I have given 8 weeks notice to my existing landlord and have to leave my let out apartment in Clevedon by 20/12/2024. Conveyancing for my house purchase is progressing. Is it possible to complete in six weeks as I wish to avoid having to find short term accommodation?
It is unwise to give notice on a rental until you have exchanged. Assuming that you have not previously done so, update to your conveyancer and request that they chase the sellers solicitors, try to get a realistic time scale from them that everyone will look to achieve
I am selling my flat in Clevedon. Will the conveyancing practitioner need to be on the Virgin Money conveyancing panel in order to deal with the discharge of my mortgage?
Ordinarily, even if your lawyer is not on the Virgin Money conveyancing panel they can still act for you on your sale. It might be that the lender will not release the original deeds (if applicable and increasingly irrelevant) until after the mortgage is paid off. You should speak to your lawyer directly before you start the process though to ensure that there is no problem as lenders are changing their specifications fairly frequently currently.
My wife and I have organised a further advance on our home loan from TSB as we wish to carry out renovations to our home in Clevedon. Are we obliged to choose a bricks and mortar Clevedon solicitor on the TSB conveyancing panel to deal with the legals?
TSB would not normally require firms on their conveyancing panel to deal with such a matter. If they do require any legal work then you would need to ensure that such a lawyer was on the TSB conveyancing panel.
The mortgage over my property is with RBS for my property in Clevedon. Conveyancing was finalised some time ago. In the event that I decide to rent out my property and do not currently have a buy-to-let mortgage do I need to remortgage to a buy-to-let mortgage or inform RBS?
RBS must be informed of your intention in advance of renting your property as this is likely to be a breach of RBS’s mortgage conditions. In many cases banks or building societies 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 RBS directly. It should not be necessary to do this via a RBS conveyancing panel solicitor.
Our sealed bid on a detached house in Clevedon has been accepted, but there is a chain. The sellers have placed an offer on on an apartment, however it’s not yet tied up, and have viewings of other apartments in the pipeline. I have chosen a local conveyancing solicitor in Clevedon. What should be my next step? When do I get the mortgage application with TSB started?
It is understandable to have concerns where there is a chain as you are unlikely to want to be too out of pocket prematurely (home loan application is approx one thousand pounds, then survey, Clevedon conveyancing search charges, etc). First, you must ensure that your property lawyer is on the TSB conveyancing panel. Regarding the subsequent phase this very much depends on the circumstances of your case, motivation for the property and on the state of the market. During a rising market some home buyers would apply for the mortgage with TSB and pay for the valuation and only if it was satisfactory would they ask their solicitor to press on with searches.
I know that there are debates on Chancel Insurance on online forums. Do I require chancel insurance when acquiring a house in Clevedon? or Apparently there is a law dating back centuries that means some owners of property living in a parish church boundary may be liable to pay for maintenance towards the chancel within the church. Is this appropriate for conveyancing in Clevedon?
Unless a prior purchase of the premises took place post 12 October 2013 you may assume that solicitors delivering conveyancing in Clevedon to continue to propose a a chancel search and or chancel repair liability policy.
The deeds to our home can not be found. The conveyancers who conducted the conveyancing in Clevedon 4 years ago no longer exist. What are my next steps?
Gone are the days when you need to have the physical official documentation to evidence that you own the land or premises, as the Land Registry hold details of all registered land or property electronically.
When it comes to leasehold conveyancing in Clevedon what are the most common lease problems?
Leasehold conveyancing in Clevedon is not unique. All leases are unique and drafting errors can result in certain clauses are not included. For example, if your lease is missing any of the following, it could be defective:
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A duty to insure the building A provision for the recovery of money spent for the benefit of another party.
You may have difficulties when selling your property if you have a defective lease as they can affect a potential buyer’s ability to obtain a mortgage. Birmingham Midshires, The Mortgage Works, and Alliance & Leicester all have express requirements when it comes to what is expected in a lease. If a mortgage lender believes that the lease does not cover certain provisions they may refuse to provide security, forcing the purchaser to pull out.
I own a 2 bed flat in Clevedon, conveyancing was carried out in 1997. How much will my lease extension cost? Similar properties in Clevedon with a long lease are worth £195,000. The ground rent is £45 levied per year. The lease runs out on 21st October 2087
With 63 years unexpired we estimate the premium for your lease extension to span between £16,200 and £18,600 as well as costs.
The figure that we have given is a general guide to costs for renewing a lease, but we are not able to supply the actual costs in the absence of comprehensive due diligence. You should not use this information in tribunal or court proceedings. There are no doubt other issues that need to be taken into account and clearly you want to be as accurate as possible in your negotiations. You should not take any other action based on this information before seeking the advice of a professional.