Me and my partner are soon to complete buying a property in Cross Hands but as a result of damage from a small fire at the property I have was able negotiate recompense from the current proprietors of £2k taking the form of a adjustment in the price. This was going to be dealt with as part of amending the contract yet Co-operative are not allowing this. Why were they involved?
Your solicitor that is on the Co-operative conveyancing panel is obliged to disclose to Co-operative of any amendments to the sale price. If you prohibit your conveyancer to disclose the price change to Co-operative then they would have to discontinue acting for you. In addition, Co-operative and you would have to appoint a new conveyancing practitioner for your conveyancing in Cross Hands.
I have an AIP. The bank mentioned the loan came with free conveyancing. Is the implication that I have to use their panel lawyer as I would much rather instruct a Cross Hands based conveyancing firm?
Do check but the chances are that appoint one of their panel conveyancers should you take up the "fee-free" deal. Speak to the lender and see if they make available a cash alternative. It is not unheard for a lender to give a £250 cashback as an alternative in which case you could put that amount towards your preferred conveyancing solicitor near Cross Hands.
I had a mortgage agreed in principle with Clydesdale. Cross Hands conveyancing practitioners are instructed. What is the average time that one could expect to receive a mortgage offer from Clydesdale?
There is no definitive answer here. Have Clydesdale done the survey? Have you informed Clydesdale as to your lawyers' details and checked that your lawyers are on the Clydesdale conveyancing panel? Sometimes it can take as long as six weeks for a mortgage offer to be issued.
I can not fathom if my lender requires a lease extension. I have called my Cross Hands bank branch on various occasions and was reassured it wasn't a problem and they would lend. My Cross Hands conveyancing solicitor - who is on the mortgage company conveyancing panel- called and was told they refuse to lend based on their UK Finance Lenders’ Handbook minimum lease term requirements. Who do I believe?
As long as the conveyancer is on the lender panel, she or he must follow the Council of Mortgage Lenders’ Handbook provisions for the bank. Unless your lawyer obtains specific confirmation in writing that the mortgage company will go ahead, your lawyer has no choice but to refrain from exchanging contract and committing you to the purchase. We would suggest that you ask the lender to contact your lawyer in writing confirming that they will accept the number of years remaining.
My sealed bid on a house in Cross Hands has been accepted, the vendors do however have a dependent purchase. The vendors have put an offer on a flat, but it’s not yet agreed to, and have viewings of other apartments booked. I have instructed a high street conveyancing solicitor in Cross Hands. What should be my next step? When should I get the mortgage application with Virgin Money going?
It is understandable to have concerns where there is a chain as you are unlikely to want to incur costs too early (home loan application is approx £1k, then survey, Cross Hands conveyancing search charges, etc). The first course of action is to check that your lawyer is on the Virgin Money conveyancing panel. Regarding the next steps this very much depends on the uniqueness of your transaction, motivation for this property and on the state of the market. In a buoyant market many purchasers will apply for the mortgage with Virgin Money and arrange for the valuation and only if it comes back ok would they pay their conveyancing practitioner to press on with the conveyancing in Cross Hands.
Me and my brother own a renovated Victorian house in Cross Hands. Conveyancing practitioner acted for me and Halifax. I did a free Land Registry search last week and there are a couple of entries: the first freehold, another for leasehold with the matching address. I thought I was buying a freehold how can I check?
You need to read the Freehold register you have again and check the Charges Register as there may be mention of a lease. The best way to be sure that you are also the registered owner of the leasehold and freehold title as well is to check (£3). It is not completely unheard of in Cross Hands and other locations in 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 buyers. You can also enquire as to the position with your conveyancing solicitor who conducted the conveyancing.
I've recently found out that there is a flying freehold issue on a house I put an offer in two weeks back in what should have been a simple, no chain conveyancing. Cross Hands is where the house is located. What do you suggest?
Flying freeholds in Cross Hands are not the norm but are more likely to exist in relation to terraced houses. Even where you use a solicitor outside Cross Hands you would need to get your solicitor to go through the deeds thoroughly. Your lender may require your conveyancing solicitor to take out an indemnity policy. Some of the more diligent conveyancing solicitors in Cross Hands 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 property.
I am intending to let out my leasehold apartment in Cross Hands. Conveyancing solicitor who did the purchase is retired - so can't ask him. Do I need to ask my freeholder for their consent?
Even though your previous Cross Hands conveyancing solicitor is not available you can check your lease to check if you are permitted to let out the property. The rule is that if the deeds are non-specific, subletting is permitted. Quite often there is a prerequisite that you are obliged to seek permission from your landlord or some other party before subletting. This means that you cannot sublet without first obtaining consent. The consent must not not be unreasonably turned down. If your lease does not allow you to sublet you will need to ask your landlord for their consent.
I invested in buying a ground floor flat in Cross Hands, conveyancing having been completed in 1995. Can you let me have an estimated range of the fair premium for a lease extension? Comparable properties in Cross Hands with an extended lease are worth £211,000. The ground rent is £45 invoiced annually. The lease finishes on 21st October 2092
With only 67 years remaining on your lease we estimate the premium for your lease extension to span between £10,500 and £12,000 as well as costs.
The figure above a general guide to costs for extending a lease, but we are not able to supply the actual costs in the absence of detailed due diligence. You should not use this information in a Notice of Claim or as an informal offer. There are no doubt additional issues that need to be taken into account and clearly you want to be as accurate as possible in your negotiations. You should not move forward based on this information without first getting professional advice.