This question may be naive but I am new to the home moving as FTB of a garden flat in Gloucester. Do I collect the keys to the premises on completion from my lawyer? If this is the case, I will find a High Street conveyancing solicitor in Gloucester?
On the day of completion you will not be required to attend the conveyancers office in Gloucester. Conveyancing lawyers for you will transfer the purchase money to the seller's lawyers, and shortly after the monies have arrived, you will be able to pick up the keys from the selling Agents and move into your new home. This tends to happen between 1 and 3pm.
I happen to be the single beneficiary of my late mum's will and I have everything in my name now, including the my former home in Gloucester. The Gloucester property was put into my name in January. I now wish to sell up. I do know about the CML 6 month 'rule', meaning my proprietorship may be considered 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 mandates conveyancers to: "report to us immediately if the owner or registered proprietor has been registered for less than six months." Technically you might be impacted by that. many mortgage companies would take a practical view as this requirement primarily exists to capture subsales or the wholesaling and assigning of properties.
Planning on purchasing a apartment in Gloucester. I have received an online quote from a licenced conveyancer, which states: "There will be no charge for dealing with the Building Society if you are obtaining a mortgage". I take this to mean that there will be no additional fee if the solicitor is on the Yorkshire BS conveyancing panel. I wanted to make sure it means there will be no additional fees for dealing with the mortgage.
They are simply saying that the cost for acting for the lender is included in the fee being quoted. It is worth you checking that the Gloucester property lawyer is on the Yorkshire BS conveyancing panel.
It has been three months following my purchase conveyancing in Gloucester concluded. I have checked the Land Registry website which shows that I paid £175,000 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 property 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.
How does conveyancing in Gloucester differ for new build properties?
Most buyers of new build or newly converted property in Gloucester come to us having been asked by the seller to sign contracts and commit to the purchase even before the residence is built. This is because builders in Gloucester tend to purchase the site, 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 conveyancers 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 Gloucester or who has acted in the same development.
I decided to have a survey carried out on a property in Gloucester ahead of retaining solicitors. I have been told that there is a flying freehold overhang to the house. The surveyor advised that some lenders may not give a loan on such a home.
It varies from the lender to lender. HSBC has different requirements from 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 Gloucester. Conveyancing will be smoother if you use a solicitor in Gloucester especially if they regularly deal with such properties in Gloucester.
Should I choose a Gloucester conveyancing lawyer in close proximity to the house I am buying? I have an old university friend who can conduct the legal formalities but his firm is located 300miles away.
The primary upside of using a local Gloucester conveyancing practice is that you can attend the office to sign documents, present your ID and pester them where appropriate. Having local Gloucester know how is a bonus. However nothing is more important than finding someone that will do a good and efficient job. If other friends have used your friend and in the main were content that should outweigh using an unfamiliar Gloucester conveyancing lawyer just because they are Gloucester based.