I am soon to exchange buying a house in Great Barford but as a result of wreckage from some water damage at the property I have managed to agree compensation from the current proprietors of three thousand pounds by way of a reduction in the price. I had intended this to be addressed as part of amending the contract yet Lloyds will not permit this. Should they have been involved?
Any conveyancing practitioner that is on a Lloyds conveyancing panel is required to inform Lloyds of any amendments to the sale price. If you prohibit your conveyancing practitioner to notify the reduction to Lloyds then they would have to discontinue acting for you. In addition, Lloyds and you would have to appoint a new property lawyer for your conveyancing in Great Barford.
What happens if my lawyer’s firm is suspended from the Coventry BS Conveyancing panel ahead of completing my conveyancing in Great Barford?
First, this is very unlikely to happen. In most cases even where a law firm is removed off of a panel the lender would allow the completion to go ahead as the lender would appreciate the difficulties that they would place you in if you have to instruct a new solicitor days before completion. In a worst case scenario where the lender insists that you instruct a new firm then it is possible for a very good lawyer to expedite the conveyancing albeit that you may pay a significant premium for this. The analogous situation is where a buyer instructs a lawyer, exchanges contracts and the law firm is shut down by a regulator such as the SRA. Again, in this situation you can find lawyers who can troubleshoot their way to bring the conveyancing to a satisfactory conclusion - albeit at a cost.
Have just purchased a probate house at auction in Great Barford. Conveyancing is needed. What are my next steps?
Now that you are to all intents and purposes signed on the dotted line you now have to appoint a conveyancing lawyer soon as you now have a tight a fixed date to complete the purchase. An auction property should have a bespoke legal pack. This will include most,if not all of the documents that your solicitor requires. Where you are dealing with leasehold property the conveyancing pack should provide a copy of the lease, management information and a sellers leasehold information form and other conveyancing documentation relating to leasehold premises. You need to give this to your appointed conveyancing solicitor at the earliest opportunity. Do make sure that that you have the requisite funding organised to complete on the on the contractual date .
I am the single beneficiary of my late grandmother’s will and I have everything in my name alone, including the my former home in Great Barford. Conveyancing formalities meant that the Land Registry date was in July. I want to move. I understand that there is a Mortgage Lenders 6 month 'rule', meaning my property ownership could be treated the same way as though I had purchased the house in July. Do I have to wait half a year to sell?
The Council of Mortgage Lenders’ handbook mandates solicitors to: "report to us immediately if the owner or registered proprietor has been registered for less than six months." Technically you could be impacted by that. Most lenders would take a sensible view as this requirement is chiefly there to identify the purchase and immediately sell or the wholesaling and assigning of properties.
Planning on purchasing a flat in Great Barford. I have received an online quote from a licenced conveyancer, which states: "There will be no charge for dealing with the Lender if you are obtaining a mortgage". I take this to mean that there will be no additional fee if the solicitor is on the Leeds Building Society conveyancing panel. I wanted to make sure it means there will be no additional fees for dealing with the mortgage.
They are simply saying that the cost for acting for the lender is included in the fee being quoted. It is worth you checking that the Great Barford conveyancer is on the Leeds Building Society conveyancing panel.
My wife and I are intent on selling our home in Great Barford and according to the buyers it appears that there is a possibility that the property was built land that was not decontaminated. A local lawyer would know that there is no such problem. For the life of me I don't know why the purchasers used a factory type conveyancing firm rather than a conveyancing solicitor in Great Barford. Having lived in Great Barford for 4 years we know that this is a non issue. Is it a good idea to get in touch with our local Authority to get confirmation that there is no issue.
It would appear that you have a conveyancing solicitor already. What do they say? You should enquire of your lawyer before you do anything. It is very possible that once the local authority has been informed of a potential issue it cannot be insured against (a bit like being diagnosed with a serious illness and then taking out health insurance to cover that same sickness)
Me and my brother purchased a renovated Georgian property in Great Barford. Conveyancing solicitor acted for me and Birmingham Midshires. I happened to do a free search for it on the Land Registry database and I saw two entries: the first freehold, another for leasehold with the matching address. I'd like to know for sure, how can I find out??
You need to read the Freehold register you have again and check the Charges Register for mention of a lease. The best way to be sure that you are also the registered owner of the leasehold and freehold title as well is to check (£3). It is not completely unheard of in Great Barford and other locations in the country and poses no real issues for owners other than when they buy they have to account for both freehold and leasehold interests when dealing with buyers. You can also check the position with the conveyancing lawyer who carried out the work.
Due to the advice of my in-laws I had a survey completed on a property in Great Barford before instructing conveyancers. I have been told that there is a flying freehold aspect to the property. The surveyor advised that some lenders tend refuse to grant a mortgage on a flying freehold home.
It depends who your proposed lender is. Lloyds has different instructions from Halifax. If you call us we can check via the appropriate lender. If you lender is happy to lend one our lawyers can assist as they are used to dealing with flying freeholds in Great Barford. Conveyancing can be more complicated and therefore you should check with your conveyancing solicitor in Great Barford to see if the conveyancing costs will increase in light of this.