I am purchasing a property mortgage free in Ironbridge. I have been living for the last twelve years in Ironbridge. Conveyancing searches are exorbitant. As I know the road and vicinity very well must I have all the conveyancing searches?
In the absence of a mortgage, then all but one or two of the Ironbridge conveyancing searches are non-obligatory. Your solicitor will 'advise', no-doubt strongly, that you should have searches done, but he has a professional duty to take that path of encouragement . Do take into account; if you are likely to dispose of the house in the future, it will be of importance to your prospective purchaser what the searches determine. Sometimes houses with functional issues can still throw up unfavourable search results. A good conveyancing solicitor in Ironbridge will provide you some constructive advice in this regard.
Can you clarify what the consequences are if my lawyer’s firm is expelled from the UBS Conveyancing panel ahead of completing my conveyancing in Ironbridge?
First, this is a very rare occurrence. In most cases even where a law firm is removed off of a panel the lender would allow the completion to go ahead as the lender would appreciate the difficulties that they would place you in if you have to instruct a new solicitor days before completion. In a worst case scenario where the lender insists that you instruct a new firm then it is possible for a very good lawyer to expedite the conveyancing albeit that you may pay a significant premium for this. The analogous situation is where a buyer instructs a lawyer, exchanges contracts and the law firm is shut down by a regulator such as the SRA. Again, in this situation you can find lawyers who can troubleshoot their way to bring the conveyancing to a satisfactory conclusion - albeit for a fee.
I'm the sole beneficiary of my late mum's estate and I have everything in my name alone, including the house in Ironbridge. The Ironbridge property was put into my name in July. I plan to dispose of the house. I understand that there is a CML 6 month 'rule', which means that my proprietorship will be regarded the same way as if I'd bought the property in July. Do I have to wait half a year 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 could be affected by that. Some banks would take a practical view as this requirement is principally there to capture subsales or the wholesaling and assigning of properties.
Are all Ironbridge Conveyancing Quality Solicitors on the Skipton conveyancing list of approved solicitors?
Some major lenders now use the accreditation scheme as the kick off point for Panel membership such as HSBC and Santander. CQS membership however is no guarantee to lender panel acceptance. That being said,the CML have indicated that it is likely to become a pre-requisite for firms wishing to remain on their panels.
Planning on purchasing a house in Ironbridge. I have received an online quote from a licenced conveyancer, which states: "There will be no charge for dealing with the Lender if you are obtaining a mortgage". I take this to mean that there will be no additional fee if the solicitor is on the Nationwide 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 Ironbridge lawyer is on the Nationwide conveyancing panel.
I purchased a renovated Edwardian house in Ironbridge. Conveyancing practitioner acted for me and Platform Home Loans Ltd. I did a free Land Registry search last week and I saw two entries: the first freehold, the second leasehold with the exact same property. If a house is not a freehold shouldn't I have been informed?
You need to read the Freehold register you have again and check the Charges Register as there may be mention of a lease. The best way to be sure that you are also the registered owner of the leasehold and freehold title as well is to check (£3). It is not completely unheard of in Ironbridge and other locations in the country and poses no real issues for owners other than when they remortgage they have to account for both freehold and leasehold interests when dealing with purchasers. You can also check the position with your conveyancing practitioner who conducted the conveyancing.
Yesterday I discovered that there is a flying freehold element on a property I have offered on two weeks back in what was supposed to be a straight forward, chain free conveyancing. Ironbridge is the location of the property. Is there any advice you can give?
Flying freeholds in Ironbridge are rare but are more likely to exist in relation to terraced houses. Even where you use a solicitor outside Ironbridge you must be sure that your lawyer goes through the deeds diligently. Your bank may require your conveyancing solicitor to take out an indemnity policy. Some of the more diligent conveyancing solicitors in Ironbridge may determine that this is not enough and that the deeds be re-written to give you the most up to date legal protection. If so, the next door neighbour also had to sign up to the revised deeds.It is possible that your lender will not accept the situation so the sooner you find out the better. You should also check with your insurance broker as to whether they will insure a flying freehold property.