Our solicitor has identified a defect with the lease for the apartment we are purchasing in Lynton. The other side have put forward defective title insurance as a solution. We are content with insurance and will cover the costs. Our conveyancing practitioner has advised that he must check that the lender is willing to move forward with this solution. Are we the client or is the mortgage company ?
Notwithstanding that you have a mortgage offer from the lender does not mean to say that the property will meet their conditions for the purposes of a mortgage. Your lawyer has to ensure that the lease has to comply with the UK Finance Lenders’ Handbook conditions. You and the bank are the client. The appropriate lender conditions must be adhered to.
A friend advised me that in purchasing a property in Lynton there may be various restrictions preventing external alterations to a property. Is this right?
We are aware of anumerous of properties in Lynton which have some sort of restriction or requirement of consent to external changes. Part of the conveyancing in Lynton should determine what restrictions are applicable and advising you as part of a ROT that should be sent to you.
Last month we had a mortgage agreed in principle with Skipton. Lynton conveyancing practitioners were selected. How long does it take for Skipton to send the offer to the lawyer?
Some lenders take longer than others. Have Skipton completed the valuation? Have you advised Skipton as to your lawyers' details and checked that your lawyers are on the Skipton conveyancing panel? It is not unusual for a mortgage offer to take a month to come through.
My offer on a property in Lynton has been accepted, but there is a chain. The sellers have placed an offer on somewhere, but it’s not yet tied up, and have viewings of other properties booked. I have instructed a local conveyancing solicitor in Lynton. What do I do now? At what stage should I apply for the mortgage with Kent Reliance?
It is usual to have apprehensions where there is a chain as you are unlikely to want to be too out of pocket prematurely (mortgage application is in the region of one thousand pounds, then valuation, Lynton conveyancing search fees, etc). The first thing to do is ensure that your conveyancer is on the Kent Reliance approved list. As to the next phase this very much dictated by the circumstances of your case, desire for the property and on the state of the market. During a rising market the majority of buyers will apply for the mortgage with Kent Reliance and arrange for the valuation and only if it comes back ok would they pay their conveyancing practitioner to proceed with the conveyancing in Lynton.
Are there restrictive covenants that are commonly identified during conveyancing in Lynton?
Restrictive covenants can be picked up when reviewing land registry title as part of the process of conveyancing in Lynton. 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…’
Over the last few months I have been searching for a leasehold apartment up to £305k and found one near me in Lynton I like with open areas and transport links nearby, however it only has 51 years on the lease. I can't really find anything else in Lynton suitable, so just wondered if I would be making a mistake buying a lease with such few years left?
If you require a mortgage the remaining unexpired lease term will be an issue. Discount the offer by the expected lease extension will cost if not already taken into account. If the existing proprietor has owned the premises for a minimum of twenty four months you may request that they start the process of the extension and pass it to you. You can add 90 years to the existing lease term with a zero ground rent applied. You should consult your conveyancing solicitor regarding this matter.
I am a sole trader hoping to take over a lease of a shop on the high street. Can you recommend conveyancers offering competitive charges for commercial conveyancing in Lynton for under £2000?
We can recommend firms who have well rounded knowledge of commercial conveyancing in Lynton, including the sale and purchase of businesses as well as simply premises. If you are looking to buy or dispose of a shop, pub, restaurant, office, retail unit or a whole business we will find you the right firm. Regarding the costs these will vary based on the structure and complexity of the proposed transaction. Please provide us with your details or telephone so as to enable us to furnish you with comprehensive commercial conveyancing quote.
My uncle has urged me to appoint his lawyers for conveyancing in Lynton. Should I use them?
No doubt it’s preferable to choose a conveyancing lawyer is to seek feedback from friends or family who have actually experience in using the solicitor that you are contemplating using.