I have given 2 months notice to my current landlord and have to leave my let out apartment in Queensferry by the end of next month. Conveyancing for my house purchase is progressing. Can I complete in a couple of weeks as I wish to avoid having to move into temporary accommodation?
It is unwise to provide notice on a rental until exchange of contracts has taken place. If you have not previously done so, update to your conveyancer and ask them to they seek the assistance the other solicitors, try to an acceptable time-line that everyone will aim to achieve
I happen to be the sole beneficiary of my late father’s will and I have everything in my name now, including the my former home in Queensferry. The Queensferry property was put into my name in April. I plan to dispose of the house. I understand that there is a CML 6 month 'rule', meaning my proprietorship could be considered the same way as if I'd bought the property in April. Do I have to wait 6 months to sell?
The Council of Mortgage Lenders’ handbook obliges 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 might be affected by that. How practical a view banks take of it, depend on the bank as this obligation principally exists to identify subsales or the wholesaling and assigning of property.
I currently have a mortgage with Skipton for my property in Queensferry. Conveyancing has been completed 12 months ago. In the event that I decide to rent out my property and do not currently have a buy-to-let mortgage do I need to remortgage to a BTL mortgage or inform Skipton?
Skipton must be informed of your intention before letting out your property as this is likely to be a breach of Skipton’s mortgage conditions. It may be that Skipton 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 Skipton directly. You need not do this via a Skipton conveyancing panel lawyer.
Our offer on a detached house in Queensferry has been agreed to, but there is a chain. The sellers have offered on a flat, but it’s not yet tied up, and have viewings of other properties in the pipeline. I have chosen a local conveyancing solicitor in Queensferry. What should be my next step? When should I get the mortgage application with Nationwide going?
It is usual to have anxieties where there is a chain as you are unlikely to want to be too out of pocket prematurely (home loan application is approx one thousand pounds, then valuation, Queensferry conveyancing search fees, etc). The first thing to do is ensure that your conveyancing practitioner is on the Nationwide approved list. Concerning the next steps this very much dictated by the specifics of your transaction, desire for the property and on the state of the market. In a rising market some buyers will apply for the mortgage with Nationwide and pay for the valuation and only if it was satisfactory would they ask their solicitor to move forward with searches.
What will a local search reveal regarding the property my wife and I purchasing in Queensferry?
Queensferry conveyancing often starts with the ordering local authority searches directly from your local Authority or through a personal search company such as Searches UK The local search plays an important part in most Queensferry conveyancing purchase; that is if you don’t want any unpleasant once you have moved into your property. The search will provide data on, amongst other things, details on planning applications applicable to the property (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 13 subject sections.
The estate agent has sent us the confirmation of our purchase of a new build apartment in Queensferry. Conveyancing is a frightening process at the best of times but I have never purchased a new build flat before. Can you give me some examples of some of the questions asked in new build legal work.
Here is a sample of a few leasehold new build enquiries that you may expect your new-build leasehold conveyancing in Queensferry
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Please supply a car parking plan. Where there is an Undertaking being granted there is the risk of forfeiture of the Headlease subject to relief if one or more of the Underlessees are willing to accept the original Head Lessee’s obligations as otherwise relief will be denied to the Underlessees. The only alternatives are the Head Lessor agreeing not to forfeit the Headlease or the Head Lessee guaranteeing to the Underlessees that it will not be in breach of the Headlease. Where service of notices and proceedings can be at the property demised please confirm that this can be amended to include simultaneous services at the Lessees’ solicitors’ offices where the Lessee from time to time is not resident in the UK - such solicitors may be varied by notice in writing to the Landlord from time to time but otherwise will be as previously specified. There must be mutual enforceability of lessee’s covenants. The Landlord must covenant to assume the management if the Management Company goes into liquidation or otherwise defaults in running the management scheme.
I've recently found out that there is a flying freehold element on a house I have offered on two weeks back in what should have been a simple, no chain conveyancing. Queensferry is the location of the property. Can you shed any light on this issue?
Flying freeholds in Queensferry are rare but are more likely to exist in relation to terraced houses. Even where you use a solicitor outside Queensferry you must be sure that your lawyer goes through the deeds diligently. Your bank may require your conveyancing solicitor to take out an indemnity policy. Some of the more diligent conveyancing solicitors in Queensferry may ascertain 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.
Can you provide any top tips for leasehold conveyancing in Queensferry from the perspective of expediting the sale process?
- Much of the delay in leasehold conveyancing in Queensferry can be avoided if you get in touch lawyers the minute your agents start marketing the property and ask them to collate the leasehold documentation which will be required by the purchasers’ solicitors. If you have the benefit of shareholding in the Management Company, you should ensure that you have the original share certificate. Organising a new share certificate can be a time consuming process and slows down many a Queensferry home move. If a reissued share is needed, do contact the company director and secretary or managing agents (where relevant) for this sooner rather than later. In the event that you altered the property did you need the Landlord’s consent? Have you, for example laid down wooden flooring? Most leases in Queensferry state that internal structural changes or addition of wooden flooring necessitate a licence issued by the Landlord acquiescing to such changes. Should you dont have the consents in place do not contact the landlord without checking with your solicitor in the first instance. You believe that you know the number of years remaining on your lease but it would be advisable double-check via your solicitors. A purchaser's lawyer will be unlikely to recommend their client to to exchange contracts if the remaining number of years is under 80 years. In the circumstances it is essential at an as soon as possible that you consider whether the lease term for your property needs extending. If it does, contact your solicitors before you put your property on the market for sale.
I purchased a leasehold flat in Queensferry, conveyancing formalities finalised August 1998. Can you let me have an estimate of the premium that my landlord can legally expect in return for granting a renewal of my lease? Comparable flats in Queensferry with over 90 years remaining are worth £211,000. The average or mid-range amount of ground rent is £50 charged once a year. The lease terminates on 21st October 2094
With only 68 years remaining on your lease we estimate the price of your lease extension to range between £9,500 and £11,000 as well as costs.
The figure that we have given is a general guide to costs for extending a lease, but we cannot give you a more accurate figure in the absence of comprehensive due diligence. You should not use the figures in tribunal or court proceedings. There are no doubt other issues that need to be taken into account and clearly you want to be as accurate as possible in your negotiations. Neither should you move forward placing reliance on this information before seeking the advice of a professional.