I am need of leasehold conveyancing for a flat in a relatively new development (seven years old) in Farnham Common. The vast majority the properties have already been occupied. Do I need carry out the local searches for my conveyancing in Farnham Common?
You are opening yourself up to an unnecessary risk in failing carrying out Farnham Common conveyancing searches. Without searches you have no clarity over flooding, environmental etc which may mean you walk away due to potential problems down the line. If you are buying mortgage free there is no legal necessity to have them, but we would seriously advise in the strongest possible terms that your conveyancer conducts them. Where timings and cost are primary issues you should discuss with your conveyancer about the option of search insurance
I am the only beneficiary of my late grandmother’s will and I have everything in my name now, including the my former home in Farnham Common. The Farnham Common property was put into my name in August. I plan to dispose of the house. I understand that there is a Mortgage Lenders 6 month 'rule', which means that my property ownership could be regarded the same way as if I'd bought the property in August. Do I have to wait half a year to sell?
The Council of Mortgage Lenders’ handbook obliges conveyancers to: "report to us immediately if the owner or registered proprietor has been registered for less than six months." Technically you could be caught by that. Most lenders would take a practical view as this clause is primarily there to pick up on the purchase and immediately sell or the flipping of property.
My wife and I have arranged a further advance on our mortgage from Clydesdale as we wish to carry out renovations to our property in Farnham Common. Do we need to choose a bricks and mortar Farnham Common solicitor on the Clydesdale conveyancing panel to handle the legals?
Clydesdale don't usually appoint firms on their conveyancing panel to handle such a matter. If they do require any legal work then you would need to ensure that such a lawyer was on the Clydesdale list.
Our offer on a property in Farnham Common has been agreed to, but there is a chain. The sellers have placed an offer on somewhere, however it’s not been accepted yet, and have viewings of other properties booked. I have selected a bricks and mortar conveyancing solicitor in Farnham Common. What do I do now? When do I get the mortgage application with RBS going?
It is usual to have concerns where there is a chain as you are unlikely to want to be too out of pocket prematurely (home loan application is approx £1k, then valuation, Farnham Common conveyancing search costs, etc). First, you should check that your conveyancer is on the RBS conveyancing panel. Regarding the next phase this very much dictated by the uniqueness of your case, attraction to this property and on the state of the market. In a rising market some home buyers will apply for the mortgage with RBS and arrange for the valuation and only if it was satisfactory would they pay their lawyer to proceed with the conveyancing in Farnham Common.
I have been told that property searches are the primary reason for delay in Farnham Common house deals. Is this right?
The Council of Property Search Organisations (CoPSO) released findings of research by MoveWithUs that conveyancing searches do not feature amongst the top 10 causes of delays in the conveyancing process. Local searches are unlikely to feature in any slowing down conveyancing in Farnham Common.
I am buying a new build flat in Farnham Common. Conveyancing is daunting at the best of times but I have never purchased a new build flat before. Can you give me some examples of some of the questions asked in new build conveyancing.
Set out below are examples of a few leasehold new build enquiries that you should expect your new-build leasehold conveyancing in Farnham Common
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There must be mutual enforceability of lessee’s covenants. Investor purchasers must be able to freely grant unsecured tenancies at market rents without requiring any consents. The Landlord must covenant to assume the management if the Management Company goes into liquidation or otherwise defaults in running the management scheme. Has the Lease plan been approved by the Land Registry and if not when will they be lodged for this purpose? Will control of the Management Company (if any) be handed over to purchasers on completion of the last sale or earlier?
I opted to have a survey completed on a house in Farnham Common in advance of retaining conveyancers. I have been informed that there is a flying freehold overhang to the house. The surveyor advised that some lenders may not issue a loan on a flying freehold home.
It depends who your proposed lender is. HSBC has different requirements for example to Halifax. If you e-mail us we can investigate further with the relevant mortgage company. If you lender is happy to lend one our lawyers can assist as they are used to dealing with flying freeholds in Farnham Common. Conveyancing will be smoother if you use a solicitor in Farnham Common especially if they regularly deal with such properties in Farnham Common.
My husband and I are 14 days into a leasehold purchase having been directed to conveyancers by the selling agent to carry out the conveyancing in Farnham Common. We are not happy. Could you help me find new lawyers?
They would need to be really poor to suggest replacing them. Has the mortgage been sent? If so you will need to inform them of the replacement conveyancer and get the loan are issued to the new lawyers. Your new solicitor ideally needs to be on the mortgage company panel to avoid added expenses and delays. That should be your starting point. Our find a solicitor tool can help you find a lender approved solicitor for your conveyancing in Farnham Common