I am not well enough to travel far from Charmouth. What is the rationale as to why all Charmouth conveyancing practitioners aren't included on all mortgage company panels?
Before the recession most banks had an approach to risk which is different than today. The FSA in 2010 carried out a thematic review into mortgage fraud which concluded: know the property lawyers on your panel. Consequently, lenders have subsequently looked to extract more data from law firms concerning their processes and the individuals who work for them and set certain criteria such as completing a minimum volume of transactions. Hundreds of firms have been removed from lender panels even though they had an exemplary track record, no complaints and zero claims and didn't just 'dabble' in conveyancing. Such firms were never going to satisfy the criteria of volume of transactions the mortgage companies insisted on.
Finally the sale completed on my house in Charmouth last March but my buyer keeps e-mailing every few hours to say his lawyer is waiting to hear from mine. What are the post completion sale formalities now that I have sold?
After completion of your sale your lawyer should send the transfer documentation and all of the paperwork to the buyer’s lawyers. If applicable, your conveyancer should also send confirmation that the legal charge in favour of the lender has been paid off to the buyers lawyers. There are no post completion requirements peculiar conveyancing in Charmouth.
I require fast conveyancing in Charmouth as I am faced with an ultimatum to exchange contracts within one month. Fortunately I do not need a mortgage. Is it possible to avoid the conveyancing searches to save money and time?
As you are are a mortgage free purchaser you are at free not to have searches conducted although no law firm would recommend that you don't. Drawing on years of experience of conveyancing in Charmouth the following are instances of what can crop up and adversely affect future mortgageability: Enforcement Actions, Overdue Charges, Outstanding Grants, Unadopted Roads,...
Are there restrictive covenants that are commonly picked up during conveyancing in Charmouth?
Restrictive covenants can be picked up when reviewing land registry title as part of the legal transfer of property in Charmouth. 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…’
I opted to have a survey done on a property in Charmouth prior to appointing solicitors. I have been advised that there is a flying freehold aspect to the house. The surveyor advised that some mortgage companies may not give a mortgage on this type of premises.
It depends who your proposed lender is. Bank of Scotland has different requirements for example to Nationwide. Should you wish to call us we can look into this further with the appropriate lender. If you lender is happy to lend one our lawyers can help as they are accustomed to dealing with flying freeholds in Charmouth. Conveyancing can be more complicated and therefore you should check with your conveyancing solicitor in Charmouth to see if the conveyancing will be more expensive.