I instructed a Netherley based solicitor for my conveyancing in Netherley yesterday. Upon checking the official terms of business I seewe are responsible for charges even if the sale aborts. Would I be best advised to appoint an on-line lawyer offering no-sale-no-fee conveyancing in Netherley?
Generally there is a concession along the lines that if "No Completion No Fee" is offered then the conveyancing charges will generally be more expensive to offset the conveyances that abort. You should be mindful that such deals rarely cover outlay for instance Netherley conveyancing search fees.
I am the sole recipient of my late father’s will and I have everything in my name now, including the my former home in Netherley. Conveyancing formalities meant that the Land Registry date was in June. I now wish to sell up. I understand that there is a CML six month 'rule', which means that my property ownership could be regarded the same way as though I had purchased the house in June. Do I have to wait 6 months to sell?
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 may be impacted by that. Some lenders would take a pragmatic view as this obligation primarily exists to pick up on subsales or the flipping of properties.
We have a mortgage agreed in principle with Aldermore. Netherley conveyancing practitioners were appointed. How long does it take for Aldermore to forward the offer to the conveyancer?
Some lenders take longer than others. Have Aldermore done the valuation? Have you informed Aldermore as to your lawyers' details and checked that your lawyers are on the Aldermore conveyancing panel? Sometimes it can take as long as six weeks for a mortgage offer to be issued.
It is not clear whether my bank requires a lease extension. I have called into my local Netherley bank branch on various occasions and was reassured it wasn't an issue and they would lend. My Netherley conveyancing solicitor - who is on the mortgage company conveyancing panel- telephoned and was told they refuse to lend in accordance with their published requirements. Who do I believe?
Provided that the conveyancer is on the bank panel, they must comply with the CML Handbook specifications for the lender. Unless your lawyer obtains specific confirmation in writing that the lender will go ahead, your lawyer has no choice but to refrain from exchanging contract and committing you to the purchase. We would suggest that you ask the mortgage company to contact your lawyer in writing confirming that they will accept the number of years left on the lease.
I am downsizing from our house in Netherley and the buyers lawyers are claiming that there is a risk of it being constructed land that was not decontaminated. A high street Netherley lawyer would know this is not the case. It does beg the question why the buyers instructed an internet conveyancing outfit as opposed to a conveyancing solicitor in Netherley. We have lived in Netherley for many years we know of no issue. Should we contact our local Authority to obtain confirmation need.
It sounds as though you may have a conveyancing firm already. Are they able to advise? You should enquire of your lawyer before you do anything. It is very possible that once the local authority has been informed of a potential issue it cannot be insured against (a bit like being diagnosed with a serious illness and then taking out life insurance to cover that same ailment)
Are there restrictive covenants that are commonly picked up during conveyancing in Netherley?
Restrictive covenants can be picked up when reviewing land registry title as part of the process of conveyancing in Netherley. 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 does conveyancing in Netherley differ for new build properties?
Most buyers of new build premises in Netherley approach us having been asked by the housebuilder to exchange contracts and commit to the purchase even before the residence is completed. This is because house builders in Netherley tend to acquire the real estate, 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 Netherley or who has acted in the same development.