I have given 2 months notice to my current landlord and must vacate my rented property in Clitheroe by 7/3/2025. Conveyancing for my house purchase has just started. How realistic is it to complete in three weeks as don't want to have to move into temporary accommodation?
The normal practice is not to give notice on a rental until exchange of contracts has taken place. If you have not already done so, notify to your solicitor and ask them to they chase the other side, try to an agreed time frame that everyone will aim to achieve
We're in Clitheroe, FTBs buying with a mortgage (lender is Bank of Ireland , and our lawyer is on the Bank of Ireland conveyancing panel). How long should the conveyancing process take?
The fact that your lawyer is on the Bank of Ireland conveyancing panel is a help. It would almost certainly delay matters if they were not. However, no property lawyer should guarantee a timeframe for your conveyancing, due to third parties outside of your control such as delays caused by lenders,conveyancing search providers or by the other side’s solicitors. The time taken is often determined by the number of parties in a chain.
I have been told that property searches are the primary reason for delay in Clitheroe house deals. Is there any truth in this?
The Council of Property Search Organisations (CoPSO) released determinations of a review by MoveWithUs that conveyancing searches do not figure within the common causes of delays in the conveyancing process. Local searches are unlikely to feature in any delay in conveyancing in Clitheroe.
Are there restrictive covenants that are commonly identified as part of conveyancing in Clitheroe?
Covenants that are restrictive in nature can be picked up when reviewing land registry title as part of the legal transfer of property in Clitheroe. 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…’
What are the frequently found problems that you see in leases for Clitheroe properties?
There is nothing unique about leasehold conveyancing in Clitheroe. Most leases are unique and drafting errors can sometimes mean that certain provisions are missing. For example, if your lease is missing any of the following, it could be defective:
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A provision for the recovery of money spent for the benefit of another party. A duty to insure the building
A defective lease can cause problems when trying to sell a property primarily because it impacts on the ability to obtain a mortgage on the property. Halifax, Coventry Building Society, and Barclays Direct all have very detailed conveyancing instructions when it comes to what is expected in a lease. Where a lender has been advised by their lawyers that the lease does not cover certain provisions they may refuse to grant the mortgage, obliging the purchaser to withdraw.
Leasehold Conveyancing in Clitheroe - Examples of Queries before buying
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What is the maintenance charge and ground rent on the flat? Where a Clitheroe lease has less than eighty years it will affect the salability of the property. Check with your lender that they are willing to to proceed given the lease term. Leases with less than 80 years remaining means that you will most likely have to extend the lease at some point and you need to have some idea of what this would cost. For most Clitheroelease extensions you would be required to have been the owner of the premises for 24 months in order to be entitled to exercise a lease extension. Who are the managing agents?
Developers have suggested I use a lawyer and I've obtained an estimate from them. It's almost two hundred pounds cheaper than my own Clitheroe lawyer. What's the catch?
Housebuilders frequently have lists of property lawyers who expedite matters and who know the developer’s documentation and conveyancer. Plenty of developers offer an inducement to choose a preferred conveyancer for this reason, any increased cost can be avoided and a developer will not put forward a conveyancing factory and run the risk of having the transaction delayed when they demand an exchange within a tight time frame. A counter-argument for not opting for the suggested property lawyer is that they may be hesitant to 'push' your interests at the risk of alienating the developer. Where you have concerns that this may be the case you should keep with your high street Clitheroe conveyancing practitioner.