The property market in Charmouth is heating up. What can I do to hasten the conveyancing process?
First, If the seller is applying a tight deadline to sign contracts it is highly recommended that your conveyancer is familiar with the location as they will have local contacts and know-how. It is possible that they would have transacted otherhouses in the same street. Therefore consider using a Charmouth conveyancing lawyer. In addition, be sure that the conveyancing firm is on the on the approved list for your mortgage company. It is estimated that nearly one in five of Charmouth conveyancing transactions are suspended or jeopardised after finding out that a buyer’s solicitor was not on their banks list of approved solicitors. In many cases this discovery resulted in the legal transfer of property being delayed by an average of 21 days. It is claimed that this issue impacts approximately 100,000 home sales annually. Almost all Charmouth conveyancing firms can not represent certain banks so do check at the outset.
I am the sole recipient of my late mum's estate and I have everything in my name alone, including the my former home in Charmouth. Conveyancing formalities meant that the Land Registry date was in March. I plan to dispose of the property. I do know about the CML 6 month 'rule', meaning my proprietorship could be considered the same way as though I had purchased the house in March. Will no one buy the property for half a year?
The Council of Mortgage Lenders’ handbook obliges 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. Most lenders would take a pragmatic view as this clause is chiefly there to identify the purchase and immediately sell or the wholesaling and assigning of properties.
When it comes to lenders such as Principality, do Charmouth property lawyers face an annual charge to be on the conveyancing panel?
We are not aware of any lender fees to register on their panel, although some do charge an administration charge to deal with the processing of the conveyancing panel application.
The mortgage over my property is with Kent Reliance for my property in Charmouth. Conveyancing was finalised a year ago. In the event that I decide to rent out my property and do not currently have a buy-to-let mortgage do I need to remortgage to a BTL mortgage or inform Kent Reliance?
Kent Reliance must be informed of your intention in advance of letting out your property as this is likely to be a breach of Kent Reliance’s mortgage conditions. In many cases banks or building societies will allow you to rent out your former home without needing to switch to a buy-to-let mortgage but some lenders will add a surcharge to your mortgage rate to reflect the higher risk. You should contact Kent Reliance directly. You need not do this via a Kent Reliance conveyancing panel firm.
Despite weeks of looking the Title Certificate and documents to my property can not be found. The lawyers who handled the conveyancing in Charmouth 4 years ago no longer exist. What are my next steps?
Assuming you have a registered title the information relating to your proprietorship will be held by the Land Registry with a Title Number. It is possible to carry out a search at the Land Registry, find your house and secure current copies of the property title for less than a fiver. Where the property is Leasehold then the Land Registry will in most cases retain a certified copy of the Registered Lease and again, a copy can be ordered for £20 inclusive of VAT.
I've recently found out that there is a flying freehold issue on a house I have offered on a fortnight ago in what was supposed to be a quick, no chain conveyancing. Charmouth is the location of the property. Can you offer any opinion?
Flying freeholds in Charmouth are rare but are more likely to exist in relation to terraced houses. Even where you use a solicitor outside Charmouth you would need to get your solicitor to go through the deeds thoroughly. Your bank may require your conveyancing solicitor to take out an indemnity policy. Some of the more diligent conveyancing solicitors in Charmouth may ascertain 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 property.
How can the Landlord & Tenant Act 1954 impact my business property in Charmouth and how can your lawyers assist?
The particular law that you refer to provides security of tenure to business leaseholders, giving them the legal entitlement to make a request to court for a new tenancy and remain in occupation when the lease comes to an end. There are certain specified grounds that a landlord can refuse a lease renewal and the rules are involved. Fees are different for commercial conveyancing. Charmouth is one of our hundreds of areas of the UK in which the firms we work with are located
I have been sourcing a conveyancing lawyer in Charmouth for my sale. Is there any facility to check a solicitor's record with the profession’s regulator?
Anyone may search for documented Solicitor Regulator Association (SRA) determinations arising from inquisitions started on or after Jan 2008. Visit Check a solicitor's record. For records about the period before 1 January 2008, or to check a solicitors record, telephone 0870 606 2555, 08.00 - 18.00 any week day save for Tuesday when lines open at 9.30am. For callers outside the UK, call +44 (0)121 329 6800. The SRA could monitor telephone calls for training reasons.