We are about to sign contracts for a leasehold flat in Wotton under Edge. We have hit a snag. The mortgage offer with Bank of Scotland expires on 27/1/2021 but the owners are suggesting a completion date of 29/1/2021. Can one prolong the loan offer?
The best person to deal with your issue is your lawyer who should assess if they should be discussing with the mortgage company, owner’s solicitors, property agents or possibly all three taking into account what has happend in your transaction to date.
A friend pointed out to me me that in buying a property in Wotton under Edge there may be a number of restrictions preventing external changes to the property. Is this right?
We are aware of a number of properties in Wotton under Edge which have some sort of restriction or requirement of consent to carry out external alterations. Part of the conveyancing in Wotton under Edge should determine what restrictions are applicable and advising you as part of a ROT that should be sent to you.
I am the sole recipient of my late father’s estate with all property in now in my sole name, including the house in Wotton under Edge. Conveyancing formalities meant that the Land Registry date was in October. I now wish to sell up. I understand that there is a Mortgage Lenders 6 month 'rule', which means that my proprietorship will be treated the same way as if I'd bought the house in October. Will no one buy the property for half a year?
The CML handbook requires 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. many banks would take a pragmatic view as this requirement primarily exists to pick up on the purchase and immediately sell or the wholesaling and assigning of property.
Two weeks ago we had a mortgage agreed in principle with HSBC. Wotton under Edge conveyancing practitioners have been chosen. What is the average time that one could expect to receive a mortgage offer from HSBC?
There is no definitive answer here. Have HSBC conducted the survey? Have you advised HSBC as to your lawyers' details and checked that your lawyers are on the HSBC conveyancing panel? Sometimes it can take as long as six weeks for a mortgage offer to be issued.
I am intent on selling our house in Wotton under Edge and the buyers lawyers are claiming that there is a risk of it being built land that was not decontaminated. Any local conveyancer would know this is not the case. For the life of me I don't know why the buyers instructed a factory type conveyancing firm as opposed to a conveyancing solicitor in Wotton under Edge. Having lived in Wotton under Edge for 5 years we know that this is a non issue. Should we contact our local Authority to get clarification need.
It would appear that you have a conveyancing lawyer currently acting for you. Are they able to advise? You need to enquire of your lawyer before you do anything. It is very possible that once the local authority has been informed of a potential issue it cannot be insured against (a bit like being diagnosed with a serious illness and then taking out life insurance to cover that same sickness)
I have todaybecome aware that Stirling Law have been shut down. They carried out my conveyancing in Wotton under Edge for a purchase of a freehold house 9 months ago. How can I be sure that my home is registered correctly in the name of the previous owner?
The quickest way to see if the property is in your name, you can make a search of the land registry (£3.00). You can either do this yourself or ask a law firm to do this for you. If you are not registered you can seek help from one of a number of Wotton under Edge conveyancing specialists.
What advice can you give us when it comes to appointing a Wotton under Edge conveyancing practice to carry out our lease extension conveyancing?
If you are instructing a property lawyer for lease extension works (regardless if they are a Wotton under Edge conveyancing firm) it is most important that he or she should be familiar with the legislation and specialises in this area of conveyancing. We recommend that you make enquires with several firms including non Wotton under Edge conveyancing practices before you instructing a firm. Where the conveyancing practice is ALEP accredited then that’s a bonus. The following questions could be helpful:
How many lease extensions has the firm carried out in Wotton under Edge in the last 12 months?
Wotton under Edge Conveyancing for Leasehold Flats - Examples of Questions you should ask Prior to Purchasing
You should be aware if it is no more than eighty years it will have adverse implications on the marketability of the property. It is worth checking with your bank that they are content with remaining years on the lease. A short lease means that you will most likely have to extend the lease sooner rather than later and it is worth finding out what this will be. Remember, in most cases you will need to own the residence for a couple of years before you are eligible to extend the lease. Who manages the building?