I am under pressure from the mortgagee in possession of a property in Cookley to sign contracts within four weeks. What can I do to expedite matters?
First, If the seller is applying pressure for your conveyancing it is advisable to make sure that your conveyancer is familiar with the area as they will benefit local contacts and knowledge. It is even conceivable that they could have conducted otherhomes in the same road. Therefore consider using a Cookley conveyancing lawyer. Second, make sure that the conveyancing firm is on the member panel. It is said that nearly one in five of Cookley conveyancing transactions are suspended or derailed after finding out that a buyer’s conveyancer was not on their mortgage lender’s list of approved solicitors. This can often result in the transaction being held up by as much as three weeks. It is estimated that this issue affects in the region of 100,000 home sales annually. Almost all Cookley conveyancing firms can not act for certain mortgage companies so do check at the outset.
My wife and I are at the point of looking at flats in Cookley and I am about to put in an offer. Is it best to have my property lawyer on ‘stand by’? I intend to finance via a mortgage with Clydesdale.
You should start obtaining conveyancing quotes from solicitors ASAP. Once you decide who you want to use and once your offer is accepted you can instruct them to work for you and pass their contact information on to the estate agent. As you are taking out a mortgage with Clydesdale, make sure you remember to check that your lawyer is on the Clydesdale conveyancing panel.
I have today made my last payment due on my mortgage with HSBC. I assume I don't need a Cookley property lawyer on the HSBC panel to remove the mortgage at the Land Registry. Please confirm.
If you have finished paying off your HSBC mortgage, they may send you evidence showing that you have paid it off. Alternatively they may notify the Land Registry directly. The Land Registry need to see this evidence before they will remove the HSBC mortgage from the register. HSBC, and any evidence they send you, will determine the action you need to take. In cases where no conveyancer is acting for you and you have paid off your mortgage:
- but are not moving to another property
- where HSBC has sent the Land Registry the discharge electronically, and
- HSBC has instructed the Land Registry to do so
I am due to exchange contracts on my house. I had a double glazing fitted in August 2006, but did not receive a FENSA certificate or Building Regulation Certificate. My buyer's lender, Principality are being a right pain. The Cookley solicitor who is on the Principality conveyancing panel is recommending indemnity insurance as a solution but Principality are requiring a building regulation certificate. Why do Principality have a conveyancing panel if they don't accept advice from them?
It is probably the case that Principality have referred the matter to their valuer. The reason why Principality may not want to accept indemnity insurance is because it does not give them any reassurance that the double glazing was correctly and safely installed. The indemnity insurance merely protects against enforcement action which is very unlikely anyway.
I used Stirling Law a few years past for my conveyancing in Cookley. I now require my file however the law firm has closed. What do I do?
Do contact the Solicitors Regulatory Authority (SRA) to help locate your conveyancing files. They can be contacted on please contact on 0870 606 2555. Alternatively, you should use their online form to make an enquiry. You will need to provide the SRA with as much information as possible to assist their search, including the name and address in Cookley of the conveyancing firm of solicitors you previously retained, the name of conveyancing solicitor with whom you had dealings, and the date on which you last had dealings with the firm.
How does conveyancing in Cookley differ for newly converted properties?
Most buyers of new build or newly converted property in Cookley come to us having been asked by the builder to exchange contracts and commit to the purchase even before the house is completed. This is because new home sellers in Cookley 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 Cookley or who has acted in the same development.
Yesterday I discovered that there is a flying freehold issue on a property I have offered on a fortnight ago in what was supposed to be a straight forward, no chain conveyancing. Cookley is the location of the property. Can you offer any guidance?
Flying freeholds in Cookley are unusual but are more likely to exist in relation to terraced houses. Even though you don't necessarily need a conveyancing solicitor in Cookley you must be sure that your lawyer goes 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 Cookley may determine 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 residence.
Do you have any advice for leasehold conveyancing in Cookley from the point of view of speeding up the sale process?
- Much of the frustration in leasehold conveyancing in Cookley can be bypassed where you appoint lawyers the minute you market your property and request that they start to collate the leasehold information needed by the purchasers’ representatives. You may think that you are aware of the number of years remaining on your lease but it would be wise to verify this by asking your solicitors. A purchaser's conveyancer will not be happy to advise their client to proceed with the purchase of a leasehold property the remaining number of years is below 80 years. It is therefore important at an early stage that you identify whether the lease term requires a lease extension. If it does, contact your solicitors before you put your property on the market for sale. If you are supposed to have a share in the Management Company, you should make sure that you have the original share certificate. Obtaining a replacement share certificate is often a time consuming formality and slows down many a Cookley conveyancing deal. If a new share certificate is necessary, you should approach the company director and secretary or managing agents (if relevant) for this sooner rather than later. If you have had conflict with your freeholder or managing agents it is very important that these are settled prior to the flat being marketed. The buyers and their solicitors will be nervous about purchasing a flat where a dispute is unresolved. You will have to accept that you will have to discharge any arrears of service charge or settle the dispute prior to completion of the sale. It is therefore preferable to have any dispute settled ahead of the contract papers being issued to the buyers’ solicitors. You will still have to reveal details of the dispute to the purchasers, but it is better to present the dispute as historic as opposed to unresolved. In the event that you altered the property did you need the Landlord’s permission? In particular have you laid down wooden flooring? Cookley leases often stipulate that internal structural alterations or laying down wooden flooring require a licence from the Landlord consenting to such works. If you dont have the consents to hand you should not communicate with the landlord without checking with your conveyancer first.
Leasehold Conveyancing in Cookley - A selection of Questions you should consider Prior to buying
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Where a Cookley lease has fewer than eighty years it will affect the value of the property. It is worth checking with your lender that they are willing to go ahead with the loan given the lease term. Leases with less than 80 years remaining means that you will most likely require a lease extension sooner rather than later and it is worth discovering how much this will be. For most Cookleylease extensions you will be required to have owned the residence for two years before you are entitled to extend the lease. Are any of leasehold owners in dispute over their service charge payments? It would be a good idea to discover if the the lease contains any onerous restrictions in the lease. For example it is very common in Cookley leases that pets are not allowed in certain buildings in Cookley. If you love the apartmentin Cookley but your dog can’t move with you then you have a very difficult choice.