I am the only beneficiary of my late mum's will with all property in now in my sole name, including the house in Belper. The Belper property was put into my name in January. I want to move. I understand that there is a Mortgage Lenders 6 month 'rule', which means that my proprietorship may be considered the same way as though I had purchased the house in January. Is the property unsalable for six months?
The CML 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 might be impacted by that. How practical a view lenders take of it, depend on the mortgage company as this obligation chiefly exists to identify the purchase and immediately sell or the flipping of properties.
When it comes to lenders such as Nationwide, do Belper solicitors have to pay a fee to be on the list of approved solicitors?
We are unaware of any lender fees to be on their panel, although some do charge an administration charge to deal with the processing of the conveyancing panel application.
Two weeks ago we had a mortgage agreed in principle with Clydesdale. Belper conveyancing practitioners were appointed. How long does it take for Clydesdale to send the offer to the conveyancer?
There is no definitive answer here. Have Clydesdale completed the survey? Have you advised Clydesdale as to your lawyers' details and checked that your lawyers are on the Clydesdale conveyancing panel? It is not unusual for a mortgage offer to take a month to come through.
I've recently found out that there is a flying freehold issue on a house I put an offer in two weeks back in what should have been a simple, no chain conveyancing. Belper is the location of the property. Is there any advice you can give?
Flying freeholds in Belper are unusual but are more likely to exist in relation to terraced houses. Even where you use a solicitor outside Belper you would need to get your solicitor to go 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 Belper 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.
Is it simple use the search facility to get a fee calculation from a conveyancing lawyer in Belper on the approved list for my mortgage?
Step one is to pick a mortgage company such as Accord Mortgages Ltd, Virgin Money or Barclays Direct then type in your location such as Belper. Conveyancing firms in Belper and nationally should be identified.
I've recently bought a leasehold property in Belper. Am I liable to pay service charges for periods before my ownership?
In a situation where the service charge has already been demanded from the previous lessee and they have not paid you would not usually be personally liable for the arrears. Strange as it may seem, your landlord may still be able to take action to forfeit the lease. It is an essential part of leasehold conveyancing for your conveyancer to be sure to have an up to date clear service charge receipt before completion of your purchase. If you have a mortgage this is likely to be a requirement of your lender.
If you purchase part way through an accounting year you may be liable for charges not yet demanded even if they relate to a period prior to your purchase. In such circumstances your conveyancer would normally arrange for the seller to set aside some money to cover their part of the period (usually called a service charge retention).
I am the registered owner of a 1 bedroom flat in Belper, conveyancing formalities finalised in 2005. Can you work out an approximate cost of a lease extension? Similar flats in Belper with over 90 years remaining are worth £197,000. The average or mid-range amount of ground rent is £55 per annum. The lease ceases on 21st October 2074
With just 55 years unexpired we estimate the premium for your lease extension to range between £31,400 and £36,200 plus plus your own and the landlord's "reasonable" professional fees.
The figure above a general guide to costs for renewing a lease, but we are not able to supply a more accurate figure in the absence of comprehensive investigations. You should not use this information in tribunal or court proceedings. There may be other issues that need to be considered and clearly you want to be as accurate as possible in your negotiations. You should not take any other action placing reliance on this information without first seeking the advice of a professional.
I note that you have a search directory identifying law firms on the bank conveyancing panel. Do Belper conveyancing firms pay you a referral fee if I instruct them for my conveyancing?
We are a listing service only for law firms wishing to communicate if they are on the bank conveyancing panel or other lender panels. We do not charge referral fees to the any conveyancer that you subsequently appoint for your conveyancing in Belper.