My husband and I are only a couple days away from an exchange on a house in Cornwall and my mum and dad have transferred the exchange deposit to my conveyancer. I am now advised that as the deposit has been sent from someone other than me my conveyancing practitioner needs to disclose this to my bank. Apparently, in also acting for the bank he must inform them that the balance of the purchase price is not just from me. I informed the mortgage company concerning my parents' contribution when I applied for the mortgage, so is it really necessary for this now to delay the deal?
Your lawyer is duty bound to check with lender to make sure that they understand that the balance of the purchase price is not from your own funds. The solicitor can only notify this to your mortgage company if you agree, failing which, your lawyer must cease to continue acting.
I am about to put an offer on a leasehold apartment in Cornwall. The property agents tell me that it is normal for flats in Cornwall to have less than 75 years unexpired on the lease. I am getting a loan with Accord Mortgages. Will the property be mortgageable given that the lease has 70 years left.
Most leasehold conveyancing experts should be able to deal with a lease extension. if you are securing a mortgage then your lender may insist that the lease be extended before competition. Accord Mortgages have specific requirements as set out in the UK Finance Lenders’ Handbook in relation to minimum unexpired lease terms. As of 6/5/2021 the requirements read as follows :
Have just purchased a probate house at auction in Cornwall. Conveyancing is required. What is next?
Now that you are legally bound yourself to purchase you should choose a conveyancing lawyer quickly as you are facing a pending a fixed date to complete the deal. All auction property will have an associated legal set of papers. This should include most,if not all of the documents that your conveyancer will need. In the case of leasehold property the conveyancing pack may include a copy of the lease, management information and a sellers leasehold information form and other conveyancing paperwork pertinent to leasehold premises. You need to hand this to your appointed conveyancing solicitor at the earliest opportunity. You also need to ensure that that you have the requisite funding in order to complete the transaction on the set completion date.
We are getting a further advance on our mortgage from Bank of Ireland as we intend to carry out improvements to our house in Cornwall. Do we need to select a nearby Cornwall solicitor on the Bank of Ireland conveyancing panel to deal with the paperwork?
Bank of Ireland would not normally require a member of their conveyancing panel to deal with such a matter. If they do require any legal work then you would need to ensure that such a lawyer was on the Bank of Ireland conveyancing panel.
Completion of my purchase has taken place for my property in Cornwall. Conveyancing was satisfactory but I feel I should register my dissatisfaction about the lender. How does one go about formally complaining?
Most banks and building societies have complaints procedures. Your first point of contact should be one of the lender’s branches or the Customer Care Team at head office. In most cases complaints to a lender are resolved very quickly. However if you are not satisfied that the matter is not resolved you can write to Financial Ombudsman Service who will take matters further.
Just bought a terraced house in Cornwall , how long will it take for the Land Registry to record my ownership? My Cornwall conveyancing solicitor has been painfully slow, so I want to check that my name is registered.
There is nothing unique about conveyancing in Cornwall registration formalities. Rather than based on location, timeframes can differ subject to the party submitting the application, whether it is in order and whether the Land registry communicate with any interested persons or bodies. As of today approximately three quarters of submission are fully dealt with in less than three weeks but some can be subject to protracted delays. Historically registration takes place after the purchaser has moved in to the premises thus registration formalities is not usually top priority yet where there is a degree of urgency associated with the registration then you or your solicitor should contact the land registry and explain the circumstances.
I have been on the look out for a ground for flat up to £305k and found one round the corner in Cornwall I like with open areas and transport links nearby, the downside is that it's only got 61 years on the lease. There is not much else in Cornwall for this price, so just wondered if I would be making a mistake purchasing a lease with such few years left?
Should you require a mortgage that many years will likely be problematic. Discount the offer by the amount the 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 can request that they commence the lease extension formalities and then assign it to you. You can add 90 years to the existing lease and have £0 ground rent by law. You should consult your conveyancing lawyer regarding this matter.
In my capacity as executor for the estate of my grandmother I am selling a residence in Cardiff but live in Cornwall. My solicitor (who is 235 miles from meneeds me to sign a statutory declaration before completion. Could you suggest a conveyancing lawyer in Cornwall to witness this legal document for me?
strictly speaking you should not need to have the documents witnessed by a conveyancing solicitor. Ordinarily any notary public or qualified solicitor will be fine regardless of whether they are located in Cornwall