We were just about to sign contracts for a semi detached house in Ambleside. We encountered a snag. The mortgage offer with Birmingham Midshires runs out on 20/11/2023 but the vendors are insisting on a completion date of 22/11/2023. Is it possible to extend the loan expiry date?
The person best placed to address this concern is your conveyancer who will hopefully determine if they better off negotiating with the lender, vendor’s conveyancers, selling agents or possibly all parties given the circumstances your transaction to date.
I just bought a flat at auction in Ambleside. Conveyancing is necessary. What happens now?
Now that you are exchanged you should appoint a conveyancing lawyer soon as you now have a tight a drop dead date to complete the conveyancing. All auction property will ordinarily have a bespoke legal set of papers. This will include most,if not all of the documents that your solicitor requires. In the case of leasehold premises the conveyancing papers may contain a copy of the lease, management information and a sellers leasehold information form and associated conveyancing documentation specific to leasehold premises. You should hand this to the solicitor instructed by you at the earliest opportunity. You also need to ensure that you have funds in order to complete the transaction on the set completion date.
My fiancee and I are at the point of viewing flats in Ambleside and I am now considering a potential offer. Should I already have a property lawyer in place at this stage? I intend to finance via a mortgage with RBS.
It would be wise to instigate your search sooner rather than later. After you have chosen your lawyer and once your offer is accepted you can instruct them to work for you and forward their details on to the selling agent. Given that you are taking out a mortgage with RBS, ask your prospective lawyers if they are on the RBS conveyancing panel otherwise they can't do the mortgage legal work.
About to purchase house in Ambleside. I have received an online quote from a licenced conveyancer, which states: "There will be no charge for dealing with the Lender if you are obtaining a mortgage". I take this to mean that there will be no additional fee if the solicitor is on the HSBC conveyancing panel. I wanted to make sure it means there will be no additional fees for dealing with the mortgage.
They are simply saying that the cost for acting for the lender is included in the fee being quoted. It is worth you checking that the Ambleside lawyer is on the HSBC conveyancing panel.
Are there restrictive covenants that are commonly picked up as part of conveyancing in Ambleside?
Covenants that are restrictive in nature can be picked up when reviewing land registry title as part of the legal transfer of property in Ambleside. 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…’
Over the last few months I have been searching for a leasehold apartment up to £245,000 and found one near me in Ambleside I like with open areas and railway links nearby, the downside is that it only has 52 years on the lease. There is not much else in Ambleside for this price, so just wondered if I would be making a grave error acquiring a lease with such few years left?
Should you need a home loan that many years will likely be a potential deal breaker. Discount the price by the expected lease extension will cost if not already taken into account. If the current proprietor has owned the premises for a minimum of twenty four months you may ask them to commence the lease extension formalities and then assign it to you. An additional ninety years can be extended on to the current lease term with a zero ground rent applied. You should speak to your conveyancing solicitor about this matter.
In what way can the Landlord & Tenant Act 1954 impact my business offices in Ambleside and how can you help?
The 1954 Act provides security of tenure to business lessees, granting the a statutory right to apply to court for a continuation of occupancy at the end of an expired lease. There are limited grounds where a landlord can refuse a lease renewal and the rules are complex. We are happy to direct you to commercial conveyancing solicitors who use the act to your advantage and handle your commercial conveyancing in Ambleside
I would be grateful if you would clarify what options are open to me where my Ambleside conveyancing searches reveals adverse entries?
Normally, the majority of concerns that arise in Ambleside conveyancing search responses can be addressed in advance of completion or title insurance could possibly be obtained. You need to note that regardless of the fact that you are acquiring the premises and might be willing to live with the search results, your building society or bank may not, and when all said and done they have the final say.