I happen to be the single beneficiary of my late father’s will with all property in now in my sole name, including the house in Ditchling. The Ditchling property was put into my name in January. I now wish to sell up. I do know about the CML 6 month 'rule', which means that my proprietorship could be treated the same way as if I'd bought the house in January. Is the property unsalable for six months?
The Council of Mortgage Lenders’ handbook requires conveyancers to: "report to us immediately if the owner or registered proprietor has been registered for less than six months." By the strict wording you could be impacted by that. How practical a view lenders take of it, depend on the mortgage company as this requirement is chiefly there to capture the purchase and immediately sell or the quick reselling of properties.
Is there a list of Co-operative panel conveyancers in Ditchling on the UK Finance Lenders’ Handbook Website?
No. There is no such tool on the CML or Building Society Association websites. Very few mortgage companies make their panel listings available over the internet. If you are in need of a Ditchling lawyer on the Co-operative please make the most of our facility.
I was told four weeks ago that my mortgage has been agreed to by Skipton. Is it usual for Skipton to only issue the offer once my solicitor in Ditchling is approved on their conveyancing panel? Skipton have asked my solicitor to see a copy of their Professional Indemnity Insurance Schedule.
A lender would not issue an offer until they have details of a lawyer on their panel. It can take a few weeks for Skipton to deal with your lawyer's application to be on the Skipton conveyancing panel. There's no guarantee that your solicitor will be accepted.
Just acquired a semi-detached house in Ditchling , how long should it take for the Land Registry to record my ownership? My Ditchling conveyancing solicitor works at snail pace, so I want to be certain that my name is recorded.
As far as conveyancing in Ditchling registration is no faster or slower than anywhere else in the country. As opposed to being determined by geographic area, timescales can adjust subject to who lodges the application, whether there are errors and whether the Land registry need to notify any interested parties. Currently in the region of 80% of submission are completed in less than three weeks but occasionally there can be extensive hold-ups. Registration takes place after the buyer is living at the property therefore 'speed' is not typically top priority yet if there is a degree of urgency associated with the registration then you or your conveyancer should communicate with the Registry to express the reasoning for an expedited registration.
I have been on the look out for a ground for flat up to £195,000 and identified one near me in Ditchling I like with open areas and railway links nearby, however it only has 51 remaining years left on the lease. I can't really find anything else in Ditchling suitable, so just wondered if I would be making a grave error purchasing a short lease?
Should you need a home loan the shortness of the lease may be problematic. Discount the offer by the expected lease extension will cost if not already taken into account. If the current owner has owned the premises for a minimum of twenty four months you can request that they start the process of the extension and pass it to you. You can add 90 years to the existing lease term with a zero ground rent applied. You should consult your conveyancing solicitor about this matter.
We are 18 days into a freehold purchase having been recommend to solicitors by the selling agent to do our conveyancing in Ditchling. I am am very frustrated with the quality of service. Can you you assist me in finding new conveyancers?
They would need to be very bad in order to consider diss instructing them. Has your mortgage offer been generated? If so you will need to advise them of the new contact details and ensure the offer are issued to the new lawyers. Your solicitor ideally needs to be on the lenders panel to avoid escalating expenses and frustration. That should be your starting point. Our find a solicitor tool will assist you in finding a bank approved solicitor for your conveyancing in Ditchling
Estate agents have just been given the go-ahead to market my ground floor apartment in Ditchling. Conveyancing is yet to be initiated, however I have just received a half-yearly maintenance charge invoice – should I leave it to the buyer to sort out?
Your conveyancing lawyer is likely to suggest that you should clear the service charge as usual given that all rents and maintenance charges will be apportioned as part of the financial calculations for completion monies, so you should recover the relevant percentage by the purchaser for the period running from after the completion date to the next payment date. Most managing agents will not acknowledge the buyer until the service charges have been paid and are up to date, so it is important for both buyer and seller for the seller to show that they are up to date. Having a clear account will assist your cause and will leave you no worse off financially.
I own a 1st floor flat in Ditchling, conveyancing having been completed in 2004. Can you work out an approximate cost of a lease extension? Similar flats in Ditchling with over 90 years remaining are worth £206,000. The average or mid-range amount of ground rent is £45 charged once a year. The lease ends on 21st October 2092
With 66 years unexpired the likely cost is going to range between £12,400 and £14,200 plus plus your own and the landlord's "reasonable" professional fees.
The suggested premium range above a general guide to costs for extending a lease, but we are not able to supply the actual costs without more comprehensive investigations. Do not use this information in a Notice of Claim or as an informal offer. There may be other concerns that need to be taken into account and clearly you want to be as accurate as possible in your negotiations. You should not take any other action based on this information without first getting professional advice.