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 Lake. Conveyancing formalities meant that the Land Registry date was in August. I now wish to sell up. I understand that there is a CML six month 'rule', meaning my property ownership could be considered the same way as if I'd bought the property in August. Is the property unsalable for six months?
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 may be affected by that. many lenders would take a practical view as this requirement is chiefly there to pick up on subsales or the flipping of property.
I have a mortgage with Yorkshire BS for my property in Lake. Conveyancing was finalised 12 months ago. Should I wish to rent out the flat and do not currently have a buy-to-let mortgage do I need to remortgage to a BTL mortgage or inform Yorkshire BS?
You must advise Yorkshire BS prior to renting your property as this is likely to be a breach of Yorkshire BS’s mortgage conditions. It may be that Yorkshire BS will permit you to let out your former home without needing to switch to a buy-to-let mortgage but some lenders will add a surcharge to your mortgage rate to reflect the higher risk. You should contact Yorkshire BS directly. You need not do this via a Yorkshire BS conveyancing panel solicitor.
I have instructed a Lake conveyancing practitioner having checked that they are on the Principality conveyancing panel. Does my lawyer arrange the survey of the property?
Principality will need an independent valuation of the property. Your lawyer will not arrange this. Usually Principality will appoint their own surveyor to do this, and you will have to pay for it. Remember that this is a valuation for mortgage purposes and not a survey. You may wish to consider appointing your own Lake surveyor to carry out a survey or prepare a home buyers report on the property. It is up to you to satisfy yourself that the property is structurally sound before you buy it. If the survey or report reveals that building work is needed, you should tell your solicitor. You may wish to renegotiate with the seller.
Are there restrictive covenants that are commonly identified as part of conveyancing in Lake?
Covenants that are restrictive in nature can be picked up when reviewing land registry title as part of the process of conveyancing in Lake. An 1874 stipulation that was seen was ‘The houses to be erected on the estate are each to be of a uniform elevation in accordance with the drawings to be prepared or approved by the vendor’s surveyor…’
How simple is it to use the search facility to get a costs illustration from a conveyancing solicitor in Lake on the approved list for my bank?
1st pick a mortgage company such as Barclays , Barnsley Building Society or Godiva Mortgages Ltd then specify your preferred area for example Lake. Conveyancing firms in Lake and across England and Wales should be listed.
As co-executor for the estate of my father I am disposing of a residence in Newport but live in Lake. My solicitor (approximately 260 miles awayhas requested that I sign a statutory declaration ahead of completion. Could you suggest a conveyancing practitioner in Lake who can attest and place their company stamp on the document?
Technically speaking you should not need to have the documents attested by a conveyancing solicitor. Normally or notary public or qualified solicitor will do regardless of whether they are located in Lake
Our estate agent has suggested using their lawyer for our conveyancing in Lake - Surely it’s better to just use them?
This is not necessarily the case and you are at liberty to opt for whichever conveyancing practitioner you decide for your Lake conveyancing. A conveyancer recommended by an estate agent may not necessarily be the right conveyancer, they may put forward their own conveyancing firm who are based remotely. In this instance you may not have contact with your lawyer and due to the lack of continuity in the transaction, it may be difficult to obtain progress reports.