I am purchasing a property mortgage free in Hampden Pk. I have lived for the previous 15 years in Hampden Pk. Conveyancing searches are expensive. Given that I have knowledge of the road and vicinity very well must I have all the conveyancing searches?
Provided that you do not need a home loan, then the vast majority of the Hampden Pk conveyancing searches are optional. Your lawyer will try and sway you, no-doubt strongly, that you should have searches carried out, but he has a professional duty to do this. One thing to bear in mind; if you are intend to sell the house in the future, it will likely be be of importance to your future purchaser what the searches disclose. On occasion properties with apparent issues can still reveal unexpected search results. A competent conveyancing solicitor in Hampden Pk should be able to give you some helpful guidance here.
Should conveyancers request money on account when it comes to conveyancing in Hampden Pk?
If you are buying a property in Hampden Pk your solicitor will request that you place them with monies to cover the search fees. Generally this is called for to cover the fees of the conveyancing searches. When the deposit is as part of the total price then this should be needed immediately ahead of contracts are exchanged. The final balance that is needed will be payable a few days ahead of the day of completion.
I'm the only beneficiary of my late father’s will with all property in now in my sole name, including the my former home in Hampden Pk. Conveyancing formalities meant that the Land Registry date was in January. I want to move. I do know about the Mortgage Lenders six month 'rule', which means that my property ownership may be considered the same way as if I'd bought the property in January. Do I have to wait half a year to sell?
The Council of Mortgage Lenders’ handbook requires solicitors to: "report to us immediately if the owner or registered proprietor has been registered for less than six months." Technically you might be impacted by that. How practical a view mortgage companies take of it, depend on the mortgage company as this requirement primarily exists to pick up on the purchase and immediately sell or the flipping of property.
I can not work out if my bank requires a lease extension. I have called my Hampden Pk bank branch on a couple of occasions and was informed it wasn't an issue and they would lend. My Hampden Pk conveyancing solicitor - who is on the mortgage company conveyancing panel- called to say that they refuse to lend in accordance with their published requirements. Who do I believe?
Provided that the solicitor is on the mortgage company panel, they must follow the CML Handbook conditions for the bank. Unless your lawyer obtains specific confirmation in writing that the mortgage company 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 lender to contact your lawyer in writing confirming that they will accept the number of years left on the lease.
After what seems like an age I have had an offer on a flat in Hampden Pk agreed to, but there is a chain. The vendors have put an offer on a flat, but it’s not yet agreed to, and are looking at other properties booked. I have selected a high street conveyancing solicitor in Hampden Pk. What do I do now? At what stage should I apply for the mortgage with Kent Reliance?
It is usual to have anxieties where there is a chain as you are unlikely to want to be too out of pocket too early (home loan application is in the region of one thousand pounds, then survey, Hampden Pk conveyancing search charges, etc). The first thing to do is check that your solicitor is on the Kent Reliance approved list. As to the next stages this very much depends on the specifics of your case, attraction to the property and on the state of the market. During a buoyant market the majority of buyers would apply for a home loan with Kent Reliance and pay for the valuation and only if it comes back ok would they ask their conveyancer to proceed with the conveyancing in Hampden Pk.
I need some quick conveyancing in Hampden Pk as I have an ultimatum to exchange contracts inside 2 weeks. A mortgage is not required. Can I avoid the conveyancing searches to save fees and time?
As you are are a mortgage free buyer you are at liberty not to do searches although no law firm would advise that you don't. With lots of history conveyancing in Hampden Pk the following are examples of what can crop up and therefore impact the marketability of the property: Enforcement Actions, Outstanding Fees, Outstanding Grants, Railway Schemes,...
Over the last few months I have been searching for a leasehold apartment up to £195,000 and identified one round the corner in Hampden Pk I like with open areas and railway links nearby, however it's only got 51 years on the lease. There is not much else in Hampden Pk in this price bracket, so just wondered if I would be making a mistake purchasing a short lease?
Should you require a mortgage the shortness of the lease will be a potential deal breaker. Reduce the price by the expected lease extension will cost if not already taken into account. If the current owner has owned the premises for at least 2 years you could request that they start the process of the extension and then assign it to you. You can add 90 years to the current lease with a zero ground rent applied. You should speak to your conveyancing solicitor regarding this.