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 Standish. Conveyancing formalities meant that the Land Registry date was in January. I want to move. I understand that there is a Mortgage Lenders 6 month 'rule', meaning my proprietorship could be considered the same way as though I had purchased the house in January. Do I have to wait half a year to sell?
The CML handbook requires conveyancers to: "report to us immediately if the owner or registered proprietor has been registered for less than six months." Technically you may be impacted by that. Most banks would take a practical view as this provision primarily exists to capture the purchase and immediately sell or the flipping of property.
We expect to receive a AIP from HSBC this week so we know how much we could potentially offer as otherwise we are dependent on web based calculators (which aren't taking into account credit checks etc). Do HSBC recommend any Standish solicitors on the HSBC conveyancing panel, or is it better to go independently?
You will need to appoint Standish solicitors independently although you'll need to choose one on the HSBC conveyancing panel. The solicitor represents both you and HSBC through the process.
Having read lots of house buying guides, I note that they all recommend that you should get your house surveyed prior to buying it. When I asked my local Standish solicitor - who is on the HSBC conveyancing panel - on this she said they don't do this and I need to contract an independent surveyor. Is that normal?
HSBC will need an independent valuation of the property. Your lawyer will not arrange this. Usually HSBC will appoint their own surveyor to do this, and you will have to pay for it. Remember that this is a valuation for mortgage purposes and not a survey. Your solicitor will not organise the survey but they may be able to put you in touch with a local one that they recommend. RICS offers a find a surveyor service (just google it) where you can search for a qualified surveyor by your Standish postcode. As you are getting a mortgage with HSBC, you could contact them to see if they have a list of approved surveyors in Standish.
I require quick conveyancing in Standish as I am under an ultimatum to exchange contracts within one month. A home loan is not required. Can I escape the need for conveyancing searches to save money and time?
If.Given you are not getting a mortgage you are at liberty not to do searches although no solicitor would recommend that you don't. With lots of history conveyancing in Standish the following are examples of issues that can be revealed and therefore affect the marketability of the property: Enforcement Notices, Overdue Fees, Outstanding Grants, Road Schemes,...
Over the last few months I have been searching for a leasehold apartment up to £245,000 and found one near me in Standish I like with a park and railway links nearby, however it's only got 51 years unexpired on the lease. I can't really find anything else in Standish suitable, so just wondered if I would be making a mistake buying a lease with such few years left?
Should you need a mortgage the remaining unexpired lease term will be problematic. Reduce the offer by the amount the lease extension will cost if it has not already been discounted. If the current proprietor has owned the property for a minimum of twenty four months you may ask them to commence the lease extension formalities and then assign it to you. An additional ninety years can be extended on to the current lease and have £0 ground rent by law. You should speak to your conveyancing solicitor about this matter.
We're novice buyers - agreed a price, but the agent told us that the owners will only go ahead if we instruct their preferred conveyancers as they want a ‘quick sale’. Our preferred option is to instruct a family solicitor accustomed to conveyancing in Standish
We suspect that the seller is not behind this requirement. If they desire ‘a quick sale', turning down a genuine purchaser is likely to cause more damage than good. Speak to the owners direct and explain that (a)you are keen to buy (b)you are excited to move forward, with finances in place © you do not need to sell (d) you wish to move quickly (e)but you will continue to use your preferred Standish conveyancing lawyers - not the ones that will provide their negotiator at the agency a commission or achieve conveyancing targets set by corporate headquarters.
What advice can you give us when it comes to appointing a Standish conveyancing practice to deal with our lease extension?
When appointing a solicitor for your lease extension (regardless if they are a Standish conveyancing firm) it is essential that he or she should be familiar with the legislation and specialises in this area of work. We advise that you talk with two or three firms including non Standish conveyancing practices before you instructing a firm. Where the conveyancing practice is ALEP accredited then so much the better. The following questions might be of use:
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What are the costs for lease extension work?
I inherited a split level flat in Standish, conveyancing formalities finalised in 2008. Can you please calculate a probable premium for a statutory lease extension? Corresponding flats in Standish with over 90 years remaining are worth £195,000. The ground rent is £45 yearly. The lease expires on 21st October 2088
With only 63 years remaining on your lease we estimate the premium for your lease extension to be between £16,200 and £18,600 as well as professional fees.
The suggested premium range that we have given is a general guide to costs for renewing a lease, but we cannot give you the actual costs in the absence of comprehensive due diligence. Do not use the figures in tribunal or court proceedings. There are no doubt additional concerns that need to be considered and clearly you want to be as accurate as possible in your negotiations. Neither should you move forward based on this information without first getting professional advice.
I am an executor of my recently deceased parent's Will, with a house in Standish which will be sold. The bungalow is unregistered at the Land Registry and I'm told that many purchasers will insist that it is done before they will move forward. What's the mechanism for this?
In the circumstances that you have set out it seems advisable to apply to register in the names of the personal representative(s) as named in the probate and in their capacity as PRs. The Land Registry’s online guidance explains how to register for the first time and what is required re the deeds and forms. You would need to include and certified copy of the probate as well and complete the form FR1 to refer to the PRs as the applicant.