I am purchasing a brand new duplex in Hope and my conveyancer is telling me that she is duty bound to the bank to disclose incentives from the seller. I am nearing the developer’s deadline to sign contracts and I would rather not prolong deal. Is my lawyer right?
You should not exchange unless you have been advised to do so by your solicitor. A precondition to being on a bank panel is to comply with the UK Finance Lenders’ Handbook conditions. The CML Conveyancing Handbook requires that your lawyer have the appropriate Disclosure of Incentive form completed by the developer and accepted by your lender.
After reading moneysavingexpert.com for a cheap solicitor in Hope, most advise that I should instruct a CQS assured lawyer. Can you explain what CQS is?
Hope Conveyancing Quality Scheme practices have achieved certification by the law Society The Law Society created CQS to promote high standards in the home moving process. CQS enables consumers to recognise practices who provide a quality residential conveyancing. Hope is one of the many areas in England and Wales in which accredited firms are located. The scheme obliges law firms to undergo a strict assessment, compulsory training, self-certification, spot checks and yearly assessments in order to maintain CQS status. It is available to solicitors and not licensed conveyancers and has the support of the Building Societies Association.
I am buying a detached bungalow in Hope. Our aim is to an extension at the rear at the property.Will legal work on the property involve enquiries to see if these alterations are prohibited?
Your conveyancer will review the deeds as conveyancing in Hope will on occasion reveal restrictions in the title documents which restrict categories of alterations or need the consent of another owner. Certain extensions require local authority planning consent and approval under the building regulations. Many areas are designated conservation areas and special planning restrictions apply which frequently prevent or affect extensions. It would be prudent to check these issues with a surveyor before you commit yourself to a purchase.
We are getting a further advance on our mortgage from Yorkshire BS as we want to carry out improvements to our property in Hope. Are we obliged to appoint a nearby Hope solicitor on the Yorkshire BS conveyancing panel to handle the legals?
Yorkshire BS would not normally appoint firms on their conveyancing panel to deal with the formalities. If they do require any legal work then you would need to ensure that such a lawyer was on the Yorkshire BS panel.
I have paid off my mortgage with Virgin Money. I assume I don't need a Hope conveyancing practitioner on the Virgin Money panel to remove the mortgage at the Land Registry. Please confirm.
If you have finished paying off your Virgin Money 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 Virgin Money mortgage from the register. Virgin Money, 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 Virgin Money has sent the Land Registry the discharge electronically, and
- Virgin Money has instructed the Land Registry to do so
In sourcing the internet for the term cheap conveyancing in Hope it shows results of many conveyancersin the vicinity. With so much choice what is the best way to find the right solicitor for purchase transaction?
The preferential method of choosing the right conveyancer is via personal recommendation, so seek the opinion of colleagues and relatives who have bought a property in Hope or the reputable estate agent or mortgage broker. Charges for conveyancing in Hope differ, so it's sensible to obtain at least four fee estimates from different solicitors. Dont forget to clarify that the fees are fixed.
I am attracted to a two apartments in Hope both have about 50 years left on the lease term. Will this present a problem?
There are plenty of short leases in Hope. The lease is a legal document that entitles you to use the property for a period of time. As the lease shortens the marketability of the lease decreases and results in it becoming more costly to acquire a lease extension. This is why it is often a good idea to extend the lease term. Sometimes it is difficulties arise selling premises with a short lease as mortgage lenders may be reluctant to lend money on such properties. Lease enfranchisement can be a protracted process. We recommend you get professional help from a solicitor and surveyor with experience in this area.
I acquired a 1 bedroom flat in Hope, conveyancing was carried out February 2000. Can you work out an approximate cost of a lease extension? Equivalent properties in Hope with a long lease are worth £176,000. The ground rent is £50 per annum. The lease finishes on 21st October 2104
With 80 years remaining on your lease we estimate the premium for your lease extension to be between £7,600 and £8,800 as well as legals.
The suggested premium range that we have given is a general guide to costs for extending a lease, but we cannot give you the actual costs without more comprehensive due diligence. Do not use this information in a Notice of Claim or as an informal offer. There may be other concerns that need to be taken into account and you obviously want to be as accurate as possible in your negotiations. Neither should you move forward placing reliance on this information before getting professional advice.