Having sold my house in Billesdon last March but our buyer keeps texting daily complaining that their solicitor is waiting to hear from mine. What are the post completion sale legalities following completion?
Following your disposal your lawyer should deliver the transfer documentation and all of the paperwork to the buyer’s lawyers. If applicable, your conveyancer must also evidence that the home loan has been paid off to the purchasers solicitors. There are no post completion formalities specific conveyancing in Billesdon.
What is the optimum way to check that the solicitor carrying out my conveyancing in Billesdon is on the mortgage lender’sconveyancing panel? I am looking to avoid the situation of having one lawyer for me and one for Norwich and Peterborough Building Society thus paying £187.00 plus VAT in further legal invoice.
You should take advantage of the search tool on this web page. Please choose the lender and type ‘Billesdon’ or your preferred area and you will see numerous solicitors offices in Billesdon or by proximity to you.
Are all Billesdon Conveyancing Quality Solicitors on the Principality conveyancing list of approved firms?
It is true that some lenders now make use of the accreditation scheme as the kick off point for Panel membership such as HSBC and Santander. CQS membership however is no guarantee to lender panel acceptance. Nevertheless,the CML have indicated that it is likely to become a pre-requisite for firms wishing to remain on their approved list of firms.
is it true that all Billesdon solicitors on the Co-operative conveyancing panel are overseen by the SRA?
As solicitors, in order to be on the Co-operative conveyancing panel they would need to be governed by the SRA. The majority of banks do permit licenced conveyancers on their panel in which case such organisation would be overseen by the Council of Licensed Conveyancers.
I can not fathom if my mortgage offer requires a lease extension. I have called my Billesdon building society branch on a couple of occasions and was advised it wasn't a problem and they would lend. My Billesdon conveyancing solicitor - who is on the bank conveyancing panel- called and was told they would not lend based on their specific requirements. I have no idea who is right.
As long as the solicitor is on the lender panel, they must comply with the CML Handbook provisions for the 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 lender to contact your lawyer in writing confirming that they will accept the number of years remaining.
My wife and I purchased a renovated Victorian house in Billesdon. Conveyancing solicitor represented me and HSBC Bank. I happened to do a free search for it on the Land Registry database and there are two entries: the first freehold, the second leasehold with the exact same address. If a house is not a freehold shouldn't I have been informed?
You need to 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 owner of the leasehold and freehold title as well is to check (£3). It is not completely unheard of in Billesdon and other locations in the country and poses no real issues for owners other than when they sell they have to account for both freehold and leasehold interests when dealing with buyers. You can also enquire as to the position with the conveyancing lawyer who conducted the work.
I am buying a new build house in Billesdon benefiting from help to buy. The sellers refused to move on the amount so I negotiated five thousand pounds worth of extras instead. The property agent told me not disclose to my conveyancer about the side-deal as it would impact my loan with the lender. Is this normal?.
All lenders require a Disclosure of Incentives Form from the builder of any new build, converted or renovated property, It is available online from the Lenders’ Handbook page on the CML website. CML form is completed and handed to the lender's surveyor when the inspection is done.
Lenders have different policies on incentives. Some accept none at all, cash or physical, while others will accept cash incentives up to 5%.
Hard to understand why the representative of a builder would be suggesting you withold information from a solicitor when all this will be clearly visible on forms the builder has to supply to its solicitor, the buyer's solicitor and the surveyor.
I have been on the look out for a leasehold apartment up to £235,500 and found one close by in Billesdon I like with open areas and station nearby, however it only has 51 remaining years left on the lease. I can't really find anything else in Billesdon suitable, so just wondered if I would be making a mistake purchasing a short lease?
Should you need a mortgage the remaining unexpired lease term may be a potential deal breaker. Reduce the price by the anticipated lease extension will cost if it has not already been discounted. If the existing owner has owned the property for at least 2 years you can ask them to commence the lease extension formalities and pass it to you. An additional ninety years can be extended on to the existing lease term with a zero ground rent applied. You should speak to your conveyancing solicitor about this matter.