I have given 2 months notice to my current landlord and have to vacate my rented property in Hampshire by the end of next month. Conveyancing on my purchase is underway. Can I complete in a couple of weeks as don't want to have to move into temporary accommodation?
It is unwise to serve notice on a rental unless you have exchanged. If you have not already done so, update to your lawyer and ask them to they apply pressure on the other solicitors, try to get a realistic time scale from them that all parties will look towards
I'm the only beneficiary of my late mum's will and I have everything in my name now, including the my former home in Hampshire. Conveyancing formalities meant that the Land Registry date was in January. I now wish to sell up. I do know about the CML six month 'rule', meaning my property ownership will be considered the same way as if I'd bought the house in January. Is the property unsalable for six months?
The CML handbook mandates conveyancers to: "report to us immediately if the owner or registered proprietor has been registered for less than six months." By the strict wording you could be impacted by that. Some mortgage companies would take a pragmatic view as this clause chiefly exists to identify subsales or the quick reselling of property.
I have today made my last payment due on my mortgage with Coventry BS. I assume I don't need a Hampshire property lawyer on the Coventry BS panel to discharge the mortgage at the Land Registry. Please confirm.
If you have finished paying off your Coventry BS mortgage, they may send you evidence showing that you have paid it off. Alternatively they may notify the Land Registry directly. The Land Registry need to see this evidence before they will remove the Coventry BS mortgage from the register. Coventry BS, and any evidence they send you, will determine the action you need to take. In cases where no conveyancer is acting for you and you have paid off your mortgage:
- but are not moving to another property
- where Coventry BS has sent the Land Registry the discharge electronically, and
- Coventry BS has instructed the Land Registry to do so
The mortgage over my property is with Kent Reliance for my property in Hampshire. Conveyancing has been completed some time ago. If I am intending to rent out the flat and do not currently have a buy-to-let mortgage do I need to remortgage to a buy-to-let mortgage or inform Kent Reliance?
Kent Reliance must be informed of your intention prior to renting your property as this is likely to be a breach of Kent Reliance’s mortgage conditions. It may be that Kent Reliance 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 Kent Reliance directly. It should not be necessary to do this via a Kent Reliance conveyancing panel lawyer.
Do commercial conveyancing searches disclose planned roadworks that may affect a commercial land in Hampshire?
Many commercial conveyancing solicitors in Hampshire will conduct a SiteSolutions Highways report as it dramatically cuts the time that conveyancers invest in sourcing accurate data on highways that impact buildings and development assets in Hampshire. The report sets out definitive data on the adoption status of roads, footpaths and verges, as well as the implication of traffic schemes and the rights of way surrounding a commercial development sites in Hampshire.
For every commercial conveyancing transaction in Hampshire it is critical to investigate the adoption status of roads surrounding a site. The absence of identifying developments where adoption procedures have not been addressed adequately may cause delays to Hampshire commercial conveyancing deals as well as pose a risk to future plans for the site. These searches are not conducted for residential conveyancing in Hampshire.
I am buying a new build house in Hampshire with a loan from Norwich and Peterborough Building Society. The builders would not move on the price so I negotiated 6k of additionals instead. The house builders rep advised me not inform my solicitor about this deal as it could impact my mortgage with the lender. Should I keep quiet?.
All lenders require a Disclosure of Incentives Form from the developer of any new build, converted or renovated property, It is available online from the Lenders’ Handbook page on the CML website. CML form is completed and handed to the lender's surveyor when the inspection is done.
Lenders have different policies on incentives. Some accept none at all, cash or physical, while others will accept cash incentives up to 5%.
Hard to understand why the representative of a builder would be suggesting you withold information from a solicitor when all this will be clearly visible on forms the builder has to supply to its solicitor, the buyer's solicitor and the surveyor.
I need to retain a conveyancing solicitor for purchase conveyancing in Hampshire. I've land on a site which appears to be the ideal offering If it is possible to get all the legals done via email that would be ideal. Do I need to be concerned? What should out be looking out for?
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?
I am looking at a two flats in Hampshire both have about fifty years unexpired on the leases. Will this present a problem?
A lease is a legal document that entitles you to use the property for a prescribed time frame. As the lease shortens the value of the lease decreases and results in it becoming more expensive to extend the lease. For this reason it is advisable to increase the term of the lease. Sometimes it is difficult to sell a property with a short lease as mortgage companies may be reluctant to lend money on properties of this type. Lease enfranchisement can be a protracted process. We advise that you get professional assistance from a conveyancer and surveyor with experience in this arena.
Leasehold Conveyancing in Hampshire - A selection of Queries Prior to Purchasing
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Does the lease include onerous restrictions? Where a Hampshire lease has fewer than 80 years it will affect the marketability of the flat. Check with your bank that they are happy with residual term of the lease. A short lease means that you will probably have to extend the lease sooner rather than later and it is worth finding out how much this would cost. For most Hampshirelease extensions you would be required to have been the owner of the residence for 24 months before you are entitled to extend the lease. You will want to discover as much as you can about the company managing the block as they can either make your living at the property much simpler or much more difficult. As the owner of a leasehold property you are often at the mercy of the managing agents both financially and when it comes to every day issues such as the cleanliness of the communal areas. Enquire of other people what they think of their management. On a final note, be sure you discover the dates that you are obliged pay the service charge to the appropriate party and specifically what you get for your money.