I am about to put an offer on a leasehold property in Axmouth and Branscombe. The property agents tell me that it is normal for flats in Axmouth and Branscombe to have less than 75 years remaining. I am obtaining a loan with Virgin. Is this going to be acceptable if the lease has 69 years remaining.
Most leasehold conveyancing experts should be able to deal with a lease extension. if you are securing a mortgage then your lender may insist that the lease be extended before competition. Virgin have specific requirements as set out in the UK Finance Lenders’ Handbook in relation to minimum unexpired lease terms. As of 18/9/2022 the requirements read as follows :
This question may be naive but I am unseasoned as a first time purchaser of a garden flat in Axmouth and Branscombe. Do I collect the keys to the property on the completion date from my solicitor? If so, I will appoint a local conveyancing solicitor in Axmouth and Branscombe?
There is no need to visit the lawyers office on the day of completion. Your solicitors will transfer the completion advance to the vendor’s lawyers, and once they have received this, you will be able to collect the keys from the Estate Agents and start moving into the property. This tends to happen early afternoon.
I'm the single beneficiary of my late grandmother’s will with all property in now in my sole name, including the house in Axmouth and Branscombe. Conveyancing formalities meant that the Land Registry date was in August. I plan to dispose of the house. I understand that there is a CML six month 'rule', meaning my property ownership may be considered the same way as though I had purchased the property in August. Is the property unsalable for six months?
The Council of Mortgage Lenders’ handbook mandates 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 sensible a view banks take of it, depend on the mortgage company as this provision is chiefly there to capture the purchase and immediately sell or the quick reselling of property.
I recently had an offer accepted on an apartment in Axmouth and Branscombe. My financial adviser recommended their conveyancers. I paid an advanced payment of £200. Shortly after, the property lawyer contacted me embarrassingly acknowledging that they were not on the Skipton conveyancing panel. Am I right in thinking that I should be due a refund?
You should be able to recover this from the law firm if they were not on the Skipton panel. They should have asked at the outset which lender you were obtaining a mortgage with. An important lesson to readers of this site is to check that the lawyers are on the appropriate lender panel.
Just had an offer accepted on a new build flat in Axmouth and Branscombe. Conveyancing is a frightening process at the best of times but I have never purchased a new build flat before. What sort of enquires would be asked in new build conveyancing.
Here is a sample of a selection of leasehold new build enquiries that you can expect your new-build leasehold conveyancing in Axmouth and Branscombe
There must be mutual enforceability of lessee’s covenants. 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. Please confirm the Lease plans are surveyor prepared. Investor purchasers must be able to freely grant unsecured tenancies at market rents without requiring any consents. Please supply a car parking plan.
I've recently found out that there is a flying freehold element on a house I have offered on two weeks back in what was supposed to be a straight forward, chain free conveyancing. Axmouth and Branscombe is where the house is located. Can you shed any light on this issue?
Flying freeholds in Axmouth and Branscombe are rare but are more likely to exist in relation to terraced houses. Even where you use a solicitor outside Axmouth and Branscombe you would need to get your solicitor to go through the deeds very carefully. Your bank may require your conveyancing solicitor to take out an indemnity policy. Some of the more diligent conveyancing solicitors in Axmouth and Branscombe may determine 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 property.
I am selling my property. My past conveyancers has retired. It would be helpful to have a recommendation of a conveyancing firm. Im based in Axmouth and Branscombe if that affects matters.
You should use our search tool to help you choose a solicitor for your conveyancing in Axmouth and Branscombe. We have connected thousands of home buyers and sellers with regulated solicitors to ensure that the legalities of their house move goes smoothly.