My lawyer has informed me that flying freehold insurance is required on my purchase. What is the typical level of cover needed for conveyancing in Ravenshead?
The right level of flying freehold indemnity insurance depends on who your lender is. It would differ for example between Lloyds TSB Bank and The Mortgage Works. Conveyancing solicitors as opposed to borrowers take out such insurances.
I am the sole recipient of my late grandmother’s will and I have everything in my name now, including the house in Ravenshead. The Ravenshead property was put into my name in April. I now wish to sell up. I understand that there is a CML six month 'rule', meaning my property ownership could be regarded the same way as though I had purchased the house in April. 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." Technically you might be impacted by that. Most mortgage companies would take a pragmatic view as this provision chiefly exists to pick up on subsales or the flipping of property.
About to purchase apartment in Ravenshead. 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 Co-operative 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 Ravenshead solicitor is on the Co-operative conveyancing panel.
We are buying a house and the conveyancer has identified Chancel Repair to which the house may be obligated to contribute to given it’s proximity to the area of such a church. He has mentioned insurance. Is this really necessary for conveyancing in Ravenshead
Unless a prior purchase of the premises took place post 12 October 2013 you may take it that lawyers conducting conveyancing in Ravenshead to remain encouraging a chancel search and or insurance against a claim.
I have todaybecome aware that Stirling Law have closed. They conducted my conveyancing in Ravenshead for a purchase of a leasehold apartment 12 months ago. How can I check that the property is in my name in the name of the former proprietor?
The quickest way to see if the premises is in your name, you can make a search of the land registry (£3.00). You can either do this yourself or ask a law firm to do this for you. If you are not registered you can seek help from one of a number of Ravenshead conveyancing specialists.
I am purchasing a new build house in Ravenshead with a loan from Aldermore. The builders refused to reduce the amount so I negotiated 6k of additionals instead. The sale representative told me not inform my conveyancer about this side-deal as it will affect my mortgage with the lender. Do I keep my lawyer in the dark?.
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 property in Ravenshead before retaining lawyers. I have been informed that there is a flying freehold overhang to the house. My surveyor advised that some lenders tend not grant a mortgage on a flying freehold home.
It varies from the lender to lender. Lloyds has different requirements from Halifax. If you e-mail us we can check 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 Ravenshead. Conveyancing can be more complicated and therefore you should check with your conveyancing solicitor in Ravenshead to see if the conveyancing costs will increase in light of this.
I bought a house in Ravenshead last 15/2/2023 and to date it is still not recorded with HM Land Registry. It was part of a new estate and my conveyancer told me that it may take twelve months to register. I have called HM Land Registry directly and they have informed me the original application was cancelled due to questions not being addressed in time. What can I do?
Call your conveyancing practitioner - Where you are unsatisfied with the responses, enquire as to their firm’s complaints process and escalate your concerns to a Partner. Registrations for Ravenshead conveyancing are not known to be particularly slow.