I'm the single recipient of my late father’s will with all property in now in my sole name, including the house in Rochester. The Rochester property was put into my name in June. I plan to dispose of the property. I understand that there is a Mortgage Lenders 6 month 'rule', which means that my proprietorship may be considered the same way as if I'd bought the property in June. Do I have to wait half a year to sell?
The CML handbook requires solicitors to: "report to us immediately if the owner or registered proprietor has been registered for less than six months." Technically you might be affected by that. How practical a view banks take of it, depend on the mortgage company as this obligation chiefly exists to pick up on subsales or the quick reselling of property.
We have a mortgage agreed in principle with Leeds Building Society. Rochester conveyancing lawyers are chosen. How long does it take for Leeds Building Society to issue the offer to the conveyancer?
There is no definitive answer here. Have Leeds Building Society done the valuation? Have you informed Leeds Building Society as to your lawyers' details and checked that your lawyers are on the Leeds Building Society conveyancing panel? It is not unusual for a mortgage offer to take a month to come through.
I am currently in the process of buying my council flat in Rochester. I have a mortgage agreed with RBS. Conveyancing is new to me. Can I proceed without a solicitor easily? I think we can but we keep being told I should use one. Any advice?
It is not advisable to proceed with a house purchase without a solicitor. The council's solicitor are not acting for you. You need a solicitor for a number reasons. One of which is to verify what plans the Council have for repairs and refurbishment for the next five years. Many leaseholders have been stung for contributions of thousands of pounds. In any event, if you are getting a mortgage with RBS, you will need to appoint a solicitor on the RBS conveyancing panel.
How does conveyancing in Rochester differ for new build properties?
Most buyers of new build premises in Rochester approach us having been asked by the builder to exchange contracts and commit to the purchase even before the property is finished. This is because builders in Rochester tend to buy the site, plan the estate and want to get the plots sold off as they are building the properties. Buyers, therefore, will have to exchange contracts without actually seeing the house they are buying. To reduce the chances of losing the property, buyers should instruct property lawyers as soon as the property is reserved and mortgage applications should be submitted quickly. Due to the fact that it could be several months and even years between exchange of contracts and completion, the mortgage offer may need to be extended. It would be wise to use a lawyer who specialises in new build conveyancing especially if they are used to new build conveyancing in Rochester or who has acted in the same development.
Due to the advice of my in-laws I had a survey completed on a property in Rochester in advance of retaining solicitors. I have been advised that there is a flying freehold element to the house. My surveyor advised that some banks tend not issue a loan on this type of premises.
It varies from the lender to lender. HSBC has different instructions from Halifax. If you e-mail us we can investigate further via the relevant lender. If you lender is happy to lend one our lawyers can help as they are used to dealing with flying freeholds in Rochester. Conveyancing may be slightly more expensive based on your lender's requirements.
Hoping to buy a property located in Rochester and I am already nervous. I couldn't find anything specific about Rochester. Conveyancing will be needed in due course but do you know about the Rochester area? or perhaps some other tips you can share?
Rather than looking online forget looking online you should go and have a look at Rochester. In the meantime here are some basic statistics that we found
I’m about to sell my 2 bed apartment in Rochester. Conveyancing has not commenced, but I have just had a yearly maintenance charge demand – what should I do?
It best that you discharge the maintenance contribution as usual as all ground rent and service charges should be allotted on completion, so you should recover the relevant percentage by the buyer for the period running from after the completion date to the next payment date. Most management companies will not acknowledge the buyer until the service charges have been paid and are up to date, so it is important for both buyer and seller for the seller to show that they are up to date. Having a clear account will assist your cause and will leave you no worse off financially.
Leasehold Conveyancing in Rochester - Examples of Queries Prior to Purchasing
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Are there any major works anticipated that will increase the service fees? Best to be warned whether window replacement or some other major work is due shortly to be shared by the leaseholders and may well materially impact the level of the maintenance charges or necessitate a specific payment. Is the freehold reversion owned collectively by the leaseholders?
We are midway through buying a house in Rochester. Conveyancing lawyer has told us the property is "Leasehold". Should this adversely affect the marketability of the house?
Rochester conveyancing does not ordinarily involve leasehold houses. The crucial factor here is the unexpired lease term and the ground rent. If it's 999 years with a nominal rent, it's virtually freehold, so it’s unlikely to affect the value too much.
At the other extreme, if it's, say, 50 years it will have a adverse impact on the value, and most likely wouldn't be acceptable to the mortgage company. The length of lease and ground rent will be specified in the lease which should be made available to your solicitor.