I happen to be the single recipient of my late grandmother’s estate with all property in now in my sole name, including the my former home in Southend On Sea. Conveyancing formalities meant that the Land Registry date was in June. I plan to dispose of the house. I understand that there is a Mortgage Lenders 6 month 'rule', which means that my proprietorship may be treated the same way as if I'd bought the property in June. Do I have to wait 6 months to sell?
The Council of Mortgage Lenders’ handbook instructs 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 could be caught by that. Most lenders would take a sensible view as this provision is principally there to capture the purchase and immediately sell or the wholesaling and assigning of properties.
When it comes to lenders such as Skipton, do Southend On Sea conveyancers incur a yearly amount to be on the conveyancing panel?
We are not aware of any lender fees to register on their list of approved firms, although some do charge an administration fee to deal with the processing of the conveyancing panel application.
I was told two weeks ago that my mortgage has been agreed to by TSB. Is it usual for TSB to only issue the offer once my solicitor in Southend On Sea is approved on their conveyancing panel? TSB have asked my solicitor to see a copy of their PI Insurance.
A lender would not issue a mortgage until they have details of a lawyer on their panel. It can take a few weeks for TSB to deal with your lawyer's application to be on the TSB conveyancing panel. There's no guarantee that your solicitor will be accepted.
Despite weeks of looking the Title Certificate and documents to my property are lost. The solicitors who handled the conveyancing in Southend On Sea 10 years ago have long since closed. Will I be able to sell the house?
You no longer need to have the physical deeds to prove you own the land or premises, as the Land Registry have everything they need in a digital format.
About to purchase a new build flat in Southend On Sea. Conveyancing is necessary evil at the best of times but I have never purchased a new build flat before. Can you give me some examples of some of the questions asked in new build legal work.
Set out below are examples of a selection of leasehold new build questions that you may expect your new-build leasehold conveyancing in Southend On Sea
-
Will the freehold then be transferred for a nominal consideration (not exceeding £100) to the Management Company? Please confirm the Lease plans are architect prepared. Investor purchasers must be able to freely grant unsecured tenancies at market rents without requiring any consents. The Lease must contain a provision on behalf of the Vendor to pay the service charges in respect of unoccupied units in order to ensure that all services can be provided. Where there is an Undertaking being granted there is the risk of forfeiture of the Headlease subject to relief if one or more of the Underlessees are willing to accept the original Head Lessee’s obligations as otherwise relief will be denied to the Underlessees. The only alternatives are the Head Lessor agreeing not to forfeit the Headlease or the Head Lessee guaranteeing to the Underlessees that it will not be in breach of the Headlease.
Yesterday I discovered that there is a flying freehold element on a house I have offered on a fortnight ago in what should have been a straight forward, no chain conveyancing. Southend On Sea is where the house is located. What do you suggest?
Flying freeholds in Southend On Sea are unusual but are more likely to exist in relation to terraced houses. Even where you use a solicitor outside Southend On Sea you must be sure that your lawyer goes through the deeds very carefully. Your lender may require your conveyancing solicitor to take out an indemnity policy. Some of the more diligent conveyancing solicitors in Southend On Sea 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 property.
Midway through the sale of a leasehold flat in Southend On Sea. Conveyancing lawyers are doing their job but we have been asked to pay an extortionate amount from the landlord. To date we have issued a cheque for £225 for a leasehold management pack and then a further £117.20 for responses to queries supplied by the buyers lawyer.
Your conveyancing practitioner will not have any sway over the extent of the fee for this information but the typical fee for the information for Southend On Sea leasehold property is £355. When it comes to Southend On Sea conveyancing deals it is conventional for the seller to cover the charges. The freeholder or their agents are under no legal obligation to address such questions most will be content to do so - albeit often at exorbitant prices disproportionate to the work involved. Unfortunately there is no law that requires capped charges for administrative tasks. Neither is there any statutory time frame by which they are duty bound to issue answers.