We are getting closer to an exchange on a flat in Sudbury and my mum and dad have sent the exchange deposit to my solicitor. I am now advised that as the deposit has not arrived from me my lawyer needs to disclose this to my bank. I am advised that, in also acting for the bank he must advise them that the balance of the purchase price is coming from anyone other than me. I informed the mortgage company regarding my parents' contribution when I applied for the mortgage, so is it really appropriate for this now to delay the deal?
Your property lawyer is duty bound to clarify with the bank to ensure that they know that the balance of the purchase price is not from your own funds. The solicitor can only notify this to your mortgage company if you permit them to, failing which, your lawyer must cease to continue acting.
Finally the sale completed on my house in Sudbury last January yet the purchaser is texting every few hours to say their solicitor needs to hear from mylawyer. What should have happened following completion?
Following your disposal your conveyancer is duty bound to send the transfer documentation and all additional paperwork to the buyer’s conveyancer. If applicable, your lawyer should also evidence that the mortgage has been repaid to the purchasers conveyancers. There are no post completion tasks peculiar conveyancing in Sudbury.
My uncle passed away six months ago and as sole heir and executor I was left the house in Sudbury. The house had a small mortgage left on it of around £8000. I want to transfer the title deeds into my name whilst I re-mortgage to Coventry BS, pay off the mortgage. Is this possible?
Given you intend to refinance then Coventry BS will insist on your using a conveyancer on the Coventry BS conveyancing panel. Here is link to the Land Registry online guidance around what to do when a property owner dies. This will help you to understand the registration process behind changing the details re the registered title. in your case it would appear that you are effectively purchasing the property from the estate. Your Coventry BS conveyancing panel solicitor pays the new mortgage money into the estate, the estate pays off the old mortgage, the charge is released and you become the owner and the Coventry BS mortgage is registered as a charge at the Land Registry.
I am the single recipient of my late mum's estate and I have everything in my name now, including the house in Sudbury. Conveyancing formalities meant that the Land Registry date was in October. I now wish to sell up. I do know about the CML 6 month 'rule', meaning my property ownership will be considered the same way as if I'd bought the property in October. Will no one buy the property for half a year?
The CML handbook mandates 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 mortgage company as this requirement is principally there to identify the purchase and immediately sell or the wholesaling and assigning of property.
We have agreed to purchase a house in Sudbury. An unusual aspect is that the roof has a solar panel. Solicitors conducting should look into this right? Will my lender Barclays be concerned?
Given that you are obtaining a mortgage with Barclays your lawyer must comply with the conveyancing requirements set out in Section 2 of UK Finance Lenders’ Handbook for Barclays. The CML Handbook includes minimum provisions for solar panel roof-space leases, and lawyers are required to report to Barclays where a lease does not satisfy these conditions. The conditions relate to the installation of panels on properties countrywide and is not limited to Sudbury.
I was told four weeks ago that my mortgage has been agreed to by Leeds Building Society. Is it usual for Leeds Building Society to only issue the offer once my solicitor in Sudbury is approved on their conveyancing panel? Leeds Building Society have asked my solicitor to see a copy of their PI Insurance.
A lender would not issue an offer until they have details of a lawyer on their panel. It can take a few weeks for Leeds Building Society to deal with your lawyer's application to be on the Leeds Building Society conveyancing panel. There's no guarantee that your solicitor will be accepted.
Should my lawyer be asking questions regarding flooding during the conveyancing in Sudbury.
The risk of flooding is if increasing concern for conveyancers dealing with homes in Sudbury. There are those who acquire a property in Sudbury, completely expectant that at some time, it may suffer from flooding. However, aside from the physical destruction, where a house is at risk of flooding, it may be difficult to obtain a mortgage, suitable building insurance, or sell the premises. There are steps that can be taken as part of the conveyancing process to forewarn the purchaser.
Lawyers are not best placed to give advice on flood risk, but there are a number of searches that can be initiated by the buyer or by their conveyancers which will figure out the risks in Sudbury. The standard property information forms sent to a buyer’s conveyancer (where the Conveyancing Protocol is adopted) includes a standard question of the vendor to discover whether the premises has suffered from flooding. In the event that flooding has previously occurred and is not notified by the owner, then a buyer may issue a compensation claim as a result of such an inaccurate response. The buyer’s conveyancers may also commission an enviro report. This will indicate whether there is a recorded flood risk. If so, additional inquiries will need to be initiated.