Forgive me if this question is silly but I am unexperienced as FTB of a garden flat in Bourne. Do I receive the keys to the property on the completion date from my conveyancer? If this is the case, I will appoint a High Street conveyancing solicitor in Bourne?
There is no need to visit the lawyers office on the day of completion. Conveyancing lawyers for you will transfer the completion advance to the seller's solicitors, and shortly after the monies have arrived, you will be invited to collect the keys from the property Agents and move into your new home. This tends to happen between 1 and 3pm.
I happen to be the only beneficiary of my late grandmother’s estate with all property in now in my sole name, including the house in Bourne. The Bourne property was put into my name in May. I now wish to sell up. I understand that there is a Mortgage Lenders six month 'rule', meaning my property ownership will be considered the same way as though I had purchased the property in May. Is the property unsalable for six months?
The Council of Mortgage Lenders’ handbook mandates solicitors to: "report to us immediately if the owner or registered proprietor has been registered for less than six months." Technically you could be impacted by that. Some banks would take a practical view as this requirement is chiefly there to capture the purchase and immediately sell or the quick reselling of properties.
Is it correct that all Bourne CQS (Conveyancing Quality Scheme) solicitors are on the Yorkshire BS conveyancing list of approved firms?
Some major lenders now use CQS as the kick off point for Panel membership such as HSBC and Santander. CQS accreditation however gives no guarantee to lender panel acceptance. Nevertheless,the CML have indicated that it is likely to become a pre-requisite for solicitors wishing to join their approved list of conveyancing solicitors.
I am buying a property and the solicitor has identified Chancel Repair for which the property could be obligated to pay given it’s proximity to the area of such a church. He has recommended insurance. Is this strictly necessary for conveyancing in Bourne
Unless a prior purchase of the premises took place after 12 October 2013 you can take it that solicitors carrying out conveyancing in Bourne to continue to propose a a chancel search and or insurance against a claim.
My wife and I have a renovated Georgian property in Bourne. Conveyancing practitioner acted for me and Norwich and Peterborough Building Society. I did a free Land Registry search last week and there are two entries: the first freehold, another for leasehold with the matching address. I thought I was buying a freehold how can I check?
You should review the Freehold register you have again and check the Charges Register as there may be mention of a lease. The best way to be sure that you are also the registered proprietor of the leasehold and freehold title as well is to check (£3). It is not completely unheard of in Bourne and other locations in the country and poses no real issues for owners other than when they remortgage they have to account for both freehold and leasehold interests when dealing with lenders. You can also enquire as to the position with your conveyancing lawyer who conducted the conveyancing.
I am looking for a flat up to £305k and found one near me in Bourne I like with open areas and transport links in the vicinity, however it's only got 49 years on the lease. There is not much else in Bourne in this price bracket, so just wondered if I would be making a grave error acquiring a lease with such few years left?
Should you require a home loan the shortness of the lease will likely be a potential deal breaker. Reduce the offer by the expected lease extension will cost if not already taken into account. If the current owner has owned the property for a minimum of 2 years you may request that they start the process of the extension and pass it to you. An additional ninety years can be extended on to the existing lease term with a zero ground rent applied. You should consult your conveyancing lawyer about this matter.
I'm refinancing my primary home to a BTL loan with Britannia and intend to use the remaining equity as a deposit on another property. The location we are talking about is Bourne. Will your conveyancers be able to act for the two banks and link together the two deals?
Do use our comparison tool on this page to be sure that the solicitors are approved by both mortgage companies. Assuming that they are your lawyer will be able to connect the two conveyancing matters but you should talk with you lawyer and make apparent your expectations and requirements.
I am intending to sublet my leasehold apartment in Bourne. Conveyancing solicitor who did the purchase is retired - so can't ask her. Is permission from the freeholder required?
Notwithstanding that your last Bourne conveyancing solicitor is no longer around you can review your lease to see if you are permitted to let out the apartment. The rule is that if the lease is silent, subletting is permitted. Quite often there is a prerequisite that you must seek consent via your landlord or some other party prior to subletting. This means that you cannot sublet without prior permission. Such consent must not not be unreasonably turned down. If the lease prohibits you from letting out the property you will need to ask your landlord if they are willing to waive this restriction.
Bourne Leasehold Conveyancing - A selection of Queries Prior to Purchasing
Best to be warned if changing the roof or some other significant cost is anticipated that will be shared between the leasehold owners and may well dramatically increase the the maintenance fees or result in a one time invoice. You should be aware if it is fewer than eighty years it will have adverse implications on the salability of the property. It is worth checking with your bank that they are happy with the length of the lease. Leases with less than 80 years remaining means that you will probably have to extend the lease at some point and it is worth finding out what this would cost. For most Bournelease extensions you would be required to have owned the premises for 24 months before you are legally able to extend the lease. Its a good idea to discover as much as possible regarding the company managing the building as they will either make life much simpler or uncomfortable. Being a leasehold owner you are often at the mercy of the managing agents from a financial perspective and when it comes to day to day issues like the tidiness of the common parts. Don't be afraid to ask other tenants what they think of them. Finally, be sure you understand the dates that you are obliged pay the service charge to the managing agents and precisely how they are spending that money.