Why do I have to pay up front when it comes to conveyancing in Arnold?

If you are buying a property in Arnold your solicitor will ask you place them with monies to cover the search fees. This will be the total of the cost of the conveyancing searches. When the deposit is as part of the total price then this will be needed shortly in advance of exchange of contracts. The final balance that is needed should be transferred shortly before completion.

My lawyer has informed me that absentee landlord insurance is necessary on my purchase. What is the level of cover for Arnold conveyancing?

The right level of absentee landlord indemnity insurance depends on who your lender is. It would differ for example between Yorkshire Building Society and Leeds Building Society. Conveyancing lawyers as opposed to borrowers take out such insurances.

I have decided to exercise my right to buy my property in Arnold off the council. I have a mortgage agreed with Skipton. Conveyancing is not something I have any knowledge of. Can I proceed without a solicitor easily? I think we can but we keep being told I should have one. Any advice?

It is not advisable to proceed with a house purchase without a solicitor. The council's solicitor are not acting for you. You need a solicitor for a number reasons. One of which is to verify what plans the Council have for repairs and refurbishment for the next five years. Many leaseholders have been stung for contributions of thousands of pounds. In any event, if you are getting a mortgage with Skipton, you will need to appoint a solicitor on the Skipton conveyancing panel.

After much negotiation I have agreed a price on an apartment in Arnold. My mortgage broker recommended their conveyancers. I paid an on account payment of £225. A couple of days later, the conveyancer contacted me to say that they were not on the RBS conveyancing panel. Am I right in thinking that I should be due a refund?

You should be able to recover this from the law firm if they were not on the RBS panel. They should have asked at the outset which lender you were obtaining a mortgage with. An important lesson to readers of this site is to check that the lawyers are on the appropriate lender panel.

The deeds to our house are lost. The solicitors who conducted the conveyancing in Arnold 10 years ago are no longer around. What are my next steps?

Assuming the title is registered the information relating to your proprietorship will be documented by HMLR under a Title Number. It is easy to perform a search at the Land Registry, locate your property and get up to date copies of the Registered Entries for less than a fiver. If the property is Leasehold then the Land Registry will in most cases retain a certified copy of the Registered Lease and again, a copy can be ordered for £20 inclusive of VAT.

I'm purchasing a new build house in Arnold with a mortgage from Coventry Building Society. The builders refused to move on the price so I negotiated five thousand pounds worth of additionals instead. The estate agent advised me not disclose to my solicitor about the extras as it will impact my loan with the bank. Should I keep quiet?.

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've recently bought a leasehold flat in Arnold. Am I liable to pay service charges relating to a period prior to my ownership?

In a situation where the service charge has already been demanded from the previous lessee and they have not paid you would not usually be personally liable for the arrears. Strange as it may seem, your landlord may still be able to take action to forfeit the lease. A critical element of leasehold conveyancing for your conveyancer to ensure to have an up to date clear service charge receipt before completion of your purchase. If you have a mortgage this is likely to be a requirement of your lender.

If you purchase part way through an accounting year you may be liable for charges not yet demanded even if they relate to a period prior to your purchase. In such circumstances your conveyancer would normally arrange for the seller to set aside some money to cover their part of the period (usually called a service charge retention).

I invested in buying a ground floor flat in Arnold, conveyancing having been completed half a dozen years ago. Can you work out an approximate cost of a lease extension? Similar flats in Arnold with a long lease are worth £227,000. The average or mid-range amount of ground rent is £50 levied per year. The lease ends on 21st October 2097

You have 72 years unexpired we estimate the premium for your lease extension to range between £9,500 and £11,000 plus 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 in the absence of detailed due diligence. Do not use the figures in tribunal or court proceedings. There may be other issues that need to be considered and clearly you should be as accurate as possible in your negotiations. Neither should you take any other action based on this information without first getting professional advice.