I'm the single beneficiary of my late father’s will and I have everything in my name alone, including the house in Monmouthshire. The Monmouthshire property was put into my name in August. I now wish to sell up. I understand that there is a CML 6 month 'rule', meaning my property ownership will be considered the same way as though I had purchased the house in August. Is the property unsalable for six months?
The CML handbook obliges solicitors to: "report to us immediately if the owner or registered proprietor has been registered for less than six months." Technically you may be caught by that. How sensible a view banks take of it, depend on the bank as this obligation is chiefly there to capture the purchase and immediately sell or the quick reselling of properties.
I am due to exchange contracts on my flat. I had a double glazing fitted in January 2010, but did not receive a FENSA certificate or Building Regulation Certificate. My purchaser’s lender, Virgin Money are being a right pain. The Monmouthshire solicitor who is on the Virgin Money conveyancing panel is recommending indemnity insurance as a solution but Virgin Money are insisting on a building regulation certificate. Why do Virgin Money have a conveyancing panel if they don't accept advice from them?
It is probably the case that Virgin Money have referred the matter to their valuer. The reason why Virgin Money may not want to accept indemnity insurance is because it does not give them any reassurance that the double glazing was correctly and safely installed. The indemnity insurance merely protects against enforcement action which is very unlikely anyway.
I've read lots of mortgage guides, I note that it is considered advisable to get your house surveyed prior to buying it. When I asked my local Monmouthshire solicitor - who is on the Kent Reliance conveyancing panel - on this she said they don't do this and I need to contract an independent surveyor. Is that normal?
Kent Reliance will need an independent valuation of the property. Your lawyer will not arrange this. Usually Kent Reliance 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 Monmouthshire 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.
Due to the input of my in-laws I had a survey completed on a house in Monmouthshire in advance of retaining solicitors. I have been told that there is a flying freehold overhang to the house. The surveyor advised that some mortgage companies may refuse to give a loan on this type of premises.
It depends who your proposed lender is. Santander has different instructions for example to Birmingham Midshires. If you contact us we can check with the relevant bank. If you lender is happy to lend one our lawyers can help as they are accustomed to dealing with flying freeholds in Monmouthshire. Conveyancing can be more complicated and therefore you should check with your conveyancing solicitor in Monmouthshire to see if the conveyancing will be more expensive.
Is it possible to change solicitor as I have to choose a firm on the Bank of Scotland conveyancing panel. I had appointed a high street conveyancing solicitor in Monmouthshire round the corner but he is not accepted by Bank of Scotland
We will our best to assist in finding you a conveyancing solicitor in Monmouthshire on the Bank of Scotland panel. Please note that the law firms that we work with do not pay us commission if you instruct them and are authorised and regulated by the Solicitors Regulation Authority who oversee all conveyancing solicitors in Monmouthshire. In making use of the find a conveyancing solicitor tool on this website, you can compare and instruct different solicitors and conveyancers both nationally and in Monmouthshire.
I have been sourcing a conveyancing lawyer in Monmouthshire for my remortgage. Is there any facility to see a firm’s complaints history with the legal regulator?
Anyone can see published Solicitor Regulator Association (SRA) determinations arising from inquisitions started on or after Jan 2008. Visit Check a solicitor's record. To find details Pre 2008, or to check a firm's record, call 0870 606 2555, 08.00 - 18.00 Monday, Wednesday, Thursday, Friday and 09.30 - 18.00 Tuesday. For non-uk callers, call +44 (0)121 329 6800. The regulator sometimes monitor telephone calls for training reasons.
Last March I purchased a leasehold flat in Monmouthshire. Am I liable to pay service charges relating to a period prior to my ownership?
In a situation where the service charge has already been demanded from the previous owner and they have not paid you would not usually be personally liable for the arrears. Strange as it may seem, your landlord may still be able to take action to forfeit the lease. A critical element of leasehold conveyancing for your conveyancer to be sure to have an up to date clear service charge receipt before completion of your purchase. If you have a mortgage this is likely to be a requirement of your lender.
If you purchase part way through an accounting year you may be liable for charges not yet demanded even if they relate to a period prior to your purchase. In such circumstances your conveyancer would normally arrange for the seller to set aside some money to cover their part of the period (usually called a service charge retention).
Leasehold Conveyancing in Monmouthshire - A selection of Queries Prior to Purchasing
Its a good idea to find out as much as possible concerning the company managing the building as they will either make your living at the property much simpler or problematic. As the proprietor of a leasehold property you are frequently in the clutches of the managing agents from a financial perspective and when it comes to practical matters such as the tidiness of the common parts. Enquire of other tenants if they are happy with their management. On a final note, investigate as to the dates that you are obliged pay the maintenance charge to the managing agents and precisely what it includes. Is anyone aware of any major works in the planning that could increase the maintenance costs?