I am buying a house mortgage free in Porthleven. I have resided for the last Seventeen years in Porthleven. Conveyancing searches are exorbitant. Given that I have knowledge of the area and road intimately must I have all the conveyancing searches?
If you not getting a mortgage, then all but one or two of the Porthleven conveyancing searches are non-obligatory. Your solicitor will 'advise', perhaps strongly, that you should have searches carried out, but she is duty bound to take that path of encouragement . Do take into account; if you are likely to sell the house one day, it will likely be be of importance to your prospective buyer what the searches contain. On occasion premises with functional issues can still reveal adverse search results. A competent conveyancing solicitor in Porthleven should provide you some constructive advice in this regard.
Finally the sale completed on my house in Porthleven last November yet the purchaser is Skype messaging daily complaining that their lawyer is waiting to hear from myconveyancer. What are the post completion sale formalities following completion?
Following your house sale your solicitor should forward the transfer documentation and all additional paperwork to the purchaser's solicitors. Where appropriate, your lawyer should also confirm that the home loan has been paid off to the purchasers lawyers. There are no post completion steps peculiar conveyancing in Porthleven.
My father pointed out to me me that in buying a property in Porthleven there may be various restrictions preventing external changes to the property. Is this right?
We are aware of anumerous of properties in Porthleven which have some sort of restriction or requirement of consent to carry out external variations. Part of the conveyancing in Porthleven should determine what restrictions are applicable and advising you as part of a ROT that should be sent to you.
We have agreed to purchase a house in Porthleven. An unusual aspect is that the roof has a solar panel. Kent Reliance have issued a mortgage offer so presumably this is not a concern to them. Why is my solicitor raising questions about the panel?
Given that your lender is Kent Reliance your lawyer must follow the conveyancing requirements set out in Part 2 of UK Finance Lenders’ Handbook for Kent Reliance. The Council of Mortgage Lenders’ Handbook sets out minimum requirements for solar panel roof-space leases, and solicitors are required to report to Kent Reliance where a lease fails to comply with these specifications. The provisions relate to the installation of panels on properties countrywide and is not restricted to Porthleven.
The formalities of my purchase has taken place for my property in Porthleven. Conveyancing was satisfactory but I would like to complain about the lender. How do I make a complaint?
All banks and building societies have complaints procedures. Your first point of contact should be one of the lender’s branches or the Customer Services Team at head office. We understand that complaints to a lender are resolved effectively and efficiently. However if you are not satisfied that the matter is not resolved you can write to Financial Ombudsman Service who will take matters further.
Last October I purchased a leasehold property in Porthleven. Do I have any liability for service charges for periods before my ownership?
Where the service charge has already been demanded from the previous owner and they have not paid you would not usually be personally liable for the arrears. Strange as it may seem, your landlord may still be able to take action to forfeit the lease. A critical element of leasehold conveyancing for your conveyancer to ensure to have an up to date clear service charge receipt before completion of your purchase. If you have a mortgage this is likely to be a requirement of your lender.
If you purchase part way through an accounting year you may be liable for charges not yet demanded even if they relate to a period prior to your purchase. In such circumstances your conveyancer would normally arrange for the seller to set aside some money to cover their part of the period (usually called a service charge retention).
I own a ground floor flat in Porthleven, conveyancing was carried out in 2011. Can you work out an approximate cost of a lease extension? Comparable flats in Porthleven with over 90 years remaining are worth £197,000. The ground rent is £55 invoiced every year. The lease ceases on 21st October 2079
With 55 years remaining on your lease we estimate the premium for your lease extension to range between £31,400 and £36,200 as well as plus your own and the landlord's "reasonable" professional fees.
The suggested premium range that we have given is a general guide to costs for extending a lease, but we cannot give you the actual costs in the absence of detailed due diligence. Do not use this information in a Notice of Claim or as an informal offer. There may be additional issues that need to be taken into account and you obviously want to be as accurate as possible in your negotiations. Please do not move forward placing reliance on this information before seeking the advice of a professional.
Do I stop the direct debit for my mortgage with Principality once a completion date for my home sale in Porthleven has been set?
You would be well advised to continue meeting any mortgage sums to Principality pending the mortgage being discharged from the proceeds of sale as part of your Porthleven conveyancing.