I am the single recipient of my late father’s will and I have everything in my name now, including the house in Barry. Conveyancing formalities meant that the Land Registry date was in November. I now wish to sell up. I do know about the Mortgage Lenders 6 month 'rule', which means that my property ownership will be treated the same way as though I had purchased the property in November. Is the property unsalable for six months?
The Council of Mortgage Lenders’ handbook requires solicitors to: "report to us immediately if the owner or registered proprietor has been registered for less than six months." Technically you may be affected by that. How sensible a view mortgage companies take of it, depend on the bank as this clause principally exists to identify subsales or the quick reselling of property.
When it comes to lenders such as Aldermore, do Barry property lawyers incur a fee to be on the list of approved solicitors?
We are not aware of any lender fees to register on their panel, although some do charge an administration charge to deal with the processing of the conveyancing panel submission.
I can not work out if my mortgage offer obliges me to make sure the lease term for the flat is extended prior to the completion date. I have called my Barry building society branch on numerous occasions and was told it wasn't a problem and they will lend. My Barry conveyancing solicitor - who is on the lender conveyancing panel- called to say that they would not lend in accordance with their UK Finance Lenders’ Handbook minimum lease term requirements. Who do I believe?
The conveyancing practitioner must comply with the Council of Mortgage Lenders’ Handbook section two conditions for your lender. Unless your lawyer obtains specific confirmation in writing that the lender 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 mortgage company to contact your lawyer in writing confirming that they will accept the number of years remaining.
Will commercial conveyancing searches disclose impending roadworks that could affect a commercial premises in Barry?
Many commercial conveyancing solicitors in Barry will execute a SiteSolutions Highways report as it dramatically cuts the time that conveyancers invest in looking into accurate data on highways that impact buildings and development assets in Barry. The search result sets out definitive data on the adoption status of roads, footpaths and verges, as well as the implication of traffic schemes and the rights of way surrounding a commercial development sites in Barry.
For each commercial conveyancing transaction in Barry it is critical to investigate the adoption status of roads surrounding a site. Failure to identify developments where adoption procedures have not been dealt with adequately may result in delays to Barry commercial conveyancing deals as well as present a risk to future intentions for the site. These searches are not conducted for residential conveyancing in Barry.
I purchased a 4 bedroom Victorian property in Barry. Conveyancing practitioner represented me and Nottingham Building Society. I did a free Land Registry search last week and there are a couple of entries: the first freehold, the second leasehold with the exact same address. I thought I was buying a freehold how can I check?
You should assess the Freehold register you have again and check the Charges Register as there may be mention of a lease. The best way to be sure that you are also the registered proprietor of the leasehold and freehold title as well is to check (£3). It is not completely unheard of in Barry and other areas of the country and poses no real issues for owners other than when they buy they have to account for both freehold and leasehold interests when dealing with mortgage companies. You can also enquire as to the position with your conveyancing practitioner who conducted the conveyancing.
I've recently found out that there is a flying freehold issue on a property I have offered on last month in what was supposed to be a straight forward, no chain conveyancing. Barry is where the house is located. Is there any guidance you can impart?
Flying freeholds in Barry are rare but are more likely to exist in relation to terraced houses. Even where you use a solicitor outside Barry you must be sure that your lawyer goes 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 Barry may ascertain 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 property.
I need to appoint a conveyancing solicitor for sale conveyancing in Barry. I have stumble upon a site which looks to be the ideal solution If there is a chance to get all formalities completed via phone that would be preferable. Should I be wary? What are the potential pitfalls?
As usual with these online conveyancers you need to read ALL the small print - did you notice the extra charge for dealing with the mortgage?
I have just appointed agents to market my ground floor apartment in Barry. Conveyancing solicitors are to be appointed soon, but I have just received a quarterly maintenance charge invoice – should I leave it to the buyer to sort out?
Your conveyancing lawyer is likely to suggest that you should pay the maintenance contribution as normal given that all rents 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. This will smooth the conveyancing process.
Leasehold Conveyancing in Barry - Examples of Queries Prior to buying
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Is the freehold owned collectively by the leaseholders? The answer will be important as a) areas could result in problems in the building as the communal areas may begin to deteriorate if repairs are not paid for b) if the leaseholders have an issue with the running of the building you will need to know about it Are any of leasehold owners in dispute over their service charge payments?