Completed the sale of my flat in Hyde Park last March but our buyer keeps telephoning me to moan that their lawyer needs to hear from mine. What are the post completion sale legalities now that I have sold?
Following your sale your conveyancer should send the transfer documentation and all of the paperwork to the buyer’s solicitors. If applicable, your solicitor must also send confirmation that the home loan has been paid off to the purchasers conveyancers. There is unlikely to be post completion formalities specific conveyancing in Hyde Park.
I'm the sole beneficiary of my late grandmother’s will and I have everything in my name now, including the house in Hyde Park. Conveyancing formalities meant that the Land Registry date was in December. I now wish to sell up. I understand that there is a CML 6 month 'rule', which means that my property ownership may be treated the same way as if I'd bought the property in December. Do I have to wait 6 months to sell?
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." By the strict wording you might be affected by that. many mortgage companies would take a pragmatic view as this obligation chiefly exists to pick up on subsales or the quick reselling of property.
Intending to buy a maisonette in Hyde Park. I have received an online quote from a licenced conveyancer, which states: "There will be no charge for dealing with the Building Society if you are obtaining a mortgage". I take this to mean that there will be no additional fee if the solicitor is on the Co-operative 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 Hyde Park property lawyer is on the Co-operative conveyancing panel.
I have finally had an offer on a maisonette in Hyde Park agreed to, but there is a chain. The vendors have offered on a property, however it’s not been accepted yet, and have viewings of other flats in the pipeline. I have chosen a nearby conveyancing solicitor in Hyde Park. What should be my next step? At what stage should I apply for the mortgage with UBS?
It is understandable to have anxieties where there is a chain as you are unlikely to want to be too out of pocket prematurely (mortgage application is approx one thousand pounds, then survey, Hyde Park conveyancing search charges, etc). First, you must check that your conveyancing practitioner is on the UBS conveyancing panel. Concerning the subsequent phase this very much depends on the specifics of your transaction, motivation for the property and on the state of the market. During a buoyant market some buyers will apply for the mortgage with UBS and arrange for the valuation and only if it comes back ok would they ask their property lawyer to press on with the conveyancing in Hyde Park.
Various web forums that I have come across warn that are the main cause of obstruction in Hyde Park house deals. Is this right?
The Council of Property Search Organisations (CoPSO) published determinations of research by MoveWithUs that conveyancing searches do not figure amongst the top 10 causes of hindrances during the legal transfer of property. Local searches are unlikely to be the root cause of slowing down conveyancing in Hyde Park.
I have justdiscovered that Stirling Law have closed. They conducted my conveyancing in Hyde Park for a purchase of a leasehold flat 18 months ago. How can I check that my home is not still registered in the name of the previous owner?
The quickest way to see if the property is in your name, you can carry out 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 Hyde Park conveyancing specialists.
What tools are available to locate a Hyde Park law firm on the Nottingham Building Society conveyancing panel? I drive a motor bike and am happy to travel upto 25miles to meet the lawyer.
You can use the search on this website. Please pick a bank and your location and you will see a number of Hyde Park conveyancing lawyers located nearest you. We have listed some Hyde Park conveyancing firms towards the end of this page and you can contact them to check if they are on the Nottingham Building Society member panel
One month into a sale of a flat in Hyde Park. Conveyancing is fine but we are being charged an extortionate amount from the managing agents. So far we have forked out £237 for a leasehold management pack and then another £200 plus VAT for supplemental questions raised by the buyers lawyer.
You will not have any say over the level of the charges for this information but the typical fee for the information for Hyde Park leasehold premises is £380. When it comes to Hyde Park conveyancing deals it is conventional for the vendor to cover the costs. The freeholder or their agents are not duty bound to address such questions although many will be content to do so - albeit often at high prices out of proportion to the work involved. Regretfully there is no statute that requires fixed charges for administrative tasks. Neither is there any legal time limit by which they are duty bound to issue answers.