Completed the sale of my flat in Saltdean last September but our buyer keeps calling every few hours to say their lawyer is waiting to hear from mine. What are the post completion sale legalities now that I have sold?
Following your disposal your lawyer should forward the transfer documentation and all additional paperwork to the purchaser's solicitors. If applicable, your conveyancer must also evidence that the legal charge in favour of the lender has been repaid to the purchasers conveyancers. There are no post completion requirements peculiar conveyancing in Saltdean.
What happens if my solicitor is removed from the Co-operative Conveyancing panel ahead of completing my conveyancing in Saltdean?
The first thing to point out is that, this is very unlikely to happen. In most cases even where a law firm is removed off of a panel the lender would allow the completion to go ahead as the lender would appreciate the difficulties that they would place you in if you have to instruct a new solicitor days before completion. In a worst case scenario where the lender insists that you instruct a new firm then it is possible for a very good lawyer to expedite the conveyancing albeit that you may pay a significant premium for this. The analogous situation is where a buyer instructs a lawyer, exchanges contracts and the law firm is shut down by a regulator such as the SRA. Again, in this situation you can find lawyers who can troubleshoot their way to bring the conveyancing to a satisfactory conclusion - albeit at a cost.
I'm the only beneficiary of my late grandmother’s will with all property in now in my sole name, including the my former home in Saltdean. The Saltdean property was put into my name in May. I plan to dispose of the property. I do know about the CML 6 month 'rule', meaning my property ownership may be treated the same way as if I'd bought the house in May. Will no one buy the property for half a year?
The CML 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 banks would take a sensible view as this obligation is primarily there to pick up on the purchase and immediately sell or the quick reselling of properties.
I'm in the throws of viewing apartments in Saltdean and I am now considering a potential offer. Is it advisable to have my solicitor on ‘stand by’? I am planning to take a mortgage with Santander.
You should start requesting conveyancing estimates from solicitors ASAP. After you have chosen your lawyer and once your offer is accepted you can instruct them to work for you and pass their details on to the EA. Given that you are getting a mortgage with Santander, make sure you remember to check that your lawyer is on the Santander conveyancing panel.
I can not work out if my mortgage offer obliges me to make sure the lease term for the flat is extended prior to the completion date. I have called into my local Saltdean bank branch on various occasions and was told it does not affect the mortgage offer and they will lend. My Saltdean conveyancing solicitor - who is on the lender conveyancing panel- telephoned to say that they refuse to lend in accordance with their UK Finance Lenders’ Handbook minimum lease term requirements. Who do I believe?
The lawyer has to follow the Council of Mortgage Lenders’ Handbook section two conditions for your bank. Unless your lawyer obtains specific confirmation in writing that the bank 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 left on the lease.
It has been 2 months following my purchase conveyancing in Saltdean completed. I have checked the Land Registry website which shows that I paid £175,000 when infact I paid £215,000. 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 property 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.
How does conveyancing in Saltdean differ for new build properties?
Most buyers of new build residence in Saltdean contact us having been asked by the developer to sign contracts and commit to the purchase even before the property is constructed. This is because house builders in Saltdean typically purchase the site, plan the estate and want to get the plots sold off as they are building the properties. Buyers, therefore, will have to exchange contracts without actually seeing the house they are buying. To reduce the chances of losing the property, buyers should instruct property lawyers as soon as the property is reserved and mortgage applications should be submitted quickly. Due to the fact that it could be several months and even years between exchange of contracts and completion, the mortgage offer may need to be extended. It would be wise to use a lawyer who specialises in new build conveyancing especially if they are accustomed to new build conveyancing in Saltdean or who has acted in the same development.
I decided to have a survey completed on a property in Saltdean before retaining conveyancers. I have been informed that there is a flying freehold element to the house. My surveyor has said that some lenders may refuse to grant a loan on a flying freehold home.
It varies from the lender to lender. Lloyds has different requirements from Nationwide. Should you wish to telephone us we can check 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 Saltdean. Conveyancing will be smoother if you use a solicitor in Saltdean especially if they are accustomed to such properties in Saltdean.