I happen to be the sole recipient of my late father’s will and I have everything in my name now, including the my former home in Liss. The Liss property was put into my name in May. I now wish to sell up. I do know about the Mortgage Lenders 6 month 'rule', meaning my proprietorship may be treated the same way as though I had purchased the property in May. Do I have to wait half a year to sell?
The Council of Mortgage Lenders’ handbook instructs 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 caught by that. How sensible a view mortgage companies take of it, depend on the mortgage company as this clause is chiefly there to pick up on subsales or the wholesaling and assigning of properties.
is it true that all Liss solicitors on the Yorkshire BS conveyancing panel are governed by the Solicitors Regulatory Authority?
As a firm of solicitors, in order to be on the Yorkshire BS conveyancing panel they would need to be regulated by the SRA. The majority of banks do permit licenced conveyancers on their panel and in that case the firms would be overseen by the CLC.
We had chosen conveyancing lawyers locally in Liss on the Nottingham solicitor approved list. They have just billed me an additional amount for dealing with the Nottingham mortgage. Is this an additional conveyancing fee set by Nottingham?
Unfortunately, as long as it is in their Terms and Conditions or estimate then yes your conveyancing practitioner is entitled to charge a fee for this. This fee is not set by Nottingham but by your Liss lawyer. Some firms on the Nottingham panel will charge ’dealing with mortgage’ fee and others do not.
Various online forums that I have come across warn that are the primary reason for stalling in Liss conveyancing transactions. Is there any truth in this?
The Council of Property Search Organisations (CoPSO) published findings of research by MoveWithUs that conveyancing searches do not feature within the top 10 causes of hindrances during the legal transfer of property. Local searches are not likely to be the root cause of delay in conveyancing in Liss.
It has been five months since my purchase conveyancing in Liss completed. I have checked the Land Registry site which shows that I paid £200,000 when infact I paid £160,000. 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 premises 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.
Just had an offer accepted on a new build apartment in Liss. Conveyancing is a frightening process 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 few leasehold new build questions that you can expect your new-build leasehold conveyancing in Liss
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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. Will the freehold then be transferred for a nominal consideration (not exceeding £100) to the Management Company? There must be mutual enforceability of lessee’s covenants. The Lease must contain a provision on behalf of the Vendor to pay the service charges in respect of unoccupied units in order to ensure that all services can be provided. Please supply a car parking plan.
Due to the input of my in-laws I had a survey completed on a house in Liss prior to instructing lawyers. I have been informed that there is a flying freehold aspect to the property. My surveyor advised that some lenders may not issue a mortgage on a flying freehold home.
It depends who your proposed lender is. Bank of Scotland has different requirements for example to Nationwide. Should you wish to telephone us we can investigate further with the relevant bank. If you lender is happy to lend one our lawyers can help as they are used to dealing with flying freeholds in Liss. Conveyancing can be more complicated and therefore you should check with your conveyancing solicitor in Liss to see if the conveyancing will be more expensive.
Is there a reason that Liss conveyancing fees differ for leasehold and freehold properties?
When buying a leasehold property there is more work involved purely due to the fact that usually there are further parties involved in the form of the freeholder and/or Management Agents. As part of a lawyers enquiries they will check that all ground rent and service charges are paid up to date amongst other general leasehold matters. For this reason, the Sellers lawyers usually have to refer to the freeholder or Managing Agent for their replies to our questions. This may be time consuming and beyond the lawyers control