I am the only recipient of my late grandmother’s will and I have everything in my name now, including the house in New Forest. The New Forest property was put into my name in August. I now wish to sell up. I do know about the CML 6 month 'rule', meaning my property ownership will be treated the same way as though I had purchased the property in August. Will no one buy the property for half a year?
The Council of Mortgage Lenders’ handbook mandates 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 impacted by that. many mortgage companies would take a practical view as this obligation principally exists to capture subsales or the quick reselling of property.
We have agreed to purchase a house in New Forest. An unusual aspect is that the roof has a solar panel. Solicitors conducting should look into this right? Will my lender Aldermore be concerned?
As your lender is Aldermore your lawyer must check the conveyancing instructions contained in Section two of UK Finance Lenders’ Handbook for Aldermore. The Council of Mortgage Lenders’ Handbook sets out minimum provisions for solar panel roof-space leases, and property lawyers are required to report to Aldermore where a lease does not meet these conditions. The conditions relate to the installation of panels on properties nationwide and is not isolated to New Forest.
I have paid off my mortgage with Aldermore. I assume I don't need a New Forest lawyer on the Aldermore panel to remove the mortgage at the Land Registry. Am I right?
If you have finished paying off your Aldermore 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 Aldermore mortgage from the register. Aldermore, 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 Aldermore has sent the Land Registry the discharge electronically, and
- Aldermore has instructed the Land Registry to do so
Are there restrictive covenants that are commonly identified during conveyancing in New Forest?
Covenants that are restrictive in nature can be picked up when reviewing land registry title as part of the legal transfer of property in New Forest. An 1874 stipulation that was seen was ‘The houses to be erected on the estate are each to be of a uniform elevation in accordance with the drawings to be prepared or approved by the vendor’s surveyor…’
I am purchasing a new build house in New Forest benefiting from help to buy. The builders refused to reduce the price so I negotiated five thousand pounds worth of fixtures and fittings instead. The house builders rep told me not disclose to my solicitor about the extras as it will affect my loan with the bank. Do I keep my lawyer in the dark?.
All lenders require a Disclosure of Incentives Form from the developer of any new build, converted or renovated property, It is available online from the Lenders’ Handbook page on the CML website. CML form is completed and handed to the lender's surveyor when the inspection is done.
Lenders have different policies on incentives. Some accept none at all, cash or physical, while others will accept cash incentives up to 5%.
Hard to understand why the representative of a builder would be suggesting you withold information from a solicitor when all this will be clearly visible on forms the builder has to supply to its solicitor, the buyer's solicitor and the surveyor.
Yesterday I discovered that there is a flying freehold issue on a house I put an offer in a fortnight ago in what was supposed to be a simple, chain free conveyancing. New Forest is the location of the property. Is there any advice you can give?
Flying freeholds in New Forest are not the norm but are more likely to exist in relation to terraced houses. Even where you use a solicitor outside New Forest you must be sure that your lawyer goes through the deeds very carefully. Your lender may require your conveyancing solicitor to take out an indemnity policy. Some of the more diligent conveyancing solicitors in New Forest may determine that this is not enough and that the deeds be re-written to give you the most up to date legal protection. If so, the next door neighbour also had to sign up to the revised deeds.It is possible that your lender will not accept the situation so the sooner you find out the better. You should also check with your insurance broker as to whether they will insure a flying freehold property.
Is it simple use the search facility to choose a conveyancing practitioner in New Forest on the authorised to act for my bank?
Step one is to choose a lender such as HSBC Bank, Chelsea Building Society or Alliance & Leicester then type in your preferred area for instance New Forest. Conveyancing firms in New Forest and beyond will then be identified.
We're new on the property ladder - had an offer accepted, yet the property agent advised that the seller will only issue a contract if we appoint their recommended conveyancers as they are insisting on an ‘expedited deal’. My instinct tells me that we should use a local conveyancer used to conveyancing in New Forest
It is highly unlikely the vendors are driving this. If they desire ‘a quick sale', taking such a hostile approach to a motivated buyer is not the way to achieve this. Avoid the agents and go straight to the sellers and make sure they comprehend that (a)you are keen to buy (b)you are ready to progress, with mortgage lined up © you are chain free (d) you intend to proceed fast (e)however you will continue to use your preferred New Forest conveyancing lawyers - not the ones that will give the estate agent a introducer fee or meet his conveyancing figures set by head office.