Is the fact that my solicitor in Yorkshire Dales is not on my mortgage company's conveyancing panel that there is a problem with the quality of the firm’s conveyancing?
That is more than likely an incorrect assumption to make. There are plenty of plausible explanations. A recent report by the solicitors regulator revealed 76% of law firms surveyed had been removed from at least one lender panel. The top 5 reasons are as follows: (1) low volume of transactions (2) the solicitor is a sole practitioner (3) as part of the HSBC panel reduction (4) regulatory contact by SRA (5) accidental removal. Should you be concerned you should simply call the Yorkshire Dales conveyancing practice and enquire why they are no longer on the approved list for your lender.
Me and my fiancee are acquiring our first property. The solicitor has contact usto check if we would like to order supplemental conveyancing searches. We are really unsure what's appropriate for conveyancing in Yorkshire Dales
The range of Yorkshire Dales conveyancing searches depends primarily on the property, the location, the possibility of any of these risks, your knowledge of the area and risks, your general approach to risk. What matters is that you properly appreciate what information the searches could give you. Then you can decide if you consider that you need that search. Where you are unsure, ask your conveyancing practitioner to explain.
When will exchange of contracts happen for domestic conveyancing in Yorkshire Dales and am I required to attend the solicitors office?
If you are round the corner to our conveyancing solicitors in Yorkshire Dales you are invited in to sign contracts. That being said, the law practices we work with supply a countrywide conveyancing service and give as equally diligent and professional a job for you when dealing with you by post or email. The executing of the contract is not the critical part. A signed contract is just a prerequisite for the solicitor to address the formalities when the time is right, which will usually be very shortly after signing. The exchange process is nowadays normally dealt with by telephone and can be very rapid, although where a lengthy "chain" is involved, since the process requires the relevant party's solicitor (not necessarily a conveyancing solicitor in Yorkshire Dales)to be in the office available at the end of the phone to exchange contracts.
Me and my partner are buying a house in Yorkshire Dales. I might seem paranoid but how we can trust a conveyancer? At some point we have to send funds into their account. What is the protection we have from them run away with our money?
Be assured that all money in a Solicitors client account is 100% safe, and even if your Solicitor ran off with it, the Law Society would reimburse you fully.
I have a mortgage with Virgin Money for my property in Yorkshire Dales. Conveyancing was finalised some time ago. In the event that I decide to rent out the flat and do not currently have a buy-to-let mortgage do I need to remortgage to a buy-to-let mortgage or inform Virgin Money?
You must advise Virgin Money prior to renting your property as this is likely to be a breach of Virgin Money’s mortgage conditions. It may be that Virgin Money will permit you to let 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 Virgin Money directly. It should not be necessary to do this via a Virgin Money conveyancing panel solicitor.
Completion of my purchase has taken place for my property in Yorkshire Dales. Conveyancing was satisfactory but I would like to complain about the lender. How does one go about formally complaining?
Most lenders have complaints procedures. Your first port of call should be one of the lender’s branches or the Customer Services Team at head office. Ordinarily complaints to a lender are sorted out very quickly. If you feel the matter is not resolved you can write to Financial Ombudsman Service who will take matters further.
I've recently bought a leasehold house in Yorkshire Dales. Am I liable to pay service charges relating to a period prior to completion of my purchase?
Where the service charge has already been demanded from the previous owner and they have not paid you would not usually be personally liable for the arrears. However, your landlord may still be able to take action to forfeit the lease. It is an essential part 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 acquired a 1 bedroom flat in Yorkshire Dales, conveyancing formalities finalised April 1995. Can you shed any light on how much the price could be for a 90 year extension to my lease? Comparable properties in Yorkshire Dales with an extended lease are worth £222,000. The ground rent is £50 yearly. The lease terminates on 21st October 2095
With just 71 years unexpired we estimate the premium for your lease extension to be between £9,500 and £11,000 plus plus your own and the landlord's "reasonable" professional fees.
The suggested premium range above a general guide to costs for renewing a lease, but we are not able to advice on the actual costs without more comprehensive investigations. You should not use the figures in tribunal or court proceedings. There may be additional concerns that need to be considered and you obviously should be as accurate as possible in your negotiations. Please do not move forward based on this information before seeking the advice of a professional.