Our Wheatley lawyer has discovered a discrepancy between the information in the home valuation survey and what is revealed within the title deeds. My lawyer has advised that he is duty bound to ensure that the bank is happy with this discrepancy and is still content to lend. Is my conveyancer’s stance legitimate?
Your property lawyer must comply with the UK Finance Lenders’ Handbook conditions which do require that your lawyer disclose any incorrect assumptions in the lender’s valuation report and the legal papers. Should you refuse to allow your lawyer to make the appropriate notification then your lawyer will have no choice but to discontinue acting for you.
Please help - my lawyer says that lack of planning permission insurance is needed on my purchase. What is the typical level of cover needed for conveyancing in Wheatley?
The right level of lack of planning permission indemnity insurance depends on your lender. It would differ for example between Nationwide Building Society and Skipton Building Society. Conveyancing lawyers as opposed to members of the public take out such policies.
I'm the only beneficiary of my late mum's will and I have everything in my name now, including the my former home in Wheatley. The Wheatley property was put into my name in September. I plan to dispose of the house. 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 September. Will no one buy the property for half a year?
The Council of Mortgage Lenders’ handbook requires 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 may be caught by that. Some mortgage companies would take a practical view as this provision is chiefly there to pick up on subsales or the quick reselling of properties.
Is it the case that all Wheatley conveyancing solicitors on the Virgin Money conveyancing panel are regulated by the Solicitors Regulatory Authority?
As a firm of solicitors, in order to be on the Virgin Money conveyancing panel they would need to be overseen by the SRA. Many banks do allow licenced conveyancers on their panel in which case such practice would be regulated by the CLC.
I have a terraced Edwardian house in Wheatley. Conveyancing lawyer acted for me and Virgin Money. I did a free Land Registry search last week and I saw two entries: one for freehold, another for leasehold with the exact same property. If a house is not a freehold shouldn't I have been informed?
You should assess the Freehold register you have again and check the Charges Register for mention of a lease. The best way to be sure that you are also the registered owner of the leasehold and freehold title as well is to check (£3). It is not completely unheard of in Wheatley and other areas of the country and poses no real issues for owners other than when they remortgage they have to account for both freehold and leasehold interests when dealing with purchasers. You can also enquire as to the situation with the conveyancing practitioner who carried out the work.
I've recently found out that there is a flying freehold issue on a house I have offered on two weeks back in what should have been a straight forward, chain free conveyancing. Wheatley is where the house is located. What do you suggest?
Flying freeholds in Wheatley are not the norm but are more likely to exist in relation to terraced houses. Even where you use a solicitor outside Wheatley you would need to get your solicitor to go through the deeds thoroughly. Your bank may require your conveyancing solicitor to take out an indemnity policy. Some of the more diligent conveyancing solicitors in Wheatley 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 residence.
Should I instruct a Wheatley conveyancing solicitor based in the vicinity that I am buying? I have an old university friend who can handle the legal work but his firm is located 400miles drive away.
The benefit of a local Wheatley conveyancing practice is that you can drop in to sign documents, present your identification documents and pester them if necessary. They will also have local intelligence which is a bonus. However nothing is more important than finding someone that will do a good and efficient job. If you know people who used your friend and the majority were happy that should outweigh using an unfamiliar Wheatley conveyancing lawyer solely due to them being local.
I own a leasehold house in Wheatley. Conveyancing and Skipton Building Society mortgage are in place. A letter has just been received from someone claiming to own the reversionary interest in the property. Attached was a demand for arrears of ground rent dating back to 1996. The conveyancing solicitor in Wheatley who previously acted has now retired. Do I pay?
The first thing you should do is contact HMLR to make sure that this person is in fact the registered owner of the freehold reversion. It is not necessary to instruct a Wheatley conveyancing solicitor to do this as you can do this on the Land Registry website for a few pound. Rest assured that in any event, even if this is the legitimate freeholder, under the Limitation Act 1980 no more than 6 years of rent can be collected.
Leasehold Conveyancing in Wheatley - Sample of Queries Prior to buying
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On the whole the cost for major works tend not to be included within maintenance charges, albeit that a few managing agents in Wheatley require leaseholders to contribute towards a sinking fund and this is used to offset against major repairs or maintenance. The prefered form of lease structure is where the freehold interest is owned by the leaseholders. In this scenario the leaseholders have control and even though a managing agent is usually retained where the building is bigger than a house conversion, the managing agent is directed by the tenants.