My bid for a property was accepted at auction in Kelvedon. Conveyancing is required. What happens now?
Given that you are now legally committed yourself to purchase you should retain a conveyancing lawyer as a matter of urgency as you now have a tight a drop dead date to complete the purchase. Every auction property should have a corresponding auction set of papers. This will likely include evidence of title and search results. If you have purchased leasehold property the auction papers may include a copy of the lease, management information and a sellers leasehold information form and other conveyancing paperwork specific to a leasehold property. You must pass this on to the conveyancer working for you as soon as possible. Do make sure that you have funds in place to complete the transaction on the set completion date.
I happen to be the single recipient of my late mum's will with all property in now in my sole name, including the house in Kelvedon. Conveyancing formalities meant that the Land Registry date was in August. I now wish to sell up. I do know about the Mortgage Lenders six month 'rule', meaning my property ownership will be regarded the same way as though I had purchased the property in August. Is the property unsalable for six months?
The Council of Mortgage Lenders’ handbook mandates conveyancers to: "report to us immediately if the owner or registered proprietor has been registered for less than six months." Technically you might be caught by that. Some mortgage companies would take a practical view as this clause is primarily there to identify the purchase and immediately sell or the wholesaling and assigning of property.
I have today made my last payment due on my mortgage with Skipton. I assume I don't need a Kelvedon lawyer on the Skipton panel to discharge the mortgage at the Land Registry. Am I right?
If you have finished paying off your Skipton mortgage, they may send you evidence showing that you have paid it off. Alternatively they may notify the Land Registry directly. The Land Registry need to see this evidence before they will remove the Skipton mortgage from the register. Skipton, and any evidence they send you, will determine the action you need to take. In cases where no conveyancer is acting for you and you have paid off your mortgage:
- but are not moving to another property
- where Skipton has sent the Land Registry the discharge electronically, and
- Skipton has instructed the Land Registry to do so
Should our solicitor be asking questions regarding flooding during the conveyancing in Kelvedon.
Flooding is a growing risk for solicitors dealing with homes in Kelvedon. Plenty of people will acquire a house in Kelvedon, completely aware that at some time, it may be flooded. However, aside from the physical damage, where a house is at risk of flooding, it may be difficult to obtain a mortgage, adequate insurance cover, or dispose of the premises. Steps can be carried out during the course of a house purchase to forewarn the buyer.
Lawyers are not best placed to give advice on flood risk, however there are a various searches that can be initiated by the purchaser or on a buyer’s behalf which will give them a better appreciation of the risks in Kelvedon. The conventional set of information sent to a purchaser’s solicitor (where the solicitors are adopting what is known as the Conveyancing Protocol) contains a standard inquiry of the seller to determine if the property has historically flooded. In the event that flooding has previously occurred and is not notified by the owner, then a purchaser could bring a compensation claim as a result of such an misleading answer. The purchaser’s conveyancers may also carry out an environmental report. This will indicate if there is a recorded flood risk. If so, more detailed investigations will need to be initiated.
I am buying a new build flat in Kelvedon. Conveyancing is necessary evil at the best of times but I have never purchased a new build flat before. What sort of enquires would be asked in new build legal work.
Set out below is a sample of a selection of leasehold new build questions that you should expect your new-build leasehold conveyancing in Kelvedon
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The Landlord must covenant to assume the management if the Management Company goes into liquidation or otherwise defaults in running the management scheme. Where there is an Undertaking being granted there is the risk of forfeiture of the Headlease subject to relief if one or more of the Underlessees are willing to accept the original Head Lessee’s obligations as otherwise relief will be denied to the Underlessees. The only alternatives are the Head Lessor agreeing not to forfeit the Headlease or the Head Lessee guaranteeing to the Underlessees that it will not be in breach of the Headlease. The Vendor must covenant to keep unsold units in good repair until long leases are granted therefore. Has the Lease plan been approved by the Land Registry and if not when will they be lodged for this purpose? Will control of the Management Company (if any) be handed over to purchasers on completion of the last sale or earlier?
I decided to have a survey completed on a property in Kelvedon before instructing lawyers. I have been told that there is a flying freehold element to the house. The surveyor advised that some banks tend refuse to give a loan on this type of home.
It varies from the lender to lender. HSBC has different instructions from Nationwide. Should you wish to call us we can look into this further with the relevant bank. If you lender is happy to lend one our lawyers can help as they are accustomed to dealing with flying freeholds in Kelvedon. Conveyancing will be smoother if you use a solicitor in Kelvedon especially if they are accustomed to such properties in Kelvedon.
Having had my offer accepted I require leasehold conveyancing in Kelvedon. Before I set the wheels in motion I require certainty as to the unexpired term of the lease.
If the lease is recorded at the land registry - and most are in Kelvedon - then the leasehold title will always include the short particulars of the lease, namely the date; the term; and the original parties. From a conveyancing perspective such details then enable any prospective buyer and lender to confirm that any lease they are looking at is the one relevant to that title. For any other purpose, such as confirming how long the term was granted for and calculating what is left, then the register should be sufficient on it's own.
Kelvedon Conveyancing for Leasehold Flats - A selection of Questions you should ask before Purchasing
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Is there a share of the freehold? Does the lease have onerous restrictions?
Me and my partner have recently had an offer accepted on a house and had meeting on Monday with the Post Office for the mortgage. They advised us that when it comes to choosing a conveyancing practitioner that unless they are on their approved list of conveyancing practitioners then we will incur an extra charge of £250+. This is because they would then have to appoint a solicitor to act for them in addition to the one we choose to act for ourselves and we are liable for their invoice. I have asked the Post Office to provide me with a list so I can request quotes only from their approved solicitors but was told they dont have such a list to hand over. Is there a simple way of finding out who is on a lender panel?
Ask the Post Office what their criteria for joining their panel is for a conveyancer.Then ask the conveyancing practitioner of your choice whether they meet the criteria and have they acted on loans for the Post Office previously. Where the answer to those is yes, then just double check with the Post Office. Alternatively please utilise our search facility and we may be able to identify a lawyer in Kelvedon on the panel for the Post Office.