This question may be naive but I am new to the house moving as FTB of a garden flat in New Inn. Do I pick up the keys to the house on the completion date from my solicitor? If this is the case, I will instruct a High Street conveyancing solicitor in New Inn?
On the day of completion you do not need to attend the conveyancers office in New Inn. Conveyancing lawyers for you will electronically transfer the purchase money to the vendor’s conveyancers, and once they have received this, you should be able to pick up the keys from the selling Agents and move into your new home. Usually this happens between 1 and 3pm.
Are all New Inn Conveyancing Quality Solicitors on the Virgin Money conveyancing list of approved practices?
Some major lenders now utilise the accreditation scheme as the kick off point for Panel membership such as HSBC and Santander. The Law Society’s CQS membership however gives no guarantee to lender panel acceptance. That being said,the Council of Mortgage Lenders have indicated that it is likely to become a pre-requisite for solicitor practices wishing to join their approved list of firms.
I am purchasing a property in New Inn. A rare aspect is that the roof has a solar panel. Santander have issued a mortgage offer so presumably this is not a concern to them. Why is my solicitor raising questions about the panel?
Given that you are obtaining a mortgage with Santander your lawyer must follow the conveyancing instructions set out in Part 2 of UK Finance Lenders’ Handbook for Santander. The Council of Mortgage Lenders’ Handbook stipulates minimum requirements for solar panel roof-space leases, and conveyancers are required to report to Santander where a lease does not satisfy these provisions. The conditions relate to the installation of panels on properties in England and Wales and is not restricted to New Inn.
Do I need to pay for insurance to protect me from financial exposure to chancel repairs when acquiring a house in New Inn?
Unless a prior acquisition of the house completed after 12 October 2013 you could expect conveyancing practitioners delivering conveyancing in New Inn to remain recommending a chancel search and or chancel repair liability policy.
How does conveyancing in New Inn differ for newly converted properties?
Most buyers of new build property in New Inn contact us having been asked by the builder to sign contracts and commit to the purchase even before the house is completed. This is because builders in New Inn 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 conveyancing solicitors 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 New Inn or who has acted in the same development.
I've recently found out that there is a flying freehold issue on a house I put an offer in two weeks back in what was supposed to be a quick, no chain conveyancing. New Inn is the location of the property. Can you offer any advice?
Flying freeholds in New Inn are rare but are more likely to exist in relation to terraced houses. Even though you don't necessarily need a conveyancing solicitor in New Inn you would need to get your solicitor to go through the deeds thoroughly. Your bank may require your conveyancing solicitor to take out an indemnity policy. Some of the more diligent conveyancing solicitors in New Inn may determine that this is not enough and that the deeds be re-written to give you the most up to date legal protection. If so, the next door neighbour also had to sign up to the revised deeds.It is possible that your lender will not accept the situation so the sooner you find out the better. You should also check with your insurance broker as to whether they will insure a flying freehold residence.
My father-in-law has recommend that I appoint his conveyancing solicitors in New Inn. Should I find my own conveyancer?
There are no two ways about it it’s preferable to choose a conveyancing solicitor is to have recommendations from friends or relatives who have actually previously instructed the solicitor that you are contemplating using.
As a tenant I am on the hook for a maintenance fee for my flat in New Inn. As a result of poor financial planning I fell into arrears with payments. I negotiated a clearance plan but there is still three thousand pounds remaining to be paid.
I now wish to sell and I am worried this could hold me back if I have to settle the arrears in advance. I'd like to sell up and then pay them back with the proceeds - is this viable?
You should check with the conveyancer handling your New Inn conveyancing but one option might be to agree for the debt to be transferred to the buyers. The purchase price due would be adjusted to reflect the amount of debt they take on. They could then pay the outstanding monies after completion of the purchase.