I'm the sole beneficiary of my late father’s estate with all property in now in my sole name, including the house in Horfield. Conveyancing formalities meant that the Land Registry date was in April. I want to move. I do know about the CML six month 'rule', which means that my proprietorship may be considered the same way as if I'd bought the property in April. Will no one buy the property for half a year?
The Council of Mortgage Lenders’ handbook instructs solicitors to: "report to us immediately if the owner or registered proprietor has been registered for less than six months." By the strict wording you might be impacted by that. How practical a view mortgage companies take of it, depend on the mortgage company as this provision primarily exists to identify the purchase and immediately sell or the wholesaling and assigning of properties.
When it comes to lenders such as RBS, do Horfield lawyers face a fee to be on the list of approved solicitors?
We are not aware of any lender fees to register on their list of approved firms, although some do levy an administration charge to deal with the processing of the conveyancing panel submission.
My wife and I are spending time viewing flats in Horfield and I am about to put in an offer. Is it wise to have my property lawyer on ‘stand by’? I am planning to take a home loan with Leeds Building Society.
You should start requesting conveyancing quotes from solicitors ASAP. After you have chosen your lawyer and once your offer is accepted you can instruct them to work for you and pass their contact information on to the EA. Given that you are seeking a mortgage with Leeds Building Society, ask your prospective lawyers if they are on the Leeds Building Society conveyancing panel otherwise they can't do the mortgage legal work.
What will a local search inform me regarding the house my wife and I buying in Horfield?
Horfield conveyancing often starts with the applying for local authority searches directly from your local Authority or via a personal search organisations for instance Searches UK The local search is essential in every Horfield conveyancing purchase; as long as you don’t want any unpleasant surprises after you move into your property. The search will supply data on, amongst other things, details on planning applications relevant to the premises (whether granted or refused), building control history, any enforcement action, restrictions on permitted development, nearby road schemes, contaminated land and radon gas; in all a total of thirteen subject headings.
Are there restrictive covenants that are commonly picked up during conveyancing in Horfield?
Restrictive covenants can be picked up when reviewing land registry title as part of the legal transfer of property in Horfield. 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 a fortnight into a residential purchase having been directed to solicitors by the estate agent to handle our conveyancing in Horfield. We are not happy. Could you you assist me in finding new conveyancers?
They would have to be really poor in order to consider changing them. Has the loan offer been generated? If so you must advise them of the new contact details and have the loan are issued to the new lawyers. Your solicitor ideally needs to be on the banks approved list to avoid supplemental fees and complications. That should be your first question of the new conveyancers. The search tool should help you find a lender approved conveyancer for your conveyancing in Horfield
I only have Sixty One years remaining on my lease in Horfield. I now wish to extend my lease but my freeholder is missing. What options are available to me?
If you meet the appropriate requirements, under the Leasehold Reform, Housing and Urban Development Act 1993 you can apply to the County Court for an order to dispense with the service of the initial notice. This will enable the lease to be granted an extra 90 years by the magistrate. However, you will be required to prove that you have used your best endeavours to track down the lessor. In some cases an enquiry agent may be useful to try and locate and prepare an expert document to be accepted by the court as evidence that the freeholder is indeed missing. It is wise to seek advice from a property lawyer in relation to investigating the landlord’s disappearance and the application to the County Court overseeing Horfield.
I acquired a 1st floor flat in Horfield, conveyancing having been completed 6 years ago. Can you shed any light on how much the price could be for a 90 year extension to my lease? Similar properties in Horfield with an extended lease are worth £191,000. The ground rent is £55 invoiced every year. The lease runs out on 21st October 2078
You have 53 years remaining on your lease we estimate the premium for your lease extension to range between £27,600 and £31,800 plus legals.
The figure above a general guide to costs for extending a lease, but we are not able to advice on the actual costs in the absence of detailed due diligence. You should not use this information in tribunal or court proceedings. There may be additional concerns that need to be considered and clearly you should be as accurate as possible in your negotiations. Please do not move forward placing reliance on this information without first getting professional advice.
We have AIP from HSBC Bank who suggested that they will loan up to £400k. When do I need to appoint a practitioner for conveyancing? Horfield is where we plan to move to.
You can instruct a solicitor now requesting that they generate a file on your behalf. This will facilitate: 1) the estate agent to issue a Sales Memo to the relevant parties 2) the seller’s conveyancer to submit the draft paperwork. That being said, do not instruct your property lawyer to order searches until you receive your valuation report from HSBC Bank and you are content to proceed.