It is is a decade since I bought my home in Marple. Conveyancing solicitors have now been appointed on the sale but I can't track down my deeds. Will this cause complications?
You need not be too concerned. First there is a possibility that the deeds will be with the mortgage company or they may be in the possession of the solicitor who acted in the purchase. Secondly the chances are that the property will be recorded at the land registry and you will be able to establish that you own the property by your conveyancing lawyers procuring up to date copy of the land registers. The vast majority of conveyancing in Marple relates to registered property but in the rare situation where your home is unregistered it is more problematic but is not insurmountable.
I happen to be the sole recipient of my late grandmother’s estate and I have everything in my name alone, including the my former home in Marple. The Marple property was put into my name in December. I plan to dispose of the property. I do know about the Mortgage Lenders six month 'rule', meaning my proprietorship may be regarded the same way as though I had purchased the property in December. Do I have to wait 6 months to sell?
The Council of Mortgage Lenders’ handbook requires solicitors to: "report to us immediately if the owner or registered proprietor has been registered for less than six months." Technically you could be caught by that. How practical a view mortgage companies take of it, depend on the lender as this provision principally exists to identify subsales or the wholesaling and assigning of properties.
I'm spending time viewing apartments in Marple and I am now considering a potential offer. Is it advisable to have my conveyancing practitioner on ‘stand by’? I am planning to take a home loan with Leeds Building Society.
You should start requesting conveyancing quotes from solicitors ASAP. Once you decide who you want to use and once your offer is accepted you can instruct them to work for you and pass their details on to the EA. As you are seeking a mortgage with Leeds Building Society, make sure you remember to check that your lawyer is on the Leeds Building Society conveyancing panel.
It is not clear whether my mortgage offer obliges me to make sure the lease term for the flat is extended prior to the completion date. I have telephoned my Marple bank branch on numerous occasions and was told it wasn't a problem and they will lend. My Marple conveyancing solicitor - who is on the bank conveyancing panel- telephoned and was told they will not lend in accordance with their UK Finance Lenders’ Handbook minimum lease term requirements. Who do I believe?
The property lawyer must follow the Council of Mortgage Lenders’ Handbook section two requirements for your bank. Unless your lawyer obtains specific confirmation in writing that the mortgage company 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 mortgage company to contact your lawyer in writing confirming that they will accept the number of years remaining.
Will my solicitor be raising enquiries about flooding during the conveyancing in Marple.
The risk of flooding is if increasing concern for lawyers conducting conveyancing in Marple. Plenty of people will acquire a property in Marple, fully expectant that at some time, it may suffer from flooding. However, leaving to one side the physical destruction, if a house is at risk of flooding, it may be difficult to obtain a mortgage, satisfactory insurance cover, or sell the premises. Steps can be carried out during the course of a house purchase to forewarn the purchaser.
Lawyers are not best placed to give advice on flood risk, but there are a various searches that may be undertaken by the purchaser or by their solicitors which can give them a better appreciation of the risks in Marple. The conventional set of completed inquiry forms sent to a buyer’s solicitor (where the Conveyancing Protocol is adopted) includes a standard inquiry of the seller to determine whether the property has suffered from flooding. If flooding has previously occurred and is not notified by the seller, then a buyer could bring a legal claim for losses stemming from an inaccurate response. The buyer’s conveyancers will also commission an environmental search. This will indicate if there is a recorded flood risk. If so, more detailed inquiries will need to be made.
I have recentlybeen informed that Stirling Law have closed. They conducted my conveyancing in Marple for a purchase of a leasehold apartment 18 months ago. How can I check that the property is in my name in the name of the former proprietor?
The easiest way to see if the premises is in your name, you can make 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 Marple conveyancing specialists.
My partner has suggested that I instruct his lawyers for conveyancing in Marple. Should I find my own solicitor?
There are no two ways about it it’s preferable to find a conveyancing lawyer is to have feedback from friends or relatives who have actually experience in using the conveyancer you're considering.
I have just appointed agents to market my ground floor flat in Marple. Conveyancing lawyers have not yet been instructed, however I have recently received a half-yearly maintenance charge demand – Do I pay up?
It best that you pay the invoice as you normally would given that all rents and service charges will be allotted as part of the financial calculations for completion monies, so you should recover the relevant percentage by the buyer for the period running from after the completion date to the subsequent invoice date. Most managing agents will not acknowledge the buyer unless the service charges have been paid and are up to date, so it is important for both buyer and seller for the seller to show that they are up to date. This will smooth the conveyancing process.
Leasehold Conveyancing in Marple - Sample of Questions you should ask Prior to Purchasing
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Plenty Marple leasehold flats will incur a service charge for the upkeep of the building levied by the freeholder. Where you purchase the apartment you will have to pay this contribution, normally in instalments during the year. This can differ from a couple of hundred pounds to thousands of pounds for large purpose-built blocks. In all probability there will be a ground rent for you to pay yearly, this is usually not a large figure, say approximately £25-£75 but you need to enquire as sometimes it could be surprisingly expensive. Be sure to find out if there are any onerous restrictions in the lease. For instance it is reasonably common in Marple leases that pets are not permitted in in a block in Marple. If you love the apartmentin Marple yet your dog is not allowed to live with you then you have a very hard choice. How many years remain on the lease?