I am acquiring property in Cornwall. My lawyer has never been on on the mortgage company conveyancing list. Is it possible for me to use my Cornwall conveyancing solicitor notwithstanding that they are not on the bank approved list?
You must have a solicitor to complete the formalities when you require a mortgage to purchase your property. The property lawyer will conduct all the appropriate legal checks on the property, make sure that you will be registered as proprietor and ensure that all the necessary mortgage paperwork is in place. One can instruct a Cornwall lawyer of your choosing. Nevertheless, where the property lawyer selected is not a member of the lender solicitor panel further charges will be levied as separate legal representation will be need by the lender. Conveyancing panel applications may be submitted, so where your conveyancer has not previously sought membership they should take the opportunity to apply.
We're in Cornwall, First time buyers buying with a mortgage (lender is Virgin Money , and our solicitor is on the Virgin Money conveyancing panel). How long should the conveyancing process take?
The fact that your lawyer is on the Virgin Money conveyancing panel is a help. It would almost certainly delay matters if they were not. However, no solicitor should guarantee a timeframe for your conveyancing, due to third parties outside of your control such as delays caused by lenders,conveyancing search providers or by the other side’s solicitors. The time taken is often determined by the number of parties in a chain.
Various web forums that I have come across warn that are a common reason for delay in Cornwall conveyancing transactions. Is that correct?
The Council of Property Search Organisations (CoPSO) has noted the determinations of a review by MoveWithUs that conveyancing searches do not feature amongst the top 10 causes of hindrances during the legal transfer of property. Local searches are unlikely to be the root cause of slowing down conveyancing in Cornwall.
Are there restrictive covenants that are commonly picked up during conveyancing in Cornwall?
Restrictive covenants can be picked up when reviewing land registry title as part of the process of conveyancing in Cornwall. An 1874 stipulation that was seen was ‘The houses to be erected on the estate are each to be of a uniform elevation in accordance with the drawings to be prepared or approved by the vendor’s surveyor…’
Due to the advice of my in-laws I had a survey completed on a house in Cornwall prior to instructing solicitors. I have been told that there is a flying freehold overhang to the property. My surveyor has said that some banks may refuse to grant a mortgage on such a property.
It varies from the lender to lender. HSBC has different instructions from Halifax. If you call us we can look into this further with the relevant lender. If you lender is happy to lend one our lawyers can help as they are accustomed to dealing with flying freeholds in Cornwall. Conveyancing will be smoother if you use a solicitor in Cornwall especially if they are acquainted with such properties in Cornwall.
Having checked my lease I have discovered that there are only Sixty One years unexpired on my lease in Cornwall. I am keen to get lease extension but my freeholder is can not be found. What are my options?
On the basis that you qualify, under the Leasehold Reform, Housing and Urban Development Act 1993 you can apply to the County Court for for permission to dispense with the service of the initial notice. This will mean that your lease can be granted an extra 90 years by the Court. However, you will be required to demonstrate that you have done all that could be expected to find the landlord. On the whole an enquiry agent may be helpful to try and locate and prepare a report to be used as evidence that the landlord is indeed missing. It is wise to seek advice from a solicitor both on proving the landlord’s disappearance and the application to the County Court covering Cornwall.
Cornwall Conveyancing for Leasehold Flats - Sample of Questions you should consider before Purchasing
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Are there any major works anticipated that will add a premium to the maintenance costs? Make sure you enquire if the the lease contains any adverse restrictions in the lease. For instance it is reasonably common in Cornwall leases that pets are not permitted in certain buildings in Cornwall. If you like the apartmentin Cornwall yet your cat can’t move with you then you will be faced hard choice. Most Cornwall leasehold flats will incur a service charge for the upkeep of the building invoiced by the management company. Should you buy the flat you will have to pay this amount, usually in instalments throughout the year. This may be anything from a few hundred pounds to thousands of pounds for buildings with lifts and large communal areas. There will also be a ground rent to be met yearly, this is usually not a large figure, say around £50-£100 but you need to enquire as sometimes it can be many hundreds of pounds.