Do all mortgage companies provide you with an approved list of Cromer conveyancing solicitors? How do you know who is on the Co-operative conveyancing panel?
Cromer conveyancing firms themselves provide us confirmation that they are on the Co-operative conveyancing panel as opposed to being supplied with a list from Co-operative directly.
When it comes to mortgage companies such as Lloyds, do Cromer conveyancers face an annual charge to be on the conveyancing panel?
We are unaware of any bank fees to be on their panel, although some do charge an administration fee to deal with the processing of the conveyancing panel submission.
Last month we had a mortgage agreed in principle with Leeds Building Society. Cromer conveyancing lawyers were appointed. How long does it take for Leeds Building Society to issue the offer to the solicitor?
Some lenders take longer than others. Have Leeds Building Society conducted the survey? Have you advised Leeds Building Society as to your lawyers' details and checked that your lawyers are on the Leeds Building Society conveyancing panel? Sometimes it can take as long as six weeks for a mortgage offer to be issued.
I have a mortgage with Co-operative for my property in Cromer. Conveyancing has been completed some time ago. If I am intending 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 Co-operative?
You must advise Co-operative before letting out your property as this is likely to be a breach of Co-operative’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 Co-operative directly. You need not do this via a Co-operative conveyancing panel firm.
Are there restrictive covenants that are commonly picked up as part of conveyancing in Cromer?
Restrictive covenants can be picked up when reviewing land registry title as part of the legal transfer of property in Cromer. 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…’
I am looking for a leasehold apartment up to £235,500 and found one close by in Cromer I like with open areas and transport links nearby, the downside is that it only has 52 years unexpired on the lease. There is not much else in Cromer suitable, so just wondered if I would be making a grave error buying a short lease?
Should you need a mortgage the shortness of the lease will be problematic. Discount the price by the amount the lease extension will cost if it has not already been discounted. If the existing owner has owned the property for at least twenty four months you can ask them to commence the lease extension formalities and pass it to you. An additional ninety years can be extended on to the current lease with a zero ground rent applied. You should consult your conveyancing solicitor regarding this matter.
I need to find a conveyancing solicitor for sale conveyancing in Cromer. I have chance upon a web site which seems to have the perfect offering If it is possible to get all the legals completed via web that would be ideal. Do I need to be concerned? What are the potential pitfalls?
As usual with these online conveyancers you need to read ALL the small print - did you notice the extra charge for dealing with the mortgage?
There are only 62 years left on my flat in Cromer. I now want to extend my lease but my freeholder is absent. What options are available to me?
If you meet the appropriate requirements, under the Leasehold Reform, Housing and Urban Development Act 1993 you can submit an application to the County Court for an order 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. You will be obliged to prove that you have used your best endeavours to track down the landlord. On the whole an enquiry agent would be helpful to carry out a search and to produce a report which can be used as proof that the freeholder can not be located. It is wise to seek advice from a solicitor in relation to proving the landlord’s absence and the application to the County Court covering Cromer.
Cromer Conveyancing for Leasehold Flats - Sample of Questions you should consider Prior to buying
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This information is useful as a) areas may cause problems for the building as the communal areas may start to deteriorate if repairs remain unpaid b) if the leaseholders have an issue with the running of the building you will want to know about it Are any of leasehold owners in arrears of their service charge liability? Are there any major works in the near future that will likely increase the service costs?