I am the only beneficiary of my late father’s will and I have everything in my name alone, including the my former home in Cranleigh. The Cranleigh property was put into my name in August. I want to move. I understand that there is a Mortgage Lenders six month 'rule', meaning my property ownership may be considered the same way as if I'd bought the property in August. Do I have to wait half a year to sell?
The Council of Mortgage Lenders’ handbook requires conveyancers to: "report to us immediately if the owner or registered proprietor has been registered for less than six months." Technically you could be impacted by that. Some mortgage companies would take a pragmatic view as this obligation is principally there to pick up on the purchase and immediately sell or the flipping of property.
I am purchasing a property in Cranleigh. An unusual aspect is that the roof has a solar panel. Solicitors conducting should look into this right? Will my lender Kent Reliance be concerned?
Given that you are obtaining a mortgage with Kent Reliance your lawyer must follow the conveyancing instructions outlined in Section 2 of UK Finance Lenders’ Handbook for Kent Reliance. The Council of Mortgage Lenders’ Handbook contains minimum conditions for solar panel roof-space leases, and solicitors are required to report to Kent Reliance where a lease does not comply with these provisions. The conditions relate to the installation of panels on properties countrywide and is not restricted to Cranleigh.
My fiancee and I are at the point of looking at houses in Cranleigh and I am now considering a potential offer. Is it too early to have a solicitor in place? I intend to finance via a mortgage with Santander.
You should start requesting conveyancing estimates from solicitors ASAP. Once you decide who you want to use and once your offer is accepted you can instruct them to work for you and pass their details on to the estate agent. Given that you are seeking a mortgage with Santander, make sure you remember to check that your lawyer is on the Santander conveyancing panel.
Should our lawyer be making enquiries concerning flooding during the conveyancing in Cranleigh.
Flooding is a growing risk for lawyers carrying out conveyancing in Cranleigh. There are those who buy a house in Cranleigh, fully aware that at some time, it may suffer from flooding. However, leaving to one side the physical destruction, if a house is at risk of flooding, it may be difficult to get a mortgage, suitable building insurance, or dispose of the premises. Steps can be carried out during the course of a property purchase to forewarn the purchaser.
Conveyancers are not qualified to give advice on flood risk, however there are a number of searches that can be initiated by the buyer or on a buyer’s behalf which can give them a better appreciation of the risks in Cranleigh. The standard information supplied to a purchaser’s solicitor (where the Conveyancing Protocol is adopted) contains a standard inquiry of the seller to discover if the premises has ever been flooded. In the event that flooding has previously occurred and is not notified by the seller, then a purchaser could commence a legal claim for losses stemming from an misleading reply. The buyer’s lawyers may also carry out an enviro report. This will indicate if there is any known flood risk. If so, more detailed inquiries should be made.
Me and my brother purchased a 4 bedroom Victorian property in Cranleigh. Conveyancing lawyer acted for me and Norwich and Peterborough Building Society. I did a free Land Registry search last week and I saw two entries: the first freehold, the second leasehold with the matching address. If a house is not a freehold shouldn't I have been informed?
You should read the Freehold register you have again and check the Charges Register for mention of a lease. The best way to be sure that you are also the registered proprietor of the leasehold and freehold title as well is to check (£3). It is not completely unheard of in Cranleigh and other areas of the country and poses no real issues for owners other than when they remortgage they have to account for both freehold and leasehold interests when dealing with mortgage companies. You can also check the position with the conveyancing practitioner who conducted the purchase.
I opted to have a survey carried out on a house in Cranleigh prior to retaining lawyers. I have been advised that there is a flying freehold element to the house. My surveyor has said that some lenders tend refuse to give a mortgage on this type of premises.
It depends who your proposed lender is. Santander has different requirements for example to Nationwide. Should you wish to telephone us we can look into this further via the appropriate mortgage company. If you lender is happy to lend one our lawyers can help as they are accustomed to dealing with flying freeholds in Cranleigh. Conveyancing will be smoother if you use a solicitor in Cranleigh especially if they are accustomed to such properties in Cranleigh.
I am using a search engine for the phrase on line conveyancing in Cranleigh it shows results of numerous solicitorsin the vicinity. With so much choice what is the best way to find the right property lawyer for my move?
The best method of finding the right conveyancer is through a trusted testimonial, so ask friends and relatives who have purchased a property in Cranleigh or a reputable estate agent or financial adviser. Charges for conveyancing in Cranleigh differ, so it's advisable to request at least four fee calculations from varying types of law firms. Be sure to secure confirmation what costs in the quote includes.
Do you have any advice for leasehold conveyancing in Cranleigh with the intention of expediting the sale process?
- Much of the frustration in leasehold conveyancing in Cranleigh can be reduced if you instruct lawyers as soon as your agents start marketing the property and request that they start to put together the leasehold documentation needed by the purchasers’ conveyancers. Some Cranleigh leases require Licence to Assign from the landlord. If this is the case, you should notify your estate agents to make sure that the purchasers obtain bank and professional references. Any bank reference should make it clear that the buyer is financially capable of paying the annual service charge and the actual amount of the service charge should be quoted in the bank’s letter. You will therefore need to provide your estate agents with the actual amount of the service charge so that they can pass this information on to the purchasers or their solicitors. The majority of landlords or Management Companies in Cranleigh levy fees for providing management packs for a leasehold premises. You or your lawyers should enquire as to the actual amount of the charges. The management pack can be applied for as soon as you have a buyer, thus reducing delays. The typical amount of time it takes to obtain the necessary information is three weeks. It is the most common cause of delay in leasehold conveyancing in Cranleigh. If you have the benefit of shareholding in the Management Company, you should ensure that you are holding the original share document. Organising a re-issued share certificate is often a lengthy formality and slows down many a Cranleigh conveyancing transaction. Where a reissued share is necessary, do contact the company director and secretary or managing agents (where applicable) for this sooner rather than later.
Cranleigh Leasehold Conveyancing - Examples of Queries Prior to buying
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How long is the Lease? For most Cranleigh leaseholds the outlay for major works tend not to be built into the service charges, although there some managing agents in Cranleigh require leaseholders to contribute towards a sinking fund and this is used to offset against larger repairs or maintenance. Most Cranleigh leasehold properties will be liable to pay a service charge for the upkeep of the building levied by the landlord. Where you buy the apartment you will have to pay this contribution, usually periodically during the year. This can be anything from two or three hundred pounds to thousands of pounds for buildings with lifts and large communal areas. In all likelihood there will be a ground rent to be met annual, ordinarily this is not a significant figure, say approximately £25-£75 but you should to enquire it because on occasion it can be many hundreds of pounds.