do not currently have a buy-to-let mortgage do I need to remortgage to a BTL mortgage or inform Santander?
You must advise Santander in advance of letting out your property as this is likely to be a breach of Santander’s mortgage conditions. It may be that Santander will allow you to rent out your former home without needing to switch to a buy-to-let mortgage but some lenders will add a surcharge to your mortgage rate to reflect the higher risk. You should contact Santander directly. It should not be necessary to do this via a Santander conveyancing panel lawyer.
Having read lots of mortgage guides, I note that they all recommend that you should get your house surveyed prior to buying it. When I asked my local Yaxley solicitor - who is on the Nottingham conveyancing panel - on this she said they don't do this and I need to contract an independent surveyor. is that correct?
Nottingham will need an independent valuation of the property. Your lawyer will not arrange this. Usually Nottingham will appoint their own surveyor to do this, and you will have to pay for it. Remember that this is a valuation for mortgage purposes and not a survey. You may wish to consider appointing your own Yaxley surveyor to carry out a survey or prepare a home buyers report on the property. It is up to you to satisfy yourself that the property is structurally sound before you buy it. If the survey or report reveals that building work is needed, you should tell your solicitor. You may wish to renegotiate with the seller.
It has been five months since my purchase conveyancing in Yaxley concluded. I have checked the Land Registry website which shows that I paid £150,000 when infact I paid £160,000. 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 residence 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.
How simple is it to switch conveyancer as I need to find one who is on the Virgin Money conveyancing list. I was using a family conveyancing solicitor in Yaxley round the corner but she is not accepted by Virgin Money
We will our best to assist in finding you a conveyancing solicitor in Yaxley on the Virgin Money panel. Please note that the solicitors that we on the directory do not pay us commission if you instruct them and are authorised and regulated by the Solicitors Regulation Authority who oversee all conveyancing solicitors in Yaxley. Using the find a conveyancing solicitor tool on this site, you can compare costs for conveyancing solicitors in Yaxley and throughout England and Wales.
We're first time buyers - had an offer accepted, but the estate agent advised that the vendor will only move forward if we instruct their preferred lawyers as they need a ‘quick sale’. We would rather use a local conveyancer accustomed to conveyancing in Yaxley
We suspect that the owner is not behind this request. Should the vendor desire ‘a quick sale', alienating a genuine purchaser is counter productive. Contact the owners directly and make sure they comprehend that (a)you are keen to buy (b)you are excited to move forward, with finances in place © you are chain free (d) you intend to proceed fast (e)however you intend to use your own,trusted Yaxley conveyancing lawyers - rather thanthe ones that will provide their negotiator at the agency a commission or achieve conveyancing thresholds set by head office.
I am attracted to a two flats in Yaxley both have about 50 years unexpired on the leases. Should I regard a short lease as a deal breaker?
There are no two ways about it. A leasehold apartment in Yaxley is a wasting asset as a result of the reducing lease term. The nearer the lease gets to zero years unexpired, the more it adversely affects the marketability of the property. The majority of buyers and lenders, leases with less than eighty years become less and less attractive. On a more upbeat note, leaseholders can extend their leases by serving a Section 42 Notice. One stipulation is that they must have owned the premises for two years (unlike a Section 13 notice for purchasing the freehold, when leaseholders can participate from day one of ownership). When successful, they will have the right to an extension of 90 years to the current term and ground rent is effectively reduced to zero. Before moving forward with a purchase of a property with a short lease term remaining you should talk to a solicitor specialising in lease extensions and leasehold enfranchisement. We are are happy to put you in touch with Yaxley conveyancing experts who will explain the options available to you during an initial telephone conversation free of charge. More often than not it is possible to negotiate informally with the freeholder to extend the lease. You may find he or she is happy to negotiate informally and willing to consider your offer straight off, without having to involve anyone else. This will save you time and money and it could help you reach a lower price on the lease. You need to ensure that the agreed terms represent good long-term value compared with the standard benefits of the Section 42 Notice and that onerous clauses are not inserted into any redrafting of the lease.
Yaxley Leasehold Conveyancing - Sample of Queries before Purchasing
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Who manages the building? It would be prudent to enquire if there are any onerous restrictions in the lease. For example it is reasonably common in Yaxley leases that pets are not permitted in certain buildings in Yaxley. If you like the propertyin Yaxley yet your dog can’t live with you then you will be faced hard compromise.
I have been informed by various friends to expect 6-8 weeks for Yaxley conveyancing to complete.This was four weeks ago. The paperwork was only forwarded to my solicitor last week so now does it countdown?
You should be pragmatic concerning timescales. Conveyancing in Yaxley usually takes about ten weeks. This time period is not due to solicitor being slow and purposely delay matters. The amount of money involved in purchasing any property is so high, the buyer’s conveyancer having to raise a wide range of questions, searches and further checks to protect the buyer and their mortgage company (if there is to be a home loan) from expensive, avoidable problems. Conveyancing in Yaxley involves obtaining information from a range of third parties, for example other property lawyer, local councils, private companies, lenders. Some of these are well organised. Others aren't. And remember, it doesn't matter how quickly your conveyancing practitioner do their work, if the people you are buying from or are selling to aren't ready, nothing can move forward until they are.