I am the sole recipient of my late father’s estate and I have everything in my name now, including the house in Kendal. Conveyancing formalities meant that the Land Registry date was in November. I now wish to sell up. I understand that there is a Mortgage Lenders 6 month 'rule', meaning my property ownership may be treated the same way as though I had purchased the property in November. Is the property unsalable for six months?
The CML handbook obliges conveyancers to: "report to us immediately if the owner or registered proprietor has been registered for less than six months." By the strict wording you could be affected by that. many mortgage companies would take a pragmatic view as this obligation is primarily there to pick up on subsales or the quick reselling of property.
Two weeks ago we had a mortgage agreed in principle with Clydesdale. Kendal conveyancing lawyers were selected. What is the average time that one could expect to receive a mortgage offer from Clydesdale?
Some lenders take longer than others. Have Clydesdale completed the survey? Have you advised Clydesdale as to your lawyers' details and checked that your lawyers are on the Clydesdale conveyancing panel? It is not unusual for a mortgage offer to take a month to come through.
I have instructed a Kendal lawyer having checked that they are on the Virgin Money conveyancing panel. Does my lawyer arrange the survey of the property?
Virgin Money will need an independent valuation of the property. Your lawyer will not arrange this. Usually Virgin Money will appoint their own surveyor to do this, and you will have to pay for it. Remember that this is a valuation for mortgage purposes and not a survey. Your conveyancer will not organise the survey but they may be able to put you in touch with a local one that they recommend. RICS offers a find a surveyor service (just google it) where you can search for a qualified surveyor by your Kendal postcode. As you are getting a mortgage with Virgin Money, you could contact them to see if they have a list of approved surveyors in Kendal.
What does a local search tell me about the house my wife and I buying in Kendal?
Kendal conveyancing often starts with the ordering local authority searches directly from your local Authority or via a personal search company such as Searchflow The local search is essential in every Kendal conveyancing purchase; that is if you wish to avoid any unpleasant surprises after you move into your new home. The search should reveal information on, amongst other things, details on planning applications applicable to the premises (whether granted or refused), building control history, any enforcement action, restrictions on permitted development, nearby road schemes, contaminated land and radon gas; in all a total of 13 subject sections.
Are there restrictive covenants that are commonly identified during conveyancing in Kendal?
Restrictive covenants can be picked up when reviewing land registry title as part of the legal transfer of property in Kendal. 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…’
Due to the guidance of my in-laws I had a survey completed on a house in Kendal ahead of instructing solicitors. I have been told that there is a flying freehold overhang to the house. My surveyor has said that some mortgage companies may not grant a loan on such a house.
It varies from the lender to lender. HSBC has different requirements for example to Nationwide. If you contact us we can check via the relevant lender. If you lender is happy to lend one our lawyers can assist as they are accustomed to dealing with flying freeholds in Kendal. Conveyancing can be more complicated and therefore you should check with your conveyancing solicitor in Kendal to see if the conveyancing costs will increase in light of this.
Are there any apps to assist me to search for a Kendal solicitor on the Lloyds TSB Bank conveyancing panel? I have a car and am happy to travel upto 25kilometers to meet the conveyancer.
You can use the search on this website. Please pick a mortgage company and your location and you will see a number of Kendal conveyancing lawyers located nearest you. We have detailed some Kendal conveyancing firms at the bottom of this page and you can contact them to verify if they are on the Lloyds TSB Bank approved list
Last August I purchased a leasehold property in Kendal. Am I liable to pay service charges for periods before completion of my purchase?
In a situation where the service charge has already been demanded from the previous lessee and they have not paid you would not usually be personally liable for the arrears. However, your landlord may still be able to take action to forfeit the lease. A critical element of leasehold conveyancing for your conveyancer to be sure to have an up to date clear service charge receipt before completion of your purchase. If you have a mortgage this is likely to be a requirement of your lender.
If you purchase part way through an accounting year you may be liable for charges not yet demanded even if they relate to a period prior to your purchase. In such circumstances your conveyancer would normally arrange for the seller to set aside some money to cover their part of the period (usually called a service charge retention).
Leasehold Conveyancing in Kendal - Sample of Queries Prior to buying
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You should be aware if it is no more than 80 years it will affect the value of the property. It is worth checking with your mortgage company that they are willing to lend given the lease term. A short lease means that you will probably need a lease extension sooner rather than later and it is worth discovering how much this will be. For most Kendallease extensions you would need to own the residence for a couple of years before you are entitled to extend the lease. Who manages the building? What is the length of the lease?