I happen to be the single beneficiary of my late father’s will with all property in now in my sole name, including the house in Taunton. Conveyancing formalities meant that the Land Registry date was in June. I want to move. I do know about the CML six month 'rule', meaning my property ownership will be considered the same way as if I'd bought the house in June. Will no one buy the property for half a year?
The CML 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 may be affected by that. How practical a view banks take of it, depend on the bank as this requirement is principally there to capture the purchase and immediately sell or the flipping of properties.
I'm at the point of looking at houses in Taunton and I am now considering a potential offer. Is it premature to have a solicitor in place? I intend to finance via a home loan with Skipton.
You should start obtaining conveyancing estimates from solicitors ASAP. After you have chosen your lawyer and once your offer is accepted you can instruct them to work for you and pass their contact information on to the estate agent. Given that you are obtaining a mortgage with Skipton, ask your prospective lawyers if they are on the Skipton conveyancing panel otherwise they can't do the mortgage legal work.
After weeks of negotiation I have agreed a price on an apartment in Taunton. My financial adviser pressured me to appoint their conveyancing practitioner. I paid an upfront payment of £175. A few days later, the conveyancer contacted me sheepishly admitting that they were not on the Coventry BS conveyancing panel. Am I right in thinking that I should be due a refund?
You should be able to recover this from the law firm if they were not on the Coventry BS panel. They should have asked at the outset which lender you were obtaining a mortgage with. An important lesson to readers of this site is to check that the lawyers are on the appropriate lender panel.
It has been 3 months following my purchase conveyancing in Taunton completed. I have checked the Land Registry site which shows that I paid £200,000 when infact I paid £160,000. Why the discrepancy?
The price paid figure is taken from the application to register the purchase. It is the figure included in the Transfer (the legal deed which transfers the premises from one person to the other) and referred to as the 'consideration' or purchase price. You can report an error in the price paid figure using the LR online form. In most cases errors result from typos so at first glance the figure. Do report it so they can double check and advise.
Yesterday I discovered that there is a flying freehold issue on a property I have offered on two weeks back in what should have been a straight forward, no chain conveyancing. Taunton is where the house is located. Can you shed any light on this issue?
Flying freeholds in Taunton are unusual but are more likely to exist in relation to terraced houses. Even though you don't necessarily need a conveyancing solicitor in Taunton you would need to get your solicitor to go through the deeds very carefully. Your bank may require your conveyancing solicitor to take out an indemnity policy. Some of the more diligent conveyancing solicitors in Taunton 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 premises.
As co-executor for the estate of my grandmother I am selling a residence in Cardiff but live in Taunton. My solicitor (based 235 miles from meneeds me to execute a statutory declaration before completion. Can you recommend a conveyancing solicitor in Taunton who can attest this legal document for me?
strictly speaking you should not be required to have the documents witnessed by a conveyancing solicitor. Normally or notary public or solicitor will do regardless of whether they are located in Taunton
Are there frequently found problems that you encounter in leases for Taunton properties?
Leasehold conveyancing in Taunton is not unique. Most leases are individual and legal mistakes in the legal wording can sometimes mean that certain provisions are erroneous. For example, if your lease is missing any of the following, it could be defective:
A provision to repair to or maintain elements of the property
A defective lease can cause problems when trying to sell a property as they can affect a potential buyer’s ability to obtain a mortgage. National Westminster Bank, Virgin Money, and Nottingham Building Society all have very detailed conveyancing instructions when it comes to what is expected in a lease. If a mortgage lender believes that the lease is defective they may refuse to provide security, forcing the buyer to withdraw.
I own a leasehold flat in Taunton, conveyancing having been completed in 2000. Can you work out an approximate cost of a lease extension? Equivalent properties in Taunton with an extended lease are worth £185,000. The average or mid-range amount of ground rent is £65 levied per year. The lease ends on 21st October 2080
With just 61 years left to run we estimate the premium for your lease extension to range between £18,100 and £20,800 plus legals.
The suggested premium range above a general guide to costs for extending a lease, but we cannot give you a more accurate figure in the absence of detailed due diligence. You should not use the figures in a Notice of Claim or as an informal offer. There are no doubt other concerns that need to be taken into account and clearly you want to be as accurate as possible in your negotiations. Please do not move forward placing reliance on this information without first getting professional advice.