I'm the single beneficiary of my late father’s will with all property in now in my sole name, including the house in Abridge. The Abridge property was put into my name in June. I plan to dispose of the house. I understand that there is a CML 6 month 'rule', which means that my proprietorship will be treated the same way as if I'd bought the property in June. Is the property unsalable for six months?
The CML handbook obliges conveyancers to: "report to us immediately if the owner or registered proprietor has been registered for less than six months." By the strict wording you might be caught by that. How sensible a view lenders take of it, depend on the mortgage company as this clause principally exists to capture subsales or the quick reselling of property.
I'm in the process of looking at flats in Abridge and I am now considering a potential offer. Is it advisable to have my conveyancing practitioner on ‘stand by’? I intend to finance via a mortgage with Co-operative.
It would be wise to start your search sooner rather than later. After you have chosen your lawyer and once your offer is accepted you can instruct them to work for you and pass their details on to the EA. Given that you are obtaining a mortgage with Co-operative, make sure you remember to check that your lawyer is on the Co-operative conveyancing panel.
Lloyds have agreed my mortgage in principle, my offer on a property in Abridge has been agreed to, what are the next steps?
The estate agent will wish to be informed of your lawyer's details (ensure that the property lawyers are on the lender’s panel). Call up Lloyds or your financial adviser and complete any outstanding paperwork. Lloyds will instruct a valuer who will get in touch with the selling agent or vendor to arrange a time for the valuation to occur. Once carried out (assuming no problems) it takes about a fortnight for the mortgage offer to be issued. Lloyds will issue the offer to you and your conveyancing practitioners. The legal work will then take it’s course according the nature and complexity of the conveyancing in Abridge.
Are there restrictive covenants that are commonly identified during conveyancing in Abridge?
Restrictive covenants can be picked up when reviewing land registry title as part of the process of conveyancing in Abridge. An 1874 stipulation that was seen was ‘The houses to be erected on the estate are each to be of a uniform elevation in accordance with the drawings to be prepared or approved by the vendor’s surveyor…’
Due to the advice of my in-laws I had a survey completed on a property in Abridge in advance of appointing lawyers. I have been told that there is a flying freehold overhang to the property. Our surveyor advised that some banks may refuse to issue a loan on such a home.
It depends who your proposed lender is. Bank of Scotland has different requirements from Birmingham Midshires. Should you wish to telephone us we can check via the relevant bank. If you lender is happy to lend one our lawyers can assist as they are used to dealing with flying freeholds in Abridge. Conveyancing may be slightly more expensive based on your lender's requirements.
Is it simple use your search tool to find a conveyancing solicitor in Abridge on the panel for my lender?
Step one is to select a lender such as Yorkshire Building Society, The Royal Bank of Scotland or Alliance & Leicester then type in your location for example Abridge. Conveyancing organisations in Abridge and further afield should be listed.
Is there an average conveyancing fee for conveyancing in Abridge?
The average cost last year for conveyancing in Abridge was £1,419 not including Land Tax and HM Land Registry charges.