My house in Rumney is up for sale and I have a buyer. Does the property lawyer have to be required to be on the Co-operative conveyancing panel in order to deal with repayment of my mortgage?
Ordinarily, even if your lawyer is not on the Co-operative conveyancing panel they can still act for you on your sale. It might be that the lender will not release the original deeds (if applicable and increasingly irrelevant) until after the mortgage is paid off. You should speak to your lawyer directly before you start the process though to ensure that there is no problem as lenders are changing their specifications fairly frequently currently.
My wife and I have a semi-detached Victorian house in Rumney. Conveyancing solicitor acted for me and Leeds Building Society. I did a free Land Registry search last week and I saw a couple of entries: the first freehold, another for leasehold with the exact same property. Is it worth asking Leeds Building Society to clarify?
You should review 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 proprietor of the leasehold and freehold title as well is to check (£3). It is not completely unheard of in Rumney and other areas of the country and poses no real issues for owners other than when they mortgage they have to account for both freehold and leasehold interests when dealing with lenders. You can also check the position with your conveyancing solicitor who conducted the purchase.
How does conveyancing in Rumney differ for newly converted properties?
Most buyers of new build residence in Rumney approach us having been asked by the seller to exchange contracts and commit to the purchase even before the house is ready to move into. This is because new home sellers in Rumney typically buy 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 Rumney or who has acted in the same development.
Due to the guidance of my in-laws I had a survey completed on a property in Rumney prior to instructing conveyancers. I have been advised that there is a flying freehold overhang to the property. The surveyor advised that some banks tend refuse to grant a mortgage on this type of home.
It depends who your proposed lender is. Bank of Scotland has different requirements from Birmingham Midshires. Should you wish to call us we can check via the appropriate lender. If you lender is happy to lend one our lawyers can help as they are used to dealing with flying freeholds in Rumney. Conveyancing can be more complicated and therefore you should check with your conveyancing solicitor in Rumney to see if the conveyancing costs will increase in light of this.
My husband and I are new on the property ladder - had an offer accepted, but the property agent has warned us that the owners will only proceed if we use the agent's recommended conveyancers as they are insisting on an ‘expedited deal’. Our preferred option is to instruct a family solicitor with experience of conveyancing in Rumney
We suspect that the owner is not behind this ultimatum. Should the seller desire ‘a quick sale', alienating a genuine buyer is not the way to achieve this. Try to communicate with the owners directly and make sure they understand (a)you are keen to buy (b)you are ready to progress, with mortgage lined up © you do not need to sell (d) you wish to move quickly (e)but you are going to use your own,trusted Rumney conveyancing firm - as opposed tothose that will earn their estate agent a commission or achieve conveyancing figures pre-set by corporate headquarters.