We're in Herefordshire, FTBs buying with a mortgage (lender is Nottingham , and our solicitor is on the Nottingham conveyancing panel). How long should the conveyancing process take?
The fact that your lawyer is on the Nottingham conveyancing panel is a help. It would almost certainly delay matters if they were not. However, no property lawyer should guarantee a timeframe for your conveyancing, due to third parties outside of your control such as delays caused by lenders,conveyancing search providers or by the other side’s solicitors. The time taken is often determined by the number of parties in a chain.
I'm the sole recipient of my late grandmother’s will and I have everything in my name alone, including the my former home in Herefordshire. The Herefordshire property was put into my name in July. I plan to dispose of the house. I understand that there is a Mortgage Lenders six month 'rule', which means that my proprietorship could be treated the same way as if I'd bought the property in July. Will no one buy the property for half a year?
The CML handbook instructs 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. Some banks would take a sensible view as this requirement chiefly exists to pick up on the purchase and immediately sell or the flipping of property.
When it comes to lenders such as Principality, do Herefordshire conveyancers face a yearly amount to be on the conveyancing panel?
We are not aware of any mortgage company fees to register on their list of approved firms, although some do charge an administration fee to deal with the processing of the conveyancing panel submission.
I am due to exchange contracts on my flat. I had a double glazing fitted in January 2008, but did not receive a FENSA certificate or Building Regulation Certificate. My buyer's lender, Nationwide are being problematic. The Herefordshire solicitor who is on the Nationwide conveyancing panel is happy to accept ‘lack of building regulation’ insurance but Nationwide are insisting on a building regulation certificate. Why do Nationwide have a conveyancing panel if they don't accept advice from them?
It is probably the case that Nationwide have referred the matter to their valuer. The reason why Nationwide 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.
It has been four months following my purchase conveyancing in Herefordshire completed. I have checked the Land Registry site which shows that I paid £200,000 when infact I paid £180,000. Why the discrepancy?
The price paid figure is taken from the application to register the purchase. It is the figure included in the Transfer (the legal deed which transfers the property from one person to the other) and referred to as the 'consideration' or purchase price. You can report an error in the price paid figure using the LR online form. In most cases errors result from typos so at first glance the figure. Do report it so they can double check and advise.
I'm purchasing my first flat in Herefordshire with a mortgage from Britannia. The sellers refused to move on the amount so I negotiated £7000 of additionals instead. The house builders rep told me not to tell my solicitor about the side-deal as it would adversely affect my mortgage with Britannia. Should I keep quiet?.
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.
Yesterday I discovered that there is a flying freehold issue on a house I put an offer in a fortnight ago in what should have been a simple, chain free conveyancing. Herefordshire is where the house is located. Is there any guidance you can impart?
Flying freeholds in Herefordshire are unusual but are more likely to exist in relation to terraced houses. Even though you don't necessarily need a conveyancing solicitor in Herefordshire you would need to get your solicitor to go through the deeds diligently. Your mortgage company may require your conveyancing solicitor to take out an indemnity policy. Some of the more diligent conveyancing solicitors in Herefordshire may ascertain 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.
I am selling my property. My previous solicitors has retired. I am in need of a recommendation of a conveyancing firm. I happen to live in Herefordshire if that affects matters.
Please use our search tool to help you choose a solicitor for your conveyancing in Herefordshire. We have connected thousands of home buyers and sellers with lender approved solicitors to ensure that the legalities of their house move goes smoothly.