We were just about to sign contracts for a semi detached house in Lynmouth. We have hit a problem. The mortgage offer with HSBC Bank runs out on 11/8/2025 but the owners are putting forward a completion date of 13/8/2025. Can one prolong the loan expiry date?
The best person to deal with your issue is your conveyancer who will hopefully calculate if they should be discussing with the bank, vendor’s lawyers, property agents or indeed all parties based on what has happend in your conveyancing to date.
I have recentlyfound out that Action Conveyancing have been shut down. They conducted my conveyancing in Lynmouth for a purchase of a leasehold flat 12 months ago. How can I be sure that my home is registered correctly in the name of the former proprietor?
The easiest method to see if the premises is in your name, you can make a search of the land registry (£3.00). You can either do this yourself or ask a law firm to do this for you. If you are not registered you can seek help from one of a number of Lynmouth conveyancing specialists.
I opted to have a survey carried out on a property in Lynmouth prior to appointing conveyancers. I have been told that there is a flying freehold aspect to the property. Our surveyor has said that some mortgage companies will refuse to issue a loan on such a home.
It varies from the lender to lender. HSBC has different instructions for example to Birmingham Midshires. Should you wish to telephone us we can check via the relevant mortgage company. If you lender is happy to lend one our lawyers can help as they are used to dealing with flying freeholds in Lynmouth. Conveyancing may be slightly more expensive based on your lender's requirements.
I have been recommended by numerous estate agents in Lynmouth to find a conveyancer on your site. Is there a financial upside for Estate Agents to promote your services over and above another?
We refuse to offer any financial incentive for directing people to this site. We thought it would be too underhand to pay a commission as a client could think, ‘How come the agent getting a kickback? Why am I not receiving any benefit too?’ We would prefer to grow our business on genuine recommendations.
Do you have any top tips for leasehold conveyancing in Lynmouth from the point of view of speeding up the sale process?
- Much of the frustration in leasehold conveyancing in Lynmouth can be avoided where you instruct lawyers the minute your agents start advertising the property and request that they start to collate the leasehold information which will be required by the purchasers’ lawyers. If you have carried out any alterations to the property would they have required Landlord’s permission? Have you, for example laid down wooden flooring? Most leases in Lynmouth state that internal structural alterations or laying down wooden flooring require a licence from the Landlord acquiescing to such alterations. If you dont have the approvals to hand you should not contact the landlord without checking with your solicitor before hand. Some Lynmouth leases require Landlord’s consent to the sale and approval of the buyers. If this is the case, you should notify your estate agents to make sure that the purchasers obtain bank and professional references. Any bank reference should make it clear that the buyer is able to meet the yearly service charge and the actual amount of the service charge should be quoted in the bank’s letter. You will therefore need to provide your estate agents with the actual amount of the service charge so that they can pass this information on to the buyers or their solicitors. If you have the benefit of shareholding in the freehold, you should make sure that you hold the original share certificate. Obtaining a duplicate share certificate can be a lengthy formality and slows down many a Lynmouth home move. Where a duplicate share certificate is needed, do contact the company officers or managing agents (if relevant) for this at the earliest opportunity.
Leasehold Conveyancing in Lynmouth - A selection of Questions you should consider Prior to buying
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What prohibitions are there in the Lynmouth Lease? Please note if it is less than 80 years it will affect the value of the property. It is worth checking with your bank that they are happy with the length of the lease. Leases with fewer than 80 years remaining means that you will almost definitely have to extend the lease sooner rather than later and you need to have some idea of how much this would cost. For most Lynmouthlease extensions you will be required to have been the owner of the premises for 24 months before you are entitled to exercise a lease extension. The answer will be useful as a) areas can result in problems for the block as the common areas may begin to deteriorate if maintenance are not paid for b) if the leaseholders have a dispute with the managing agents you will need to have all the details
I pay a service charge for my property in Lynmouth. As a result of flawed financial planning I slipped behind with payments. The management company agreed a clearance plan but there is still approximately £3000 left to be paid.
I want to sell and I am nervous that this may hold me back if I have to settle the arrears now. I'd like to sell up and then discharge the debt from the proceeds - is this possible?
You should check with the property lawyer handling your Lynmouth conveyancing but one option could be to agree for the debt to be attributed to the purchasers. The purchase price due would be reduced to reflect the amount of debt they take on. They could then pay the outstanding monies after completion of the purchase.