I am in the process of selling my apartment in Belton and the EA has just text me to say that the buyers are switching property lawyer. The excuse is that the mortgage company will only engage with property lawyers on their approved list. On what basis would a big named mortgage company only work with certain law firms rather the firm that they want to choose to handle their conveyancing in Belton ?
Mortgage companies have always had an approved set of law firms that can act for them, but in recent years big names such as Nationwide, have reviewed and reduced their conveyancing panel– in some cases removing conveyancing firms who have represented them for decades.
Lenders blame a rise in fraud as the reason for the cull – criteria have been narrowed as a smaller panel is easier to oversee. No lender will say how many solicitors have been dropped, claiming the information is commercially sensitive, but the Law Society says it is hearing daily from firms that have been removed from panels. Some do not even realise they have been dropped until contacted by a borrower who has instructed them as might be the situation in your buyers' case. Your purchasers are not going to have any impact on this.
My wife and I purchasing a detached bungalow in Belton. The intention is to convert the garage to a playroom at the house.Will legal investigations on the property include checks to see if these works were previously refused?
Your conveyancer should check the deeds as conveyancing in Belton will on occasion identify restrictions in the title deeds which prohibit certain works or require the permission of another owner. Many works call for local authority planning permissions and approval in accordance building regulations. Some areas are designated conservation areas and special planning restrictions apply which often prevent or affect extensions. It would be sensible to check these issues with a surveyor before you commit yourself to a purchase.
I happen to be the only beneficiary of my late father’s will and I have everything in my name now, including the house in Belton. The Belton property was put into my name in December. I want to move. I understand that there is a CML six month 'rule', meaning my property ownership could be considered the same way as if I'd bought the house in December. Do I have to wait 6 months to sell?
The CML handbook instructs solicitors to: "report to us immediately if the owner or registered proprietor has been registered for less than six months." Technically you could be affected by that. many mortgage companies would take a practical view as this obligation is chiefly there to identify the purchase and immediately sell or the wholesaling and assigning of property.
Intending to buy a flat in Belton. I have received an online quote from a licenced conveyancer, which states: "There will be no charge for dealing with the Lender if you are obtaining a mortgage". I take this to mean that there will be no additional fee if the solicitor is on the Bank of Ireland conveyancing panel. I wanted to make sure it means there will be no additional fees for dealing with the mortgage.
They are simply saying that the cost for acting for the lender is included in the fee being quoted. It is worth you checking that the Belton lawyer is on the Bank of Ireland conveyancing panel.
Will our lawyer be making enquiries about flooding during the conveyancing in Belton.
Flooding is a growing risk for lawyers specialising in conveyancing in Belton. There are those who purchase a property in Belton, completely expectant that at some time, it may be flooded. However, leaving to one side the physical destruction, if a property is at risk of flooding, it may be difficult to get a mortgage, suitable insurance cover, or sell the premises. Steps can be carried out during the course of a property purchase to forewarn the buyer.
Solicitors are not qualified to give advice on flood risk, but there are a numerous searches that may be carried out by the buyer or by their lawyers which can give them a better appreciation of the risks in Belton. The standard completed inquiry forms supplied to a purchaser’s solicitor (where the Conveyancing Protocol is adopted) includes a usual inquiry of the vendor to determine if the premises has suffered from flooding. If the residence has been flooded in past and is not revealed by the seller, then a purchaser could bring a compensation claim resulting from an misleading response. The purchaser’s lawyers may also carry out an enviro report. This will disclose whether there is any known flood risk. If so, more detailed inquiries should be carried out.
Are there restrictive covenants that are commonly identified as part of conveyancing in Belton?
Covenants that are restrictive in nature can be picked up when reviewing land registry title as part of the process of conveyancing in Belton. 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…’
The estate agent has sent us the confirmation of our purchase of a new build flat in Belton. Conveyancing is daunting at the best of times but I have never purchased a new build flat before. Can you give me some examples of some of the questions asked in new build conveyancing.
Set out below is a sample of a few leasehold new build enquiries that you can expect your new-build leasehold conveyancing in Belton
-
Investor purchasers must be able to freely grant unsecured tenancies at market rents without requiring any consents. Please supply a car parking plan. Where service of notices and proceedings can be at the property demised please confirm that this can be amended to include simultaneous services at the Lessees’ solicitors’ offices where the Lessee from time to time is not resident in the UK - such solicitors may be varied by notice in writing to the Landlord from time to time but otherwise will be as previously specified. Forfeiture - bankruptcy or liquidation must not apply under this provision.
I've recently found out that there is a flying freehold element on a property I have offered on a fortnight ago in what should have been a straight forward, chain free conveyancing. Belton is where the house is located. Is there any advice you can give?
Flying freeholds in Belton are rare but are more likely to exist in relation to terraced houses. Even though you don't necessarily need a conveyancing solicitor in Belton you would need to get your solicitor to go through the deeds very carefully. Your mortgage company may require your conveyancing solicitor to take out an indemnity policy. Some of the more diligent conveyancing solicitors in Belton 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.