Unfortunately I am unable to travel far from Brampton. Is there a reason why all Brampton lawyers are not on all mortgage company panels?
Lenders highlight the fact that solicitor-led fraud is considered to be responsible for millions of pounds of fraud annually.The elimination of law firms off of lender panels started with the rise in mortgage fraud, which prompted a thematic review by the Financial Services Authority in 2011. Its conclusions included recommendations for mortgage companies to review their conveyancing panels, which kicked off a major policy change in the sector. This led to banks and building societies removing a number of firms off their panel of approved lawyers .
We were just about to sign contracts for a property in Brampton. We have hit a problem. The loan offer with Coventry Building Society expires on 6/8/2025 but the sellers are insisting on a completion date of 8/8/2025. Can one prolong the mortgage expiry date?
The best person to deal with your question is your conveyancer who is in a position to calculate whether he or she is should be discussing with the mortgage broker, owner’s representatives, property agents or conceivably all three given the history of your transaction to date.
I am helping my niece sell her house in Brampton. Does the solicitor order the EPC or it is for me to see to?
Following the abolition of HIPs, EPC’s was maintained a required part of selling a property. An energy assessment must be to hand in advance of the property being advertised. This is not a task that solicitors normally organise. If you are using a Brampton conveyancing lawyer they might be willing to arrange energy assessments given their contacts with long established Brampton accredited person
Can you help - my lawyer says that absentee landlord insurance is necessary on my purchase. What is the level of cover for Brampton conveyancing?
The right level of absentee landlord indemnity insurance should be dictated by who who your lender is. It would differ for example between Nationwide Building Society and Norwich and Peterborough Building Society. Conveyancing solicitors as opposed to members of the public take out such insurances.
Kent Reliance have agreed my home loan in principle, my bid on a house in Brampton has been accepted, what happens next?
The property agent will wish to be advised as to your property lawyer's details (make sure the lawyers are on the lender’s panel). Telephone Kent Reliance or the broker and finish off any relevant forms. Kent Reliance will instruct a valuer who will get in touch with the selling agent or seller to schedule a time for the valuation to occur. Once conducted (assuming no problems) it takes about ten days to get a mortgage offer. Kent Reliance will issue the offer to you and your lawyers. The transaction will then take it’s course according the nature and complexity of the conveyancing in Brampton.
I own a renovated Edwardian property in Brampton. Conveyancing solicitor acted for me and Aldermore. I did a free Land Registry search last week and I saw two entries: one for freehold, another for leasehold under the matching address. I'd like to know for sure, how can I find out??
You should assess 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 Brampton and other areas of the country and poses no real issues for owners other than when they buy they have to account for both freehold and leasehold interests when dealing with mortgage companies. You can also check the position with the conveyancing solicitor who conducted the work.
I am tempted by the attractive purchase price for a couple of flats in Brampton which have approximately forty five years unexpired on the leases. should I be concerned?
There are plenty of short leases in Brampton. The lease is a legal document that entitles you to use the property for a prescribed time frame. As a lease gets shorter the saleability of the lease decreases and results in it becoming more costly to extend the lease. For this reason it is often a good idea to extend the lease term. More often than not it is difficult to sell a property with a short lease as mortgage companies less inclined to grant a loan on properties of this type. Lease enfranchisement can be a difficult process. We advise that you seek professional assistance from a conveyancer and surveyor with experience in this field.
Brampton Leasehold Conveyancing - A selection of Questions you should ask Prior to buying
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Generally speaking the cost for major works tend not to be wrapped into the maintenance charges, although a few managing agents in Brampton obliged leasehold owners to contribute towards a sinking fund and this is used to offset against larger works. Are there any major works in the planning that will add a premium to the maintenance charges? How many of the leaseholders are in arrears for their service charge payments?
Why can I not complete my conveyancing in Brampton on May bank holiday?
Because on completion the funds needs to pass between the banks of the buyer and seller's property lawyer and at present this can only occur on a business day. So you can't complete on a weekend either.