We were just about to sign contracts for a property in Liskeard. We encountered a stumbling block. Our mortgage offer with Coventry Building Society expires on 21/1/2025 but the vendors are putting forward a completion date of 23/1/2025. Can one extend the mortgage expiry date?

The person best placed to address this concern is your conveyancer who is in a position to determine if they should be discussing with the mortgage broker, owner’s representatives, estate agents or possibly all parties taking into account the circumstances your house move to date.

I am told that my conveyancing solicitors will need to check that the building insurance for my purchase of a house in Liskeard. My lender is Accord Mortgages

Accord Mortgages have specific requirements as set out in the UK Finance Lenders’ Handbook. As of 21/11/2024, the requirements read as follows :

I'm the single recipient of my late mum's estate with all property in now in my sole name, including the my former home in Liskeard. The Liskeard property was put into my name in October. I plan to dispose of the property. I do know about the CML 6 month 'rule', which means that my property ownership could be considered the same way as if I'd bought the house in October. Do I have to wait half a year to sell?

The CML handbook requires 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 may be impacted by that. Most mortgage companies would take a practical view as this provision principally exists to capture the purchase and immediately sell or the quick reselling of property.

I had a mortgage agreed in principle with Nationwide. Liskeard conveyancing solicitors are chosen. What is the average time that one could expect to receive a mortgage offer from Nationwide?

Some lenders take longer than others. Have Nationwide done the survey? Have you advised Nationwide as to your lawyers' details and checked that your lawyers are on the Nationwide conveyancing panel? It is not unusual for a mortgage offer to take a month to come through.

I can not work out if my lender obliges me to make sure the lease term for the flat is extended prior to the completion date. I have called my Liskeard bank branch on a couple of occasions and was informed it wasn't a problem and they will lend. My Liskeard conveyancing solicitor - who is on the lender conveyancing panel- telephoned to say that they would not lend in accordance with their specific requirements. Who do I believe?

The property lawyer has to comply with the CML Handbook Part 2 specifications for your lender. Unless your lawyer obtains specific confirmation in writing that the bank will go ahead, your lawyer has no choice but to refrain from exchanging contract and committing you to the purchase. We would suggest that you ask the lender to contact your lawyer in writing confirming that they will accept the number of years left on the lease.

Will our conveyancer be making enquiries about flooding as part of the conveyancing in Liskeard.

The risk of flooding is if increasing concern for solicitors conducting conveyancing in Liskeard. There are those who acquire a house in Liskeard, completely aware that at some time, it may be flooded. However, leaving to one side the physical destruction, where a house is at risk of flooding, it may be difficult to obtain a mortgage, satisfactory insurance cover, or dispose of the property. Steps can be carried out during the course of a house purchase to forewarn the buyer.

Solicitors are not best placed to offer advice on flood risk, however there are a number of checks that may be carried out by the purchaser or by their conveyancers which can give them a better appreciation of the risks in Liskeard. The conventional set of information given to a buyer’s lawyer (where the solicitors are adopting what is known as the Conveyancing Protocol) incorporates a standard question of the vendor to determine whether the property has ever been flooded. In the event that the premises has been flooded in past which is not disclosed by the seller, then a buyer could commence a claim for damages as a result of such an inaccurate answer. The buyer’s lawyers will also commission an enviro report. This will indicate if there is any known flood risk. If so, more detailed investigations should be conducted.

I have recently realised that I have Sixty One years remaining on my flat in Liskeard. I now wish to extend my lease but my freeholder is missing. What are my options?

On the basis that you meet the appropriate requirements, under the Leasehold Reform, Housing and Urban Development Act 1993 you can submit an application to the County Court for for permission to dispense with the service of the initial notice. This will mean that your lease can be granted an extra 90 years by the Court. You will be obliged to prove that you have made all reasonable attempts to find the lessor. In some cases an enquiry agent would be useful to try and locate and to produce an expert document to be used as evidence that the landlord is indeed missing. It is advisable to get professional help from a conveyancer both on devolving into the landlord’s disappearance and the application to the County Court overseeing Liskeard.

Liskeard Leasehold Conveyancing - A selection of Queries Prior to buying

Its a good idea to discover as much as you can concerning the managing agents as they will impact your use and enjoyment of the property. As the owner of a leasehold property you are frequently in the clutches of the managing agents from a financial perspective and when it comes to practical matters like the upkeep of the communal areas. Enquire of other people whether they are happy with them. In conclusion, find out the dates that you are obliged pay the service charge to the relevant party and precisely what it includes. Who are the managing agents? The majority of Liskeard leasehold apartments will have a service charge for maintenance of the block invoiced by the freeholder. If you acquire the property you will have to meet this amount, normally in instalments during the year. This may be anything from two or three hundred pounds to thousands of pounds for bigger purpose-built buildings. There will also be a rentcharge for you to pay yearly, this is usually not a significant figure, say approximately £25-£75 but you should to enquire as on occasion it could be many hundreds of pounds.