My bid for a property was accepted at auction in Wotton under Edge. Conveyancing is needed. What happens now?
Now that you are exchanged you will need to choose a conveyancing lawyer soon as you are facing a tight a fixed date to complete the deal. All auction property will ordinarily have a corresponding auction pack. This will likely include the copy title deeds, local authority and drainage searches. If you have purchased leasehold premises the legal papers should include a copy of the lease, management information and a sellers leasehold information form and other conveyancing documentation pertinent to leasehold premises. You should hand this to the solicitor working for you at the earliest opportunity. Do make sure that your finances are in place to complete the transaction on the set completion date.
I have today made my last payment due on my mortgage with Santander. I assume I don't need a Wotton under Edge solicitor on the Santander panel to remove the mortgage at the Land Registry. Am I right?
If you have finished paying off your Santander mortgage, they may send you evidence showing that you have paid it off. Alternatively they may notify the Land Registry directly. The Land Registry need to see this evidence before they will remove the Santander mortgage from the register. Santander, and any evidence they send you, will determine the action you need to take. In cases where no conveyancer is acting for you and you have paid off your mortgage:
- but are not moving to another property
- where Santander has sent the Land Registry the discharge electronically, and
- Santander has instructed the Land Registry to do so
I have decided to exercise my right to buy my property in Wotton under Edge off the council. I have a mortgage agreed with Lloyds. 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 Lloyds, you will need to appoint a solicitor on the Lloyds conveyancing panel.
Is it necessary to take out insurance to cover chancel repairs when purchasing a residence in Wotton under Edge?
Unless a previous purchase of the property took place after 12 October 2013 you could assume that solicitors conducting conveyancing in Wotton under Edge to continue to advocate a chancel search and or chancel repair liability policy.
Yesterday I discovered that there is a flying freehold issue on a property I put an offer in last month in what should have been a quick, no chain conveyancing. Wotton under Edge is where the house is located. Can you shed any light on this issue?
Flying freeholds in Wotton under Edge are rare but are more likely to exist in relation to terraced houses. Even though you don't necessarily need a conveyancing solicitor in Wotton under Edge 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 Wotton under Edge may ascertain 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.
I was advised by two or three local selling agents in Wotton under Edge to get a quote from a solicitor using your seach tool. Is there a financial advantage for Estate Agents to recommend your lawyers over and above alternative conveyancing organisations?
We don’t offer any financial incentive for sending work our way. We found it would be just too difficult to pay a commission as a client could think, ‘How come the agent getting a kickback? Why am I not receiving any benefit too?’ So we decided to step away from that.
Am I better off to go with a Wotton under Edge conveyancing practitioner in close proximity to the house I am hoping to buy? An old friend can conduct the legal formalities however they are based approximately 350miles away.
The benefit of a local Wotton under Edge conveyancing practice is that you can drop in to sign documents, present your ID and apply pressure on them if necessary. They will also have local insight which is a plus. That being said nothing is more important than finding someone that will pull out all the stops for you. If other friends have used your friend and on the whole were happy that should trump using an unfamiliar Wotton under Edge conveyancing lawyer solely due to them being based in the area.
My wife and I plan to purchase our first home in Wotton under Edge. Conveyancing practitioner already instructed. The mortgage adviser pointed out that a survey is not appropriate as the property was only constructed 16 yrs ago.
At the very least you should order a Home Buyer's Report. As the property is over ten years old the property will not come with a warranty, so you would be well advised not to take a risk. Where a property of this age shows no signs of problems a Home Buyer's report may be enough. They will highlight any apparent problems and suggest further investigation if appropriate. Where there are any signs of material issues seek a comprehensive structural survey.