I happen to be the only beneficiary of my late mum's will with all property in now in my sole name, including the my former home in Barry Island. The Barry Island property was put into my name in August. I now wish to sell up. I do know about the Mortgage Lenders six month 'rule', meaning my proprietorship could be treated the same way as if I'd bought the house in August. Will no one buy the property for half a year?
The CML handbook obliges 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 might be caught by that. How sensible a view banks take of it, depend on the mortgage company as this requirement is principally there to pick up on subsales or the wholesaling and assigning of property.
I'm at the point of looking at houses in Barry Island and I am now considering a potential offer. Is it sensible to have a conveyancing practitioner on ‘stand by’? I will be getting a mortgage with Aldermore.
You should start requesting conveyancing estimates from solicitors ASAP. Once you decide who you want to use and once your offer is accepted you can instruct them to work for you and forward their contact information on to the EA. As you are obtaining a mortgage with Aldermore, make sure you remember to check that your lawyer is on the Aldermore conveyancing panel.
I have decided to exercise my right to buy my property in Barry Island off the council. I have a mortgage agreed with Kent Reliance. Conveyancing is not something I have any knowledge of. 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 Kent Reliance, you will need to appoint a solicitor on the Kent Reliance conveyancing panel.
I moved into my home on 10 June and the transaction details is yet to be on the land registry website. Need I be worried? My conveyancing solicitor in Barry Island expressed confidence that it should be registered inside ten days. Are titles in Barry Island uniquely lengthy to register?
There is nothing unique when it comes to conveyancing in Barry Island registration formalities. Rather than based on location, timeframes can vary according to who lodges the application, whether it is in order and if the Land registry need to notify any third persons or bodies. At present in the region of three quarters of submission are fully dealt with within 12 days but some can be subject to longer hold-ups. Historically registration takes place once the purchaser has moved in to the property therefore 'speed' is not typically top priority yet where there is a degree of urgency associated with the registration then you or your solicitor must communicate with the Registry to express the reasoning for an expedited registration.
I am buying a new build house in Barry Island with a loan from TSB. The developers would not reduce the amount so I negotiated £7000 of fixtures and fittings instead. The property agent told me not to tell my solicitor about this deal as it may adversely affect my loan with the bank. Do I keep my lawyer in the dark?.
All lenders require a Disclosure of Incentives Form from the developer of any new build, converted or renovated property, It is available online from the Lenders’ Handbook page on the CML website. CML form is completed and handed to the lender's surveyor when the inspection is done.
Lenders have different policies on incentives. Some accept none at all, cash or physical, while others will accept cash incentives up to 5%.
Hard to understand why the representative of a builder would be suggesting you withold information from a solicitor when all this will be clearly visible on forms the builder has to supply to its solicitor, the buyer's solicitor and the surveyor.
Yesterday I discovered that there is a flying freehold issue on a house I have offered on last month in what should have been a straight forward, no chain conveyancing. Barry Island is where the house is located. What do you suggest?
Flying freeholds in Barry Island are rare but are more likely to exist in relation to terraced houses. Even though you don't necessarily need a conveyancing solicitor in Barry Island you must be sure that your lawyer goes through the deeds very carefully. Your lender may require your conveyancing solicitor to take out an indemnity policy. Some of the more diligent conveyancing solicitors in Barry Island may decide 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 property.
I need to appoint a conveyancing solicitor for sale conveyancing in Barry Island. I happened to stumble upon a site which seems to have the perfect offering If it is possible to get all this stuff done via email that would be ideal. Do I need to be wary? What should out be looking out for?
As usual with these online conveyancers you need to read ALL the small print - did you notice the extra charge for dealing with the mortgage?