I have given 8 weeks notice to my existing landlord and have to leave my let out property in Lynmouth by the end of next month. Conveyancing for my house purchase is underway. Can I complete in a couple of weeks as don't want to have to move into temporary accommodation?
Generally one should not serve notice on a rental until you have exchanged. If you have not previously done so, update to your conveyancer and request that they apply pressure on the other solicitors, try to get a realistic time scale from them that everyone will aim to achieve
I am purchasing a property in Lynmouth. A rare aspect is that the roof has a solar panel. Solicitors conducting should look into this right? Will my lender Nottingham be concerned?
As your lender is Nottingham your lawyer must comply with the formal requirements contained in Section 2 of UK Finance Lenders’ Handbook for Nottingham. The Council of Mortgage Lenders’ Handbook contains minimum provisions for solar panel roof-space leases, and conveyancing practitioners are required to report to Nottingham where a lease fails to satisfy these provisions. The requirements relate to the installation of panels on properties in England and Wales and is not limited to Lynmouth.
Completion of my remortgage has taken place for my property in Lynmouth. Conveyancing was a necessary evil but I feel I should register my dissatisfaction about the lender. How do I make a complaint?
Most lenders have complaints procedures. Your first port of call should be one of the lender’s branches or the Customer Care Team at head office. We understand that complaints to a lender are sorted out effectively and efficiently. However if you are not satisfied that the matter is not resolved you can write to Financial Ombudsman Service who will take matters further.
My sealed bid on a semi in Lynmouth has been agreed to, but there is a chain. The sellers have placed an offer on somewhere, however it’s not yet agreed to, and have viewings of other apartments in the pipeline. I have selected a local conveyancing solicitor in Lynmouth. What should be my next step? At what stage should I apply for the mortgage with Yorkshire BS?
It is usual to have anxieties where there is a chain as you are unlikely to want to be too out of pocket prematurely (mortgage application is in the region of £1k, then survey, Lynmouth conveyancing search charges, etc). First, you must check that your property lawyer is on the Yorkshire BS approved list. Regarding the subsequent stages 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 the majority of buyers will apply for a home loan with Yorkshire BS and arrange for the valuation and only if it was satisfactory would they request their lawyer to move forward with the conveyancing in Lynmouth.
Various internet forums that I have come across warn that are the main reason for delay in Lynmouth conveyancing transactions. Is this right?
The Council of Property Search Organisations (CoPSO) has noted the conclusions of a review by MoveWithUs that conveyancing searches do not figure within the top 10 causes of hindrances during the legal transfer of property. Searches are unlikely to be the root cause of slowing down conveyancing in Lynmouth.
four months have elapsed following my purchase conveyancing in Lynmouth completed. I have checked the Land Registry website which shows that I paid £150,000 when infact I paid £170,000. Why the discrepancy?
The price paid figure is taken from the application to register the purchase. It is the figure included in the Transfer (the legal deed which transfers the residence from one person to the other) and referred to as the 'consideration' or purchase price. You can report an error in the price paid figure using the LR online form. In most cases errors result from typos so at first glance the figure. Do report it so they can double check and advise.
Yesterday I discovered that there is a flying freehold issue on a house I put an offer in a fortnight ago in what should have been a quick, no chain conveyancing. Lynmouth is where the house is located. What do you suggest?
Flying freeholds in Lynmouth are not the norm but are more likely to exist in relation to terraced houses. Even where you use a solicitor outside Lynmouth you must be sure that your lawyer goes through the deeds diligently. Your mortgage company may require your conveyancing solicitor to take out an indemnity policy. Some of the more diligent conveyancing solicitors in Lynmouth 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 premises.
What makes a Lynmouth lease unmortgageable?
Leasehold conveyancing in Lynmouth is not unique. Most leases are individual and legal mistakes in the legal wording can sometimes mean that certain provisions are not included. The following missing provisions could result in a defective lease:
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A provision to repair to or maintain parts of the property
You could have a problem when selling your property if you have a defective lease primarily because it impacts on the ability to obtain a mortgage on the property. Barclays , Leeds Building Society, and Alliance & Leicester all have very detailed conveyancing instructions when it comes to what is expected in a lease. Where a lender has been advised by their lawyers that the lease is defective they may refuse to grant the mortgage, forcing the purchaser to pull out.
Lynmouth Conveyancing for Leasehold Flats - A selection of Questions you should consider before buying
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Is anyone aware of any major works on the horizon that could add a premium to the maintenance fees? Most Lynmouth leasehold properties will be liable to pay a service bill for maintenance of the block levied by the landlord. Where you purchase the flat you will have to pay this amount, normally periodically throughout the year. This can be anything from two or three hundred pounds to thousands of pounds for large purpose-built blocks. In all probability there will be a rentcharge to be met annual, this is usually not a significant figure, say around £50-£100 but you should to check it because sometimes it can be prohibitively expensive. How is the lease structured?