I'm the single recipient of my late mum's estate with all property in now in my sole name, including the my former home in Somersham. Conveyancing formalities meant that the Land Registry date was in April. 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 if I'd bought the house in April. Do I have to wait 6 months to sell?
The CML handbook instructs solicitors to: "report to us immediately if the owner or registered proprietor has been registered for less than six months." Technically you may be affected by that. How sensible a view banks take of it, depend on the lender as this requirement primarily exists to identify the purchase and immediately sell or the wholesaling and assigning of properties.
Are all Somersham Conveyancing Quality Solicitors on the Aldermore conveyancing panel?
Some major lenders now make use of CQS as the kick off point for Panel approval such as HSBC and Santander. The Law Society’s CQS membership however is no guarantee to lender panel acceptance. That being said,the CML have indicated that it is likely to become a pre-requisite for solicitors wishing to join their approved list of conveyancing solicitors.
I am currently in the process of buying my council flat in Somersham. I have a mortgage agreed with Skipton. Conveyancing is new to me. Can I proceed without a solicitor easily? I think we can but we keep being told I should use one. Any advice?
It is not advisable to proceed with a house purchase without a solicitor. The council's solicitor are not acting for you. You need a solicitor for a number reasons. One of which is to verify what plans the Council have for repairs and refurbishment for the next five years. Many leaseholders have been stung for contributions of thousands of pounds. In any event, if you are getting a mortgage with Skipton, you will need to appoint a solicitor on the Skipton conveyancing panel.
3 months have elapsed following my purchase conveyancing in Somersham took place. I have checked the Land Registry site which shows that I paid £150,000 when infact I paid £180,000. 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.
Yesterday I discovered that there is a flying freehold element on a property I have offered on last month in what should have been a simple, no chain conveyancing. Somersham is the location of the property. What do you suggest?
Flying freeholds in Somersham are unusual but are more likely to exist in relation to terraced houses. Even where you use a solicitor outside Somersham you must be sure that your lawyer goes through the deeds very carefully. Your bank may require your conveyancing solicitor to take out an indemnity policy. Some of the more diligent conveyancing solicitors in Somersham 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 premises.
Should I be suspicious by estate agents that I am dealing with are suggesting a national conveyancing firm rather than a High Street Somersham conveyancing company?
As is the case with lots of professional services, often recommendations from family and friends can be worth their weight in gold. But there are numerous players in a conveyancing matter; estate agents, mortgage brokers and banks may put forward solicitors to choose. On occasion these conveyancers might be known to one of the organisations as one of the best in their field, but occasionally there might be a commercial relationship behind the recommendation. You are at liberty to select your own conveyancer. Don't forget that most banks operate an approved list of law firms you have to use for the mortgage aspect of your conveyancing.
My father has recommend that I instruct his lawyers for conveyancing in Somersham. Do I take his advice?
There are no two ways about it the ideal way to find a conveyancing lawyer is to have referrals from friends or relatives who have previously instructed the solicitor that you are are thinking of instructing.
Can you set a few of compelling advantages to instructing a local property lawyer in Somersham
A significant proportion of house movers in Somersham opt for a nearby high street conveyancing practitioner so that they can attend the lawyer’s offices if they have problems, and to collect paperwork rather than relying on the post.
There is a distinct benefit when selecting a property lawyer nearby to the house you are planning to purchase, due to the in-depth knowledge of the area and potential local issues - nevertheless this is debatable. Many conveyancers undertaking their communications via email and could be any place in the world.