Finally the sale completed on my house in Bodfari last July yet the purchaser is telephoning me complaining that their lawyer needs to hear from mine. What should have happened following completion?
After completion of your sale your solicitor is duty bound to deliver the transfer documentation and all of the paperwork to the purchaser's solicitors. Where relevant, your conveyancer should also confirm that the home loan has been discharged to the buyers conveyancers. There are no post completion tasks specific conveyancing in Bodfari.
A relative advised me that in purchasing a property in Bodfari there could be a number of restrictions affecting the ability to carry out external alterations to the property. Is this right?
There are a number of properties in Bodfari which have some sort of restriction or requirement of consent to carry out external alterations. Part of the conveyancing in Bodfari should determine what restrictions are applicable and advising you as part of a ROT that should be sent to you.
I'm the single recipient of my late father’s estate with all property in now in my sole name, including the my former home in Bodfari. The Bodfari property was put into my name in November. I want to move. I do know about the Mortgage Lenders six month 'rule', which means that my property ownership will be treated the same way as if I'd bought the property in November. Is the property unsalable for six months?
The Council of Mortgage Lenders’ handbook instructs conveyancers to: "report to us immediately if the owner or registered proprietor has been registered for less than six months." Technically you might be caught by that. Most banks would take a pragmatic view as this requirement principally exists to capture the purchase and immediately sell or the quick reselling of property.
Is it the case that all Bodfari solicitors on the Leeds Building Society conveyancing panel are regulated by the Solicitors Regulatory Authority?
As a firm of solicitors, in order to be on the Leeds Building Society conveyancing panel they would need to be governed by the Solicitors Regulatory Authority. Many lenders do allow licenced conveyancers on their panel in which case such organisation would be governed by the Council of Licensed Conveyancers.
I have recentlybeen informed that Wolstenholmes have been shut down. They carried out my conveyancing in Bodfari for a purchase of a freehold house 12 months ago. How can I establish that the property is in my name in the name of the previous owner?
The easiest method to see if the premises is in your name, you can make a search of the land registry (£3.00). You can either do this yourself or ask a law firm to do this for you. If you are not registered you can seek help from one of a number of Bodfari conveyancing specialists.
I am purchasing a new build house in Bodfari with a mortgage from National Westminster Bank. The builders refused to budge the amount so I negotiated five thousand pounds worth of additionals instead. The property agent advised me not inform my conveyancer about the extras as it will put at risk my mortgage with the bank. Do I keep my lawyer in the dark?.
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 flat up to £235,500 and found one round the corner in Bodfari I like with amenity areas and transport links nearby, however it's only got 52 years unexpired on the lease. I can't really find anything else in Bodfari in this price bracket, so just wondered if I would be making a mistake acquiring a lease with such few years left?
If you need a home loan that many years may be problematic. Discount the price by the anticipated lease extension will cost if not already taken into account. If the existing owner has owned the property for at least 2 years you could request that they start the process of the extension and then assign it to you. You can add 90 years to the existing lease with a zero ground rent applied. You should consult your conveyancing lawyer about this matter.
I have been advised by a number of selling agents in Bodfari to get a quote from a conveyancer on your site. Is there a financial inducement for Estate Agents to offer your site over and above a competitor’s?
We don’t give any financial incentive for sending work in our direction. We thought it would be too underhand to pay a commission because a client could think, ‘Why is the agent getting a kickback? Why am I not receiving any benefit too?’ We would prefer to grow our business on genuine recommendations.