Forgive me if this question is silly but I am unseasoned as a 1st time buyer of a ground floor flat in Walkden. Do I pick up the keys to the premises on the completion date from my solicitor? If this is the case, I will find a High Street conveyancing solicitor in Walkden?
There is no need to visit the lawyers office on the day of completion. Conveyancing lawyers for you will transfer the completion advance to the owner’s lawyers, and shortly after the monies have arrived, you should be called to collect the keys from the Estate Agents and start moving into the property. Usually this happens early afternoon.
The mortgage over my property is with RBS for my property in Walkden. Conveyancing has been completed some time ago. Should I wish to rent out my property and do not currently have a buy-to-let mortgage do I need to remortgage to a buy-to-let mortgage or inform RBS?
Your original mortgage agreement with RBS will provide that you need their approval prior to renting your property as this is likely to be a breach of RBS’s mortgage conditions. It may be that RBS will allow you to rent 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 RBS directly. You need not do this via a RBS conveyancing panel lawyer.
RBS have agreed my home loan in principle, my offer on a property in Walkden has been agreed to, what are the next steps?
The property agent will need to know who your solicitors are (ensure that the conveyancers are on the lender’s approved list). Contact RBS or the broker and finalise any outstanding documentation. RBS will appoint a valuer who will get in touch with the estate agent or owners to schedule a time for the valuation to occur. Once conducted (assuming no problems) it takes on average a week for the mortgage offer to be issued. RBS will send the offer to you and your conveyancers. The legal work will then take it’s course according the nature and complexity of the conveyancing in Walkden.
Various online forums that I have frequented warn that are the number one cause of hinderance in Walkden house deals. Is there any truth in this?
The Council of Property Search Organisations (CoPSO) published conclusions of a review by MoveWithUs that conveyancing searches do not feature within the common causes of hindrances during the legal transfer of property. Searches are unlikely to be the root cause of holding up conveyancing in Walkden.
Are there restrictive covenants that are commonly identified as part of conveyancing in Walkden?
Covenants that are restrictive in nature can be picked up when reviewing land registry title as part of the process of conveyancing in Walkden. 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 done on a property in Walkden in advance of instructing solicitors. I have been told that there is a flying freehold aspect to the house. Our surveyor advised that some mortgage companies may not grant a mortgage on a flying freehold house.
It depends who your proposed lender is. Santander has different instructions for example to Nationwide. If you call us we can look into this further with the appropriate bank. If you lender is happy to lend one our lawyers can assist as they are accustomed to dealing with flying freeholds in Walkden. Conveyancing can be more complicated and therefore you should check with your conveyancing solicitor in Walkden to see if the conveyancing will be more expensive.
All being well we will complete the sale of our £125,000 maisonette in Walkden on Wednesday in a week. The freeholder has quoted £396 for Landlord’s certificate, insurance certificate and previous years service charge statements. Is the landlord entitled to charge such fees for a flat conveyance in Walkden?
Walkden conveyancing on leasehold maisonettes normally necessitates the purchaser’s lawyer sending enquiries for the landlord to address. Although the landlord is not legally bound to respond to these enquiries most will be content to assist. They are at liberty to levy a reasonable charge for answering enquiries or supplying documentation. There is no set fee. The average fee for the information that you are referring to is £350, in some transactions it is above £800. The administration charge required by the landlord must be sent together with a synopsis of entitlements and obligations in relation to administration charges, without which the charge is not strictly payable. Reality however dictates that you have little option but to pay whatever is demanded should you wish to exchange contracts with the buyer.
Leasehold Conveyancing in Walkden - A selection of Questions you should consider Prior to buying
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Does the lease include onerous restrictions? Does the lease have more than 90 years left? Be sure to find out if the the lease contains any onerous restrictions in the lease. For instance plenty of leases prohibit pets being permitted in in a block in Walkden. If you like the propertyin Walkden yet your dog can’t make the move with you then you will be faced hard decision.
What is the reason for my solicitor requiring various items of ID ahead of starting selling or purchasing a property in Walkden?
Walkden solicitors are obliged by the Law Society, Solicitors Regulation Authority, HMLR and current Money Laundering legislation to certify that the have verified the identity of their clients. It is also sometimes a requirement of your mortgage offer. In addition they have to complete various forms, particularly those relating to stamp duty land tax and need to have information such as your full names, national insurance number and date of birth.