In what way does my ID and proof of funds have anything to do with my conveyancing in Stockbridge Village? What am I being asked for?
Anti-terror and anti-money-laundering laws require solicitors and licensed conveyancers to verify the identification documents of the potential client they are dealing with prior to agreeing to accepting their conveyancing instruction. The Terms and Conditions that you need to sign should stipulate this. Your lender will also require certain documents to be viewed. If you are unwilling to provide ID verification documents, your conveyancer would not be able to accept instructions from you.
I'm the single beneficiary of my late father’s estate with all property in now in my sole name, including the house in Stockbridge Village. Conveyancing formalities meant that the Land Registry date was in March. I want to move. I understand that there is a CML 6 month 'rule', which means that my property ownership could be considered the same way as if I'd bought the house in March. Do I have to wait 6 months to sell?
The CML handbook instructs conveyancers to: "report to us immediately if the owner or registered proprietor has been registered for less than six months." Technically you may be impacted by that. How practical a view banks take of it, depend on the lender as this requirement principally exists to pick up on the purchase and immediately sell or the wholesaling and assigning of property.
We were going to get a OIP from Skipton this week so we can work out what to offer on a property we like as otherwise we are dependent on web based calculators (which aren't taking into account credit checks etc). Do Skipton recommend any Stockbridge Village solicitors on the Skipton conveyancing panel, or is it better to go independently?
You will need to appoint Stockbridge Village solicitors independently although you'll need to choose one on the Skipton conveyancing panel. The solicitor represents both you and Skipton through the process.
I have a mortgage with Leeds Building Society for my property in Stockbridge Village. Conveyancing has been completed some time ago. Should I wish to rent out my property and do not currently have a buy-to-let mortgage do I need to remortgage to a BTL mortgage or inform Leeds Building Society?
You must advise Leeds Building Society before renting your property as this is likely to be a breach of Leeds Building Society’s mortgage conditions. In many cases banks or building societies will allow you to rent out your former home without needing to switch to a buy-to-let mortgage but some lenders will add a surcharge to your mortgage rate to reflect the higher risk. You should contact Leeds Building Society directly. You need not do this via a Leeds Building Society conveyancing panel lawyer.
Despite weeks of looking the Title Certificate and documents to my house can not be found. The solicitors who handled the conveyancing in Stockbridge Village 4 years ago have long since closed. What are my options?
Assuming you have a registered title the information relating to your ownership will be held by HMLR with a Title Number. It is possible to conduct a search at the Land Registry, find your property and order current copies of the property title for a small fee. Where the title is Leasehold then the Land Registry will usually retain a certified copy of the Registered Lease and again, a copy can be obtained for £20 inclusive of VAT.
I am purchasing a new build house in Stockbridge Village with a loan from Platform Home Loans Ltd. The sellers refused to move on the price so I negotiated five thousand pounds worth of additionals instead. The estate agent suggested that I not reveal to my solicitor about the extras as it will impact my loan with Platform Home Loans Ltd. Should I keep quiet?.
All lenders require a Disclosure of Incentives Form from the developer of any new build, converted or renovated property, It is available online from the Lenders’ Handbook page on the CML website. CML form is completed and handed to the lender's surveyor when the inspection is done.
Lenders have different policies on incentives. Some accept none at all, cash or physical, while others will accept cash incentives up to 5%.
Hard to understand why the representative of a builder would be suggesting you withold information from a solicitor when all this will be clearly visible on forms the builder has to supply to its solicitor, the buyer's solicitor and the surveyor.
I am employed by a busy estate agent office in Stockbridge Village where we have witnessed a number of flat sales put at risk due to short leases. I have received inconsistent advice from local Stockbridge Village conveyancing firms. Can you shed some light as to whether the vendor of a flat can instigate the lease extension formalities for the buyer?
As long as the seller has been the owner for at least 2 years it is possible, to serve a Section 42 notice to kick-start the lease extension process and assign the benefit of the notice to the purchaser. This means that the proposed purchaser can avoid having to wait 2 years to extend their lease. Both sets of lawyers will agree to form of assignment. The assignment needs to be completed prior to, or at the same time as completion of the disposal of the property.
An alternative approach is to agree the lease extension with the freeholder either before or after the sale. If you are informally negotiating there are no rules and so you cannot insist on the landlord agreeing to grant an extension or transferring the benefit of an agreement to the buyer.
Stockbridge Village Conveyancing for Leasehold Flats - Examples of Queries Prior to buying
What prohibitions are there in the Stockbridge Village Lease? It would be wise to find out as much as you can regarding the managing agents as they will either make your life much easier or a lot more difficult. Being a leasehold owner you are frequently at the mercy of the managing agents both financially and when it comes to day to day matters such as the tidiness of the common parts. You should not be shy to ask other people what they think of them. Finally, investigate as to the dates that you are obliged pay the maintenance charge to the managing agents and specifically what you get for your money. Are any of leasehold owners in arrears of their service charge liability?