My Kirkbymoorside solicitor has discovered a difference between the information in the valuation survey and what is revealed within the legal papers for the property. My lawyer says that he is obliged to ensure that the bank is happy with this discrepancy and is content to go ahead. Is my conveyancer’s stance legitimate?

Your must comply with the UK Finance Lenders’ Handbook requirements which do require that your lawyer disclose any incorrect assumptions in the lender’s valuation report and the legal papers. Should you refuse to allow your lawyer to make the appropriate notification then your lawyer will have no choice but to discontinue acting for you.

I am the registered owner of a freehold residence in Kirkbymoorside but still invoiced for rent, why is this and what is this?

It is rare for properties in Kirkbymoorside and has limited impact for conveyancing in Kirkbymoorside but some freehold properties in England (particularly common in North West England) pay an annual sum known as a Chief Rent or a Rentcharge to a third party who has no other legal interest in the land.

Rentcharge payments are usually between £2.00 and £5.00 per year. Rentcharges date back many centuries, but the Rent Charge Act 1977 barred the generation of fresh rentcharges post 1977.

Previous rentcharges can now be redeemed by making a one off payment under the Act. Any rentcharges that are still in existence in 2037 is to be dispensed with completely.

It has been three months following my purchase conveyancing in Kirkbymoorside completed. I have checked the Land Registry website which shows that I paid £200,000 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 property 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.

Kirkbymoorside Leasehold Conveyancing - Examples of Questions you should ask before Purchasing

Is the freehold owned jointly by the leaseholders? Please note if it is less than 80 years it will have adverse implications on the marketability of the property. It is worth checking with your bank that they are content with residual term of the lease. Leases with fewer than 80 years remaining means that you will almost definitely need a lease extension at some point and it is worth finding out how much this will be. For most Kirkbymoorsidelease extensions you would be required to have been the owner of the residence for two years in order to be entitled to extend the lease. Are there any major works on the horizon that will likely increase the maintenance costs?

We are soon to complete on the purchase a property in Kirkbymoorside but as a consequence of wreckage from the recent storms I have agreed reparation from the owner of £2k in the form of a deduction in the price. I had intended this to be dealt with as part of the conveyancing process yet the bank will not permit this. Should they have been informed?

Any being on the lender conveyancing panel is required to disclose to the bank of any changes to the purchase amount. In the event that you were to refuse your to report the price change to your lender then they would have to disinstructing themselves from representing you and the bank.