Much to our surprise we have been notified by our IFA that my Belmont lawyer is not on the lender Conveyancing panel. How can I check?
You need to contact your Belmont lawyer directly. It is reasonable to expect your lawyer to inform you what has happened. Where they are not on the panel they could put your in touch with solicitors on the approved list of lawyers for your bank.
Our son-in-law is purchasing a new build apartment in Belmont with a mortgage from UBS. His conveyancer has said that there is a delay in completing the ‘Disclosure of Incentive Form’. This document is news to me - what is it and who needs sight of it?
The form is intended to provide information to the main parties engaged in the transaction. Therefore, it will be provided to your son’s lawyer who should be on the UBS conveyancing panel as a standard part of the process, and to the valuer when requested. The developer will be required to start the process by downloading the form and completing it. The form will therefore need to be available for the valuer at the time of his or her site visit. The form should be sent to the UBS conveyancing panel solicitor as early as possible, in order to avoid any last minute delays, and no later than at exchange of contracts.
Is there a reason why leasehold purchase conveyancing in Belmont costs more?
Belmont leasehold properties involve far more paperwork than a freehold purchase, and therefore takes more time to examine and advise upon.Conveyancing will involve the lease having to be checked which is usually a lengthy document, queries raised to ensure that the covenants and conditions have been observed. If it is a flat there will be a management company in existence and the accounts of this will need to be checked and enquiries raised to ensure it is operating efficiently and that all monies due have been paid by the Seller to the company and if not ensuring that money is paid up to date or the appropriate undertakings obtained.
Me and my partner are buying a house in Belmont. I might seem paranoid but how we can trust a conveyancer? At some point we have to put funds into their account. What is the protection we have from them run away with our deposit?
Be assured that all money in a Solicitors client account is 100% safe, and even if your Solicitor ran off with it, the Law Society would reimburse you fully.
I am the only beneficiary of my late grandmother’s estate with all property in now in my sole name, including the my former home in Belmont. Conveyancing formalities meant that the Land Registry date was in January. I now wish to sell up. I understand that there is a CML six month 'rule', which means that my property ownership may be treated the same way as if I'd bought the house in January. Do I have to wait 6 months to sell?
The Council of Mortgage Lenders’ 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 affected by that. How sensible 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 flipping of property.
is it true that all Belmont solicitor firms on the Bank of Ireland conveyancing panel are overseen by the Solicitors Regulatory Authority?
As solicitors, in order to be on the Bank of Ireland approved list of solicitors they would need to be regulated by the SRA. Some banks do permit licenced conveyancers on their panel and in such a situation the firms would be regulated by the CLC.
I know that there are debates on Chancel Insurance on online forums. Do I require this when buying a residence in Belmont? or Apparently there is an ancient law that could mean that owners of property residing in a parish church boundary will be compelled to pay for repairs towards the chancel in proximity to the church. Is this applicable for conveyancing in Belmont?
Unless a previous acquisition of the premises took place after 12 October 2013 you could expect solicitors carrying out conveyancing in Belmont to remain recommending a chancel search and or chancel repair liability policy.
Last October I purchased a leasehold property in Belmont. Am I liable to pay service charges relating to a period prior to completion of my purchase?
In a situation where the service charge has already been demanded from the previous lessee and they have not paid you would not usually be personally liable for the arrears. However, your landlord may still be able to take action to forfeit the lease. It is an essential part of leasehold conveyancing for your conveyancer to be sure to have an up to date clear service charge receipt before completion of your purchase. If you have a mortgage this is likely to be a requirement of your lender.
If you purchase part way through an accounting year you may be liable for charges not yet demanded even if they relate to a period prior to your purchase. In such circumstances your conveyancer would normally arrange for the seller to set aside some money to cover their part of the period (usually called a service charge retention).
I have tried to negotiate informally with with my landlord for a lease extension without getting anywhere. Can the Leasehold Valuation Tribunal adjudicate on such matters? Can you recommend a Belmont conveyancing firm to represent me?
You certainly can. We are happy to put you in touch with a Belmont conveyancing firm who can help.
An example of a Freehold Enfranchisement decision for a Belmont premises is Buchanan Court 39 Vernon Road in April 2010. the Tribunal assessed that the premium payable for the freehold of the block should be £44,000. This case affected 2 flats. The unexpired term as at the valuation date was 66.67 years.