I'm the single recipient of my late mum's estate with all property in now in my sole name, including the house in Sedgefield. The Sedgefield property was put into my name in January. I now wish to sell up. I do know about the Mortgage Lenders six month 'rule', which means that my property ownership could be regarded the same way as though I had purchased the house in January. Do I have to wait half a year 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." Technically you may be affected by that. How practical a view banks take of it, depend on the bank as this requirement primarily exists to pick up on the purchase and immediately sell or the flipping of properties.
My fiancee and I are in the process of looking at apartments in Sedgefield and I am about to put in an offer. Should I already have a solicitor appointed at this stage? I am planning to take a home loan with Virgin Money.
You should start obtaining conveyancing quotes from solicitors ASAP. Once you decide who you want to use and once your offer is accepted you can instruct them to work for you and pass their details on to the selling agent. Given that you are taking out a mortgage with Virgin Money, make sure you remember to check that your lawyer is on the Virgin Money conveyancing panel.
I am due to exchange contracts on my apartment. I had a double glazing fitted in June 2010, but did not receive a FENSA certificate or Building Regulation Certificate. My buyer's lender, Barclays are being difficult. The Sedgefield solicitor who is on the Barclays conveyancing panel is happy to accept ‘lack of building regulation’ insurance but Barclays are requiring a building regulation certificate. Why do Barclays have a conveyancing panel if they don't accept advice from them?
It is probably the case that Barclays have referred the matter to their valuer. The reason why Barclays 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 purchased my apartment on 4 June and the transaction details is not yet registered. Should I be concerned? My conveyancing solicitor in Sedgefield said it would be registered in a couple of weeks. Are properties in Sedgefield particularly slow to register?
As far as conveyancing in Sedgefield registration is no quicker or slower than the rest of the country. Rather than based on location, timescales can adjust depending on who lodges the application, whether there are errors and if the Land registry communicate with any interested persons or bodies. Currently in the region of 80% of submission are completed in less than three weeks but occasionally there can be extensive hold-ups. Registration occurs once the buyer is living at the premises so 'speed' is not always top priority yet where it is urgent that the the registration takes place urgently then you or your conveyancer can communicate with the Registry to express the reasoning for the application to be prioritised.
Just had an offer accepted on a new build apartment in Sedgefield. Conveyancing is necessary evil at the best of times but I have never purchased a new build flat before. What sort of enquires would be asked in new build legal work.
Here are examples of a few leasehold new build enquiries that you should expect your new-build leasehold conveyancing in Sedgefield
The Landlord must covenant to assume the management if the Management Company goes into liquidation or otherwise defaults in running the management scheme. Will control of the Management Company (if any) be handed over to purchasers on completion of the last sale or earlier? Has the Lease plan been approved by the Land Registry and if not when will they be lodged for this purpose? There must be mutual enforceability of lessee’s covenants. The Vendor must covenant to keep unsold units in good repair until long leases are granted therefore.
I need to find a conveyancing solicitor for my conveyancing in Sedgefield. I have chance upon a site which appears to be the ideal solution If there is a chance to get all formalities done via web that would be ideal. Do I need to be wary? What should out be looking out for?
As usual with these online conveyancers you need to read ALL the small print - did you notice the extra charge for dealing with the mortgage?
My partner and I about to exchange on the purchase a property in Sedgefield but as a result of damage from the recent storms I have negotiated reparation from the current proprietors of four thousand pounds by way of a reduction in the price. I had intended this to be addressed as part of the conveyancing process however the bank will not permit this. Why were they informed?
Any property lawyer that is on the lender conveyancing panel is required to inform the bank of any variations to the sale price. In the event that you were to refuse your property lawyer to disclose the reduction to your lender then they would have no choice but to discontinue acting for you and the bank.