I'm the only recipient of my late grandmother’s estate and I have everything in my name now, including the house in Diss. Conveyancing formalities meant that the Land Registry date was in January. I plan to dispose of the house. I do know about the CML six month 'rule', which means that my property ownership may be treated the same way as though I had purchased the house in January. Will no one buy the property for half a year?
The CML handbook mandates solicitors to: "report to us immediately if the owner or registered proprietor has been registered for less than six months." Technically you could be affected by that. Some banks would take a pragmatic view as this clause is primarily there to capture subsales or the flipping of property.
I am purchasing a property in Diss. One unusual aspect is that the roof has a solar panel. HSBC have issued a mortgage offer so presumably this is not a concern to them. Why is my solicitor raising questions about the panel?
As your lender is HSBC your lawyer must follow the conveyancing instructions outlined in Section 2 of UK Finance Lenders’ Handbook for HSBC. The CML Handbook sets out minimum requirements for solar panel roof-space leases, and property lawyers are required to report to HSBC where a lease fails to meet these requirements. The conditions relate to the installation of panels on properties countrywide and is not isolated to Diss.
I was told two weeks ago that my mortgage has been agreed to by UBS. Is it usual for UBS to only issue the offer once my solicitor in Diss is approved on their conveyancing panel? UBS have asked my solicitor to see a copy of their Professional Indemnity Insurance Schedule.
A lender would not issue a mortgage until they have details of a lawyer on their panel. It can take a few weeks for UBS to deal with your lawyer's application to be on the UBS conveyancing panel. There's no guarantee that your solicitor will be accepted.
3 months have elapsed following my purchase conveyancing in Diss took place. I have checked the Land Registry site which shows that I paid £150,000 when infact I paid £180,000. Why the discrepancy?
The price paid figure is taken from the application to register the purchase. It is the figure included in the Transfer (the legal deed which transfers the premises from one person to the other) and referred to as the 'consideration' or purchase price. You can report an error in the price paid figure using the LR online form. In most cases errors result from typos so at first glance the figure. Do report it so they can double check and advise.
Over the last few months I have been searching for a leasehold apartment up to £305k and identified one close by in Diss I like with open areas and station in the vicinity, the downside is that it only has 61 years unexpired on the lease. There is not much else in Diss in this price bracket, so just wondered if I would be making a grave error acquiring a lease with such few years left?
Should you need a home loan the remaining unexpired lease term will likely be problematic. Reduce the offer by the amount the lease extension will cost if not already taken into account. If the existing owner has owned the property for at least twenty four months you can request that they commence the lease extension formalities and then assign it to you. You can add 90 years to the current lease and have £0 ground rent by law. You should speak to your conveyancing lawyer about this.
As co-executor for the will of my aunt I am disposing of a house in Swansea but reside in Diss. My solicitor (approximately 235 kilometers from merequires that I sign a stat dec before completion. Could you suggest a conveyancing practitioner in Diss to attest and place their company stamp on the document?
Technically speaking you are not likely to need to have the documents witnessed by a conveyancing solicitor. Ordinarily or notary public or solicitor will be fine regardless of whether they are located in Diss
Why can I not complete my conveyancing in Diss on Easter Monday?
Because on completion the purchase price needs to be transferred electronically between the banks of the buyer and owner’s solicitor and currently this can only occur on a working day. So you can't complete on a saturday or sunday either.