Completed the sale of my flat in Coleford last June yet the purchaser is e-mailing daily complaining that their conveyancer is waiting to hear from mine. What are the post completion sale formalities now that I have sold?
Following your disposal your conveyancer is obliged to deliver the transfer deeds and all supplemental paperwork to the buyer’s conveyancer. Where appropriate, your lawyer should also send confirmation that the legal charge in favour of the lender has been redeemed to the purchasers solicitors. There are no post completion tasks unique to conveyancing in Coleford.
I'm the sole recipient of my late grandmother’s will and I have everything in my name alone, including the house in Coleford. Conveyancing formalities meant that the Land Registry date was in June. I plan to dispose of the property. I understand that there is a Mortgage Lenders six month 'rule', meaning my property ownership may be regarded the same way as if I'd bought the house in June. Is the property unsalable for six months?
The Council of Mortgage Lenders’ handbook requires conveyancers to: "report to us immediately if the owner or registered proprietor has been registered for less than six months." Technically you might be impacted by that. many lenders would take a sensible view as this obligation is chiefly there to pick up on subsales or the wholesaling and assigning of properties.
Is it the case that all Coleford conveyancing solicitors on the HSBC conveyancing panel are regulated by the SRA?
As a firm of solicitors, in order to be on the HSBC conveyancing panel they would need to be governed by the Solicitors Regulatory Authority. The majority of lenders do allow licenced conveyancers on their panel and in such a situation the organisation would be governed by the Council of Licensed Conveyancers.
Having read lots of house buying guides, I note that it is considered advisable to get your house surveyed prior to buying it. When I asked my local Coleford solicitor - who is on the UBS conveyancing panel - on this she said they don't do this and I need to contract an independent surveyor. Is that normal?
UBS will need an independent valuation of the property. Your lawyer will not arrange this. Usually UBS will appoint their own surveyor to do this, and you will have to pay for it. Remember that this is a valuation for mortgage purposes and not a survey. Your property lawyer will not organise the survey but they may be able to put you in touch with a local one that they recommend. RICS offers a find a surveyor service (just google it) where you can search for a qualified surveyor by your Coleford postcode. As you are getting a mortgage with UBS, you could contact them to see if they have a list of approved surveyors in Coleford.
The deeds to our property can not be found. The lawyers who handled the conveyancing in Coleford 5 years ago have long since closed. What are my next steps?
In today’s world there are copies made of almost everything, and your conveyancer will be aware precisely where to find all the relevant documentation so you can buy or dispose of your house without any difficulty. Where copies can’t be found, your solicitor can arrange cover in the form of insurance or indemnities protecting you against possible claims on the premises.
How does conveyancing in Coleford differ for newly converted properties?
Most buyers of new build property in Coleford approach us having been asked by the developer to exchange contracts and commit to the purchase even before the house is constructed. This is because house builders in Coleford usually purchase the site, plan the estate and want to get the plots sold off as they are building the properties. Buyers, therefore, will have to exchange contracts without actually seeing the house they are buying. To reduce the chances of losing the property, buyers should instruct conveyancing solicitors as soon as the property is reserved and mortgage applications should be submitted quickly. Due to the fact that it could be several months and even years between exchange of contracts and completion, the mortgage offer may need to be extended. It would be wise to use a lawyer who specialises in new build conveyancing especially if they are accustomed to new build conveyancing in Coleford or who has acted in the same development.
I own a leasehold flat in Coleford. Conveyancing and The Mortgage Works mortgage went though with no issue. I have received a letter from someone saying they have taken over the reversionary interest in the property. Attached was a ground rent demand for rent dating back to 1996. The conveyancing practitioner in Coleford who previously acted has long since retired. Any advice?
The first thing you should do is contact HMLR to make sure that this person is indeed the registered owner of the freehold reversion. You do not need to instruct a Coleford conveyancing solicitor to do this as you can do this on the Land Registry website for £3. You should note that regardless, even if this is the rightful freeholder, under the Limitation Act 1980 the limitation period for recovery of ground rent is six years.
I bought a basement flat in Coleford, conveyancing having been completed in 2000. How much will my lease extension cost? Corresponding flats in Coleford with an extended lease are worth £181,000. The average or mid-range amount of ground rent is £55 invoiced every year. The lease ends on 21st October 2077
You have 51 years left to run the likely cost is going to span between £30,400 and £35,200 as well as plus your own and the landlord's "reasonable" professional fees.
The figure above a general guide to costs for extending a lease, but we are not able to supply a more accurate figure without more comprehensive due diligence. You should not use this information in a Notice of Claim or as an informal offer. There are no doubt additional issues that need to be considered and you obviously want to be as accurate as possible in your negotiations. You should not take any other action placing reliance on this information without first seeking the advice of a professional.
Do I cancel my mortgage payments with TSB once a completion date for my home sale in Coleford has been agreed?
You would be well advised to maintain paying any mortgage payments to TSB pending the mortgage being repaid out of the proceeds of sale as part of your Coleford conveyancing.