I am acquiring a house for cash in Castle Donington. I have resided for the previous twelve years in Castle Donington. Conveyancing searches are a lot of money. As I have knowledge of the area and road very well should I not bother getting the solicitor to do all the conveyancing searches?
In the absence of a mortgage, then all but one or two of the Castle Donington conveyancing searches are non-obligatory. Your conveyancer will ’encourage you, no-doubt strongly, that you should have searches completed, but he is duty bound to do this. One thing to consider; if you are intend to dispose of the house in the future, it will likely be be of relevance to your prospective buyer what the searches contain. Sometimes premises with day to day issues can still reveal detrimental search results. A good conveyancing solicitor in Castle Donington will be able to give you some practical guidance concerning this.
Why do I have to pay up front when it comes to conveyancing in Castle Donington?
If you are buying a property in Castle Donington your solicitor will request that you to provide them with monies to cover the search fees. Generally this is called for to cover the fees of the conveyancing searches. If any down payment is payable against the sale price then this will be required shortly in advance of contracts are exchanged. Any further balance that is due should be transferred shortly before completion.
My uncle passed away 10 months ago and as sole heir and executor I was left the property in Castle Donington. The house had a relatively small loan remaining of approximately £5k. I want to have the title changed into my name whilst I re-mortgage to TSB, pay off the mortgage. Is this possible?
Where you intend to refinance then TSB will require that you use a conveyancer on the TSB conveyancing panel. Here is link to the Land Registry online guidance around what to do when a property owner dies. This will help you to understand the registration process behind changing the details re the registered title. in your case it would appear that you are effectively purchasing the property from the estate. Your TSB conveyancing panel solicitor pays the new mortgage money into the estate, the estate pays off the old mortgage, the charge is released and you become the owner and the TSB mortgage is registered as a charge at the Land Registry.
Is it the case that all Castle Donington CQS (Conveyancing Quality Scheme) solicitors are on the Santander conveyancing panel?
It is true that some banks and building societies now make use of CQS as the starting point for Panel membership such as HSBC and Santander. The Law Society’s CQS membership however gives no guarantee to lender panel acceptance. Nevertheless,the Council of Mortgage Lenders have indicated that it is likely to become a pre-requisite for firms wishing to remain on their approved list of firms.
When it comes to mortgage companies such as Kent Reliance, do Castle Donington property lawyers face an annual charge to be on the list of approved solicitors?
We are unaware of any lender fees to be on their panel, although some do charge an administration fee to deal with the processing of the conveyancing panel application.
Is it the case that all Castle Donington solicitor practices on the Barclays conveyancing panel are regulated by the SRA?
As solicitors, in order to be on the Barclays approved list of solicitors they would need to be overseen by the SRA. Some banks do list licenced conveyancers on their panel in which case such firms would be governed by the Council of Licensed Conveyancers.
Are there restrictive covenants that are commonly identified as part of conveyancing in Castle Donington?
Covenants that are restrictive in nature can be picked up when reviewing land registry title as part of the process of conveyancing in Castle Donington. 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…’
I've recently found out that there is a flying freehold element on a house I have offered on two weeks back in what was supposed to be a simple, chain free conveyancing. Castle Donington is where the house is located. Can you offer any guidance?
Flying freeholds in Castle Donington are unusual but are more likely to exist in relation to terraced houses. Even where you use a solicitor outside Castle Donington you would need to get your solicitor to go through the deeds diligently. Your lender may require your conveyancing solicitor to take out an indemnity policy. Some of the more diligent conveyancing solicitors in Castle Donington may decide 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 premises.