My partner and I are buying a new build apartment in Bilborough and my solicitor is informing me that she has to the bank to disclose incentives from the developer. I am nearing the developer’s deadline to exchange and I would rather not prolong the conveyancing. Is my lawyer right?
You should not exchange unless you have been advised to do so by your conveyancing practitioner. A precondition to being on a bank panel is to comply with the UK Finance Lenders’ Handbook provisions. The CML Conveyancing Handbook requires that your lawyer have the appropriate Disclosure of Incentive form completed by the developer and accepted by your lender.
What is the difference between a licensed conveyancer and conveyancing solicitor in Bilborough
Two types of professional can perform conveyancing in Bilborough namely licenced conveyancers or solicitors. Both professionals provide conveyancing services that you need to complete the disposal or purchase of property. Both are duty bound to perform Bilborough conveyancing to the same quality and guidelines so you can be safe in the knowledge that your conveyancing will be professionally administered and that all requirements and procedures should be correctly attended to.
I am the only beneficiary of my late father’s estate with all property in now in my sole name, including the house in Bilborough. Conveyancing formalities meant that the Land Registry date was in September. I plan to dispose of the house. I understand that there is a CML 6 month 'rule', which means that my property ownership will be considered the same way as though I had purchased the property in September. Is the property unsalable for six months?
The CML handbook obliges solicitors to: "report to us immediately if the owner or registered proprietor has been registered for less than six months." Technically you could be impacted by that. many mortgage companies would take a practical view as this obligation primarily exists to identify the purchase and immediately sell or the flipping of properties.
I have today made my last payment due on my mortgage with RBS. I assume I don't need a Bilborough conveyancing practitioner on the RBS panel to discharge the mortgage at the Land Registry. Am I right?
If you have finished paying off your RBS 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 RBS mortgage from the register. RBS, 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 RBS has sent the Land Registry the discharge electronically, and
- RBS has instructed the Land Registry to do so
Yesterday I discovered that there is a flying freehold element on a house I put an offer in a fortnight ago in what was supposed to be a quick, chain free conveyancing. Bilborough is where the house is located. Can you shed any light on this issue?
Flying freeholds in Bilborough are not the norm but are more likely to exist in relation to terraced houses. Even though you don't necessarily need a conveyancing solicitor in Bilborough you would need to get your solicitor to go through the deeds diligently. Your bank may require your conveyancing solicitor to take out an indemnity policy. Some of the more diligent conveyancing solicitors in Bilborough 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.
In what way does the Landlord & Tenant Act 1954 impact my business property in Bilborough and how can your lawyers assist?
The particular law that you refer to affords security of tenure to commercial tenants, giving them the a statutory right to make a request to court for a continuation of occupancy at the end of an expired lease. There are limited grounds where a landlord can refuse a lease renewal and the rules are complex. Fees are different for commercial conveyancing. Bilborough is one of the hundreds of areas of the UK in which the firms we work with are based
My cousin has suggested that I appoint his conveyancing solicitors in Bilborough. Do I follow his guidance?
No doubt the ideal way to choose a conveyancing practitioner is to get referrals from friends or family who have actually experience in using the firm that you are considering.