We're in Longbenton, FTBs buying with a mortgage (lender is Virgin Money , and our solicitor is on the Virgin Money conveyancing panel). How long should the conveyancing process take?
The fact that your lawyer is on the Virgin Money 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.
A relative informed me that in purchasing a property in Longbenton there may be various restrictions prohibiting external changes to a property. Is this right?
There are anumerous of properties in Longbenton which have some sort of restriction or requirement of consent to execute external changes. Part of the conveyancing in Longbenton should determine what restrictions are applicable and advising you as part of a ROT that should be sent to you.
I am the only recipient of my late mum's estate with all property in now in my sole name, including the house in Longbenton. The Longbenton property was put into my name in May. I plan to dispose of the house. I do know about the Mortgage Lenders 6 month 'rule', meaning my proprietorship may be regarded the same way as though I had purchased the house in May. Do I have to wait half a year to sell?
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." By the strict wording you may be affected by that. How sensible a view lenders take of it, depend on the lender as this obligation is chiefly there to capture subsales or the quick reselling of properties.
I can not fathom if my bank obliges me to make sure the lease term for the flat is extended prior to the completion date. I have called into my local Longbenton bank branch on numerous occasions and was reassured it wasn't an issue and they would lend. My Longbenton conveyancing solicitor - who is on the bank conveyancing panel- called and was told they will not lend based on their UK Finance Lenders’ Handbook minimum lease term requirements. I have no idea who is right.
As long as the conveyancing practitioner is on the lender approved list, they must comply with the CML Handbook requirements for the bank. Unless your lawyer obtains specific confirmation in writing that the lender will go ahead, your lawyer has no choice but to refrain from exchanging contract and committing you to the purchase. We would suggest that you ask the lender to contact your lawyer in writing confirming that they will accept the number of years remaining.
Should our solicitor be raising questions regarding flooding during the conveyancing in Longbenton.
Flooding is a growing risk for solicitors dealing with homes in Longbenton. There are those who acquire a house in Longbenton, completely aware that at some time, it may be flooded. However, aside from the physical destruction, if a property is at risk of flooding, it may be difficult to get a mortgage, adequate building insurance, or dispose of the property. Steps can be carried out during the course of a house purchase to forewarn the buyer.
Lawyers are not best placed to impart advice on flood risk, but there are a various checks that can be carried out by the buyer or by their solicitors which will figure out the risks in Longbenton. The standard completed inquiry forms given to a buyer’s solicitor (where the solicitors are adopting what is known as the Conveyancing Protocol) includes a standard inquiry of the seller to discover whether the property has suffered from flooding. If the residence has been flooded in past which is not disclosed by the owner, then a buyer could commence a claim for damages resulting from an incorrect response. The buyer’s lawyers will also conduct an enviro search. This will reveal whether there is a recorded flood risk. If so, further investigations should be initiated.
I used Stirling Law several years ago for my conveyancing in Longbenton. I now require my papers but cannot find the solicitor. What do I do?
You should call the Solicitors Regulatory Authority (SRA) to assist in tracking down your conveyancing files. They can be contacted on please contact on 0870 606 2555. Alternatively, you should use their online form to make an enquiry. You will need to provide the SRA with as much information as possible to assist their search, including the name and address in Longbenton of the conveyancing firm of solicitors you previously instructed, the name of conveyancing solicitor with whom you had dealings, and the date on which you last had dealings with the firm.
Should I go with a Longbenton conveyancing practitioner in close proximity to the house I am buying? I have an old university friend who can carry out the legal work but his firm is located over three hundred kilometers drive away.
The primary upside of using a high street Longbenton conveyancing practice is that you can attend the office to execute paperwork, present your ID and pester them where appropriate. They will also have local knowledge which is a benefit. That being said it's more important to get someone that will pull out all the stops for you. If you know people who used your friend and on the whole were content that should outweigh using an unknown Longbenton conveyancing solicitor just because they are based in the area.
As a tenant I am on the hook for a maintenance contribution for my appartment in Longbenton. As a result of personal circumstances I slipped into arrears with remittance. I negotiated a clearance schedule but there remains two due in arrears.
I am under pressure to dispose of the property and I am nervous that this may hold me back if I have to settle the arrears now. Do I have to settle before - is this practicable?
You should clarify with the conveyancer undertaking your Longbenton conveyancing but it may be possible to agree for the debt to be transferred to the purchasers. The purchase price due would be reduced to reflect the amount of debt they assume. They could then deal with the fees once they are the owners.