We are a couple about to exchange contracts for a leasehold flat in Boldon Colliery. We have hit a snag. Our loan offer with Nationwide Building Society runs out on 3/9/2020 but the vendors are putting forward a completion date of 7/9/2020. Can one prolong the mortgage expiry date?
The best person to deal with your issue is your solicitors who will assess if they better off negotiating with the bank, seller’s lawyers, property agents or conceivably all parties given the circumstances your house move as of today.
Have just purchased a repossessed house at auction in Boldon Colliery. Conveyancing is required. What happens now?
Having legally committed yourself to purchase you will need to hire the services of a conveyancing practitioner quickly as you will have a fast approaching a drop dead date to complete the conveyancing. Every auction property will have a corresponding auction set of papers. This will likely include evidence of title and search results. If you have purchased leasehold property the legal pack should provide a copy of the lease, management information and a sellers leasehold information form and other conveyancing documentation relating to leasehold premises. You should pass this on to the conveyancer working for you at the earliest opportunity. Do make sure that you have funds in place to complete the transaction on the set completion date.
Is it the case that all Boldon Colliery solicitors on the Nationwide conveyancing panel are overseen by the SRA?
As a firm of solicitors, in order to be on the Nationwide conveyancing panel they would need to be regulated by the SRA. Some mortgage companies do allow licenced conveyancers on their panel in which case such practice would be governed by the Council of Licensed Conveyancers.
I had an offer accepted on a house in Boldon Colliery on 22/5/2020, valuation was booked 2 days later, received a clean bill of health. Conveyancer retained, so all that was missing was my mortgage offer. Having made daily calls to Kent Reliance and chasing them on my offer, I have now been told that my offer will not be issued unless the lawyer is on the Kent Reliance conveyancing panel. Can the lender hold off the offer?
A lender would not issue a mortgage until they have details of a lawyer on their panel. It can take a few weeks for Kent Reliance to deal with your lawyer's application to be on the Kent Reliance conveyancing panel. There's no guarantee that your solicitor will be accepted.
Are there restrictive covenants that are commonly identified as part of conveyancing in Boldon Colliery?
Covenants that are restrictive in nature can be picked up when reviewing land registry title as part of the process of conveyancing in Boldon Colliery. 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'm converting the mortgage on my current home to a BTL loan with Bank of Ireland and I will use the ballance of the raised equity as a deposit on further property. The location we are talking about is Boldon Colliery. Will your lawyers be able to act for the two lenders and link together the two deals?
Make use of our search tool on this page to check that the conveyancers are on the appropriate lender panels. Assuming that they are your lawyer should be able to connect the two transactions but you should have a chat with you solicitor and specify your expectations and needs.
I wish to let out my leasehold apartment in Boldon Colliery. Conveyancing solicitor who did the purchase is retired - so can't ask him. Do I need to ask my freeholder for their consent?
Some leases for properties in Boldon Colliery do contain a provision to say that subletting is only permitted with prior consent from the landlord. The landlord cannot unreasonably refuse but, in such cases, they would need to review references. Experience dictates that problems are usually caused by unsatisfactory tenants rather than owner-occupiers and for that reason you can expect the freeholder to take up the references and consider them carefully before granting permission.
Boldon Colliery Leasehold Conveyancing - A selection of Queries Prior to buying
On the whole the outlay for major works are not included within maintenance charges, although there some managing agents in Boldon Colliery require leaseholders to pay into a sinking fund created for the specific intention of building a fund for larger repairs or maintenance. This question is important as a) areas may result in problems for the building as the common areas may begin to deteriorate if repairs remain unpaid b) if the leasehold owners have a dispute with the running of the building you will want to have complete disclosure If a Boldon Colliery lease has no more than 80 years it will affect the salability of the property. It is worth checking with your mortgage company that they are happy with the length of the lease. Leases with fewer than 80 years remaining means that you will most likely require a lease extension sooner rather than later and it is worth finding out how much this will be. Remember, in most cases you would need to own the premises for 24 months before you are eligible to extend the lease.