My flat in Southwell is up for sale and I have accepted an offer. Does the conveyancing practitioner have to be required to be on the RBS conveyancing panel in order to deal with the discharge of my mortgage?
Ordinarily, even if your lawyer is not on the RBS conveyancing panel they can still act for you on your sale. It might be that the lender will not release the original deeds (if applicable and increasingly irrelevant) until after the mortgage is paid off. You should speak to your lawyer directly before you start the process though to ensure that there is no problem as lenders are changing their specifications fairly frequently at the moment.
I'm the sole recipient of my late grandmother’s estate and I have everything in my name alone, including the my former home in Southwell. Conveyancing formalities meant that the Land Registry date was in August. I plan to dispose of the property. I do know about the Mortgage Lenders six month 'rule', meaning my property ownership could be considered the same way as if I'd bought the property in August. Do I have to wait half a year to sell?
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." Technically you could be impacted by that. many lenders would take a sensible view as this clause is chiefly there to identify subsales or the quick reselling of property.
After much negotiation I have agreed a price on a house in Southwell. My financial adviser pressured me to appoint their property lawyer. I paid an advanced payment of £150. Soon after, the property lawyer called me to say that they were not on the RBS conveyancing panel. Am I right in thinking that I should be due a refund?
You should be able to recover this from the law firm if they were not on the RBS panel. They should have asked at the outset which lender you were obtaining a mortgage with. An important lesson to readers of this site is to check that the lawyers are on the appropriate lender panel.
I am due to exchange contracts on my apartment. I had a double glazing fitted in October 2006, but did not receive a FENSA certificate or Building Regulation Certificate. My purchaser’s lender, TSB are being difficult. The Southwell solicitor who is on the TSB conveyancing panel is happy to accept ‘lack of building regulation’ insurance but TSB are insisting on a building regulation certificate. Why do TSB have a conveyancing panel if they don't accept advice from them?
It is probably the case that TSB have referred the matter to their valuer. The reason why TSB may not want to accept indemnity insurance is because it does not give them any reassurance that the double glazing was correctly and safely installed. The indemnity insurance merely protects against enforcement action which is very unlikely anyway.
Just had an offer accepted on a new build flat in Southwell. Conveyancing is necessary evil at the best of times but I have never purchased a new build flat before. What sort of enquires would be asked in new build legal work.
Set out below is a sample of a selection of leasehold new build questions that you may expect your new-build leasehold conveyancing in Southwell
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Please supply a car parking plan. Has the Lease plan been approved by the Land Registry and if not when will they be lodged for this purpose? Where service of notices and proceedings can be at the property demised please confirm that this can be amended to include simultaneous services at the Lessees’ solicitors’ offices where the Lessee from time to time is not resident in the UK - such solicitors may be varied by notice in writing to the Landlord from time to time but otherwise will be as previously specified. If there are lifts in the building, please confirm that the owners of flats on the ground and basement floors will not be required to contribute towards the cost of maintenance and renewal. Will the freehold then be transferred for a nominal consideration (not exceeding £100) to the Management Company?
Due to the advice of my in-laws I had a survey completed on a house in Southwell in advance of retaining lawyers. I have been informed that there is a flying freehold aspect to the property. My surveyor advised that some lenders tend refuse to give a mortgage on this type of house.
It varies from the lender to lender. Santander has different requirements from Birmingham Midshires. Should you wish to call us we can investigate further 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 Southwell. Conveyancing may be slightly more expensive based on your lender's requirements.
I am hoping to put an offer on a small detached house that appears to be perfect, at a reasonable price which is making it all the more appealing. I have just been informed that the title is leasehold as opposed to freehold. I am assuming that there are issues buying a house with a leasehold title in Southwell. Conveyancing advisers have are soon to be appointed. Will they explain the issues?
The majority of houses in Southwell are freehold rather than leasehold. This is one of the situations where having a local solicitor used to dealing with such properties who can help the conveyancing process. It is clear that you are purchasing in Southwell in which case you should be shopping around for a Southwell conveyancing solicitor and check that they have experience in advising on leasehold houses. First you will need to check the unexpired lease term. Being a tenant you will not be entirely free to do whatever you want with the house. The lease comes with conditions for example obtaining the landlord’spermission to carry out changes to the property. It may be necessary to pay a contribution towards the maintenance of the estate where the house is located on an estate. Your lawyer should appraise you on the various issues.
Southwell Conveyancing for Leasehold Flats - Examples of Questions you should ask before buying
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For most Southwell leaseholds the cost for major works are not included within service charges, although some managing agents in Southwell require leaseholders to contribute towards a sinking fund created for the specific intention of building a fund for major works. How is the lease structured? Be sure to enquire if there is anything that is prohibited in the lease. For example it is fairly common in Southwell leases that pets are not permitted in in a block in Southwell. If you like the flatin Southwell but your dog is not allowed to live with you then you will be presented with a difficult choice.
My brother is buying a leasehold flat in Southwell. He was given a quote by the conveyancer connected to the estate agents and it came to £1245 . It was fifteen years ago since I sold and purchased a property and the bill was £450. Have costs really gone up that much?
You should contact 3 or 4 local Southwell conveyancing firms requesting prices. It is advisable to base your selection not only on cost, but on promptness and on how comprehensive the response was.