I'm the single beneficiary of my late father’s will and I have everything in my name alone, including the house in Worcester. The Worcester property was put into my name in January. I now wish to sell up. I do know about the Mortgage Lenders six month 'rule', meaning my proprietorship could be considered the same way as if I'd bought the property in January. Will no one buy the property for half a year?
The CML 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 may be caught by that. How sensible a view banks take of it, depend on the mortgage company as this clause primarily exists to capture subsales or the flipping of properties.
Is it the case that all Worcester solicitors on the Co-operative conveyancing panel are governed by the SRA?
As a firm of solicitors, in order to be on the Co-operative approved list of solicitors they would need to be overseen by the SRA. Some lenders do permit licenced conveyancers on their panel and in such a situation the firms would be regulated by the CLC.
Intending to buy a flat in Worcester. I have received an online quote from a licenced conveyancer, which states: "There will be no charge for dealing with the Lender if you are obtaining a mortgage". I take this to mean that there will be no additional fee if the solicitor is on the Santander conveyancing panel. I wanted to make sure it means there will be no additional fees for dealing with the mortgage.
They are simply saying that the cost for acting for the lender is included in the fee being quoted. It is worth you checking that the Worcester conveyancing practitioner is on the Santander conveyancing panel.
I am purchasing a house and the lawyer has identified Chancel Repair to which the house could be obligated to pay given it’s proximity to the area of such a church. She has mentioned insurance. Is this really warranted for conveyancing in Worcester
Unless a previous acquisition of the house completed after 12 October 2013 you can take it that lawyers conducting conveyancing in Worcester to continue to recommend a chancel search and or chancel repair liability insurance.
I'm buying my first flat in Worcester benefiting from help to buy. The developers would not budge the price so I negotiated £7000 of extras instead. The property agent told me not to tell my solicitor about this side-deal as it may adversely affect my loan with the bank. 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 opted to have a survey completed on a house in Worcester ahead of retaining conveyancers. I have been advised that there is a flying freehold element to the property. Our surveyor advised that some mortgage companies tend refuse to grant a mortgage on this type of house.
It depends who your proposed lender is. Lloyds has different instructions from Birmingham Midshires. If you call us we can look into this further via the appropriate mortgage company. If you lender is happy to lend one our lawyers can assist as they are used to dealing with flying freeholds in Worcester. Conveyancing may be slightly more expensive based on your lender's requirements.
I need to retain a conveyancing solicitor for my conveyancing in Worcester. I have discover a site which appears to be the perfect solution If there is a chance to get all the legals done via phone that would be ideal. Should I be concerned? What are the potential pitfalls?
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?