I'm the sole beneficiary of my late father’s will and I have everything in my name alone, including the my former home in Adamsdown. Conveyancing formalities meant that the Land Registry date was in March. I now wish to sell up. I do know about the Mortgage Lenders 6 month 'rule', meaning my property ownership could be treated the same way as if I'd bought the property in March. Will no one buy the property for half a year?
The Council of Mortgage Lenders’ handbook instructs conveyancers to: "report to us immediately if the owner or registered proprietor has been registered for less than six months." By the strict wording you could be caught by that. How sensible a view mortgage companies take of it, depend on the lender as this clause principally exists to capture the purchase and immediately sell or the wholesaling and assigning of property.
I have decided to exercise my right to buy my property in Adamsdown off the council. I have a mortgage agreed with Coventry BS. Conveyancing is new to me. 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 Coventry BS, you will need to appoint a solicitor on the Coventry BS conveyancing panel.
I currently have a mortgage with Santander for my property in Adamsdown. Conveyancing has been completed some time ago. If I am intending 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 Santander?
Santander must be informed of your intention in advance of renting your property as this is likely to be a breach of Santander’s mortgage conditions. In many cases banks or building societies 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. You need not do this via a Santander conveyancing panel lawyer.
I appreciate that there are debates on Chancel Insurance on online forums. Do I require chancel insurance when acquiring a residence in Adamsdown? or I am told that there is a law dating back centuries that could mean that house owners residing in a parish church boundary will be compelled to pay for maintenance to the chancel within the church. Is this suitable for conveyancing in Adamsdown?
Unless a previous acquisition of the house completed post 12 October 2013 you may expect solicitors carrying out conveyancing in Adamsdown to continue to advocate a chancel search and or insurance against a claim.
Just had an offer accepted on a new build apartment in Adamsdown. Conveyancing is daunting at the best of times but I have never purchased a new build flat before. What sort of enquires would be asked in new build legal work.
Set out below are examples of a few leasehold new build questions that you may expect your new-build leasehold conveyancing in Adamsdown
-
The Lease must contain a provision on behalf of the Vendor to pay the service charges in respect of unoccupied units in order to ensure that all services can be provided. There must be mutual enforceability of lessee’s covenants. Please provide evidence that the form of Lease proposed has been approved by the Land Registry. Where there is an Undertaking being granted there is the risk of forfeiture of the Headlease subject to relief if one or more of the Underlessees are willing to accept the original Head Lessee’s obligations as otherwise relief will be denied to the Underlessees. The only alternatives are the Head Lessor agreeing not to forfeit the Headlease or the Head Lessee guaranteeing to the Underlessees that it will not be in breach of the Headlease. The Vendor must covenant to keep unoccupied units in good repair until long leases are granted therefore.
I've recently found out that there is a flying freehold element on a house I put an offer in a fortnight ago in what was supposed to be a simple, chain free conveyancing. Adamsdown is the location of the property. Can you offer any advice?
Flying freeholds in Adamsdown are not the norm but are more likely to exist in relation to terraced houses. Even where you use a solicitor outside Adamsdown you must be sure that your lawyer goes through the deeds thoroughly. Your mortgage company may require your conveyancing solicitor to take out an indemnity policy. Some of the more diligent conveyancing solicitors in Adamsdown may decide that this is not enough and that the deeds be re-written to give you the most up to date legal protection. If so, the next door neighbour also had to sign up to the revised deeds.It is possible that your lender will not accept the situation so the sooner you find out the better. You should also check with your insurance broker as to whether they will insure a flying freehold premises.
Hoping to buy a property located in Adamsdown and I am already nervous. I couldn't find anything specific about Adamsdown. Conveyancing will be needed in due course but do you know about the Adamsdown area? or perhaps some other tips you can share?
Rather than looking online forget looking online you should go and have a look at Adamsdown. In the meantime here are some basic statistics that we found
What are your top tips when it comes to appointing a Adamsdown conveyancing practice to carry out our lease extension conveyancing?
When appointing a solicitor for your lease extension (regardless if they are a Adamsdown conveyancing firm) it is essential that they be familiar with the legislation and specialises in this area of work. We suggest that you make enquires with several firms including non Adamsdown conveyancing practices prior to instructing a firm. Where the conveyancing practice is ALEP accredited then that’s a bonus. The following questions might be helpful:
-
Can they put you in touch with clients in Adamsdown who can give a testimonial? What are the costs for lease extension conveyancing?
Adamsdown Leasehold Conveyancing - A selection of Queries before buying
-
What is the annual maintenance fee and ground rent? Make sure you investigate if there are any onerous restrictions in the lease. For instance plenty of leases prohibit pets being allowed in in a block in Adamsdown. If you like the flatin Adamsdown however your cat is not allowed to move with you then you have a very hard decision. Is the freehold reversion owned collectively by the leaseholders?