Can you explain why leasehold purchase conveyancing in Sandy is more expensive?
The conveyancing costs on a leasehold property in Sandy is often higher as compared to a freehold acquisition or disposal. This is due to the supplemental investigations required in liaising with the landlord and management company to obtain information concerning whether the rent and maintenance fee have been cleared and whether there are any large sums expected to be spent in the near future on repairs or maintenance of the building.
Can you clarify what the consequences are if my lawyer’s firm is suspended from the Skipton Solicitor panel ahead of completing my conveyancing in Sandy?
First, this is very unlikely to happen. 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 happen to be the only recipient of my late father’s estate with all property in now in my sole name, including the house in Sandy. Conveyancing formalities meant that the Land Registry date was in November. I plan to dispose of the house. I understand that there is a CML 6 month 'rule', which means that my property ownership may be considered the same way as if I'd bought the property in November. Do I have to wait 6 months to sell?
The Council of Mortgage Lenders’ handbook requires solicitors to: "report to us immediately if the owner or registered proprietor has been registered for less than six months." By the strict wording you might be impacted by that. How sensible a view mortgage companies take of it, depend on the mortgage company as this obligation primarily exists to capture subsales or the flipping of properties.
is it true that all Sandy conveyancing solicitors on the Aldermore conveyancing panel are governed by the Solicitors Regulatory Authority?
As a firm of solicitors, in order to be on the Aldermore conveyancing panel they would need to be governed by the SRA. Some mortgage companies do allow licenced conveyancers on their panel and in that case the firms would be governed by the Council of Licensed Conveyancers.
I have paid off my mortgage with Virgin Money. I assume I don't need a Sandy solicitor on the Virgin Money panel to remove the mortgage at the Land Registry. Please confirm.
If you have finished paying off your Virgin Money mortgage, they may send you evidence showing that you have paid it off. Alternatively they may notify the Land Registry directly. The Land Registry need to see this evidence before they will remove the Virgin Money mortgage from the register. Virgin Money, and any evidence they send you, will determine the action you need to take. In cases where no conveyancer is acting for you and you have paid off your mortgage:
- but are not moving to another property
- where Virgin Money has sent the Land Registry the discharge electronically, and
- Virgin Money has instructed the Land Registry to do so
I've recently found out that there is a flying freehold element on a house I put an offer in a fortnight ago in what should have been a straight forward, no chain conveyancing. Sandy is where the house is located. What do you suggest?
Flying freeholds in Sandy are rare but are more likely to exist in relation to terraced houses. Even though you don't necessarily need a conveyancing solicitor in Sandy 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 Sandy may decide 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 residence.
I need to instruct a conveyancing practitioner in Sandy for my sale. Can I review a solicitor's complaints history with the profession’s regulator?
You may search for presented Solicitor Regulator Association (SRA) decisions stemming from inquisitions started on or after 1 January 2008. Go to Check a solicitor's record. For information Pre 2008, or to check a firm's record, call 0870 606 2555, 08.00 - 18.00 any week day save for Tuesday when lines open at 9.30am. International callers, call +44 (0)121 329 6800. The SRA may monitor telephone calls for training reasons.