Forgive me if this question is silly but I am unseasoned as a 1st time purchaser of a two bedroom flat in Cotswolds. Do I receive the keys to the property on completion from my solicitor? If this is the case, I will instruct a local conveyancing solicitor in Cotswolds?
There is no need to visit the lawyers office on the day of completion. Your solicitors will electronically transfer the completion advance to the vendor’s solicitors, and shortly after the monies have arrived, you should be called to receive the keys from the selling Agents and move into your new home. This tends to happen early afternoon.
I'm the only recipient of my late father’s will with all property in now in my sole name, including the my former home in Cotswolds. The Cotswolds property was put into my name in November. I now wish to sell up. I understand that there is a Mortgage Lenders 6 month 'rule', which means that my proprietorship may be considered the same way as though I had purchased the property in November. Is the property unsalable for six months?
The CML handbook instructs solicitors to: "report to us immediately if the owner or registered proprietor has been registered for less than six months." By the strict wording you could be caught by that. How sensible a view lenders take of it, depend on the mortgage company as this requirement principally exists to capture subsales or the wholesaling and assigning of property.
Two weeks ago we had a mortgage agreed in principle with Bank of Ireland. Cotswolds conveyancing practitioners have been appointed. How long does it take for Bank of Ireland to forward the offer to the lawyer?
Some lenders take longer than others. Have Bank of Ireland completed the valuation? Have you informed Bank of Ireland as to your lawyers' details and checked that your lawyers are on the Bank of Ireland conveyancing panel? It is not unusual for a mortgage offer to take a month to come through.
Is it necessary to take out insurance to address the risk of chancel repairs when buying a property in Cotswolds?
Unless a prior acquisition of the house took place post 12 October 2013 you may assume that lawyers handling conveyancing in Cotswolds to remain encouraging a chancel search and or chancel repair liability insurance.
I got the keys to my apartment on 3 May and my personal details is not yet on the land registry website. Need I be worried? My conveyancing solicitor in Cotswolds advises it should be registered in a couple of weeks. Are titles in Cotswolds particularly slow to register?
There is nothing unique when it comes to conveyancing in Cotswolds registration formalities. Rather than based on location, timeframes can differ according to the party submitting the application, whether there are errors and whether the Land registry have to notify any interested persons or bodies. As of today roughly three quarters of submission are fully addressed in less than three weeks but occasionally there can be longer hold-ups. Registration is effected after the purchaser is living at the premises so registration formalities is not typically an essential issue yet where it is urgent that the the registration takes place urgently then you or your solicitor can communicate with the Registry to express the reasoning for the application to be prioritised.
I am buying a new build house in Cotswolds with a loan from Birmingham Midshires. The developers would not reduce the price so I negotiated five thousand pounds worth of additionals instead. The sale representative told me not disclose to my solicitor about the extras as it could affect my mortgage with Birmingham Midshires. 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.
In what way does the Landlord & Tenant Act 1954 affect my business premises in Cotswolds and how can you help?
The 1954 Act gives protection to business leaseholders, giving them the dueness to make a request to court for a continuation of occupancy when the lease reaches an end. There are limited grounds where a landlord can refrain from granting a lease renewal and the rules are involved. We are happy to direct you to commercial conveyancing practices who use the act to your advantage and help with commercial conveyancing in Cotswolds
Am I better off to appoint a Cotswolds conveyancing solicitor who is local to the property I am hoping to buy? We have a good friend who can carry out the legal formalities however they are based approximately 350miles away.
The primary upside of using a local Cotswolds conveyancing practice is that you can pop in to sign documents, present your ID and apply pressure on them if necessary. Having local Cotswolds know how is a bonus. That being said nothing is more important than finding someone that will pull out all the stops for you. If if people you trust used your friend and they were happy that should surpass using an unknown Cotswolds conveyancing lawyer just because they are local.