I have given 8 weeks notice to my existing landlord and must be out of my let out flat in Oswestry by the end of next month. Conveyancing on my purchase has just started. Can I complete in 5 weeks as I wish to avoid having to find temporary accommodation?
Generally one should not provide notice for your letting unless your lawyer suggests that you should. Assuming that you have not already done so, notify to your solicitor and request that they seek the assistance the other side, try to an acceptable time-line that everyone will look towards
Do banks and building societies provide you with an approved list of Oswestry conveyancing solicitors? How do you know who is on the Yorkshire BS conveyancing panel?
Oswestry conveyancing firms themselves provide us confirmation that they are on the Yorkshire BS conveyancing panel as opposed to being supplied with a list from Yorkshire BS directly.
Are the BSA planning on creating a search tool with a view to to identify practices on the Earl Shilton BS conveyancing panel for example in Oswestry?
We have not been informed any intention on the part of the BSA to promote such a tool.
Forgive me if this question is silly but I am new to the process as FTB of a garden flat in Oswestry. Do I collect the keys to the premises on completion from my lawyer? If so, I will use a High Street conveyancing solicitor in Oswestry?
There is no need to visit the lawyers office on the day of completion. Your solicitors will transfer the completion advance to the seller's solicitors, and once they have received this, you should be able to collect the keys from the property Agents and start moving into the property. Usually this happens early afternoon.
I have paid off my mortgage with RBS. I assume I don't need a Oswestry lawyer on the RBS panel to remove the mortgage at the Land Registry. Am I right?
If you have finished paying off your RBS 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 RBS mortgage from the register. RBS, 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 RBS has sent the Land Registry the discharge electronically, and
- RBS has instructed the Land Registry to do so
It is unclear whether my mortgage offer requires a lease extension. I have telephoned my Oswestry building society branch on numerous occasions and was told they are content with the situation and they would lend. My Oswestry conveyancing solicitor - who is on the bank conveyancing panel- telephoned to say that they refuse to lend based on their UK Finance Lenders’ Handbook minimum lease term requirements. I have no idea who is right.
The conveyancer must follow the Council of Mortgage Lenders’ Handbook section two conditions for your bank. Unless your lawyer obtains specific confirmation in writing that the bank 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 left on the lease.
I have been on the look out for a ground for flat up to £245,000 and found one near me in Oswestry I like with amenity areas and station in the vicinity, the downside is that it's only got 51 years unexpired on the lease. There is not much else in Oswestry in this price bracket, so just wondered if I would be making a mistake buying a lease with such few years left?
Should you require a mortgage the remaining unexpired lease term will be an issue. Reduce the price by the expected lease extension will cost if it has not already been discounted. If the current owner has owned the premises for at least twenty four months you could ask them to commence the lease extension formalities and then assign it to you. An additional ninety years can be extended on to the current lease term and have £0 ground rent by law. You should consult your conveyancing lawyer regarding this.
I'm refinancing my primary house to a buy to let mortgage with Chelsea Building Society and I will use the rest of the raised equity as a deposit on another house. The neighborhood we are interested in is Oswestry. Will your lawyers be able to act for both sets of banks and link together the two deals?
Do use our search tool on this page to be sure that the solicitors are approved by both banks. Having checked that they are your lawyer should be able to tie up the two transactions but you should have a chat with you lawyer and make apparent your desired outcome and requirements.