I am soon to complete on the purchase of a house in Ireleth and Askam but as a result of wreckage from the recent storms I have managed to agree recompense from the owner in the sum of £3k by way of a deduction in the price. This was going to be dealt with as part of the conveyancing process but RBS are not allowing this. Why were they informed?
Your conveyancing practitioner being on a RBS conveyancing panel is required to disclose to RBS of any changes to the purchase price. If you prohibit your solicitor to report the reduction to RBS then they would have to discontinue acting for you. In addition, RBS and you would have to appoint a new solicitor for your conveyancing in Ireleth and Askam.
I am the single recipient of my late father’s will and I have everything in my name now, including the my former home in Ireleth and Askam. The Ireleth and Askam property was put into my name in November. I now wish to sell up. I understand that there is a Mortgage Lenders six month 'rule', meaning my proprietorship will be regarded the same way as if I'd bought the house in November. Do I have to wait 6 months to sell?
The Council of Mortgage Lenders’ handbook requires 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 sensible a view lenders take of it, depend on the mortgage company as this provision principally exists to identify the purchase and immediately sell or the flipping of property.
We previously instructed conveyancing lawyers locally in Ireleth and Askam on the Yorkshire BS solicitor panel. They have just invoiced me a separate fee for handling the Yorkshire BS mortgage. Is this an additional conveyancing fee specified by Yorkshire BS?
Unfortunately, so long as it is in their Terms and Conditions or estimate then yes your conveyancer is entitled to levy a fee for this. This charge is not set by Yorkshire BS but by your Ireleth and Askam property lawyer. Some firms on the Yorkshire BS panel will quote ’dealing with mortgage’ fee and others do not.
I have today made my last payment due on my mortgage with Co-operative. I assume I don't need a Ireleth and Askam lawyer on the Co-operative panel to discharge the mortgage at the Land Registry. Please confirm.
If you have finished paying off your Co-operative 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 Co-operative mortgage from the register. Co-operative, 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 Co-operative has sent the Land Registry the discharge electronically, and
- Co-operative has instructed the Land Registry to do so
I have been told that property searches are the main reason for stalling in Ireleth and Askam house deals. Is that correct?
The Council of Property Search Organisations (CoPSO) published determinations of a review by MoveWithUs that conveyancing searches do not feature amongst the most frequent causes of hindrances in the conveyancing process. Local searches are not likely to feature in any delay in conveyancing in Ireleth and Askam.
Are there restrictive covenants that are commonly identified as part of conveyancing in Ireleth and Askam?
Restrictive covenants can be picked up when reviewing land registry title as part of the legal transfer of property in Ireleth and Askam. 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 opted to have a survey carried out on a property in Ireleth and Askam in advance of appointing lawyers. I have been advised that there is a flying freehold aspect to the property. My surveyor advised that some banks tend refuse to grant a loan on a flying freehold home.
It depends who your proposed lender is. HSBC has different requirements for example to Nationwide. If you e-mail us we can look into this further via the appropriate mortgage company. If you lender is happy to lend one our lawyers can help as they are used to dealing with flying freeholds in Ireleth and Askam. Conveyancing may be slightly more expensive based on your lender's requirements.
I have just started marketing my ground floor flat in Ireleth and Askam. Conveyancing has not commenced, however I have recently received a yearly maintenance charge invoice – Do I pay up?
The sensible thing to do is discharge the maintenance contribution as usual as all rents and maintenance payments will be apportioned on completion, so you should recover the relevant percentage by the buyer for the period running from after the completion date to the subsequent invoice date. Most managing agents will not acknowledge the buyer unless the service charges have been paid and are up to date, so it is important for both buyer and seller for the seller to show that they are up to date. Having a clear account will assist your cause and will leave you no worse off financially.
Ireleth and Askam Conveyancing for Leasehold Flats - Examples of Questions you should ask Prior to Purchasing
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What prohibitions exist in the Ireleth and Askam Lease? For many Ireleth and Askam leaseholds the outlay for major works are not incorporated into the service charges, although a few managing agents in Ireleth and Askam require leaseholders to contribute towards a reserve fund created for the specific purpose of establishing a fund for larger repairs or maintenance.