I am purchasing a house without a mortgage in Downton. I have lived for the previous twelve years in Downton. Conveyancing searches are expensive. As I know the area and road very well must I have all the conveyancing searches?
In the absence of a mortgage, then almost all of the Downton conveyancing searches are at your discretion. Your conveyancer will 'advise', perhaps strongly, that you should have searches completed, but he has a professional duty to do this. Do take into account; if you are likely to dispose of the house one day, it may be of relevance to your prospective buyer what the searches disclose. Sometimes properties with day to day issues can still throw up unpredicted search results. A competent conveyancing solicitor in Downton should provide you some practical advice concerning this.
About to place a bid on a leasehold property in Downton. The property agents assure me that it is usual for flats in Downton to have less than 75 years remaining. I am taking out a mortgage with Accord Mortgages. Will the property be mortgageable given that the lease has 69 years unexpired.
Most leasehold conveyancing experts should be able to deal with a lease extension. if you are obtaining a mortgage then your lender may insist that the lease be extended before competition. Accord Mortgages have specific requirements as set out in the UK Finance Lenders’ Handbook in relation to minimum unexpired lease terms. As of 25/4/2025 the requirements read as follows :
Do I choose a Licenced Conveyancer or Solicitor for conveyancing in Downton?
Two types of professional can execute conveyancing in Downton namely licenced conveyancers or solicitors. Both professionals administer the legal services that you need to complete the disposal or acquisition of property. They are both duty bound to handle Downton conveyancing on similar standards and guidelines so you may be safe in the knowledge that your conveyancing will be properly administered and that the requirements and steps should be suitably taken.
I am purchasing a property in Downton. One unusual aspect is that the roof has a solar panel. Co-operative have issued a mortgage offer so presumably this is not a concern to them. Why is my solicitor raising questions about the panel?
Given that your lender is Co-operative your lawyer must comply with the formal requirements outlined in Part two of UK Finance Lenders’ Handbook for Co-operative. The CML Handbook includes minimum requirements for solar panel roof-space leases, and conveyancers are required to report to Co-operative where a lease fails to meet these conditions. The provisions relate to the installation of panels on properties nationwide and is not restricted to Downton.
I can not fathom if my lender requires a lease extension. I have called into my local Downton bank branch on a couple of occasions and was advised it wasn't a problem and they will lend. My Downton conveyancing solicitor - who is on the lender conveyancing panel- telephoned to say that they refuse to lend in accordance with their UK Finance Lenders’ Handbook minimum lease term requirements. I simply don't know who is right.
Your property lawyer has to follow the CML Handbook Part 2 requirements for your 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 mortgage company to contact your lawyer in writing confirming that they will accept the number of years remaining.
I am selling my property. My former solicitors have shut. I am in need of a recommendation of a conveyancing firm. I happen to live in Downton if that affects matters.
Please use our search tool to help you find a solicitor for your conveyancing in Downton. We have connected thousands of home buyers and sellers with regulated solicitors to ensure that the legalities of their house move runs smoothly.
My husband and I are 3 weeks into a residential purchase having been directed to a firm by the estate agent to perform conveyancing in Downton. We are not happy. Could you help me find new lawyers?
They would need to be really poor in order to consider changing them. Has your loan offer been issued? In the event that it has you must inform them of the new conveyancer and have the loan are re-sent. Your new solicitor ideally needs to be on the lenders approved list to avoid added fees and delays. That should be your first question of the new conveyancers. Our find a solicitor tool will assist you in finding a bank approved conveyancer for your home move in Downton
I've recently bought a leasehold flat in Downton. Am I liable to pay service charges for periods before my ownership?
Where the service charge has already been demanded from the previous lessee and they have not paid you would not usually be personally liable for the arrears. However, your landlord may still be able to take action to forfeit the lease. It is an essential part of leasehold conveyancing for your conveyancer to ensure to have an up to date clear service charge receipt before completion of your purchase. If you have a mortgage this is likely to be a requirement of your lender.
If you purchase part way through an accounting year you may be liable for charges not yet demanded even if they relate to a period prior to your purchase. In such circumstances your conveyancer would normally arrange for the seller to set aside some money to cover their part of the period (usually called a service charge retention).
Downton Conveyancing for Leasehold Flats - A selection of Questions you should consider before Purchasing
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The majority of Downton leasehold properties will be liable to pay a service charge for the upkeep of the building set by the management company. Where you acquire the apartment you will have to pay this charge, normally in instalments throughout the year. This may differ from two or three hundred pounds to thousands of pounds for large purpose-built buildings. In all probability there will be a rentcharge for you to pay annual, this is usually not a large amount, say about £50-£100 but you should to enquire it because sometimes it could be many hundreds of pounds. Is the freehold reversion owned jointly by the tenants? Please note if it is less than 80 years it will affect the value of the flat. Check with your bank that they are willing to go ahead with the loan given the lease term. Leases with fewer than 80 years remaining means that you will almost definitely have to extend the lease sooner rather than later and it is worth discovering what this would cost. For most Downtonlease extensions you will need to own the premises for two years before you are eligible to extend the lease.