I am the sole beneficiary of my late grandmother’s estate and I have everything in my name alone, including the house in Harrow on the Hill. The Harrow on the Hill property was put into my name in April. I now wish to sell up. I understand that there is a CML 6 month 'rule', which means that my property ownership could be considered the same way as if I'd bought the house in April. Will no one buy the property for half a year?
The Council of Mortgage Lenders’ handbook obliges solicitors to: "report to us immediately if the owner or registered proprietor has been registered for less than six months." Technically you may be caught by that. many mortgage companies would take a practical view as this clause principally exists to capture subsales or the wholesaling and assigning of property.
Can you point me to a directory of Skipton panel conveyancers in Harrow on the Hill on the Council of Mortgage Lender’s Website?
Unfortunately not yet. There is no such tool on the CML or Building Society Association sites. A small selection of mortgage companies make their panel listings available on the web. If you are looking for a Harrow on the Hill property lawyer on the Skipton please use our tool.
I am buying a property in Harrow on the Hill. An unusual aspect is that the roof has a solar panel. Solicitors conducting should look into this right? Will my lender Bank of Ireland be concerned?
Given that your lender is Bank of Ireland your lawyer must check the formal instructions set out in Part two of UK Finance Lenders’ Handbook for Bank of Ireland. The Council of Mortgage Lenders’ Handbook includes minimum requirements for solar panel roof-space leases, and conveyancers are required to report to Bank of Ireland where a lease does not meet these conditions. The specifications relate to the installation of panels on properties in England and Wales and is not isolated to Harrow on the Hill.
I have recentlybeen informed that Arc property Solicitors have closed. They carried out my conveyancing in Harrow on the Hill for a purchase of a leasehold flat 9 months ago. How can I check that my home is registered correctly in the name of the former proprietor?
The quickest way to check if the property is registered to you, you can make a search of the land registry (£3.00). You can either do this yourself or ask a law firm to do this for you. If you are not registered you can seek help from one of a number of Harrow on the Hill conveyancing specialists.
How does conveyancing in Harrow on the Hill differ for new build properties?
Most buyers of new build property in Harrow on the Hill come to us having been asked by the developer to sign contracts and commit to the purchase even before the house is built. This is because developers in Harrow on the Hill typically buy the land, 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 Harrow on the Hill or who has acted in the same development.
Over the last few months I have been searching for a ground for flat up to £235,500 and found one near me in Harrow on the Hill I like with a park and railway links nearby, the downside is that it only has 61 years on the lease. I can't really find anything else in Harrow on the Hill suitable, so just wondered if I would be making a mistake acquiring a lease with such few years left?
Should you require a home loan the shortness of the lease may be an issue. Reduce the price by the anticipated lease extension will cost if it has not already been discounted. If the current proprietor has owned the premises for a minimum of 2 years you can ask them to commence the lease extension formalities and pass it to you. An additional ninety years can be extended on to the existing lease with a zero ground rent applied. You should speak to your conveyancing lawyer about this.
I have been advised by a couple of local property agents in Harrow on the Hill to choose a solicitor using your seach tool. Is there a financial advantage for Estate Agents to market your lawyers rather than another?
We refuse to offer any commission for pointing buyers and sellers our way. We thought it would be too underhand to pay a commission because home movers will think, ‘How come the agent getting a kickback? Why aren’t I receiving any benefit too?’ We would prefer to grow our business on genuine recommendations.
Developers have suggested I use a solicitor and I've obtained an estimate from them. It's nearly £400 less expensive than my own Harrow on the Hill solicitor. What's the catch?
Developers normally have lists of lawyers who are quick and who know the seller’s paperwork and solicitor. As many developers offer an incentive to choose a preferred lawyer for this reason, any increased charges can be avoided and a developer won't put forward a conveyancing factory and run the risk of having the conveyancing delayed when they want exchange within a tight deadline. The argument for not agreeing to use the recommended solicitor is that they may prove hesitant to fight for your interests at the risk of upsetting the sellers. If you worry that this may be the case you should keep with your high street Harrow on the Hill solicitor.