I am the single recipient of my late grandmother’s will and I have everything in my name alone, including the my former home in Denbighshire. Conveyancing formalities meant that the Land Registry date was in September. I now wish to sell up. I understand that there is a CML six month 'rule', which means that my property ownership could be considered the same way as if I'd bought the house in September. Do I have to wait 6 months to sell?
The Council of Mortgage Lenders’ handbook instructs solicitors to: "report to us immediately if the owner or registered proprietor has been registered for less than six months." Technically you might be affected by that. many lenders would take a practical view as this obligation chiefly exists to pick up on the purchase and immediately sell or the quick reselling of property.
We previously appointed conveyancing lawyers located in Denbighshire on the Co-operative solicitor approved list. They are now charging me a separate fee for handling the Co-operative mortgage. Is this an additional conveyancing fee specified by Co-operative?
Provided it is contained in their Terms of Engagement or Quote then yes your lawyer is entitled to charge a fee for this. This charge is not dictated by Co-operative but by your Denbighshire conveyancing practitioner. Numerous firms on the Co-operative panel will levy ’dealing with mortgage’ fee and others do not.
Clydesdale have agreed my home loan in principle, my bid on a apartment in Denbighshire has been accepted, what are the next steps?
The estate agent will need to be informed of your lawyer's details (be sure the conveyancing practitioners are on the bank’s panel). Telephone Clydesdale or your broker and finish off any relevant forms. Clydesdale will sellect a valuer who will get in contact with the selling agent or seller to schedule a slot for the valuation to happen. Once carried out (assuming no problems) it takes about a week to get a mortgage offer. Clydesdale will issue the offer to you and your conveyancers. The legal work will then take it’s course according the nature and complexity of the conveyancing in Denbighshire.
How does conveyancing in Denbighshire differ for new build properties?
Most buyers of new build property in Denbighshire come to us having been asked by the seller to sign contracts and commit to the purchase even before the house is constructed. This is because house builders in Denbighshire usually buy the real estate, plan the estate and want to get the plots sold off as they are building the properties. Buyers, therefore, will have to exchange contracts without actually seeing the house they are buying. To reduce the chances of losing the property, buyers should instruct conveyancing solicitors as soon as the property is reserved and mortgage applications should be submitted quickly. Due to the fact that it could be several months and even years between exchange of contracts and completion, the mortgage offer may need to be extended. It would be wise to use a lawyer who specialises in new build conveyancing especially if they are accustomed to new build conveyancing in Denbighshire or who has acted in the same development.
Due to the advice of my in-laws I had a survey completed on a house in Denbighshire in advance of retaining lawyers. I have been informed that there is a flying freehold element to the house. Our surveyor has said that some mortgage companies will not grant a loan on this type of premises.
It varies from the lender to lender. Bank of Scotland has different requirements for example to Halifax. Should you wish to telephone us we can look into this further via the relevant lender. If you lender is happy to lend one our lawyers can assist as they are accustomed to dealing with flying freeholds in Denbighshire. Conveyancing will be smoother if you use a solicitor in Denbighshire especially if they are familiar with such properties in Denbighshire.
I'm converting the mortgage on my primary house to a BTL loan with Barclays and intend to use the remaining equity as a down payment on another property. The neighborhood we are interested in is Denbighshire. Will your conveyancers be able to act for the two mortgage companies and link together the conveyances?
Do use our search tool on this site to ensure that the conveyancers are approved by both mortgage companies. Having checked that they are the conveyancer should be able to connect the two transactions but you should talk with you solicitor and specify your expectations and requirements.
Why do I have to send my property lawyer with various items of identification ahead of starting selling or buying a property in Denbighshire?
Denbighshire conveyancing practitioners are obliged by the Law Society, Solicitors Regulation Authority, the Land Registry and current Money Laundering legislation to certify that the have verified the identity of their clients. It will also be a requirement of your lender if you are taking a mortgage. In addition they have to complete various forms, particularly those relating to SDLT and need to have information such as your full names, NI number and DOB.